The Acquisition of a Complete Set of Autoglyphs for 5,000 ETH Represents the Highest NFT Sale in Two Years

A comprehensive collection of ten Autoglyphs was acquired for 5,000 ETH, which is equivalent to around $14.6 million, as reported by CryptoPotato. This transaction establishes a new standard for the valuation of blockchain-based artworks by becoming the fifth-largest purchase on-chain and the highest NFT sale in the previous two years. Fountain.xyz, a brokerage that specializes in uncommon digital art, facilitated the acquisition, which was completed by an unidentified collector with experience in the traditional analog art scene. In the future, the collector plans to showcase the artworks in institutional and museum environments.

The collector was advised by the renowned art advisor Amanda Schmitt, whose knowledge has garnered international acclaim—her credentials even included a 2017 "Person of the Year" cover of TIME magazine. Matt Hall and John Watkinson of Larva Labs developed the Autoglyphs approximately two years subsequent to their inception of CryptoPunks. In short order of 512 distinct outputs, the Autoglyphs have emerged as one of the most sought-after collections among devotees of generative art. Formerly a component of the renowned "Old School Collection," the acquired set was one of only seven and one of three developer ones that Larva Labs myself-curated and minted.

Autoglyphs have been showcased at esteemed institutions including Sotheby's and Centre Pompidou. In fact, the digital works were included in the inaugural exhibition on NFTs at Centre Pompidou, the preeminent contemporary art museum in Europe. Autoglyphs have solidified their position in the annals of blockchain art with this most recent acquisition, reinforcing their status as highly sought-after assets with secondary transactions exceeding $50 million. Autoglyphs, which debuted in 2019, are the initial "on-chain" generative artworks to be implemented on the Ethereum blockchain. In contrast to numerous non-fungible tokens (NFTs) which depend on off-chain storage, Autoglyphs are individually contained within the blockchain, thereby guaranteeing their exclusivity and proprietorship. After 512 glyphs were created using a highly optimized algorithm capable of producing billions of distinct works of art, production ceased on the Autoglyphs, which became available exclusively on the secondary market.