The animated picture costs nearly 1,000,000 USD

 DeeKay Kwon, a graphic designer, has just successfully sold his NFT work for 1 million USD.

On April 8, DeeKay Kwon announced on Twitter the successful sale of an NFT item for 310 ETH (approximately 1 million USD). The buyer of this work is the owner of the famous Twitter account among NFT investors, @CozomoMedici. Snoop Dogg, a famous American rapper who once claimed to be Cozomo Medici.

DeeKay's recently sold NFT is a life loop animation called "Life and Death". The work describes the process of growing up, maturing and dying of a man in the form of 2D animation.

Animated work Life an Death has just sold for $ 1 million. Photo: DeeKay.

“Sometimes a piece of work comes along and shows you the power of art, moving hearts and souls. That's why I feel DeeKay's Life and Death will be the representative work of this period. I am very happy to get it today for almost 1 million USD (310 ETH),” Cozomo Medici wrote on Twitter.

The buyer said he had offered 1 million USD so that the author could not refuse. This cost is 20% higher than DeeKay Kwon's previous highest priced work.

“I feel happy, but it comes with anxiety. I'm not sure if I really deserve that $1 million. I always think of my work as something simple, anyone can enjoy. It's like a meme, not something on display in a museum," DeeKay wrote on Twitter.

DeeKay Kwon sells his limited, single-version NFTs on the Superrare.com platform. In addition to Life and Death, there are 8 other works of this artist for sale. The price of these animated NFTs ranges from $16,000-680,000. According to Crypto Art's statistics, DeeKay Kwon's works are worth about $2.8 million.

Portrait of animator DeeKay Kwon. Photo: D.K.

In an interview with The Money Report, DeeKay Kwon said he was born in Korea and came to the US at the age of 12. He used to work for Google and Apple but quit from 3/2021 to pursue NFT.

“I had a good job at Apple with a decent salary, but that's it. There, I was unhappy and lacked a challenge. If I can't be creative at work, I'll go crazy," DeeKay Kwon said.

Although many high-value works have been successfully offered for sale, NFT is showing signs of decline. The first tweet by Jack Dorsey, the founder of Twitter, was sold as an NFT in March 2021 for $2.9 million. However, the current owner of this item is having trouble finding a buyer. So far, the aforementioned NFT has only had 7 bids with the highest amount of about 7,000 USD.

NFT (non-fungible tokens) is a digital asset that represents real-world objects such as art, music, or game items. They are bought and sold online on cryptocurrency exchanges. Depending on how rare and prominent, the price of many NFTs can run into the hundreds of thousands of dollars.

Although appearing since 2014, NFT is becoming more and more popular as many big fashion companies like Adidas, Nike, Gucci also join this trend.