It is worth noting that many generative art collections have remained relatively stable in terms of value, despite a boom in some of the most sought after collections. The most valuable producer NFTs are also strong despite Ethereum’s pathetic price action in recent months: Autoglyphs, an early generative arts project started by cryptopunks maker Larva Labs, has reached a floor price of 248 ETH on OpenSE, while Fidenza NFTs The hold is a minimum price of 83 ETH. “Meridian #792” by Matt Deslauriers (source: Art Blox) During the height of the NFT frenzy in 2021, the rarest NFTs from early collections like chromy squiggle traded in millions of dollars before the broader market collapsed from exhaustion and Ethereum’s meltdown. The archetypes of Matt Deslauriers Meridian and Kjetil Golid, two other generative collections that have launched on Art Blocks, have followed a similar trajectory, with respective entry prices now at 11 ETH and 27 ETH. Snofro’s Chromie Squiggle, one of the early collections to launch on Art Blocks, has soared over the past two weeks, from a floor price of 6 ETH on OpenSE to around 11 ETH. While Avatar-based NFT projects such as Bored Ape Yacht Club make headlines, famous collections such as Tyler Hobbes’ Fidenza have helped put generative art on the map and attracted the attention of a small community of collectors. On platforms like Art Blocks, when collectors create a generative art NFT, they do not see the output until they have paid for the piece.Īlthough generative art is still a lesser-known niche within the NFT space, it has grown at an astonishing rate over the past year. The code generates unique visual outputs that can be tokenized as NFTs on the blockchain. Generative art is typically created on a computer using code in place of more traditional art mediums such as paint and canvas. As Mapen’s creations have increased in recent weeks, other generative arts NFTs have also risen in value. When a specific style of NFTs outperforms the market, other similar assets benefit from the discussion. “Dragon #51” by William Mappen (source: fxhash) The cheapest Dragons are currently priced at around 1,700 XTZ after trading under 100 XTZ at the beginning of the year. Following the rise in popularity of Anticyclone, the fxhash equivalent of art blocks in Mapon’s Dragons collection, Tezos saw a parabolic price increase. “Anticyclone #697” by William Mappen (source: Art Blox)Īnticyclone resides on the Ethereum blockchain, but like many other generative artists, Mapen made its debut in the NFT space on Tezos. In dollar terms, the floor price has risen from around $2,100 to $5,800. The floor price for one of the 800 intricately rendered art pieces climbed steadily throughout June, with the cheapest piece now priced at 5.4 ETH in the secondary market. One of the catalysts for the rally has been William Mappen’s Anticyclone, which was mined at 0.75 ETH when it was unveiled on the Art Blox platform on 29 April. Sales of creative art have boomed over the past few weeks, with many of the most sought-after collections benefiting from increased interest. Generative Art NFT Rallyĭespite the fall in crypto prices and weak sentiment across the sector, a sub-section of the NFT market is showing strength. The market cap of several popular generative arts NFTs has jumped in recent weeks. As the dollar value of assets such as ETH and XTZ plummeted, top tier producer NFTs have maintained their value.William Mappen’s Anticyclone has led a market boom that has helped rally many other art block collections. The minimum prices for many prized generative art NFT collections have gone up in recent weeks.
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