Art Market Report - Feb 19
A weekly report on the NFT Art Market, covering 1/1s, editions and other important news.
1/1s
CLUTCHES by XCOPY, which would be the last XCOPY 1/1 minted on SuperRare shared contract, was collected by SpartanBlack for 250 ETH. On the same day, another 1/1 by XCOPY, FOMO, was collected on the secondary market by 1492 for 234.99 ETH. The piece was previously collected by Rudy Adler for 18 ETH ($32.5k) 2 years ago.
VIII. Infinite Ceremony by Sam Spratt was collected by WCC for 154.6942069 ETH on AOTM, an ATH for the artist.
Pieces by AI artist Claire Silver was collected by JabJab for 52.69 ETH. Minted in July 2022 on SuperRare, Pieces was the artist's first minted work with DALL-E 2. i n t e r n e t, another 1/1 by Claire Silver minted in August 2022, was collected by Jklaub for 40 ETH on Makersplace.
The Getaway by 0xdgb was collected by reverse matt for 16.8 ETH on SuperRare, an ATH for the artist. In the same week, 0xdgb had another 3 sales a total of 16.85 ETH on the secondary market on Foundation.
Blissful Happy Fool, a collaboration between tjo and Ryan Koopmans was collected by Wang for 25.536 ETH.
Editions
In the past 7 days, Genesis by Claire Silver had 192 ETH trading volume; anther collection by the artist AI Art is Not Art had 72.25 ETH trading volume.
OPEN EDITION BY KEVIN ABOSCH had 7 burn/redeem events this week and 250 ETH in trading volume.
Proceed w/ Caution by Lucréce had 213 ETH trading volume in the past 7 days. On Monday the artist announced that moonbirds can now change their backgrounds to corresponding PWC colors depending on which Defy they hold in their wallets. Learn more here.
podGANs by AI artist Pindar Van Arman had 158 ETH trading volume in the past 7 days in anticipation of the artist’s new 100% on chain project byteGANs (mint date: Feb 20).
Return Of Solidity by Sam Spratt, 1 of 49 in Skulls of Luci collection, was sold to Anonymoux for 66.69 ETH.
Other big news
Cozomo de’ Medici announced that 22 works from The Cozomo de' Medici Collection have been added to the permanent collection of the Los Angeles County Museum of Art (LACMA). See the Official Medici Collection press release and full list of works donated or pledged to the LACMA permanent collection here.
Grant Yun introduced a new series focused entirely on Squiggles and is now open for commissions for people's Chromie Squiggles.
Manifold introduced new support for burning ERC-721s, learn more here.
spAce launched Foundation World spAce World, which generated over 30 ETH in sales in less than a week.
Photographer Summer Wagner had her first gallery opening.
OpenSea announced moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new).
Erick Calderon, the founder of Art Blocks wrote in a thread:
…Furthermore, this movement of blockchain powered digital art did not invent the concept of a creator royalty. Instead, a general acknowledgement within our society and emergent arts culture of the power of an artist being able to participate in their own success has coincided with the innovation presented by the NFT, which catalyzed a cultural shift towards supporting creators in a novel and transparent way facilitated meaningfully by blockchain technology. Ideally this cultural shift can and should spread into the non-digitally native art space as well, but blockchain technology should not be a prerequisite for that to succeed in either the digital or the physical space…
…It is unfortunate (but understandable) that participants, specifically marketplaces (including their stakeholders), are willing to erode their patron role and participation in the art forward track of the NFT ecosystem in exchange for short term value capture. Yes, time travels fast in crypto, but time will continue to travel, and it will feel like things slow down one day, and believe it or not many of us will still be here. But in the future there will be marketplaces that are defined as art friendly or art forward, and others that might specialize purely in gaming, or in some cases marketplaces that are recognized specifically as being art/creator/platform unfriendly. Clearly the expansion of the NFT ecosystem has shrunk moats and monopolies alike, and in my opinion specialization will define the way users buy and sell digital goods. The recent race to the bottom with creator and platform royalties and fees is in my opinion a very clear and deliberate self proclamation of marketplaces choosing to be creator unfriendly, operating in ways that facilitate and even encourage behavior that is antithetical to the longevity of positive creative economy and arts culture…
Read full thread here.
Art Market Report - Feb 19
Thanks a lot! :)
Thanks An!