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AI-Generated NFT Art Reaps Nearly $33M From Only $1K In Just Two Months
By Ell Ko, 25 Aug 2021
Screenshot via Art Blocks
After it was first minted, Fidenza #313 of the Art Blocks NFT art collection sold for 0.58 ETH (US$1,400) in early June. Just two months later, it was sold again—but this time for 1,000 ETH, the equivalent of US$3.3 million.
This week’s sale marks the collection’s largest yet, despite it having been in the NFT market since November 2020.
Although other projects such as CryptoPunks often dominate the mainstream scene, Art Blocks has been working hard in the background, amassing around US$389 million in value to date. Of that, $294 million came during this month alone, following a recent explosion in value.
The collection consists of around 140 generative art drops by different creators, Tyler Hobbs being the artist behind Fidenza #313. Hobb’s Fidenza line is made of 999 pieces, based on an algorithm that generates a unique piece when it’s minted. They all have a distinct Fidenza style, characterized by colorful rectangles and squares.
Fidenza #313 just sold for a whopping 1000 ETH ($3,345,390). The seller bought it for 0.58 ETH 2 months earlier! pic.twitter.com/1VCgwRexZC— 🏝nathanhead.eth🏝 (@NathanHeadPhoto) August 23, 2021
“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,” writes Hobbs, describing the collection as his “most versatile algorithm to date.”
Ever since its launch in June, Fidenza has quickly become a favorite. That’s pretty clear to see when considering how over the last week, three other Fidenza pieces have also sold for seven figures each, CryptoSlam reports.
[via Decrypt, cover image via Art Blocks]
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