Cornering The Market #100 - May 1, 2025
Art rises with Bitcoin, Autoglyph defaults, Heft's big opening, and more
A HUGE THANK YOU for sticking around and reading to my 100th newsletter! It’s bit surreal to hit this milestone and I couldn’t have done this without you all. I truly appreciate you all more than I can express <3 - Astam (Priyank)
Market Recap
Overall sentiment is up and up given the big moves in Bitcoin and what feels like some stabilization of global markets. But we have to be cautious as this week US recession fears have given people pause, including in the art buys
But art wasn't too slow as we saw some high end pieces from digital & 1/1 artists go, including 3 Skulls of Luci, a beautiful Deekay 1/1, a Ripcache 1/1, and a nice ACK 1/1. Definitely an uptick ffrom before
Also last week a nice Tyler Hobbs 1/1 sold for 140 ETH! It's been a while since a high end gen art piece sold, which I was very excited about! That being said we haven't seen huge movement from 1/1 sales
News & Events
A zero trait cryptopunk, of which there are only 8, was the big headliner selling for $500k! Congrats to the buyer in what will likely be a very good long term move
Heft, the new IRL web3 art gallery in NYC is open! They've had a couple awesome works up on display (my favorite was the release Angels & Killers by Katie Morris) - I can't wait to visit!
NFT art lending has quietly been heating up, and in one not-so-hot bit of news 4 Autoglyphs were defaulted on for a total of $960,000. A couple had recently sold for $135,000 each, so it's possible the borrowers would rather save some money than pay back the loan...
Great art, great prices - beautiful art for ~$500 or less
/// by Snowfro - 0.14E
Natural Static - 0.015E
Issues by Deltasauce - 0.12E
Torrent by Jeres - 0.2E
Exciting upcoming drops
5/6 - Echoes by Cory Haber (8NAP Art) - Beautiful work by one of my favorite artists, Cory is at it again this time with a fusion of generative art and AI with his signature blend of brilliant colors and natural scenes. I'm particularly drawn to the differences in textures
Also, Cory has been generous enough to give us 10 AL spots! Please sign up at this premint link to be eligible for spots and follow the 8NAP Art X account for updates.
Art to highlight
Strata 365 by Alkan Avcıoğlu (aka Evergreen Dazed) - Truly one of my favorite AI art collections, this one is sometimes overlooked since since it's on Solana, but that just gives us more time to collect! Brilliant mesmerizing scenes in each image will have you taking double and triple looks as the uber talented artist's star continues to rise. Definitely worth taking a look if you haven't yet.
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