Buyers Pour $7M in Purchasing Fidenza NFT Collection Even Before Seeing It

UTC by Bhushan Akolkar · 2 min read
Buyers Pour $7M in Purchasing Fidenza NFT Collection Even Before Seeing It
Photo: Tyler Hobbs / Twitter

The Incomplete Control NFT collection from Tyler Hobbs is sold even without the digital artworks being viewable.

While if you are wondering whether if the craze around NFTs is fading away, you might be wrong. Investors have recently poured $7 million into a dutch auction of Fidenza’s upcoming NFTs. Tyler Hobbs, whose “Fidenza” digital artworks and NFT series have generated over $150 million in sales, will release the next collection “Incomplete Control” on December 9, 2021. As per the initial plans, the artist will also conduct a live in-person minting event in Manhattan.

As of last Friday, October 22, buyers spent a total of 1800 ETH or more than $7 million for “golden tokens” redeemable for NFTs. Interestingly, this funding has been to digital artworks that buyers haven’t seen yet. The Dutch auction started last Friday and sold out all the Golden Tokens within 90 minutes.

The two highest NFTs sold for 80 ETH each or a staggering $322,756. The lowest NFT sold for 30 ETH or $120,846.

About Fidenza & Incomplete Control NFT Collection

Fidenza is part of a generative NFT art collection ArtBlocks. It is based on an artistic algorithm featuring a series of 999 colorful pastiches. So far this NFT collection has fetched more than 37,000 ETH, over $150 million.

Brights Moments Gallery in New York will hold the event from December 9 to December 13 unveiling Hobb’s new collection. Tyler Hobbs said that his new series of Incomplete Control NFTs reflects the theme of control in the analog and the digital world. Hosted by Arblocks, these new NFTs will feature as ERC-721 tokens. However, they won’t be viewable to the public until December.

The collection will mint a total of 100 NFTs focusing on the imperfections of the analog world. On the Incomplete control website, Hobbs said:

“Every work takes a certain amount of time to achieve impact, another length of time to achieve understanding, and a further length of time to reach exhaustion. The forces of chaos and entropy give the natural world a certain warmth, and there are patterns and lessons there that we can use. I like to introduce these elements into the digital world, and Incomplete Control continues that work.”

Last month, NFT artists Tyler Hobbs lashed out at a Solana-based NFT project SolBlocks for using Fidenza’s open-source code generating images for commercial purposes without taking Hobbs’ permission. Later, the artists also rejected SolBlocks’ offer to share profits from their sales.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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