Melbourne Street Artist Lushsux Has Made Over $500,000 From NFTs

April 27, 2021, 9:30 AM AEST - 1 year ago

Lushsux has become one of the most popular street artists in Melbourne, reaching international recognition for his large mural paintings depicting internet meme culture. He has now become one of the highest-paid artists in Australia, selling his NFTs for over $500,000 AUD.

Over the weekend, Lushsux has sold over $130k worth of NFTs with some pieces that originally sold for $333 are today reselling for over $20k.

Some of his most popular (and controversial) paintings represent the latest trends in the meme culture. His artwork ranges from politicians like Donald Trump in the form of ice cream, or popular icons in the crypto scene, including Doge, Elon Musk with a “genetically engineered catgirl” and the CEO of Binance Changpeng Zhao with laser eyes.

Funds are Safu,” a limited edition at Makersplace

In an interview with Coinjar, Lushsux admitted he was not deep into the cryptocurrency space at first, but he saw a great opportunity in it and, especially, in the NFT industry.

The idea of selling JPEGs and other digital content for thousands of dollars seemed like a “cool idea” to him, and he’s now selling his work in markets like Rarible and Nifty Gateway.

I sold a piece called ‘The 8’ for 88.8 ETH, or like $250,000. I’m literally one of Australia’s highest paid living artists. Top 20 at least. And some guy is trying to sell one of my Elon Musk portraits for $1.4 million. You could buy a Whiteley for that price. Or, like, a 2-bedroom house in Melbourne.

Lushsux

NFTs are still in season

NFTs are Digital creations that provide certain benefits for their creators, like copyrights, transparency, and better revenue. Some of these artworks are being sold for hundreds of thousands —and even millions. Read more about it in our guide to NFTs.

The NFT craze reached the mainstream due to these millionaire purchases, calling the attention of artists, musicians, and other celebrities who now see it as an opportunity to promote their work. Even former NSA consultant Edward Snowden auctioned an NFT for US$5.4 million.

Lushsux said NFTs are an “excuse to spend more time building things in the digital world,” although he doesn’t believe the market will be sustainable in a few months.

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