The coffin dance meme featuring Ghanaian pallbearers led by Benjamin Aidoo has been sold as an NFT on 9 April 2022 for approximately $1 million (327 Ethereum). The NFT was listed on Foundation by Aidoo who is the group's leader and has donated $250,000 to a Ukrainian defense charity.
What is interesting is that the contract for the NFT shows that the pallbearers received 25% of the proceeds while the remaining amount was split between 25% and 50% to two different Ethereum wallets.
"Congratulations to the official owner of Coffin Dance world fame @3fmusic. We would like to say thank you to everyone who supported our NFT, especially guys from the @Bads_Zlodei: Dmitry Makarov, Eugene Lapitsky, Mykhailo Vatazhok," reads a tweet by Aidoo.
NFTs gaining popularity
The past year has witnessed as NFTs have rapidly gained popularity. This is true, especially in the creative arts industries. Although both crypto and NFTs had been around for several years, 2021 saw the growth of several NFT marketplaces spurred on mostly by crypto art (specifically pfp NFTs).
Although not yet confirmed, the NFT is likely the most expensive in Afrika. Especially when you consider that Nelson Mandela's arrest warrant NFT was sold for approximately $100,000 while at the same auction a single Bored Ape sold for just under 100 ETH.
NFTs have been viewed as a potential life-saver for those in the creative industries as they appear to help them with the age-old problem of how they monetize their craft. Most NFTs today use the Ethereum Blockchain to host the art and the accompanying tokens and contracts. In most cases, artists also earn a percentage of income as royalties into perpetuity whenever the art is sold.
This royalty can be split, as is the case with the coffin dance NFT, and is credited to their crypto wallet automatically.
— By Tefo Mohapi