Edmund Chen Manages to Sell His NFT Painting for About $53,000

By
Lin Jiawen
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Clearly, the new “in” thing when it comes to making money is none other non-fungible tokens (NFTs).

With the nature of NFTs allowing literally anything you can think of to be sold for a decent amount of money, it’s no wonder that more and more people are experimenting with this new source of income.

And the latest addition to the NFT curator family is none other than local veteran actor Edmund Chen, who, according to Shin Min Daily News, recently auctioned off an NFT painting for 15 Ether during a private auction.

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Just FYI, 15 Ether = $53,237.10 on 22 February, the day of the auction. That’s a lot of money from a painting, unless you’re Van Gogh or something.

The painting was auctioned off on 22 February to Queenie Yang, an entrepreneur.

The 61-year-old, who still looks like he’s 31 years old, also took to Instagram to announce his new venture into the world of NFTs.

In the Instagram post, he remarked that his NFT “aims to create a platform for artists and modernising the preservation of traditional art”.

And it seems like this is only the first part, and that there’s still much more to come.

According to Shin Min, the painting he recently sold is titled “Spring — Cherish the Moment”, and is the first instalment of a four-part artwork collection called Eternal Collections.

Of course, the other three paintings will be called Summer, Autumn and Winter lah. No prizes for guessing that one correctly.

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Chen explained to Shin Min that the inspiration for these paintings came from an artwork that he created in 2013, which was also called “Cherish the Moment”.

If that doesn’t sound familiar to you, maybe this next sentence will ring a bell to you: It’s the artwork that earned him the title of being a Guinness World Record holder for the “Longest drawing by an individual”.

“Once the four paintings of Spring, Summer, Autumn and Winter are complete, they will form a long painting which has a high collection potential and value and will be a rare set of NFTs,” he commented.

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He also told Shin Min about the difficulties he faced while creating the artwork, which apparently took two months to complete.

Still, I guess over $53,000 for two months is pretty worth it, eh?

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“Because it is a blockchain, I tried to draw it on a tablet. It took a long time because I was not familiar with the tablet’s drawing programme. Fortunately, my son (Chen Xi) was instructing me, but it still took about two months to revise until I was satisfied,” he explained.

And of course, Shin Min also asked Chen how he plans to use the money earned through the sale. To that, he responded, “This is a very encouraging start and the money will be fully invested into upcoming development work and the platform.”

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Featured Image: @edmundchen.sg (Instagram)

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Lin Jiawen
Email: [email protected]