Tyler Hobbs, author of the popular non-fungible token series Fidenza, will debut a hundred one-of-a-kind digital artworks from his current collection, āIncomplete Controlā at the Bright Moments gallery in New York City.
The artworks were auctioned before their release for an estimated $7 million.
Investors in NFTs have already bet on a 90-minute Dutch auction offering 50 tokens on October 22.
The digital mystery collection
Hobbs fans paid him $7 million or 1,800 ETHS in exchange for half of the 100 āGolden Tokensā that grant holders ownership rights to one of the artworks due to be issued between December 9 and December 13.
Each token is identified by a unique number between one and 50, corresponding to a particular art item in the collection.
It was estimated that each of the 50 tokens was sold for between $120,000 and $320,000. Wallets that currently include artwork from Hobbsā prior series Fidenza or the CryptoCitizens NFT effort will receive a random distribution of 50 Golden Tokens on November 5.
How does it work?
When the auction ends, and the tokens are distributed, token holders can buy an Incomplete Control NFT for 15 ETHS, or 50% off the final clearing price.
Hobbs describes this project as an exploration of themes of imperfection and how the digital sphere may transcend many physical world imperfections.
For his last NFT series, Fidenza, Hobbs picked 999 NFTs, each including an original piece of artwork generated using the purchaserās transaction hash.
The exhibition was sold for more than 37,000 ETH (about $400,000) and is currently on display on Art Blocks, a generative NFT platform.
In September, Hobbs sued SolBlocks, a Solana-based NFT initiative, for unauthorized use of Fidenzaās open-source code to generate images for commercial reasons.
Hobbs has since declined SolBlocksā offer to share revenue generated by their sales with him.
Image courtesy of Cointelegraph News/YouTube
Source: https://bitcoinerx.com/blockchain/an-nft-collection-has-sold-for-a-cool-7-million/
