24 HOURS OF ART
Digital Art Headlines, Market Highlights, and Analysis from 3/17 - 3/18
Dog Wif $4.35M
Achi, the dog wif hat by achi_peach takes over Foundation. After top bid held at 55 ETH for a day, a late 1-on-1 bidding war between PleasrDAO and memecoin erupts, driving bidding over 1,000 ETH. Out of nowhere, third bidder GCR enters and wins with a bid of 1,210.759 ETH (~$4.35M USD).
Many ask why and/or how could such an event occur? An important piece of the puzzle may rest with meme coin $WIF. The aftermath of the auction is presented for your observation.
Voucher for 16
‘Voucher for Nibble 16’ by Stephan Vogler sells for 34.755 WETH to 00-00-00.
Via Stephan Vogler:
“The last piece of my very early Bitcoin NFT series „Nibbles“… It‘s the centerpiece of the series. It was electronically signed on 14th August 2013 and tokenized on the Bitcoin blockchain on 1st April 2015.”
Collection: Highlights
Rubber /1k by Pop Punk: 396 SOL volume, floor: 9.37 SOL
Fellowship - alignDRAW /2,709 by Elman Mansimov: 21 ETH volume, floor: 1.55 ETH
FloraForms /10k by Harto x Belvedere: 1.066 BTC volume, floor: 0.01 BTC
Fellowship - Auntieverse /1k by Niceaunties: 15 ETH volume, floor: 1.34 ETH
FLARES /512 by FAR: 0.528 BTC volume, floor: 0.06 BTC
Terraforms /9,911 by Mathcastles: 9 ETH volume, floor: 1.43 ETH
LIVE (Artcrush) - Melancholia Bay by Michael Kutsche
LIVE (Feral File) - SOUND MACHINES: Editions
LIVE (Sotheby’s) - {R(Evolutionaries);}
INCOMING (Daily) - Color Fields by Nikita Panin
INCOMING (gmScribe) - Memento Mori by Richard Nadler
INCOMING (Magic Eden) - PDF by OSF
INCOMING (Nifty Gateway) - CLASSICAL ODYSSEY - Chapter 2 by 𝐋𝖔𝖗𝖉𝖊
1/1: Highlights
Panopticon - League (Jan 2024) by Chikai: 1.5 ETH
Ekos Genesis Art Collection: 6 sales for 2.66 ETH (avg: 0.44 ETH)
Way Down Here #12 by Casey Joiner: 0.35 ETH
LIVE (Foundation) - Before The Fall by Eri Vlc: 1 ETH bid, ends 10:36am EST
LIVE (Foundation) - FOMO by Cyber Humanoid: 1 ETH bid, ends 4:04pm EST
1/1/X: Highlights
Twelvefold /300 by Yuga Labs: 0.5 BTC
Art Blocks - Chromie Squiggle /10k by Snowfro: 6.7 ETH, 5.1, 5.1, 5.1 & 4.62 WETH
The Golden Ratio /420 by Harto x VIVID: 0.2968 & 0.282 BTC
Themes and Variations /500 by Vera Molnár: 2.85 WETH to s21e
Art Blocks - Memories of Qilin /1,024 by Emily Xie: 2.689 ETH
Heurist Imaginaries /274: 2.2, 2.2 & 2.2 ETH, 2.21 & 1.88 WETH
Art Blocks - Unigrids /421 by Zeblocks: 2.05 ETH
Art Blocks - The Harvest /400 by Per Kristian Stoveland: 1.8 WETH to losthighway.eth
Mutant Garden Seeder /513 by Harm van den Dorpel: 1.5 ETH to lmaooooo
Arcus /40 by Rik Oostenbroek: 1.5 WETH
Edition: Highlights
QQL Mint Pass /698 by Tyler Hobbs: 1.86 WETH & 1.74 ETH
PROOF Collective /1k: 1.1 WETH to Mana_Kula
CHURN /97 by XCOPY: 1 ETH & 0.75 WETH
BANG_BANG /250 by XCOPY: 0.62 & 0.61 ETH to VaultwithGuido
CRAWLER /141 by XCOPY: 0.57 ETH to VaultwithGuido
SIDEWAYZ /420 by XCOPY: 0.469 ETH to VaultwithGuido
Emotional Hell /25 by Tony Babel: 0.45 WETH to JHGMS
OBLIVION /500 by XCOPY: 0.37 ETH, 0.35, 0.35 & 0.3 WETH
MAX PAIN /6,069 by XCOPY: 8 sales for 2.9 ETH (avg: 0.36 ETH)
Velocity Series: Velocity Pass /1k: 9 sales for 2.99 ETH (avg: 0.33 ETH)
Everydays: Group Effort /100 by Beeple: 0.27 WETH
Eroding and Reforming Bust of Rome (One Year) /671 by Daniel Arsham: $725 to skerr6438
LATESMOL /940 by Darkfarms: 0.22 ETH
Carbon by Pak: 0.2 & 0.2 ETH
Closing Thoughts
Achi brings out all the feels, and I empathize with a number of opinions. One that I hear a lot suggests that it is Achi *or* art. The digital sphere is far too big for that to be the case. Meme coin economies are real and understanding their relationship with anomaly auctions like this one is a fantastic 101 course to take. That course is also a phenomenal sanity check.
I’ve been speaking a lot about WETH opportunities and one of my recent examples - Arcus by Rik Oostenbroek - completed its cycle from “obviously too low WETH acquisition” to flipped to a new home.
Live Today:
1:00pm EST: ‘24 Hours of Art’ X Spaces with NorCal & Klutch and special guest Richard Nadler
6:00pm EST: Guest Appearance on ‘The Lil Nouns Show’ X Spaces
24 Hours of Art:
