In a landmark deal within the digital art scene, a distinguished private collector has splashed a staggering 5,000 ETH (Approximately $14.6 million) to purchase a complete set of ten Autoglyphs generative art NFTs.
According to NFT brokerage platform Fountain.xyz (which facilitated the sale), the transaction occurred on February 19, 2024. This deal marks the biggest NFT art sale since 2022 and the fifth-largest purchase on-chain.
While details of the collector remain scarce, multiple reports suggest that they have a history of collecting analog art forms with which the Autoglyphs align. Reports also revealed that the collector plans to present the artworks in museums and institutional settings.
Released in 2019 by Larva Labs (creator of the famous CryptoPunks), Autoglyphs is the first on-chain generative art on the Ethereum blockchain. Autoglyphs features a collection of 512 unique artworks that boast immutability and are independent of royalty fees. Unlike many NFTs relying on off-chain storage, every aspect of Autoglyphs exists directly within the blockchain.
Notably, the recently acquired piece is one of only seven complete sets and part of the three developer sets curated and minted by Larva Labs co-founders Matt Hall and John Watkinson. This further enhances the artwork's rarity and value.
Before this sale, the set was held by the 'Old School Collection,' who had purchased it for just $1.4 million in February 2021. This indicates that the artwork has continued to grow in value over the years.
The recent acquisition marks another significant milestone for Autoglyphs, which has already raked in $50 million in secondary sales and exhibited at prominent venues, including Centre Pompidou and Sotheby's.
Overall, the record-breaking sale of a complete Autoglyphs set for $14.6 million underscores NFTs' growing value and significance in the art world.
