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.
Today, Fidenza #313 by artist Tyler Hobbs sold for 1,000 ETH, or just over $3.3 million at the time of purchase. Incredibly, the artwork was minted for just 0.58 ETH (about $1,400) on June 11, marking an enormous return on investment for the original owner.
Art Blocks launched in November 2020, but the collection—which spans more than 140 different generative art drops by varying creators—has exploded in value just over the last few weeks. According to data from CryptoSlam, Art Blocks has amassed $294 million worth of trading volume so far in August, a large majority of its $389 million volume to date. Today is the
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