1. Home
  2. Art Blocks

Art Blocks

Million-Dollar Digital Collectibles: An In-Depth Look at the Top 10 Most Expensive NFTs Sold This Year

Million-Dollar Digital Collectibles: An In-Depth Look at the Top 10 Most Expensive NFTs Sold This Year2021 is coming to an end and one prominent theme this year in the world of cryptocurrencies and blockchain technology most definitely belongs to non-fungible token (NFT) assets. This year NFTs became a billion-dollar industry and many NFTs have sold for millions of dollars. The following is a look at the top ten NFTs, in […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Galaxy Digital Plans to Raise $500 Million in Debt Market to ‘Accelerate Growth Initiatives’

Galaxy Digital Plans to Raise 0 Million in Debt Market to ‘Accelerate Growth Initiatives’Galaxy Digital Holdings Ltd. has revealed the firm is looking to raise $500 million in an exchangeable senior note offering. The investment company, founded by billionaire investor Mike Novogratz in January 2018, aims to use the funds to “accelerate growth initiatives across its business lines.” Galaxy Reveals Exchangeable Senior Note Offering The investment firm Galaxy […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

NFT-Collateralizing South African Startup Raises $5 Million in Latest Seed Round

NFT-Collateralizing South African Startup Raises  Million in Latest Seed RoundA South African startup, NFTfi, is reported to have recently raised $5 million which the company intends to use for boosting its business of collateralizing non-fungible tokens (NFTs). Cryptocurrency Loan Marketplace According to a Techcrunch report, NFTfi’s $5 million capital raise was led by U.S. actor Ashton Kutcher’s Sound Ventures. The other investors that participated […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Bored Ape Yacht Club Records $542 Million in Lifetime Sales — BAYC Creators to Launch Token in Q1 2022

Bored Ape Yacht Club Records 2 Million in Lifetime Sales — BAYC Creators to Launch Token in Q1 2022Non-fungible token (NFT) assets have been extremely popular in 2021 and it doesn’t seem like the NFT hype is going away any time soon. A number of NFT collections have propelled the industry to new heights with enormous sales, outpacing some of the most popular auctions selling physical items. One specific NFT project called Bored […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

These 3 NFT Projects Collectively Captured Over $10 Billion in Sales

These 3 NFT Projects Collectively Captured Over  Billion in SalesNon-fungible token (NFT) assets have taken the world by storm in 2021 and three current projects in the NFT universe have seen sales stretch into the billions. Statistics show that the NFT marketplace Opensea, the blockchain NFT game Axie Infinity, and the digital collectible series Cryptopunks have collectively captured over $10 billion in sales. Opensea, […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Fidenza artist slams knock-off NFT project from ‘honest pirates’ on Solana

SolBlocks admits that while they did pirate the code, their NFTs are not copies of Tyler Hobbs’ Fidenza collection.

Tyler Hobbs, the artist behind the popular generative NFT series Fidenza has slammed a Solana-based project for utilizing his code to produce knock-off artworks without his approval.

The Fidenza series is a curated drop of 999 NFTs on Art Blocks — an Ethereum-based platform that creates and hosts tokenized computer generated artworks. Hobbs wrote code that generates unique art pieces using the randomized transaction hash of the buyer's transaction as input.

Fidenza #313

Hobbs sold the 999 works originally for $400,000 and has since made more than $4 million in commissions as they were sold on.

Now his code has been used without permission to generate art for an NFT project called “SolBlocks.” Hobbs fired a salvo at the team after it announced a tokenized art drop using his code on Sept. 15.

While SolBlocks emphasized that the NFTs would not be copies of the Fidenza collection, Hobbs took aim at the project for using his computer program without permission:

“Not only is this distasteful as hell, it's also unauthorized commercial usage of my program. I'm asking you to stop, please.”

SolBlocks released some sample artworks from Hobbs’ code that look very similar to the Fidenza collection, and while they are not direct copies, the value is inherent in the code which generates the colorful art pieces.

In response to the disgruntled artist, SolBlocks emphasized that it wasn’t copying his art. Instead of agreeing to cancel the collection, they offered to share the proceeds of the sales with him.

“They are definitely not copies. They are new, everyone has said it —new hashes = new outputs. We're not saying we're not pirates of Hobbs' code. But at least we're honest pirates. We've officially decided to share a portion of all proceeds with artists whose code we utilize,” SolBlocks said.

From computer science to Fidenza NFTs

Cointelegraph Magazine spoke to Hobbs before this latest incident unfolded, and he was clearly prepared for something like this to occur at some stage given that his code is available on the blockchain.

The 34-year-old computer scientist turned millionaire NFT artist said that while it is “interesting for people to be able to explore that algorithm” his vision for Fidenza is now complete with the capped number of 999 NFTs.

Related: Fidenza: Tyler Hobbs wrote software that generates art worth millions

“I think the 999 is sort of the perfect test run of the algorithm and captures everything that I could have wanted it to capture,” he said, adding that he likes that there is “a clear start and a clear finish.”

Journeys in Blockchain author Elias Ahonen wrote:

“He is unconcerned about fakes due to the unfalsifiable nature of blockchain provenance, but acknowledges that someone could sell them as unofficial Fidenzas. While he is unable to ascertain the legality of doing so, he finds the thought of others co-opting the program for profit as unethical and disrespectful.”

Copy-cat NFT collections appear to be an issue regardless of which blockchain is utilized. The beloved CryptoPunks project has a long list of replicated collectibles such as CryptoPhunks, DystoPunks, Zunks, HD Punks and Bastard Gan Punks to name a few. There are also CryptoPunks on Solana called SolPunks ... and even they have a problem with clones  too.

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive

NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes NosediveAfter non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

End of August’s NFT Sales Tapped All-Time High at $1 Billion, Last Week’s NFT Sales Hit $821 Million

End of August’s NFT Sales Tapped All-Time High at  Billion, Last Week’s NFT Sales Hit 1 MillionData shows that non-fungible token (NFT) assets continue to break record sales week after week as statistics show over $1 billion in NFT sales took place during the last week of August. Meanwhile, this week’s data shows $821 million in NFT sales have been settled so far, dropping a hair since the week prior. Weekly […]

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Three Arrows Capital execs launch NFT fund

The new fund, Starry Night Capital, plans to exclusively invest in “the most desired” NFTs on the market.

Executives hailing from Singapore-based fund manager, Three Arrows Capital (3AC), have launched a fund focused on collecting premium digital art in the form of nonfungible tokens (NFTs).

The fund, dubbed Starry Night Capital, was founded by Three Arrows Capital’s CEO, Su Zhu, 3AC co-founder, Kyle Davies, and the pseudonymous NFT collector, Vincent Van Dough.

Van Dough announced the fund via an Aug. 31 tweet, stating: “Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.”

Zhu shared the tweet, adding: “Excited to make history together.”

3AC is a digital asset-focussed fund manager that was founded in 2012. The firm has made investments in leading layer-one blockchains including Ethereum, Avalanche, and Polkadot, in addition to building an expansive DeFi portfolio including blueships Aave, Synthetix, and Balancer.

While details on the new fund’s roadmap are sparse at this stage, Van Dough revealed that Starry Night Capital hopes to launch a physical gallery “in a major city,” launch an NFT education portal, and explore other “community-building initiatives'' by the end of the year. He added:

“The NFT space is not a zero-sum game, it is driven by strong flywheel effects and functions best when the pie is growing for all.”

Zhu, Davies, and Van Dough appear to have already teamed up to purchase nonfungible art together.

On Aug. 27, NFT enthusiast “pixelpete” tweeted that he had sold his one-of-a-kind Art Blocks NFT of Dmitri Cherniak’s artwork, Goose Ringer, to Zhu and Davies in a transaction that Van Dough brokered. The NFT is from Cherniak’s collection, Ringers — each of which was generated algorithmically on the Ethereum blockchain.

The pair paid 1,800 Ether for the token (roughly $5.8 million). However, it is unclear if Starry Night Capital will take possession of the artwork.

Van Dough’s wallet on the OpenSea marketplace also shows an impressive collection of 1,913 NFTs, including work from renowned NFT artist Pplpleasr.

Related: Three Arrows Capital CEO Su Zhu outlines his bullish thesis for Dogecoin

The community reaction to the fund’s launch on Twitter was mostly positive, with names such as Ryan Wyatt, the head of gaming at Youtube and Bankless founder David Hoffman congratulating the team.

However, user “Edgar Dubroviskiy” questioned the idea of purchasing only the “top pieces” in the NFT space, highlighting the high expense and poor liquidity of premium NFTs.

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse