Wednesday, October 5, 2022
HomeBusinessTyler Hobbs' Fidenza NFT project receives $1M in funding within 48 hours

Tyler Hobbs' Fidenza NFT project receives $1M in funding within 48 hours

CoinDesk - Unknown

Rosie Perper is a senior editor at CoinDesk Learn, focusing on crypto explainers for blockchains, cryptocurrencies, NFTs, and DAOs. He has been involved in breaking news, global finance, technology culture and other fields, holding a small amount of BTC and ETH.

Fidenza, a generative Ethereum Non-Fungible Token (NFT) project by artist Tyler Hobbs, has exploded in popularity over the past few days, with one wallet snapping up 8 for nearly $1 million Fidenzas.

Wednesday morning flagged a series of back-to-back purchases by Fidenza Bot, an automated Twitter bot that scans OpenSea for Fidenza of sales. Notably, 3 transactions were completed within 12 minutes, totaling 280.50 ETH (~$356,294), with an average price of 93.50 ETH (~$118,765).

All NFTs were purchased by the same wallet 808450 and at a much higher price than previous sales, which seems to be out of the question Unexpected. For example, Fidenza #459 was last sold for 0.29 ETH or about $687 on June 11, 2021. Fidenza #726 was last sold on June 14, 2021 for 1.2 parcels of Ether (WETH) (~$3,098) and Fidenza #18 was sold on July 15, 2021 for 8.5 ETH (~$3,098) $16,294).

These transactions pushed the project’s market cap to 90,609.30 ETH (~$121 million) and helped raise its floor price to 94 ETH ( approximately $116,154).

To show prosperity, the same wallet bought three more NFTs within 17 minutes on Thursday morning, each selling for at least 98 ETH (~$125,244).

Another NFT – Fidenza #136 – was transferred to wallet 808450 on Friday afternoon, leaving wealthy investors 8 Fidenza NFTs totaling 689.95 ETH (~$910,271).

Also, wallet 0x9B67e bought Fidenza #4 for 94 ETH ($124,268) on Thursday, within 48 hours for the The project injected 7.8125 ETH (~$1.03 million).

So what caused the sudden surge in interest in algorithm-based art projects? It’s unclear, though Twitter user Jollytime.eth speculated in a series of tweets that the NFTS may have been purchased by an investment firm linked to Leslie Alexander, a successful bond trader and former owner of the Houston Rockets .

The post also noted that Daryl Morey, the former general manager of the Houston Rockets, is a major player in cryptocurrencies and NFTs advocate, and spoke to CoinDesk in June 2021 about his ability to sniff out trends. Alexander’s firm, CEAS Investments and Morey, could not be reached for comment.

At the time of writing, the project has a total transaction volume of 51.5K ETH, or about 6820 Ten thousand U.S. dollars. Notably, Art blocks, the Ethereum-based NFT creation platform behind Fidenza, now ranks higher in sales than other popular NFT collectibles, including Doodles and CryptoPunks, according to Crypto Slam.

August 2021, Fidenza #13 sold for 1,000 ETH, or about $3.3 million — the highest Art Art so far Blocks sale.


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CoinDesk - Unknown

Rosie Perper is a senior editor at CoinDesk Learn, focusing on crypto explainers for blockchains, cryptocurrencies, NFTs, and DAOs. He has been involved in breaking news, global finance, technology culture and other fields, holding a small amount of BTC and ETH.

CoinDesk - Unknown

Rosie Perper is a senior at CoinDesk Learn Editor, crypto interpreter focused on blockchain, cryptocurrencies, NFTs and DAOs. He has been involved in breaking news, global finance, technology culture and other fields, holding a small amount of BTC and ETH.

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