The market for Nonfungible Token (NFT) seems to have had a torrential rise. Frenzied buyers came up with $7 million to pour into an auction for buying 50 tokens that will place ownership for digitised art pieces. The curious fact is that the art pieces which were put up for auction in the Netherlands, have not been minted yet.
Tyler Hobbs, the mastermind behind the NFT artworks that have been popularized by the names of Fidenza, will launch a unique collection of 100 digital art pieces. His latest work collection is called Incomplete Control and it will be displayed at the Bright Moments Gallery in the bustling New York City from 9th December to 13th December.
Hobbs, the artist, has seen his fans pour in 1800 Ethereum coins and that costs around 7 Million dollars on the 22nd of October. This transaction was made while exchanging 50 of the hundred “Golden Tokens” which will confer ownership for an artwork that is scheduled to be minted while the event goes on. It goes without saying, fans are anticipating an excellent experience and they are trying their hardest to get their hands on an artwork from the collection marked from 1-50.
The aforementioned Tokens for the artworks were auctioned off by Mirror Protocol in a 90-minute-long bidding event. What started off being priced at 500 ETH per token, the token price declined to 5 ETH in the end. The auction house was able to sell all of the city tokens, priced between 30 ETH to 80 ETH each.
While 50 of the Golden Tokens have been sold, the other fifty that still remain will be distributed to 50 of the wallets which already possess art pieces from Hobbs’ previous collection “Fidenza”.
The lucky ones who get their hands on the tokens will get the opportunity to go for an Incomplete Control purchase at a 50% discount.
