Introduction 

The NFT market has been quiet recently, and in my opinion, this is the perfect time to observe what’s happening in the market and what is getting attention. 

Throughout the history of economic pullbacks, one surprising trend has been constant: innovation and inventions are usually a positive byproduct when pullbacks happen. 

The NFT space is still very new, and paying attention to the companies, leaders, and market during this time could prove to be valuable to see how our vertical tightens up and gets better. 

It sounds cliché, but this is healthy. 

In this article, I’m going to break down a recent auction that did get attention admist the quiet market. APENFTs auctioned off 4 one-of-one Vanity Fair NFT Covers created by various artists, and a fifth cover featuring Justin Sun. 

Each of the covers that went to auction sold for five figures, and the NFTs themselves nailed the crosssection of art, entertainment, and the crypto industry. 

What is APENFT? 

APENFT is a comprehensive platform that includes NFT trading, GameFI, and a metaverse, whose core mission is to link quality art, artists, and collectors while reducing barriers to entry. 

The platform runs on TRON, BSC, and Ethereum blockchains while using BTFS decentralized storage to safely and securely store NFTs. APENFT also leverages storage facilities for physical fine art with top-notch security. 

APENFT has a native token, $NFT, with a supply of 999,990,000,000,000 that allows holders to vote, share profits, and receive NFT airdrops. 

APENFT also recently partnered with Poloniex, which is a global cryptocurrency exchange, to help power its NFT marketplace. The marketplace went live on May 25th, 2022, and part of the excitement around the new marketplace was the auction of the Vanity Fair cover NFTs. 

Four Vanity Fair NFTs Sell for 5-figures Each on APENFT

The auctions for the four one-of-one Vanity Fair cover NFTs took place from Monday, May 23rd to Monday, May 30th with a starting bid of TRX, or about ~$120. 

Valuart curated the four one-of-one NFTs that were to be sent to auction in order to find artists who specifically aligned with the crypto-art movement. The artists closely collaborated with Vanity Fair, given the 100+-year-old magazine's iconic status.  

I encourage you to click the links to the art, as they are animated and really bring their rich detail to life. 

Below are the final prices of the sales as follows, ranked from most to least in USD: 

(1) Ludwig: $26,476

Ludwig was created by artist Von Doyl, leveraging 30 different deep neural networks, and is based on the famous original portrait of Ludwig van Beethoven. 

(2) The Plum Thief: $25,420

The Plum Thief was created by Coup of Grace, with a scene that takes place in a coffee shop. 

(3) You Say The Words That I Can’t Say: $25,420 

You Say The Words That I Can’t Say was created by The Isolationist and its design is meant to visualize the value of art that cannot be captured by words alone. 

(4) Ratty Portrait: $24,599

Ratty Portrait, created by Matteo Ingrao, plays with the physical attributes of humans and reimagines them into the artwork. 

APENFT also provided utility to the winners of these auctions, including: 

(1) An annual subscription to Vanity Fair and a physical magazine with the artwork they won 

(2) A regular edition of the Genesis NFT badge from APENFT 

(3) TRX token airdrops 

(4) Invitation to all APENFTs offline VIP events and exhibitions in 2022

The fifth and final Vanity Fair cover NFT (with a larger supply) featuring H..E. Justin Sun was sold for a fixed price of 999 TRX or about ~$80. These can now be bought on the secondary market on apenft.io: 

About APENFT

Officially registered in Singapore on March 29, 2021, APENFT is backed by the underlying technology of the TRON blockchain, with additional support from the world’s largest distributed storage system BitTorrent File System (BTFS). At the core of our mission, APENFT aims to facilitate the creator economy while catalyzing both financial and cultural inclusion in the metaverse. Our vision is to integrate both the virtual and the real worlds seamlessly. APENFT Foundation is the world’s first NFT art foundation that realizes crossover purchases. We aim to bridge conversations between stakeholders in the traditional art world and the digital art community emerging around NFTs, promote inclusiveness and diversity, broaden our multimedia audience, and increase all members’ engagement. In the future, our collection will be made available to the entire community through a series of curated online exhibitions in the metaverse.

Media Contact

Miles Wang

contact@apenft.io