Can you believe this!? Today, artist Tyler Hobbs sold Fidenza #313for 1,000 ETH, or just over $3.3 million at the time of purchase. More surprisingly, the artwork was last sold for only 0.58 ETH (about $1,400) on June 11 shortly after being minted on Opensea, making an enormous return on investment for the previous owner!
A recent resurgence in NFT market activity has seen projects like CryptoPunks, Bored Ape Yacht Club, and crypto game Axie Infinity dominate much of the conversation. But amid all that hype, the Ethereum-based generative art collection Art Blocks has quietly stacked up hundreds of millions of dollars of trading volume—and just marked its largest single NFT sale to date.
Hobbs’ Fidenza line, launched in June, has quickly become one of the most popular Art Blocks collections. Fidenza offered 999 pieces, each based on an algorithm that generates a distinctive artwork upon minting. Every piece is unique from the others, but all of them are marked by patterns of colorful rectangles and squares.
Fidenza #313 is the most expensive NFT sold from any Art Blocks drop, but it’s not the only Fidenza piece to sell for more than $1 million worth of ETH to date. CryptoSlam notes that three other Fidenza pieces have sold for seven figures each, and all of those sales happened within the last five days.