Auction Participants Paid $7 Mln For The Upcoming NFT Collection

On October 22, fans of artist Tyler HOBBS paid 1,800 ETH (over $7 mln) for 50 of the 100 "golden" tokens. The tokens will provide their holders with the ownership rights to one each of the artworks based on the artist's new collection "Incomplete Control", which will be released not until December 2021.

The remaining "golden" tokens will be randomly distributed across 50 wallets that currently hold art from Hobbs's previous NFT series Fidenza or the CryptoCitizens NFT project. The distribution is scheduled for November 5th.

Tyler Hobbs's previous NFT series Fidenza consisted of 999 NFTs, which are composed of unique generative artwork and were created using the buyer's transaction hash as input. The collection is currently showcased on the generative platform NFT Art Blocks and has been sold for over 37,000 ETH (almost $400,000).

Image: Forbes