NFT Collector Buys 10 Autoglyphs Worth 5,000 ETH

NFT Autoglyph, the first collectible on the Ethereum blockchain. (Photo; Doc. Coin Republic)

JAKARTA - Blockchain-based digital art has again set a new record with sales of 10 Autoglyphs, the first fully created collection of generating art NFTs within the Ethereum blockchain. Anonymous collectors pay 5,000 ETH, equivalent to around IDR 78.4 billion, to get the complete set of these rare works.

Autoglyphs is a generative art project launched in 2019 by Larva Labs, a company that also creates CryptoPunks, one of the world's most popular and expensive NFT collections. Autoglyphs consist of 512 unique artworks produced by algorithms running on the Ethereum blockchain.

Each Autoglyph is an NFT containing original data from the artwork, which is irreversible or removed. Autoglyphs also do not depend on external storage or servers, meaning they are truly on-chain and are not susceptible to loss or damage.

The sale of these 10 Autoglyphs is facilitated by Fountainin.xyz, a platform that connects digital art collectors with sellers. The buyer is a collector who wants to remain anonymous, but is known to have a background in the world of traditional art.

According to Amanda Schmitt, an art advisor representing the collector, Autoglyphs is considered a valuable and historic work of art, which is equivalent to the acquisition of conventional art. The collector also plans to showcase Autoglyphs in museums and art institutions in the future.

The set purchased by the collector is one of seven complete sets in the market, and one of three sets curated and manufactured directly by Larva Labs. The set was previously owned by the "Old School Collection", a well-known NFT collection that also has several CryptoPunks.

Autoglyphs have received recognition and praise from the world of digital art, and are exhibited in several prestigious places such as the Pompidou Center in Paris and Sotheby's in New York. In fact, two Autoglyphs, namely 110 and 25, have been donated to the Pompidou Center as part of their digital arts collection.

With the sales of these 10 Autoglyphs, Autoglyphs' total secondary sales volume reached more than 50 million US dollars (around Rp. 782 billion), making it one of the most searched and valuable NFT collections on the market. This sale also ranks fifth on the list of largest on-chain NFT purchases, according to data from CryptoSlam.

Autoglyphs show how innovative and diverse generative art is made with blockchain technology. With its limitations and uniqueness, Autoglyphs is one of the most influential and historic NFT collections in the world of digital art.