įidenza isn’t the only Art Blocks collection to surpass the $1 million mark with single NFT sales. I will certainly reinvest this in new and upcoming artists / donate a portion to charity. When I set this price (yesterday) I didn’t really expect it to sell this quickly. Rose is one of the most prominent Fidenza owners and admirers and has discussed the collection and interviewed Hobbs on his Modern Finance podcast. Along with the $3.3 million sale on Monday, another Fidenza sold yesterday for 777 ETH ($2.4 million) from Kevin Rose, partner at VC firm True Ventures and co-founder of Digg. Whether it sells for that much remains to be seen, but there is recent precedent for top-dollar Fidenza sales. Here’s a good example from OpenSea: Fidenza #284 was sold for 7.5 ETH ($23,400) on July 13, sold again on July 19 for nearly 18 ETH ($56,200), and then sold again on July 24 for 20 ETH (about $62,500). The pieces have quickly accelerated in value since. The Fidenza project dropped in June at a mint price of 0.17 ETH each-about $400 at the time-and sold out in 28 minutes. “Although the program stays focused on structured curves and blocks, the varieties of scale, organization, texture, and color usage it can employ create a wide array of generative possibilities.” According to Texas Monthly, the Austin-based Hobbs spent months refining the algorithm behind Fidenza. “Fidenza is by far my most versatile algorithm to date,” Hobbs wrote on the official Art Blocks project page. The lowest-priced Fidenza piece currently listed on secondary market OpenSea is listed above $550,000 worth of ETH. Tyler Hobbs’ Fidenza line, which spans 999 separate NFT pieces, has rapidly become one of the stars of the collection, accounting for four of the top five highest-priced Art Blocks secondary market NFT sales to date. The look and feel of each drop varies widely across the different Art Blocks projects, but some have been celebrated and hailed as fine art-and they’re selling for similarly towering prices, accordingly. It’s a marriage of traditional art aesthetics and blockchain data that yields something that is undeniably crypto-native. Each resulting image is different and created on the spot, sight unseen by the buyer, but there are consistent elements and repeating motifs that join them all into a cohesive project. During the minting process, the final image is generated from the script via the hash string or “seed” provided by the token. The artist creates an algorithm or script and deploys it on Ethereum, experimenting with compositional elements to develop the project’s unique style before locking the code.
Art Blocks is a generative art collection that spans a wide array of different drops by varying artists-some are flat images or interactive 3D compositions-but they’re all united by a similar origin story: every final, one-of-a-kind image is generated by the Ethereum blockchain. Now vaulted forever /TVcCmYIFuNĪn NFT is a blockchain-verified deed of ownership to a unique digital item, whether it’s an image, video file, or something else entirely. A remarkably beautiful and memorable onchain artifact now owned by legend Unmistakably one of the top 5 Fidenzas I present to you Fidenza 313, “The Tulip”. Just brokered the first 4-digit sale at 1,000ETH ($3.3M) It’s not a brand new project, but its impact in the NFT market has quickly accelerated: Art Blocks has spawned $403 million worth of trading volume so far in August, per CryptoSlam, which is more than 80% of its total since launching in November 2020.Įarlier this week, a single Art Blocks NFT sold for $3.3 million worth of ETH -a new record for the collection-and it’s one of 16 single pieces in the vast collection that have now sold for $1 million or more each. Much of the conversation around the latest NFT market boom has centered on profile picture collections such as CryptoPunks and Bored Ape Yacht Club, which have collectively accounted for hundreds of millions of dollars of transaction volume in recent weeks.īut there’s another surging NFT collection with a very different kind of allure: Art Blocks.
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