Autoglyphs, the first “on-chain” generative art pieces on the Ethereum blockchain introduced by Larva Labs, have recently achieved a significant milestone with the sale of 10 non-fungible tokens (NFTs) from the collection for a total of 5,000 ETH, equivalent to over $14.6 million. This transaction stands out as the highest NFT sale since 2022 and ranks as the fifth-largest on-chain purchase to date.
While the identity of the buyer remains undisclosed, Fountain.xyz, a platform facilitating art transactions on the blockchain, revealed that the sale took place on its marketplace. Serving as a brokerage for digital art, Fountain.xyz acts as a connector for buyers and sellers of rare digital artworks.
Autoglyphs were initially introduced by Larva Labs in 2019, showcasing highly optimized generative algorithms capable of generating billions of unique artworks. Each creator of a glyph became the initial owner, and after the creation of 512 glyphs, the generator was permanently deactivated, making the glyphs exclusively available on the secondary market.
Analyzing current data from OpenSea, the Autoglyphs’ page reveals a current floor price of 230 ETH, approximately $670,000, and a cumulative volume of 22,677 ETH, exceeding $66 million.
Yesterday’s notable sale contributes to the positive momentum recently observed in the NFT market, which experienced challenges throughout 2023.
Additionally, it reflects a resurgence in Ethereum’s NFT market, with sales witnessing a remarkable surge of nearly 97% in the past week. Prominent collections such as Pandora, Nobody, and Pudgy Penguins have led this upward trend.
Following Solana’s dominance over Ethereum in December’s NFT sales, where it surpassed with a record-breaking $366.3 million, Ethereum’s recent achievements mark a resurgence in its leading position.
