Burnt Toast’s Doodle NFT Sales: How Has a Newcomer Seen $166 Million in Sales in 3 Months?

NFT, ART, DIGITAL

Author: Rachel Martin

 

Snimok ekrana 2022-02-03 v 11-24-39

Source: https://jeangalea.com/best-nft-projects/

 

Scott Martin has been an artist and animator for years under the alias Burnt Toast. In October of 2021, his career took off as he began to sell his digital works as NFTs. The collection – called Doodles and made up of 10,000 NFTs – sold out in minutes last year. The series includes colorful pastel-hued characters that are humans, aliens, skeletons, and mascots. They frequently have accessories like sunglasses, AirPods, and angelic halos.

 

None of this is particularly unusual in the NFT world. What makes it unique is how a generally new arrival to the digital art scene can suddenly make so much money. Martin had built up his social media audience for years, and in the meantime took his energy to researching NFT artists and sales.

 

Initially, Martin saw these as tangible works that could be hung on the wall. He decided instead, he would animate and sell them on an online marketplace (Foundation, which is an invite-only marketplace for creators), finally joining the digital art craze.

 

Choosing a price was the next step. On Oct. 17, 2021, when Doodles launched, the group sold each piece for .123 ETH, approximately $306. Within a month, pieces were selling for anywhere from 1.25 ETH to 2.3 ETH on OpenSea, about $3,000 to $5,635. All primary sales of Doodles were over in mere minutes, but the current seven-day sales average for Doodles is 11.2 ETH or $27,950 per NFT. Investors are now profiting off of secondary sales of these pieces.

 

What really helped? A celebrity endorsement. As a newcomer to the NFT world, Scott Martin was pleasantly surprised when Steve Aoki halted one of his shows on January 12, 2022 to show off a Doodle NFT that he had purchased for $859,000.

 

As the NFT space continues to develop, it will be interesting to see how new artists enter. Scott Martin has done his research and had luck in selling his collection. Will it be quite so easy for others?

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