Shavonne Wong’s One‑Minute NFT Bonanza
Picture this: it’s January, before Terra Luna’s heart‑breaking collapse in May, and Singapore’s own NFT superstar Shavonne Wong drops a collection called By Proxy that sells out faster than you can say “cryptocurrency.” In just sixty seconds, she snapped up a global fanbase and moved 60 unique pieces of art into the hands of crypto-enthusiasts.
Why the headline was worth a gazillion
- Per Piece: 1.25 ETH (about US$3,500 or S$1,850)
- Total Sales: 75 ETH, topping $200,000
- Creator Power Couple: Shavonne teamed up with the hotshot photographer Lenne Chai. Together, they crafted 60 images of a school‑girl protagonist stepping into adulthood against familiar Sri‑lankan backdrops. It was part art, part digital life lesson.
Wong’s fame factor
Shavonne’s tracks had already been charted in the NFT world thanks to breakthrough moments like Idris Elba grabbing her first three NFTs from the LGBTQ‑friendly series Love Is Love. That blockbuster piece not only spotlighted diverse characters but also earned the endorsement of a Hollywood icon.
The crash that slipped away
All that glimmer vanished when TerraUSD started blowing out its stability during the first week of May 2022, wasting a whopping US$18 billion from the market. Since then, Wong hasn’t launched anything new, and the general sentiment in the NFT community has shifted to a muted sales slump.
According to the data portal NonFungible, daily NFT sales fell over 90% from its September 2021 zenith of 225,000.
Wong’s take
Instead of riding the rollercoaster, Shavonne has been sharpening her 3D skills. “I know that whatever happens, I’m building skills that can step in for a commercial gig if the need ever arises,” she says.
Unity in the art‑chaos
At NFT Asia, a Discord community hosting thousands of creators, the recovery stories are all in. Some folks have quit altogether; others have lamented the hard realities like suicidal thoughts—an all‑too‑common headline after the crash.
However, for Shavonne and most others, the mindset is simple: the technology that powers these tokens still holds promise and opens doors to new ways of selling art. “We’re all about the tech’s potential and the creative freedom it affords,” she shares. And that hope is the ticket to future galleries—just maybe with fewer crashes.
How NFT art has changed the rules
When NFTs Finally Opened the Doors to Artists
The Old Art World Was a Heavy‑Handed Gatekeeper
Picture a world where a museum’s nod was the golden ticket to fame: you’d have to line up behind museum gatekeepers, critics, and collectors before you could show up at an art fair. It was a straight‑up elitist club that sometimes left graphic designers and digital artists on the outside.
Why It Was Frustrating
- Only a handful of “big‑name” artists were chosen to shine.
- New media such as pixel art or interactive installations were often dismissed.
- Struggling artists had to chase traditional paths, even with all the fancy digital tools at their fingertips.
Enter NFTs: The New Power‑Up
One year ago, the NFT craze came along and flipped the script. Suddenly, an artist who’d been in the shadows could grab a spot on a global stage by auctioning a digital asset on OpenSea or Rarible. The math was simple: create, list, and the world could see you instantly. No lengthy gallery negotiations, no waiting for a museum’s “maybe.”
Big Art Fairs Get Digital Rooms
- Art Basel, and others, are now hosting NFT‑specific showcases.
- Full‑time agency jobs? Many artists are giving them a bow and earning an income purely from creating and selling NFTs.
- Not all artists throw away the old tech; most are keen to keep the minting benefactor that’s been glowing in their wallets for the past year.
Speak Cryptic: Singapore’s NFT Trailblazer
Farizwan Fajari, better known as Speak Cryptic, was already a household name in contemporary art before he dove into the NFT world. He’s proud to be one of Singapore’s first artists to sell an NFT online.
His Take on the NFT Shift
“A lot of us are taking a step back—to figure out what to do next. Do we be the space-oddity rebels? Would it be a total waste to keep chasing NFTs if we’ve already spent a year building a strong base?”
“While stuck at home during the pandemic, we created NFTs, and the success blew doors open for non‑NFT commissions as well. Now that restrictions are easing, those avenues are even bigger.”
His Avatar Series’ Sweet Success
Speak Cryptic’s “Current Surface” series, consisting of 50 avatars, hit the market hard. The first of those was snagged by the famous crypto artist XCopy, and the buzz kept the series selling.
Yet standing out in the crypto playground isn’t just about offering rare prints. It requires daily hustle on Twitter and Discord—those are where the community lives and breathes. And while the market’s current lull feels like a break, Speak Cryptic is returning to his “first love” of painting, proving that we can juggle social media, NFT sales, and traditional art all at once.
Bottom Line: NFT Isn’t the End, Just a New Chapter
Artists are riding the wave, but they’re also remembering that art is more than a badge on a blockchain. Whether it’s painting on canvas or minting a meme‑block, the world is a lot less gated now—and a lot more fun. Let’s keep creating, engaging, and maybe (just maybe) stepping away from that old gate‑keeping system that was, for years, a little too henpecked. And hey—if the NFTs keep buying us a living, we’re done forever chasing “born in the wrong era.”
Flight to quality in the NFT art world
Why NFTs Are Suddenly Trying Harder to Look Like Real Art
So, here’s the scoop: Chong Huai Seng—one‑time investment banker turned art‑guru and co‑founder of The Culture Story—recently made a tidy profit by flipping Jonathan Leong (aka ZXEROKOOL)’s digital masterpieces. He points out a big shift in the market: collectors are now acting like picky critics, only buying NFTs that feel genuinely art‑worthy.
Collectors Going High‑Brow
- Collectors are demanding “realness” and historical relevance.
- Unit London’s latest venture—digitally reproducing Da Vinci, Raphael, Caravaggio and more—was a hit because it was approved by the museums themselves, not just a random fan‑made picture.
- These pieces never leave the actual museum; they’re high‑resolution, perfectly proportioned, and come with a special frame. Talk about authenticity!
- What you’re really buying is the next best thing to a painting that hangs on a vault‑secured wall.
In short, the law of supply and demand still applies, but now the requirement is “quality over hype.”
Artist‑Level Reality Check
Jonathan Liu from NFT Asia stresses the “bear‑market” reality:
- Fewer collectors are willing to spend big bucks on NFTs.
- Artists must be “extra worthwhile” to get attention—a comparison shot straight from Singapore: you’re only going to get a patron to pay S$8 for your chicken rice if it’s the best stall on the block.
- The media’s busy shouting about blue‑chip works like Bored Apes, which went from 150 Eth to 85 Eth—implying high risk and liquidity problems.
- Meanwhile, independent artists are still making solid work and selling it at reasonable prices.
NFT Asia’s Fundraiser Vibes
Last year, NFT Asia kicked off the Fundraiser 2022, raising enough to send its members to NFT.NYC in New York. The fundraising gig brought in buyers for works by artists such as Bluugu, Noealz, and Stw.wts that sold for under five Eth—proof that quality content still attracts cash.
In the backdrop, the Superchief Gallery partnered with NFT Asia to showcase the NFTs of roughly 22 Asian artists, making it a showcase that’s as diverse as it is exciting.
Bottom line: If you want to sell NFTs that actually matter, focus on authenticity, relevance, and a dash of creative flare. Collectors will notice the difference—and dig it.
Reasons for optimism for NFT art
Art Basel Hong Kong Gives NFTs a Standing Ovation
TL;DR: TZ APAC’s full‑blown NFT showcase at Art Basel Hong Kong proves that digital art is no longer just a crypto‑crunch tactic. But regulators are watching closely, and some artists worry about future red‑tape.
What Went Down at the Event
- From May 27‑29, the Asia‑based blockchain arm of Tezos, TZ APAC, rented a large booth at Art Basel Hong Kong.
- Twenty artists displayed NFT and generative masterpieces—think colourful code‑generated canvases and pixel‑perfect portraits.
- Singapore’s own Yeoh Shih Yun bobbed her head and said, “Turning digital brushes into genuine artwork is redefining legitimacy beyond just crypto circles and endless scrolling on socials.”
Why the Team is Stoked
David Tng, head of growth at TZ APAC, reminded everyone that the NFT craze isn’t new. “We’ve seen a market bubble before the $69 million Beeple auction at Christie’s. NFTs exist long before that hype,” he explained.
He added with conviction, “Our faith in NFTs isn’t just a bet on art; it’s a bet on the artists. We’re helping creators rename what ownership feels like, turning every minted token into a step toward collective empowerment.”
Regulators Keep an Eye on the Scene
At the Asia Tech x Singapore Summit in May, Deputy Prime Minister Heng Swee Keat announced a pilot project on financial asset tokenisation. Yet, he warned, “Retail investors shouldn’t jump into cryptocurrency. The caution is real.”
These comments echo a long‑standing stance from the Monetary Authority of Singapore, stressing that crypto remains a high‑risk playground.
Concern from the Artist’s Frontline
Co‑founder of NFT Asia, Liu, expressed a cautious hope. He mused, “Policymakers might see crypto in macro terms, but they don’t always understand how a single NFT can pay a small vendor’s rent or fund a solo artist’s studio.”
He warned: “If future rules turn selling a $20 NFT into an ordeal of paperwork, we’ll see the creative spirit die. That’s what I’m trying to avoid.”
Bottom Line
While the art world embraces NFTs with excitement, the looming regulatory cloud reminds us that every new digital brushstroke might need a brush‑cleaner of caution. The balance between freedom and compliance will decide how sassy this landscape will stay.
