Non-fungible tokens (NFTs), engineered by the computer, were completely sold out, fetching 631 ETH. These pieces were the creations of Vera Molnár, a forward-thinking artist from Hungary.
Based on current valuations, the sale amounted to a staggering $1,178,520.
Molnár, at the age of 99, joined forces with fellow artist Martin Grasser to curate the ‘Themes and Variations’ collection.
Sotheby’s, the renowned auction house, shared that the collection pivots notably around three acronyms that have redefined the course of Molnár’s creative journey: N, F, T.
On July 26, a total of 500 NFTs were minted with an initial pricing of 20 ETH each.
As dictated by the auction’s rules, this was the maximum price at which each piece could be purchased. The price would then decrease in increments of 0.1 ETH every 15 seconds until all items were sold or the price dropped to 0.75 ETH.
One of the 500 generative artworks was randomly assigned to each buyer.
At present (Friday morning, UTC), 494 of Molnár’s Ethereum-based pieces are up for grabs on the OpenSea marketplace. The total transaction volume amounts to 897 ETH, with 259 distinct owners and 269 recorded sales.
The minimum purchase price, or the floor price, currently stands at 6.2 ETH, a staggering increase of 384.4% from the 1.28 ETH recorded post-auction on July 26. The highest observed price was 7.49 ETH, recorded earlier this morning.
Pioneer of Computer Art
Born in Budapest in 1924 and now residing in Paris, Vera Molnár is universally acknowledged as a trailblazer in the field of computer art. Between 1959 and 1968, she delved into the method of machine imaginaire, transitioning into the world of algorithmic art and creating computer drawings thereafter.
In addition, she and her husband jointly developed the “Molnart” software program.
In her art, Molnár draws inspiration from geometric shapes, structures, and the concept of systemic disorder. She particularly focuses on letters that stir personal emotions.
In 2022, Molnár made her foray into the realm of NFTs with her project titled “2% of disorder in co-operation”. The first edition of this project found its way into the esteemed auction house of Sotheby’s where it was successfully sold.
‘Themes and Variations’ serves as an extension of the generative protocol “2 % d’ordre”, an exploration of the grid’s potential and the unpredictability of color, according to the auction house.
Expressing her thoughts about the project, the artist stated,
“I named the most recent project that I’ve been working on, centered around the letters N, F, and T, ‘Theme and Variations’. This is my inaugural and sole long-form generative art project.”
‘Themes and Variations’ utilizes a long-form algorithmic system, programmed in JavaScript, that functions live in the browser. It operates on three core elements: the forms of letters, color, and composition.
Martin Grasser, an artist, designer, and typographer based in the US, adopts a systems-oriented approach to his work, focusing on abstraction and translation to yield a dynamic and ever-changing portfolio, as noted by Sotheby’s.
The realization of the project involved the combined efforts of a team comprising artists, designers, and developers, including Arsh, Audrey Chen, Laksh Arora, Zrinka Buljubašić, and V.E. Chen.
