Market Analysis Report (13 Oct 2021)

This segment is brought to you in collaboration with Masterpiece. To start things off we’re going to focus on Art Blocks – a first of its kind platform that hosts and publishes generative art that is minted/generated on-demand and immutably stored on the Ethereum Blockchain.

This year Art Blocks has surged in popularity – from recently raising $6 million in an equity round led by True Ventures to seeing its daily volumes soar from less than $1,000,000 – to now exceeding the $5,000,000 mark regularly. On August 29th, Art Blocks had a 7-day cumulative volume of $327,409,098 in which it recorded a staggering 27,200 sales.

One of the most popular Art Blocks ‘drops’ is The Fidenza project, which launched in June for a mint price of 0.17 ETH – or roughly $400 at the time. Fidenza’s have quickly become one of the most sought-after Art Block pieces – accounting for the majority of the highest-priced Art Blocks secondary market NFT sales. In the last 50 days, 12 Fidenza pieces have sold for more than$1m.

The largest Art Block sale of all time goes to Dmitri Cherniak’s Ringers collection, which, this week, had a record sale of 2,100 ETH or $6,940,724.79. Excluding the Fidenza’s mentioned above, the second-highest single Art Blocks sale was for Art Block’s founder and CEO Erick Calderon’s Chromie Squiggle drop, which saw token #4697 sell for 945.00 ETH ($2,784,887).

Chromie Squiggle was the first Art Blocks collection and has recently seen record sale after record sale. This started 24 days ago when Squiggle 6339 sold for 485 ETH ($1,654,906). Just 3 days later, Squiggle 7583 broke this record – selling for 922 ETH ($2,746,580). Squiggle 7583 is special as it is one of twenty Squiggles that has the ‘Perfect Spectrum’ trait – making it the 13th rarest Squiggle of the 10,00- strong collection.

Source: https://www.cryptocompare.com/email-updates/daily/2021/oct/13/