In a recent development that’s making headlines, a complete set of 10 Autoglyphs has been acquired for 5,000 ETH, equivalent to approximately $14.6 million.

This sale marks the highest NFT sale in the past two years and stands as the fifth-largest purchase on-chain, setting a new benchmark for the value of blockchain-based artworks.

The Collection

Facilitated by Fountain.xyz, a known brokerage specializing in rare digital art, the acquisition was made by a collector who, while preferring to remain anonymous, comes from a background deeply rooted in the traditional analog art scene.

According to a representative, the collector views the Autoglyphs as no different from a standard art acquisition and intends to exhibit the works in museums and institutional settings in the future.

Moments ago, a full set of ten Autoglyphs, minted originally by Larva Labs themselves, was sold to a Distinguished Private Collector for 5,000 ETH, making it one of the top NFT sales ever recorded onchain…
Congratulations to the buyer and the seller!

The team at Fountain is… pic.twitter.com/nZjHndQVFU

— Fountain (@Fountainxyz) February 19, 2024

The collector was represented by esteemed art advisor Amanda Schmitt, whose expertise has been recognized globally, including a feature on TIME magazine’s “Person of the Year” cover in 2017.

The Autoglyphs, created by Larva Labs’ Matt Hall and John Watkinson, emerged nearly two years after they created CryptoPunks. Comprising 512 unique outputs, the Autoglyphs have quickly become one of the most coveted collections for generative art enthusiasts.

The acquired set, one of only seven and among the three developer ones directly curated and minted by Larva Labs, was previously part of the renowned “Old School Collection.”

Autoglyphs Reach Unprecedented Heights

Autoglyphs have gotten widespread acclaim, having been exhibited at prestigious venues such as Centre Pompidou and Sotheby’s. Notably, Centre Pompidou, Europe’s largest modern art museum, featured the digital works as part of its first-ever exhibition on NFTs.

Two notable pieces, CryptoPunk #110 and Autoglyph #25, were even donated to Centre Pompidou, further solidifying the significance of Autoglyphs in the realm of digital art.

With over $50 million in secondary sales, Autoglyphs have established themselves as highly sought-after assets, and this latest acquisition only serves to solidify their position in blockchain art history.

Launched in 2019, Autoglyphs represent the first “on-chain” generative art on the Ethereum blockchain. Unlike many NFTs that rely on off-chain storage, each Autoglyph is self-contained within the blockchain, ensuring its uniqueness and ownership.

Produced by a highly optimized algorithm capable of generating billions of unique artworks, the Autoglyphs ceased production after the creation of 512 glyphs, making them exclusively available on the secondary market.

The post Autoglyphs Set Fetches Record-Breaking $14.6 Million in Historic NFT Sale appeared first on CryptoPotato.

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Filed under: Bitcoin - @ February 20, 2024 9:21 pm