Art Market Report - November 26
A weekly report on the NFT Art Market, covering 1/1s, generative art, editions and other important news.
Another week dominated mostly by AI and generative artists, except for ACK who turned edition of 25 into 1/1/25 as a surprise, which drastically shot up the price from mint. I can’t help but wonder if 1/1/x has been one of the reasons why generative art collections have seen more tractions than 1/1s and editions. 1/1/x is a way for artists to build a well-defined theme and narrative, establish a signature style, while exploring variations and depth in the details. For collectors, it’s easier to understand the collection, have fun finding a few they identify the most with, and form a community with other collectors of the same collection. In other words, through collecting 1/1/x, collectors can express their unique identity while finding their belongings (unlike 1/1s which require more independent thinking and confidence in one’s own taste). It’s also easier to resell 1/1/x on the secondary market because of the relatively more opaque pricing and a fixed supply. 1/1/x seems to get the benefits from the both non-fungible and fungible worlds - uniqueness, community, and liquidity.
1/1s
Sunday Sermon by Grant Yun was collected by PTM for 33 ETH on SuperRare’s secondary market. With heavy influence from 20th century artists, this piece is part of the “Midwest” series, a digital exploration of the 1930s art movement of American Regionalism.
Eko33 had another 5 sales on SuperRare this week, Terra Incognita - 11 - 15, for 1.5 ETH each. Terra Incognita blends hand-coded algorithms and AI aesthetics, drawing inspiration from Bilibin's folklore and digital realms. The series challenges observers to embrace objectivity, using algorithmically retrieved colors to convey a poignant message about our endangered planet. All 15 minted works were sold out throughout the past weeks.
Encased in Synthetic Perspectives by Botto from the Absurdism series was collected for 6 ETH on SuperRare.
FRAGMENT, a collaboration between Movsum and Jesperish, was collected by 1OF1 for 5 ETH on Foundation. Impressed by each other's work and shared design language, the two artists collaborated to create this unique masterpiece. The artwork tells a story of their shared passion, influenced by EDM/hip-hop, sneaker culture, spirituality, and the modern world.
Rainisto had 2 sales on SuperRare this week. Casting Session was collected by Cyborg DAO for 2.5 ETH and Slam Dunk collected by Nerfpidgey for 2.5 ETH.
EDITIONS & GENERATIVE ART
After the release with Avant Arte, ACK revealed that the 25 Warothys were actually unique 1/1/25s: “This way, the physical remains the original, and the digitals now have a life and story of their own.” 4 secondary sales happened this week on OS, a total of 48 ETH (12 ETH each on average, while the mint price was $5,581).
Part of the Velocity Series, Trademark by Jack Butcher (collection of 10K) had a 2,582 ETH trading volume on OS since the launch on November 22. Floor is currently at 0.25 ETH. Trademark is the first generative art collection on Art Blocks Engine by Jack Butcher, exploring the intense world of high-energy racing and competitive branding.
Also part of the Velocity Series, Signature by Jack Butcher (collection of 200), had a 465 ETH trading volume on OS since the launch on November 22. Floor is currently at 3.45 ETH. Signature is a homage to the singular, defining moment of triumph in motorsport—the victory burnout.
3 Fidenza sales in the same day: Fidenza #525 (85 ETH), Fidenza #670 (72.5 ETH), and Fidenza #456 (110 ETH to seedphrase).
A fresh wallet spent 263 ETH and bought 2 Fidenzas (#525 & #670, mentioned above), 8 Anticyclones (William Mapan), and 10 Life in West Americas (Rainisto).
PROOF, EXPANDED.ART, and Foundation Herbert W. Franke released ZENTRUM by Herbert W. Franke (collection of 222), a historical work created in 1982 by computer art pioneer, scientist, and science fiction writer Herbert W. Franke. ZENTRUM had a 156 ETH trading volume on OS since the launch on November 21. Floor is currently at 1.45 ETH.
INDUSTRY NEWS
Foundation is partnering with Highlight_xyz to bring generative art to Worlds. (Learn more here)
This week was all about Jack trademarks 🫡