NFT Investors Poured $7M Into Dutch Auction

LinksDAO Sells $10.5M NFTs for Golf Club Startup
  • NFT investors poured $7M into Dutch Auction.
  • The enthusiasts of Hobbs contributed 1,800 ETH.
  • All 50 tokens sold out at prices between 30 ETH and 80 ETH each.

The investors of the non-fungible token (NFT) have poured nearly $7 million into a dutch auction that sold 50 tokens discussing ownerships over digital artworks and that will not minted until December.

Accordingly, the artist behind the famous NFT series Fidenza, Tyler Hobbs, is in a plan to launch 100 one-a-kind digital artworks in his latest collection Incomplete Control at the New York City-based Bright moments gallery starting from December 9th to December 13th.

Furthermore, on Friday, October 22, the enthusiasts of Hobbs contributed 1,800 ETH worth more than $7 million, in exchange for 50 0f 100 Golden Tokens that permit its holder ownership rights to one of the artworks slated to created during the event. Each and individual token features a number between one and 50 that corresponds to a specific artwork from the collection.

Golden Token Sold Via Dutch Auction

More so, the golden tokens sold through a dutch auction organized by Mirror Protocol that lasted just 90 minutes. In the beginning, the token priced at 500ETH each, with the price scheduled to decline by random intervals of every 5 minutes until hitting a floor of 5 ETH. And all 50 tokens sold out at prices between 30 ETH and 80 ETH each.

Henceforth, the leftover Golden Tokens will randomly distributed to 50 of the random wallets that presently hold artworks from Hobb’s previous series named Fidenza or the CryptoCitizens NFT project on November 5. The one who receives the tokens will be eligible to purchase a 15 ETH Incomplete Control NFT at a 50% discount compared to the auction’s final clearing price.

Fidenza, Hobbs’ previous NFT series was curated drop of 999 non-fungible tokens (NFT) that consist of special and unique generative artworks developed using the purchaser’s transaction hash as data input. Hence more, the collection sold for over 37000 ETH worth nearly $400,000 and showcased on the generative NFT platform Art blocks.

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