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In less than 24 hours, a Dubai-based artist sells NFT pieces

Princess Tarfa

Kristel Bechara, an award-winning artist from the UAE and the Middle East, became the first Arab female to debut an NFT tokenized art series – and two works were sold in less than 24 hours.

Non-fungible tokens (NFTs) are digital pieces of art and other collectibles that are converted into exclusive verifiable commodities that can be exchanged using blockchain technologies.

Based in Dubai Satochi Nakamoto, Bechara's first item was featured on Foundation. App in the Beauty in Diversity & DeFi series. It was purchased less than 24 hours later by what was known as a "renowned NFT collector," who charged 1.10 ETH ($1,950) for the work of art. A second piece, the Byzantine General's Shield, sold quickly after that for 3 ETH ($5,324) to the same buyer who had previously purchased Kevin Roose's New York Times NFT article for 350 ETH ($600,000).

Her most recent piece, FOMO, is now available for purchase on the website Foundation.App.

“This work of art is a reflection of the state of FOMO, and how important the advent of cryptocurrencies and DeFi is, and by not accepting or welcoming this technology right now, collectors will not only have the fear of missing out, but they will also lose out on the chance to be a component of future,” according to the quote.

Following the selling of a collage of photographs by visual artist Beeple for $69.3 million last week at Christie's auction house, NFTs have been thrown into the spotlight.

Bechara, who already has a studio on Sheikh Zayed Road in Dubai, has recently opened her first gallery in the Dubai International Financial Centre's Gate Avenue with a brand new collection called Psychomachia.

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