Sotheby Alters Art Sale, Novice Player Makes Staggering Profit

In response to community feedback regarding a lack of diversity, Sotheby’s has announced that its upcoming digital art sale, “Glitch: Beyond Binary,” will place a focus on inclusivity. This comes after criticism of last month’s “Natively Digital: Glitch-ism” auction, which was temporarily paused due to the lack of diversity. Sotheby’s emphasizes that the sale will represent people from all backgrounds and identities, stating that it is committed to highlighting the diverse artist communities that make up Glitch Art.

On the other hand, a newcomer to the online game Illuvium: Beyond has made a staggering profit by finding the rarest character yet, the “Holo Blazing Rhamphyre.” The player found the character in a “D1SK,” a type of digital loot box containing random characters and accessories. The player purchased the loot box for only $32 and sold the character for $49,128.85, netting a profit of approximately 140,525%.

In other NFT news, the Ukrainian President has signed the country’s first NFT, a collection called “UACatsDivision,” featuring cats of the Armed Forces of Ukraine, with all funds donated to the Ukrainian military services. At the time of writing, 3,026 NFT cats had already been purchased out of the 10,000 available.

Meanwhile, Bitcoin miners have made over $5 million from creating NFT inscriptions using the Ordinals protocol, according to Dune Analytics data. Transaction fees for Ordinals transactions exploded from $1.5 million on March 10 to $5.2 million by April 12. Nearly 1.1 million Ordinals had been inscribed on the Bitcoin network, consisting mainly of jpeg images and text but also PDFs, video, and audio formats.

However, an NFT collector made a costly mistake by bidding 100 Ether (ETH), worth around $192,000 at the time of writing, for an NFT from the Gemesis NFT collection, which was intended to be free to celebrate the launch of OpenSea Pro. Some community members believe the transaction was a wash trade, while others argue that the trader simply made a mistake bidding 100 ETH instead of $100. However, another community member argued against theories that it was a wash trade since it was too risky.

Overall, the world of NFTs continues to grow and evolve, with new developments and opportunities for profit emerging regularly.


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Avalanche Launches Avaissance to Boost NFT Ecosystem

The Avalanche Foundation has launched Avaissance, an initiative aimed at supporting digital artists and boosting the growth of the Avalanche NFT ecosystem. Avaissance includes two main components: the Artist in Resident program (AIR) for over 50 artists and the Mona Lisa Initiative (MLI) to curate digital art and expand the collections of art-focused DAOs. The AIR program will provide funding, mentorship, and virtual workshops for six months to artists of any skill level. Meanwhile, the MLI will collaborate with DAOs’ curatorial teams to promote emerging Avalanche NFT artists and establish an “Avalanche Permanent Collection.”

In other NFT news, Ticketmaster has announced a new feature called token-gated ticket sales, which allows artists to reward NFT holders with exclusive benefits such as special presales, prime seats, custom travel packages, and access to unique concert experiences. This functionality was developed after American heavy metal band Avenged Sevenfold (A7X) approached Ticketmaster and its Web3 team, Bitflips, for help implementing a service that would allow holders of its NFTs – Deathbats Club, a collection of 10,000 unique Deathbat NFTs – to unlock perks and access to events. The feature works with tokens minted on Ethereum and stored in decentralized application (DApp) wallets like MetaMask or Coinbase.

Patrick Amadon, a popular NFT artist, recently withdrew his work from a major auction house, Sotheby’s upcoming “Natively Digital: Glitch-ism” art sale, to protest a lack of female representation. He shared his decision with his 142,400 Twitter followers, and Sotheby’s responded the next day by announcing that it would pause the sale to “redress the imbalance in representation within the sale” and relaunch later with a “more equitable and diverse group of artists.”

Mike Winkelmann, also known as Beeple, recently shared a video with his Twitter followers, revealing his new 50,000-square-foot studio in South Carolina. According to Beeple’s website, he will use the space to create his artwork and host events to “showcase the very best art and communities.” The website stated that they are looking to partner with the most cutting-edge artists and communities to put on events that are not possible at any other venue.

On March 25, an NFT from the popular CryptoPunks collection valued at approximately $135,000 was accidentally burned by an investor attempting the process of NFT wrapping to potentially borrow liquidity from it. While the loss was unfortunate, it highlights the importance of proper education and caution when dealing with NFTs.


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Bleeple’s “Human One,” A Sculpture + NFT Hybrid, Sold For $28.9M At Christie’s

Digital artist Bleeple cemented his place in the history books with this one. Auction house Christie’s sold his human-size 3D video sculpture and NFT hybrid in their first live event since the pandemic. The piece exceeded expectations, the projections had “Human One” selling for $15M and it almost doubled that. Does this hybrid format open a new chapter for NFT art? We wouldn’t know, but Bleeple’s piece sold alongside works from Jean-Michel Basquiat, Banksy, and Peter Doig.

Related Reading | NFTs And Play-To-Earn Are The Future Of Gaming, States EA CEO

A better question might be, are NFT artists willing to put this much effort into their pieces? 

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What Do We Know About “Human One” By Bleeple?

The real-life installation is almost 7 Ft. high and consists of four screens. It has a computer at the base. The environment the astronaut-like figure walks through is ever-changing. According to Christie’s “it’s drawn at random from a data pool of the artist’s visual creations that is accessed via the Ethereum blockchain.” Not only that, informs us that “Beeple’s plan is to shift the generative art images over time “in response to current events,” Christie’s said. The result will be “an eternally contemporary work of art.” 

But wait, why would they use the Ethereum blockchain where a normal database would suffice? We hope that the owner doesn’t have to pay gas fees for that. The clips are one minute long and the piece keeps changing 24 hours a day.  In any case, Ethereum hosts the NFT attached to “Human One.” A crucial piece of the pie, since Bleeple is known for his record-breaking “Everydays – The First 5000 Days.” It was the first NFT Christie’s auctioned and it went for $69M.  

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In any case, Mike Winkelmann AKA Bleeple described “Human One” as “the first portrait of a human born in the metaverse.” He told Christie’s, “I want to make something that people can continue to come back to and find new meaning in. And the meaning will continue to evolve. That to me is super-exciting. It feels like I now have this whole other canvas.”

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ETH price chart for 11/10/2021 on Kraken | Source: ETH/USD on

What Do We Know About The Auction And The New Owner?

According to Barrons again, “the auction focused on art created since 1980.” The event was “live-streamed to the world with specialists in London and Hong Kong manning the phones and projected on video screens in New York.“ The following videos capture all the action. In the first one, Bleeple himself gives us a backstage tour to Christie’s headquarters. In the second one, a fan screen-captured the moment in which the auctioneer sells Bleeple’s piece.

Related Reading | Why Chainlink Labs Is Collabing With Palm Network NFT Space’s Development

Why do they say $25M in the video but the official Christie’s page says $28.9M? That information is above our paygrade. We did find who the lucky new owner is, though. Crypto-focused family office Dialectic’s Managing Director, Ryan Zurrer. A notorious NFT collector that used to be the Web3 Foundation’s director. In his announcement tweet, Zurrer thanked Bleeple “for the visionary innovation, amazing new energy and hilarious positive vibes that you’ve brought to both crypto and art.

In his response tweet, Bleeple said “INSANELY HONORED to be in this collection.

That’s the “Human One” story so far.

Featured Image: "Human One" screenshot | Charts by TradingView


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Damien Hirst’s ‘Currency’ NFT drop more than 6X oversubscribed

Leading contemporary artist Damien Hirst’s NFT drop dubbed “The Currency” has been oversubscribed by more than six times.

The Currency drop consists of 10,000 unique colorful dot pattern artworks with a corresponding NFT for each piece. Applications for the NFT drop closed on July 22, and Heni Group, who hosted the sale, revealed that 32,472 people applied for a total of 67,023 NFTs. That means that many applications will either be scaled back or unsuccessful given there are only 10,000 NFTs available.

Many collectors will now have to seek out the NFTs on secondary markets.

The NFTs were priced at $2,000 each and the drop includes an interesting feature, as the artist is giving collectors one year to decide if they would like to burn the NFT in exchange for the original artwork, or keep the NFT and destroy the original artwork.

The world-renowned artist first entered the crypto space back in February this year after he started accepting payments in Bitcoin and Ethereum for artworks from a collection of cherry blossom-themed paintings.

In his new NFT venture, the artist is exploring the concept of value behind money and art, in which he asserts their value is determined by social phenomena such as faith and trust.

To loosely depict money in the artworks, there is a holographic image of Hirst in each piece, and a signature on the back, along with small individual messages to represent a serial number.

“I’ve never really understood money, it’s like you look at money, in its basic form […] all these things, art, money commerce, they’re all ethereal,” Hirst said in a video discussing the drop.

Related: Record network activity and a second NFT boom send WAX price higher

Each individual artwork is called a “Tender” and the artist recently told Cointelegraph that he would “love it” if a collector was able to use the artwork as actual currency due to its value as an NFT. However, he thinks that most people will choose to keep the artwork.

Speaking with CNBC’s Squawk Box on July 21, Hirst stated that he thinks digital art forms such as NFTs will outlive physical art galleries, as he noted that NFTs depicting “good artwork” can be easily experienced anywhere:

“I think that digital art is probably going to last a lot longer than galleries. I mean, you probably won’t be going into galleries. We’ll be sitting in bars showing each other what we’ve recently bought on our phones, and that’s kind of what we do now.”