Original Article Title: "Takashi Murakami to Release New NFT Artwork '108 Flowers Revised,' but Previous Smiley Flower NFT Project Stalled"

Original Article Author: Joe, BlockTempo

With the mysterious whale bidding $8.6 million to sweep NFT blue chips CryptoPunks and Chromie Squiggle, the long stagnant NFT market has recently heated up once again.

According to Coingecko's data, as of July 23, the global NFT market's total capitalization has surpassed $6 billion, doubling from a low point of about $3 billion in April. LVRG's research director Nick Ruck analyzed that this rebound is mainly in sync with the overall bullish trend of cryptocurrency and also shows that "risk appetite is recovering." He stated:

"Against the backdrop of a warming macro financial atmosphere, NFT categories with artistic and brand power will benefit first."

Market Rebound, Takashi Murakami Strikes Again

On this occasion, Japanese pop art master Takashi Murakami announced today (24) on X that he will launch a new digital collectible artwork, "108 Flowers Revised," trading card, which will be open for minting on the Base App Chain on July 31.

However, looking back at Murakami's previous NFT track record, it's not very promising, and according to the official description of this NFT, it is more of a collectible memento with commemorative value, more like an advertisement for its derivative products.

Previously Stated Might Not Release NFTs Again

Magnum Opus: Murakami.Flowers (Smiley Flower NFT)

Takashi Murakami turned his most classic "smiley flower" into a pixel-art-style NFT, part of a series called Murakami.Flowers, which has now become highly inactive.

· Twists and Turns in the Launch: In fact, as early as March 2021, he wanted to launch it, but at that time, he felt he did not yet understand NFTs enough, so he hastily canceled the project and did not sell a single piece.

· Official Debut: After studying and preparing, Murakami.Flowers was finally launched in 2022. The entire series is inspired by Buddhism's 108 worldly desires, with a total of 11,664 unique small flower NFTs.

· Initial Hype: The early days saw a frenzy of excitement, with the floor price skyrocketing shortly after launch. The floor price initially surged to 6.6 ETH, roughly equivalent to $22,000 at the time. (Current floor price is around 0.15 ETH)

Subsequent Development Stagnation

Despite a strong start, the project's later development faced significant challenges.

1. Ambitious Future Vision: Takashi Murakami planned an extensive development roadmap for the Small Flower NFT, aiming to bridge traditional and digital art and even considering future endeavors such as games, physical goods, and exclusive galleries.

2. Market Cooling Off and Price Decline: However, as the entire NFT market entered a bearish phase, prices experienced a sharp decline.

3. Acknowledgment of Commercial Failure: During a press conference in September 2023, Takashi Murakami admitted to facing a commercial failure in the NFT space. He bluntly stated that NFTs were on a downtrend and might not see future releases.

In summary, Takashi Murakami's NFT journey perfectly encapsulates the fervor and fragility of the NFT market. His entry as an art maestro brought immense attention and initial commercial success, but ultimately succumbed to the changing landscape, becoming a short-lived phenomenon.

Original Article Link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia