Vitalik Buterin NFT Artwork Resold for $392K, Revitalizing Struggling NFT Market
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An NFT painting of Vitalik Buterin sold for 200 ETH ($392K) on the secondary market, injecting hope into the struggling NFT ecosystem.
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The "EthBoy" NFT originally sold in 2020 for 260 ETH ($140K), breaking records at the time as the most expensive NFT artwork.
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The sale comes as creator fees have become optional for NFT marketplaces like OpenSea amid the crypto bear market.
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However, this week's buyer did pay the 10% creator royalty fee of 20 ETH ($39K) to the original artist.
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The original 2020 buyer will also receive over $13K worth of ETH as their share of creator fees based on the original agreement.