In one minute, Mig Mora earned more money than he worked in the whole year before.
On August 18, Mig Mora, a rapper from Chicago, USA, released an album of 7 songs and related publications in NFT format, under a virtual incarnation called Spottie WiFi. A total of 2,000 NFTs were sold out within one minute of the sale, brought back to Mora 192,000 USD.
This is an unbelievable number for Mora, who gave up her passion for art nearly 10 years ago.
Immersed in Chicago’s hip hop culture from an early age, Mig Mora, along with the rapper community where he studied, toured the city in the early 2010s. After graduating from law school, Mora released her first solo album and own a street fashion label that is widely recognized in the underground world.
Everything seemed to be going well, but then Mig Mora was forced to end her career because she could not sign a contract with any major record label. The passion cooled down almost a decade back when Mig Mora bought an NFT called CryptoPunk number 5528, now known by the stage name Spottie WiFi.
Fate with NFT
Coming to the crypto world at the end of 2017, Mig Mora invested a lot of money in Bitcoin just before the big slide happened. On the advice of friends, Mora decided to keep the coins she had, even buying more in the next 2 years waiting for the price to increase again. Until January 2021, Mora started to earn a profit from the investment 4 years ago.
Portrait of Mig Mora in 2013, while still active in the music world. Photo: Chicago Now.
Mora got to know NFT through friends who shared the same hobby of collecting NBA baseball star cards. Introduced CryptoPunk, Mora decided to invest in this NFT and believe in their historical value.
Of the many facial features the CryptoPunk collection owns, Mora noticed that the pimples (spot, the origin of the name “Spottie”) appear on only 124 versions. However, not many people like this feature, so their prices are very cheap: Mora bought them all for only 27 ETH, which is almost 40,000 USD. The deal was a huge success, spurring him into the world of NFT.
Virtual rapper career
In 124 NFTs with acne, Mig Mora has a special affection for CryptoPunk number 5528 and decides to turn this face into the number one rapper of the NFT world. When he heard Mark Cuban rapping about CryptoPunk, Mora knew this was his chance to live his passion again.
He contacted his former boss Stefan Clark, presented a bold idea: to become a virtual rapper in the form of NFT. Clark was immediately convinced and the two started the Spottie WiFi project.
Spottie WiFi in her first virtual concert.
Spottie WiFi debuts with single I’m Spottie, inspired by hit My Name Is of the legendary Eminem, followed by various remixes. Initially, Mora intended this to be his first NFT collection, but after some consideration, he believes that this alone is not enough to turn Spottie into a real rapper.
At this time, Mora participated in many rap battles on Discord, where he attracted a certain number of fans. Besides, Mora also writes and performs Christie’s (PUNKS Anthem), The theme song for the NFT series is titled PUNKS Comic: The Hunt for the Lost Robbies.
This long-awaited project has become one of the most successful NFTs, bringing Spottie’s name to a wide range of art-loving investors. In fact, the series came out after the single I’m Spottie only 3 weeks.
A week later, auction house Christie’s held a CryptoPunk auction in New York City. Mig Mora rented a truck promoting her debut single, and parked it right in front of the auction site. As a result, his single cover appeared in many major newspapers, bringing Spottie WiFi to the masses.
“Everything happened so fast”
According to Mora, the biggest difference between NFT and other media like MP3 lies in ownership. When purchasing a song as MP3, the user only has the right to listen to the work. With NFTs, owners are free to use them in personal commercial projects such as movies or concerts.
Besides the 7 main tracks, each album sold also contains many unique remixes, characteristics that make an NFT valuable.
In addition, NFT buyers also receive a vinyl copy of the album. In just about a minute, more than 2,000 copies of NFT were sold out, bringing back Mig Mora 192,000 USD.
“I think it all sold out in less than a minute, but it happened so quickly that I’m not sure. If you had told me a few weeks earlier that the music would sell so quickly, I would have been surprised. “, Spottie WiFi recounts.
Spottie WiFi and other CryptoPunks.
There are 700 Spottie WiFi related NFT collectors right now, average spend per person 300 USD. According to Mora, the big artists lose too much income to the record label and the manager. NFT allows creators to connect directly with fans who really care and are willing to pay for their artwork without any interference from 3rd parties.
Mig Mora has an optimistic view of Spottie WiFi’s career in particular and the future of art NFT in general. Spottie WiFi doesn’t stop at hip hop but will make its way into cinema and even television. Besides, Mora also cherished many own projects, told his own story as well as the history of NFT’s formation, in order to thank the community for him today.
Simple photo auctioned for millions of dollars
NFT project named N reached a market capitalization of 40 million USD. However, these are just pictures showing the numbers.