Art Market Report - 2/5/2023
A weekly report on the NFT Art Market, covering 1/1s, editions and other important news.
The big 1/1 sales
The 1/1 art market was slow this week, with most of the activities going into OEs. The interest in Generative and AI art remains strong.
Botto had another 4 sales on SuperRare this week, a total of 66.4 ETH. 2 of them were bought on the secondary market.
Programmer & computer artist Lars Wander launched his first series Light Doesn't Bend That Way on SuperRare. All 6 pieces were sold, a total sale of 53.01 ETH.
AI artist Pindar Van Arman sold 2 pieces to MoonCat2878 on SuperRare, a total sale of 42 ETH.
The Spiral by pho was sold to zepump for 21.69 ETH on AOTM.
Editions
Open Editions
We see a lot of artists doing OEs this this week. Here are some of the notable OEs:
FOREVER MART by MadDogJones. Price: 0.099 ETH, total minted: 4,532. Single edition Forever Mart [CLOSED] was gifted to the person who minted the final Forever Mart.
THE COLLECTOR by Victor Mosquera. Price: 0.069 ETH, total minted: 3,250. “As this project evolves, we will get to explore together how being an art collector can be visually represented in many different ways depending on the collectors motives. The artworks stemming from this edition will be iterative and an evolution of this artwork.”
negotiations with the abyss, vol. 1 by die with the most likes. Price: 0.069 ETH, total minted: 1,772. “Coming in February… Trade books for shiddy Prizes at the County Fair Flea market.”
BOUNCE 🌈 by Ryan Talbot. Price: 0.08 ETH, total minted: 1,278. “No roadmap. No utility.”
ABANDON NORMAL INSTRUMENTS by Reuben Wu. Price: 0.069 ETH, total minted: 1,438. “This open edition holds possibilities for projects and collaborations in the future, but for now, I hope you collect the piece because you like the art or wish to show support.”
Other Editions
The Memes by 6529 continuing its top tier curation, had 1,135 ETH trading volume in the past 7 days. Meme Card #61 is from tjo, survive at all cost. Most importantly, tjo donated all of the primary proceeds to various mental health organizations through the index made available by The Giving Block. Over $64k was raised in the drop. “I decided to make a card on the condition that there would be a definite purpose. It seemed natural to address mental health as it has been the center of my work for years.”
Art Blocks collection The Harvest by Per Kristian Stoveland saw 732 ETH trading volume in the past 7 days.
NessGraphics Open Editions saw 342 ETH trading volume in the past 7 days. The first burn event happened on Jan 30 was to Burn 5x M0N3Y PR1NT3R G0 BRRRRRR. to receive 1x M0N3Y PR1NT3R G0 BURNNNNNN.
Gazers by Matt Kane saw 134 ETH trading volume in the past 7 days.
Last Selfie (editions of 10) was acquired by 6529capital szn4 vault from Kevin Rose.
Industry news
Manifold to be introducing a small flat fee (~$1) charged to buyers of items per edition minted.“Deploying a smart contract and minting NFTs via Manifold Studio will ALWAYS BE FREE. We think things like 1/1’s, series and batch mints from studio, and airdrops are important elements of our ecosystem to always keep free for creators.” Learn more here.
It’s hard to not see how much Manifold has grown during the past few months (in the bear market!). More and more artists conduct limited & open edition drops via Manifold - minting on their own customized smart contracts, announcing directly to followers & potential buyers through their own social channels and deploy various kinds of mechanisms enabled by Manifold. While in the past years, most artists had to rely on centralized, custodial platforms such as NiftyGateway to coordinate and market the drops, or mint on OpenSea’s shared contracts. We also see an increasing number of artists minting their 1/1s on Manifold, as collectors grow to prefer the artist contracts to platform contracts. On AOTM, artists mint on Manifold; SuperRare also supports integrating and aggregating Manifold contracts. Manifold truly enables the web3 decentralizing ethos “The artist is the platform” and we hope to see it prevail.
Recommended reading
Grant Yun celebrated 2 year anniversary in NFTs.
The story of Skulls of Luci, a collection of 1/1s that started the trend of bidders editions (according to Medici Minutes).
thanks for doing this An!
❤️🔥👌