Grimes’ significant investment in non-fungible tokens (NFTs) during 2021 proved to be one of her main sources of income. In an interview with the technology magazine Wired, the Canadian artist and producer, known by her real name Claire Elise Boucher, was asked whether her earnings from NFTs exceeded her entire music career’s earnings. She simply replied with an affirmative “yes.”
Amidst the 2021 hype, Grimes sold her NFTs under the name “War Nymph” on the Nifty Gateway platform, amassing around $6 million in total revenue.
This collection included a series of digital artworks synchronized with her music, along with a unique music video that was purchased for nearly $400,000.
Although NFTs have lost some prominence in popular culture, with their trading volume dropping by almost 50% since the year’s commencement, Grimes expressed optimism in her Wired interview that these tokens could potentially make a resurgence to assist artists in profiting from their creations.
“I’m sad about what happened to NFTs and crypto because it got polluted fast with people trying to make as much money as possible,” Grimes added. “But I do want to think about compensating artists, especially digital artists.”
Apart from solely focusing on NFTs, Grimes has a positive outlook on Web3 technology. In October 2021, Grimes, along with artist Lil Nas X and influencer Bella Poarch, participated by providing videos for TikTok’s collection of NFTs called “Top Moments.”
Furthermore, in March 2022, she delivered a speech at the Avalanche Summit held in Spain. During her talk, she outlined her intentions to produce a metaverse-based children’s book. This project would receive support from the Web3 artificial-intelligence platform OP3N and would be funded by Avalanche’s $100 million initiative aimed at fostering development on their network.