Malaysian art just planted a flag in the NFT world.
Red Hong Yi — the Sabah-born artist whose "Climate Is Everything" made the cover of TIME in April — has sold her first NFT, "Doge to the Moon", for 36.3 ETH, reported at approximately RM325,000. Bidding opened in late June on the Binance NFT Marketplace, and press coverage is calling it likely the most expensive NFT by a Malaysian artist to date.
The work
"Doge to the Moon" is the first piece in Red's "Memebank" banknote series — a spoof Chinese yuan note featuring the Doge meme, hand-crafted in her signature style before being tokenised. It's a knowing collision of internet culture and the traditional artefacts of value: a banknote that exists only on-chain, depicting a dog that became a currency.
Part of the proceeds will go to charity.
Why it matters
For Malaysia's creative economy, this is a proof point. NFTs give local artists direct access to global collectors — no gallery gatekeepers, no export logistics. When an artist of Red's calibre treats the medium seriously, it pulls the whole local scene forward with her. Expect more Malaysian names on the leaderboards before the year is out.