Art Market Report - March 12
A weekly report on the NFT Art Market, covering 1/1s, editions and other important news.
1/1s
C3 had 2 sales on AOTM this week. The Battle Over River Z. was collected by Cyborgnomad for 11.0269 ETH and Monsters. collected by mr703 for 13 ETH, an ATH for the artist.
6 Dots by omentejovem was collected by DrLeeNFT for 17 ETH on AOTM.
Destination by Gelo was collected by DEFSTALKR for 12.1 ETH on SuperRare, an ATH for the artist.
Luck of the Pursuit by jeremybooth was collected by spacecowboy_nft for 12.1 ETH on SuperRare, an ATH for the artist.
The latest 1/1 Autodidact from batz’s portrait series The Nine was collected by MoonCat2878 for 10 ETH on SuperRare.
Health is Wealth by Lascaux was collected by kingPIXELpush for 8.054 ETH on SuperRare.
the ribs of our savior, #19 of 19 in series Legalize Ground Beef by die with the most likes was collected by OG for 8 ETH on SuperRare.
Editions
Strands of Solitude by William Mapan, a collection of 400, launched by Tonic (the art NFT community that bridges the physical and digital worlds), had 872 ETH trading volume since the launch on March 10.
Chikai launched Circle of Frens² (season 2) on March 7, a 10k generative art project that pays homage to the distinctive styles of a diverse group of artists by using the color gradient from their artworks and combining them through a series of interleaving concentric circles. It had 393 ETH trading volume since the launch on Tuesday. Circle of Frens (season 1, a collection of 500) launched on Jan 1 this year had 147 ETH (+20,458%) trading volume this week.
Materia Mania by huemin, a collection of abstract, AI generated forms set against a solid black background was dropped today March 12 on BrainDrops, a platform for AI Art. It had 585 ETH trading volume in less than 12 hours. Other older BrainDrops collections also see increases in trading volumes.
Other big news
March 11 marked the two year anniversary of the historic sale of beeple’s “Everydays, the First 5000 Days” at Christie’s.
On March 11, BEEPLE STUDIOS by beeple x Christie’s had its Grand Opening in CHARLESTON, SC.
Unit London opened Tyler Hobbs' debut UK solo exhibition 'Mechanical Hand', featuring unseen paintings and new works on paper, as well as brand new digital works from the leading Generative artist.
Foundation shipped new feature, Editions, this week.
NFT Asia partners with Sotheby’s Hong Kong on the auction The New Vanguard. The sale showcasing the works of 10 trailblazing Asian artists who consistently push the boundaries of digital art through their respective mediums, runs from March 10-15.
Hot takes of the week 🌶️
The lack of due diligence and rigor in this space
The problematic short-term mentality of art collecting
On collage/photo manipulation
Divide between AI artists and photographers
The struggle in the bear market is real.
A reminder that we are already 9 months into the bear market, and this month might be even slower than before. So if you have been feeling down for a prolonged period of time, remember it might just be because of the bear market, not because you are failing. I believe most of us are more or less struggling, losing much of the momentum and euphoria we were used to in the bull run. So be kind to yourself, zoom out to see the big picture, touch grass. If you are still here, you are winning.
Solid, once again!