NFTs Created by 99-Year-Old Artist Vera Molnár Sold for $1.2 Million

cryptonews.com:

Computer-generated non-fungible tokens (NFTs) created by innovative Hungarian artist Vera Molnár sold out for ETH 631. 

Per the current prices, this is worth $1,178,520.

'Themes and Variations' collection was created by the 99-year-old Molnár in collaboration with artist Martin Grasser.

According to the auction giant Sotheby's, the collection "culminates around three letters in particular that have changed the dialogue around [Molnár's] life’s practice: N, F, T."

500 minted NFTs were released on July 26, with a starting price of ETH 20.

Per the rules of the auction, this was the maximum price each item could be bought for. The price would go down in increments of ETH 0.1 every 15 seconds until the items sell out or the price reach ETH 0.75.

The buyers were randomly allocated one of the 500 generative artworks, it said.

Currently (Friday morning, UTC), 494 Molnár's Ethereum-based items are available on the OpenSea marketplace. The total volume is ETH 897; there are 259 owners and 269 sales. 

The floor price is ETH 6.2, up a whopping 384.4% from ETH 1.28 recorded on July 26 after the auction. The highest point reached was ETH 7.49 seen earlier this morning.   

Vera Molnár, born in Budapest in 1924 and residing in Paris, is widely considered one of the pioneers of computer art. She explored the machine imaginaire method from 1959 to 1968, then entered the realm of algorithmic art and began producing computer drawings. 

She also co-developed the "Molnart" software program with her husband.

Inspired by geometry, form, and systemic disorder, Molnár explores letters that evoke a personal feeling.

Then in 2022, she entered the NFT world with her project "2% of disorder in co-operation," the first edition of which was sold at Sotheby's. 

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