Haru Invest is announcing the upcoming sale of the Keith Haring Untitled art NFT starting December 1st to 10th, 2021. The NFT sale will be carried out by Haru Invest using a draw format. The NFT is a good investment opportunity for art lovers, mostly because of its intrinsic value.
Details of the NFT Art Sale
Haru invest announced plans to launch the Keith Haring NFT sale next week. Keith Haring was a contemporary artist that was part of the legendary New York art scene during the 1980s. Haru Invest intends to sell an NFT representing the original U_ntitled_ 1980 piece of artwork by Keith Haring.
The NFT in question contains the two-eyed smiling face. It comes with the heart icon, primary colours, and a handwritten letter to know more about the artist's character.
The sale of this NFT will be carried out in a draw system. First, participants apply to join the NFT draw pool. One of the participants in the pool will be chosen to purchase the Keith Haring NFT. Everything will be random and fair for all members in the draw pool.
The Untitled (1980) Art NFT Valuation and Investment Prospects
The NFT gains its value directly from the original piece of art and is likely a high prospect investment. Keith Haring has climbed several ranks in artist popularities. According to Artprice, Haring climbed from rank 75 to 40 between 2016 and 2021.
One of the reasons behind Keith Haring’s popularity is his artworks’ value, with the highest auction, at $6,537,500, taking place at Sotheby’s New York in 2017. With an average return on investment of 208%, his work continues to show a value increase rate above the S&P 500 from 2000 to the present.
More so, as the NFT and art market continues to expand, the holder of the Keith Haring NFT will reap the benefits. This event will open an investment opportunity for NFT lovers and other art enthusiasts to gain income.
NFT With Intrinsic Value
This Untitled NFT will have a direct link to the Untitled piece of art by Keith Haring. Hence, the valuation of the actual physical piece of art will directly affect the Keith Haring NFT. In fact, after the sale, the buyer will choose to either burn the NFT or burn the real physical asset. If the buyer chooses to keep the NFT, the original artwork will be destroyed.
"I believe that NFTs with intrinsic value will be the real growth drivers of the NFT market in future. Haru Invest aims to create an NFT market with intrinsic value, and Keith Haring NFT will be the start of that," said Hugo Lee, CEO of Haru Invest.