Aside from the flashy NFTs that are dominating the news and marketplaces today, there is actually another type of NFT that is also selling for millions: ArtBlocks.
One of the most amazing aspects of ArtBlocks is that it’s not even a new NFT project, and yet, it is now having a big impact in the digital art industry.
ArtBlocks, which was launched in November 2020, is now selling for astounding prices. Recently, one new ArtBlock was sold for $3.3 million. Today, each piece of ArtBlocks is selling for an average price of $1 million.
The ArtBlock revolution
The ArtBlocks NFT collection comes in many forms, which include flat images or interactive 3D compositions. Tyler Hobbs’ ArtBlocks “Fidenza”, which comprises 999 separate NFT pieces, is one of the fastest-rising ArtBlocks lines today.
It became so valuable that the lowest-priced Fidenza in the secondary market of OpenSea costs $550,000.
“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,” Texas Monthly said.
Accelerated rise
Fidenza’s project has accelerated in value since it was dropped last June. Take for example its Fidenza #284, which was first sold on July 13 at $23,400. It was resold again on June 19 for $56,200. It climbed up at $62,000 when it was resold on July 24. Currently, the Fidenza #284 is priced at $627,500.
Recently, a separate Fidenza was sold for 777 ETH which is equivalent to $2.4 million at current valuation. Indeed, this ArtBlocks line is having great success as more and more investors are seeing its massive value.
“It’s all overwhelming, but we have an incredible team and are pouring our hearts into this. As a result, we are enjoying the success,” Art Blocks founder and Chief Executive Officer Erick Calderon said.
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