takashi-murakami-releases-new-nfts-a-week-after-apologizing-to-his-previous-nft-investors-for-crashing-prices-–-yahoo-news

Famed Japanese artist Takashi Murakami released his newest collection of NFTS called “Lucky Cat Coin Bank” on Tuesday despite apologizing to his crypto investors earlier this month for “stagnant” prices.

The newest drop features pixelated versions of the iconic Japanese maneki-neko — meaning “beckoning cat” — figurine, which is supposed to bring good luck to its owner.

While its current floor price of 0.74 ETH (approximately $1,111) sounds impressive, Murakami was receiving bids of upwards of $260,000 for his designs just over a year ago.

The artist was initially inspired to enter the non-fungible token (NFT) space back in the spring of 2021 when he witnessed a Beeple NFT sell for $69 million in crypto at a Christie’s auction.

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The following months marked a manic global demand for NFTs; however, the artist withdrew his work during this time to perfect his designs.

Murakami launched his Murakami.Flowers collection in March after spending the year revising.

The virtual currency world, however, has come to a crashing halt in recent months. This unfortunate timing also caused Murakami’s much-anticipated drops to experience price plummets.

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In a post dedicated to his “dear holders of Murakami.Flowers” on June 8, Murakami posted on Twitter that he appreciated the “continuing patronage” even while the project’s floor price and transaction prices remained “stagnant.”

“I am very sorry,” he wrote alongside a screenshot of his official OpenSea page displaying price drops.

The apology appears to have not affected Murukami’s output, however, with him continuing with the release of his latest NFT collection.

Featured Image via HYPEBEAST