UAE based 3F Music purchases NFTs for 993,000 USD

3F Music studio out of the UAE went on a digital collectibles shopping spree and purchased four iconic Internet memes for about $993,000. The music studio recently bought the non-fungible tokens (NFT) versions of the memes “Disaster girl,” “The overly attached girlfriend,” the two “Creepy chans” in crypto coin, ether.

The seller of the memes said that the purchases would change their lives forever, with Zoe Roth, “disaster girl” herself saying she would use the money to pay off student loans and give a portion to charity. The sales were the latest addition to the studio’s shopping spree of NFTs, which included music albums, digital art works and the 1959 space exploration cover art of Time magazine.

Artists have recently explored selling their work as NFTs to take advantage of an unprecedented rise in popularity, especially to collectors who could be genuine supporters of their art.

In a statement to The New York Times (NYT) in March, 3F Music said it was always in cooperation with “some highly knowledgeable and experienced art advisers” who had told them buying NFTs could promote their business, and support artists and the art market.

3F Music owns more than a hundred NFTs, including an NYT column that it bought for 350 ether, or about $998,500.

Artists have recently explored selling their work as NFTs to take advantage of an unprecedented rise in popularity, especially to collectors who could be genuine supporters of their art.