On Monday (Feb. 8), Nifty Gateway collector Retrodigital (@retrodigital) made a $14,000 global offer for the NFT “POLITICS IS BULLSHIT” by Beeple.
For the unfamiliar, Beeple is one of Nifty Gateway’s hottest artists. For example, his December 12 drop sold over $500k in approximately 5 minutes. Beeple’s art is a staple for flippers and holders alike, with limited edition runs quickly holding and increasing in value as Beeple’s popularity explodes.
“POLITICS IS BULLSHIT” was in Beeple’s first drop on Nifty Gateway, and is unique both for its quality and timeliness as an art piece, as well as its surprising price at the time of $1.
Beeple describes the work best, in his own words:
“ok first off it’s a fucking dollar, if you need extra convincing from some BS artist’s notes wether you want to spend a dollar on this i will punch you in the god damn face. smash the buy button ya jabroni.”
The art piece rapidly sold out, and caused quite a bit of controversy on discord. The secondary market quickly turned over many of the pieces, as the original owners made smaller gains, without realizing the ultimate value of the piece. It was a classic example of the market wildly swinging trying to price the piece. Lower numbered pieces appear to be more valuable, as they show more legitimate interest in the initial Beeple drop.
NFT Culture staff will be watching the global offer very closely, as staff has been interested in acquiring an edition of the work for its in house collection. We expect that there will not be any takers at $14,000.
Update: NFT Culture staff retains a work in the limited series Politics is Bullshit.
Update 2/11/2021: @Retrodigital managed to acquire a work in the series for $29450.
Update 2/22/2021: After news of the Christie’s auction became public (See: #1 on NFT Culture News – February 2021) a run on works in the series occured, with all available pieces in the edition with asking prices below $100,000 being purchased. A Global Offer of $100,000 went unanswered for almost 2 days.