Artist Jason Peterson, who recently painted a mural of American rapper Kanye West in Chicago, is selling the artwork as an NFT on the Avalanche blockchain.
The NFT will be sold on a new marketplace called YeahProbablyNothing.com, developed by Peterson, NFT startup Kalao and Ava Labs, the development team behind Avalanche.
The auction for NFT will take place on October 11 at 1 p.m. ET and end on October 22 at 1 p.m. ET.
The owner of NFT will be linked to the artwork via a QR code located on the physical mural.The ownership of NFT will be visible on the Avalanche blockchain at all times, and if it changes hands, the information tied to the QR code will be updated.
Kanye West’s mural is Peterson’s first NFT piece. The artist, who has 1 million followers on Instagram, plans to launch more NFTs featuring some of the best photos from his career.
“Contemporary artists are constantly looking for new ways to challenge the status quo of art and its medium,” Peterson said in a statement.” NFTs bring an innovative, new medium to the art world, allowing artists to take full control of the distribution of their art and to experiment with new ideas.”
While most NFTs today are built on ethereum, other blockchains such as Solana, Tezos and Avalanche seem to be picking up in the NFT space. Last month, for example, American rapper Doja Cat launched her first NFT series via the Tezos-based OneOf platform. Last month, the Solana blockchain saw its first million-dollar NFT sale.