Cornering The Market #98 - April 12, 2024
Punks aint slowing down, 6529's grand reveal, and more | Cornering the Market #98
Market Recap
Ooof crazy volatility in basically all of the worlds markets has most people on pause, but the NFT art world is continuing to roar, headlined by the massive 4000E Alien Cryptopunk sales! $6m is nothing to sneeze at, though it's last sale was over $16m so a big loss (or tax loss harvest)
Other than grail Cryptopunks we are seeing a ton of sales on XCOPY early editions as the ETH plummeted down below $1400 briefly, making art a lot less expensive. The steady stream of sales shows the resilience of NFT art in downturns, which is a glimmer of hope in othewise tough times.
James Merrill's Busy was a smashing success selling all 50 pieces at a resting auction price of just over 1E. Dont' say I didn't warn you! Congrats to him and Artblocks, and the collectors who'll be able to get a brilliantly detailed plotted version of their output
On a separate point, could this be the start of art being priced in USD? Perhaps we see a resurgence on Tezos? Continue reading friends!
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News & Events
Verse announced the rollout of their marketplace which will bring together works from multiple chains including Tezos, with default pricing in USD. I love this as it allows the work to be compared more easily and brings stability to pricing with this default
Speaking of Tezos, check out our friend RD's great thread here on art on Tezos he's enjoyed lately! Many under our great art threshold
Tender.art has rebranded to Heft and now has a physical NYC gallery! Congrats to AJ Berni and team, and I look forward to seeing the space!
Great art, great prices - beautiful art for ~$500 or less
CENTS by Rutherford Chang - 0.004 BTC
AM by Andrea Ciulu - 0.045 ETH
Koripo by Rich Poole - 0.036 ETH
Undercurrent by Volatile Moods - 0.029 ETH
Exciting upcoming drops
ODLA by Milk. (Live) - The talented multi-media AI artist has released his latest brilliant AI artwork directly to the public. Each 1/1 is a haunting fusion of AI and nature that are so captivating.
4/15 - Infinite petals by Sarah Meyohas (1/1/3291) - beautiful video artworks coming out on Fellowship for 0.05E each with 100 special works that will be auctioned.
4/22 - Sketchbook B (1/1/64) and Etudes (1/1/640) by William Mapan (Verse) - I won't go too in depth since I covered these last week, but the time is near and I'm excited to see what collector's decide to mint with in Mapan's latest masterpiece. Check out our Twitter spaces with William diving into the art as well!
Art to highlight
The Doomed by XCOPY - Given all the XCOPY sales I wanted to profile one of the more iconic pieces from the leading crypto artist. The Doomed is an edition of 100 released on Known Origin pre-2019 and is one of X's most iconic works because it just hits.
It's clearly one of the more coveted early editions given it's recent sales in the 20-30E range and easily outshines some of XCOPY's other early works on KO (other than the most famous Last Selfie).
Check out this great thread on some of his earlier works to learn more.
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