HomeCoinsEthereum (ETH)A Kanye West mural is launching as NFT on the Avalanche blockchain

A Kanye West mural is launching as NFT on the Avalanche blockchain

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Why FTXs upcoming marketplace is avoiding NFTs that offer royalties

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 of the NFT will take place on October 11 at 1 pm Eastern Time and close on October 22 at 1 pm Eastern.

The owner of the NFT will be linked to the artwork via a QR code located on the physical mural. The ownership of the NFT will be visible on the Avalanche blockchain anytime, and if it changes hands, the information tied to the QR code will also update.

The Kanye West 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 photographs from his career.

“Contemporary artists are constantly seeking new ways to challenge the status quo of art and its medium,” Peterson said in a statement. “NFTs brought in an innovative, new medium to the art world, allowing artists to fully control the distribution of their art as well as experiment with new ideas.”

While most NFTs today are built on Ethereum, other blockchains such as Solana, Tezos, and Avalanche appear to be picking up in the NFT space. American rapper Doja Cat, for instance, recently launched her first NFT collection via the Tezos-based OneOf platform. Last month, the Solana blockchain saw its first million-dollar NFT sale.

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