- Fidenza Artist, Tyler Hobbs, auctioned unminted NFTs
- The auction raised $7 million from NFT investors by selling 50 NFTs
- The collection will be unveiled at Bright Moments gallery in New York from December 9 to December 13.
An auction sold 50 unseen non-fungible tokens (NFT) that grant ownership of digital artworks that will not be minted until December. The auction raised $7 million from NFT investors.
The New York City-based Bright Moments gallery will debut 100 beautiful one-of-a-kind digital artworks by Tyler Hobbs, creator of the popular NFT series Fidenza, from Dec. 9 to Dec. 13.
Hobbs’ fans came together on Oct. 22 to exchange and paid 1800 ETH (worth over $7 million) for 50 of 100 “Golden Tokens” granting them ownership rights to an original piece of art that was slated to be minted during the event.
There are 50 tokens in the collection, each with a number between 1 and 50 representing a specific piece of art.
During a Dutch auction conducted by Mirror Protocol spanning 90 minutes, the Golden Tokens were sold at 500 ETH each, with the price decreasing by non-linear intervals every 5 minutes until reaching a floor of 5 ETH.
Prices for all 50 tokens ranged from 30 Ethers (roughly $120,000) to 80 Ethers ($320,000).
Investors in nonfungible tokens (NFT) have piled $7 million into a Dutch auction that sold 50 tokens allowing buyers to pay for digital artworks they have yet to see.
The remaining Golden Tokens will be distributed in a random order to 50 wallets currently holding artworks from Hobbs’ previous series Fidenza and the CryptoCitizens NFT project on November 5.
People that receive the tokens will be able to buy Incomplete Control NFTs at a 50% discount compared to the clearing price at the end of the auction.
Hobbs’ previous NFT series, “Fidenza,” was a curated drop of 999 NFTs that consist of unique generative artworks created using the purchaser’s transaction hash as data input. The collection was sold for more than 37,000 ETH (roughly $400,000) and is being showcased on the generative NFT platform Art Blocks.