Last night, Malaysian contemporary artistTouted to be the most expensive NFT sold by a Malaysian artist, this is the first work of six in her"Memebank" series, which will involve spoofing and redesigning banknotes from different countries such as the Chinese Yuan, US Dollar, Euro, British Pound, Malaysian Ringgit and Japanese Yen.
Red shares that a portion of the proceeds will be donated to Mercy Malaysia’s Covid-19 pandemic relief fund. She will also be using the money to initiate a series of community art projects here.NFT, based on the viral Doge meme featuring a Shiba Inu dog, dropped on Binance on June 27 as part of the cryptocurrency exchange platforms’s inaugural 100 Creators programme to launch the Binance NFT Marketplace.
“One concern about fiat money is the continual printing of paper money, which economists warn will lead to inflation. Collectors can also look forward to Red’s Memebank exhibition later in the year in KL which will showcase all the physical Meme Banknotes. “NFTs have been gaining prominence in the arts industry in recent times and have allowed artists to create digital certificates of ownership for their valuable work, ” she concludes.
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