At the auction, tokens were sold for 1,800 ETH for pre-ordering NFT from Tyler Hobbs

In an auction organized by Mirror Protocol, 50 gold tokens were sold in 90 minutes, giving ownership of the as yet unreleased NFTs from artist Tyler Hobbs.

Fans of Tyler Hobbs, author of NFT Fidenza from the Art Blocks collection, bought 50 out of 100 “gold” tokens for 1,800 ETH (more than $ 7 million). These tokens give the owner the title to one of the digital artworks based on the artist’s new Incomplete Control collection, which will not be released until December 2021.

Initially, each token, numbered from 1 to 50 and corresponding to a specific painting from the artist’s collection, was valued at 500 ETH. During the auction, the price was supposed to decrease every 5 minutes until the minimum level of 5 ETH was reached. As a result, the price of the sold tokens ranged from 30 ETH (about $ 120,000) to 80 ETH (about $ 320,000).

The remaining 50 “gold” tokens will be distributed randomly between 50 wallets of NFT holders based on the previous series of Hobbs’ paintings Fidenza and the CryptoCitizens NFT project on November 5. Token holders will be eligible to purchase NFT with a 50% discount off the auction price.

Recall that in August, Fidenza NFT from the Art Blocks collection was sold for 1,000 ETH (over $ 4 million). In addition, recently the holder of one of the CryptoPunk tokens refused to sell it for $ 9.5 million, because he believes that its value will increase significantly in the future.

NFTs are indeed gaining more and more value in the cryptocurrency ecosystem and stand as well-known physical works of art. Wave Financial CEO previously stated that “NFT is a JPEG image that can sell for a million dollars.”