Place/Date: Seoul, South Korea - November 30th, 2021 at 8:00 pm UTC · 4 min read
Contact: Haru Invest, Source: Haru Invest
An NFT of a contemporary art icon Keith Haring will go on sale from Dec. 1, 2021, offering an unique investment opportunity to NFT enthusiasts and investors. The sale will take place in a draw format and it will be conducted by Haru Invest, a top digital asset management company.
Often introduced with the likes of Andy Warhol and Jean-Michel Basquiat, Keith Haring was a contemporary artist who contributed to American pop culture with the belief that “anyone should be able to enjoy art”. Keith Haring’s artwork has gained a lot of popularity in recent years with his artist ranking rising 35 spots in the last five years (75th in 2016 to 40th in 2021)and his auction volume has more than tripled since 2010 according to Artprice.
One of the reasons behind Keith Haring’s popularity is his artworks’ value, with the highest auction, at $6,537,500, taking place at Sotheby’s New York in 2017. With an average return on investment of 208%, his work continues to show a value increase rate above the S&P 500 from 2000 to the present.
The NFT up for sale is of Keith Haring’s original artwork “Untitled” (1980). “Untitled” contains Keith Haring’s highly appraised signatures – heart icon, smiling face and high chromatic primary colors. Considered to be an early version that lasted from 1980 to 1981, the two-eyed smiling face in “Untitled” differs from the commonly known three-eyed face version. It is also noteworthy that this is the period when Keith Haring rapidly emerged as a star artist through his first individual exhibition.
In addition, “Untitled” is also a work that comes with handwritten letters and gives a unique glimpse into Keith Haring’s social character.
Unlike most NFTs, this unique NFT has an intrinsic value – it corresponds to and is exchangeable with the original artwork, “Untitled” (1980). The buyer of the NFT will need to decide whether to keep the digital NFT or exchange the NFT for the original physical artwork. Upon exchange for the original physical artwork, the NFT will be burned. If the buyer chooses instead to keep the NFT, the original physical artwork will be destroyed.
Despite being used since 2014, NFTs have started to become more widespread in recent years – starting with games and gradually expanding into art, virtual real estate and digital creative works. The NFT market’s total transaction volume reached $2 billion in the first quarter of this year alone, showing steep growth; compared to the $140 million traded in 2019 and $340 million in 2020.
Hugo Lee, CEO of Haru Invest, said:
“With the rapid rise of NFT, we are excited to offer this unique investment opportunity to our investors. I believe that NFTs with intrinsic value will be the real growth drivers of the NFT market in future. Haru Invest aims to create an NFT market with intrinsic value and Keith Haring NFT will be the start of that.”
The NFT will be sold in a draw format, with applicants entering a pool upon application. A lucky winner will be selected at random from the pool of potential buyers to have the chance to purchase Keith Haring’s NFT.
Keith Haring NFT Sale Page.
Launched in 2019, Haru Invest is a top digital asset management company that provides one of the highest earn rates in the market on BTC, ETH, and USDT deposits. With zero security breach to-date and a convenient user experience, Haru Invest has attracted users from over 130 countries, surpassing a total transaction volume of $1 billion in Nov. 2021.
The key driver of growth has been Haru Invest’s consistent performance in the volatile cryptocurrency market. Haru Invest has been consistently providing highly competitive earn rates, over 15% APR for its lock-up products, to its investors – even throughout the recent crypto price crash in May 2021.
With ever-expanding crypto services and products, they are dedicated to creating a new paradigm in finance breaking all barriers.