The concept of NFTs (non-fungible tokens, also known as “virtual assets” that can’t be replaced) has been taking the world by storm in recent months. From billionaires, celebrities, entrepreneurs, and artists to everyday people, everyone is buying and trading NFTs like personal assets.
It’s undeniable that NFTs suddenly became a global sensation, helping many people change their lives in unexpected ways. One standout example is Amrit Pal Singh, a 32-year-old artist from India.
9 years of hard work didn’t match 9 months of NFT sales
Singh has been designing and illustrating since 2012. His steady work provided just enough to get by, but he wasn’t wealthy.
In February 2021, he created his first NFT artwork. Before that, Singh worked on a 3D art project called Toy Faces. A friend suggested it would be perfect for the NFT model, so he decided to give it a try for fun.
Unexpectedly, he soon received several offers to auction his art. Singh then continued selling NFT pieces from his Toy Faces collection on online marketplaces like Foundation and SuperRare. He even took custom orders from clients.
Toy Faces are 3D cartoon-style portraits of various figures, including famous people like Malala Yousafzai, Steve Jobs, and Frida Kahlo. All are handcrafted, meaning Singh drew each image by hand. He said, “Most of them are people who inspired me.”
Singh said each Toy Faces NFT sold for a minimum of 1 Ether, about $4,706 (over 100 million VND).
So, in just 9 months, Singh claims to have earned more than $1 million from selling his NFT art.
He said this huge income allowed him to invest in works by other artists, including LIRONA, Tory Bryant, Ankit Kapoor, Navneet Bawa, Prasad Bhat, Anwesh Kumar Sahoo, and Rachna Ravi. Some of these artists sold pieces for hundreds of thousands of dollars.
Although he had done well as a designer for 9 years, his NFT sales in 9 months outpaced that. Singh said the money he made selling NFTs in 7 months equaled 3 to 4 years of his artist and designer income. Because of this, he plans to focus fully on NFTs going forward.
Buys virtual land to build an NFT gallery
According to CNBC Make It, Singh bought a virtual land plot for 2 Ether, about $9,300 at current prices, on Cryptovoxels, a metaverse powered by the Ethereum blockchain where users can buy land and build homes. There, he created a 180-square-meter gallery called Toy Face Cafe, named after his NFT collection.
On the ground floor of the cafe, Singh displays his own creations, while the upper floors showcase pieces he’s collected from the virtual world.
“Besides owning the land, I thought it would be great to use it to display art and showcase my growing collection,” he said.
Singh also designed and sold a project called Toy Rooms. This collection features 3D illustrations of various rooms, including the cave from Disney’s Aladdin, the Hobbit house from Lord of the Rings, and the Simpsons’ living room.
He said these rooms act like portals to another world full of surprises and fun. Especially during the pandemic, while isolated indoors, this collection rekindled his love for 3D illustration.
According to Foundation, the floor price for each Toy Rooms NFT is about 1.22 Ether, roughly $5,741. Singh also earns a 10% royalty whenever his work is resold.
While optimistic about NFTs, Singh stresses the importance of “only spending what you can afford to lose.”
Source: CNBC
