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Hungarian 99-Year-Old Artist Vera Molnár's NFT Debut Rakes in $1.2M at Sotheby's

Hungarian 99-Year-Old Artist Vera Molnár's NFT Debut Rakes in $1.2M at Sotheby's

The NFT collection was sold out in less than an hour and earned over $1 million. 

A unique collection of non-fungible tokens (NFTs), produced by the revolutionary 99-years-old Hungarian artist Vera Molnár in partnership with Martin Grasser, earned a substantial 631 Ether (ETH), equivalent to roughly $1.2 million at Sotheby's Dutch auction.

It is worth noting that all pieces were purchased in less than an hour.

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Molnár's impressive "Themes and Variations" collection consists of 500 algorithmically constructed collectibles. Each piece combines 170 color palettes and recursive grids.

In a statement released on July 26th, the auction house elaborated on the collection: 

Themes and Variations is an expansion of Molnár’s 2% d’ordre generative protocol that explores the power of the grid and randomness of color. Molnár further developed the system by incorporating the appearance of letters (N, F, T), playfully chosen for this series as a reference to the technological vehicle of NFTs.

Born in the Hungarian capital Budapest in 1924. Molnár started creating computer-generated artwork as early as 1959. She has previously exhibited her work in several well-known galleries across Europe and shared her knowledge at the University de Paris.

Speaking of her latest NFT endeavor, Molnár said:

After decades of exploring how systems and computers can generate artistic outputs, I see this collaboration with Sotheby’s and Art Blocks as a culmination of those efforts, providing a new way to generate never-before-seen, unique abstract forms that are defined by the controlled randomness of machine programming—the essence of the algorithm.

The "Themes and Variations" collection has seen a trading volume of over 900 ETH on secondary markets such as OpenSea since its release. At the time of writing, the floor price of the NFT fluctuates around 6 Ether (ETH).

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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