Tyler Hobbs, Fidenza Creator, Sells $17 Million NFTs Despite Dreary Market

By Bitcoinist - 1 year ago - Reading Time: 2 minutes
Thu, Sep 29, 2022 11:24 AM

Tyler Hobbs, Fidenza Creator, Sells $17 Million NFTs Despite Dreary Market

Tyler Hobbs, a famous coder and generative artist, have partnered with Dandelion Wist, Archipelago Co-Founder, for the QQL algorithm that was able to raise a whopping $17 million on Wednesday and is still rising in trading as of press time.

The QQL project welcomes everyone to create artworks but turning your art creation as part of the official NFT collection is only exclusive to mint pass holders.

More so, the Tyler Hobbs QQL art experiment is open to NFT collectors who want to co-create artworks using the QQL algorithm that are sold using mint passes that you can grab at Dutch auctions right on the Archipelago platform.

With a Dutch auction, buyers can place blind bids within a pre-qualified set of parameters at which the final price is finalized after all bids are placed.

The auction began at around 50 ETH and was reduced after an hour until all the remaining 900 mint passes were sold out.

The auction finished at 114 ETH or roughly $18,624. Overall, the QQL project collected around 126,000 ETH or approximately $16.7 million.

More so, the remaining 99 mint passes were allocated for “surprise collaborations.”

The QQL project was able to jump in popularity alongside other blue chip or elite projects that include Bored Ape Yacht Club and CryptoPunks judging by trading volume as it was able to generate sales of roughly 15,176 ETH or roughly $20.5 million in just a couple of hours of minting.

Most holders of the QQL mint also have the Tyler Hobbs Fidenza NFT holdings, the flagship generative NFT project of Hobbs that was seen to climb enormously in terms of sales following its launch last year.

In the past seven days, Fidenza or the Art Blocks project surprised everyone with a spike of $1 million following a purchase of eight NFTs in over 48 hours. And that’s just from one wallet.

It was on Wednesday that a Twitter bot reported three Fidenza sales or transactions from a single wallet that rounded up as much as 280.50 ETH or roughly $368,623. The NFT purchase is said to be much higher in comparison to previous transactions.

The transaction has triggered a surge of the Fidenza market capitalization shooting at around $121 million or 90, 609.30 ETH.

The Tyler Hobbs project was able to generate a number of seven-figure transactions which includes one in particular that was sold in August 2021 for a whopping $3.3 million of ETH purchased by Punk6529, a pseudonymous NFT art collector that purchased an NFT art.

Original source: Bitcoinist