Key Points
A record-breaking NFT sale has taken place, with a complete set of 10 Autoglyphs being purchased for 5,000 ETH. This equates to roughly $14.6 million, making it the largest NFT sale in the last two years and the fifth-biggest on-chain purchase overall.
The Sale
The transaction was facilitated by Fountain.xyz, a platform that brokers rare digital art sales.
The buyer chose to remain unidentified, however, a representative revealed the collector’s background in traditional analog art collection.
This individual perceives the Autoglyphs similarly to any other standard art acquisition.
Autoglyphs were launched in 2019 by Larva Labs, the same company behind the renowned CryptoPunks.
They are considered the epitome of on-chain generative art.
Unlike many NFTs that depend on off-chain storage, all aspects of an Autoglyph, from the algorithm used to create it to the final visual output, are housed directly on the Ethereum blockchain.
This approach effectively resolves the off-chain storage challenges faced by earlier projects like CryptoPunks.
The collection consists of 512 pieces, each of which is immutable and royalty-free.
Autoglyphs are seen as the purest form of generative art within the blockchain sphere.
There are only seven full sets of Autoglyphs, and this purchased set was one of the three developer sets curated and minted directly by Matt Hall and John Watkinson of Larva Labs.
This particular set was previously part of the “Old School Collection.”
The acquisition marks a significant milestone in the history of Autoglyphs.
To date, the legacy of Autoglyphs includes over $50 million in secondary sales and exhibitions at esteemed venues such as Centre Pompidou and Sotheby’s.
