The world of computer-generated non-fungible tokens (NFTs) is certainly bustling, as demonstrated by the recent sell-out collection by the talented Hungarian artist, Vera Molnár, a highly respected pioneer of computer art. Molnár, in association with artist Martin Grasser, released a collection titled ‘Themes and Variations’. The art pieces centre around three specific letters: N, F, T, which have drastically redirected the artist’s life trajectory. The collection comprises of 500 minted NFTs which were all sold in less than an hour on July 26, accruing a total of ETH 631 – equivalent to just over a staggering $1.1M.
An intriguing twist to the auction by Sotheby’s was the decreasing price protocol, where each item’s price fell by ETH 0.1 every 15 seconds, attracting potential buyers with a shrewd game of patience. This continued until the NFTs were sold out or the price reached ETH 0.75.
As of this moment, 494 of Molnár’s Ethereum-based items can be found on OpenSea, the popular NFT marketplace. The total value of the available items is ETH 897. There have been 269 sales across 259 owners invested in Molnár’s work. Impressively, the floor price is ETH 6.2, a phenomenal increase from the ETH 1.28 initially recorded post-auction.
Molnár, now stepping into the world of NFTs, remains dedicated to exploring the imaginative capabilities of computer art. Her algorithmic system in ‘Themes and Variations’ is evidence of her insistence upon the fusion of traditional and contemporary methodologies, through the medium of JavaScript. This bold move also extends her lifelong commitment to exploring themes of geometry, form, and systemic disorder, all the while ensuring a touch of personal sentiment.
While the meteoric rise of NFTs paints a hopeful picture for artists and crypto-enthusiasts alike, one should tread carefully. The volatility of the crypto market could sway the worth of these NFTs drastically overnight. Also, the growing concern around the environmental impact of NFTs and cryptocurrency must be considered.
Endeavours such as these underscore the growing relationship between art and technology. The immense success of Vera Molnár’s NFT collection showcases the demand and potential of this unique art form. It also brings to light concerns that must be addressed if we truly are on the brink of a blockchain future.
Source: Cryptonews
