TLDR
- •Quine auction sales exceeded $30,000 in the first 24 hours.
- •Each Quine piece sold for 7.56 ETH, approximately $31,000.
- •Larva Labs' previous works include CryptoPunks and Autoglyphs.
Larva Labs, creators of notable NFT projects CryptoPunks and Autoglyphs, have launched Quine, their final curated generative art series on Art Blocks. The auction swiftly surpassed $30,000 in sales, marking the first generative art release from Larva Labs since Autoglyphs.
The Quine auction, hosted on Art Blocks, generated sales exceeding $30,000 within 24 hours. Each piece originally sold for 7.56 ETH, approximately $31,000, with post‑auction trades reaching up to 9.45 ETH, roughly $38,750. Larva Labs collaborated with Art Blocks, enhancing its established reputation in blockchain‑based digital art.
Larva Labs: Pioneers of Blockchain Art
Larva Labs founders, Matt Hall and John Watkinson, have been significant figures in the NFT space. Since the inception of CryptoPunks in 2017, Hall and Watkinson introduced algorithmic generative art through a decentralized, zero‑fee NFT marketplace. This platform recorded over $3.2 billion in transactions. Their work, especially Autoglyphs released in 2019, has been displayed in prestigious art institutions like the Centre Pompidou and Whitney Museum of American Art.
In recent times, both founders have transitioned to advisory roles in organizations managing their earlier intellectual property. The NODE Foundation acquired the IP of CryptoPunks, whereas Meebco now owns the rights to Meebits, first released in 2021. Their advisory capacity ensures ongoing development and innovation in their NFT projects.
The Art Blocks Collaboration
The release of Quine was possible due to collaboration with Art Blocks, founded by Erick Calderon, also known as “Erick Snowfro.” Art Blocks has become known for elevating generative art, shaping the platform for digital artists globally. Calderon emphasized that the ecosystem is dynamic, with evolving trends, yet important to remember the history and achievements within the crypto environment.
Art Blocks historically impacts short‑term Ethereum trading volumes during its auctions. The Quine auction was no exception, contributing to increased Ethereum NFT‑related transactional activity. However, no significant regulatory or institutional updates were noted regarding this event.
Community Sentiment and ETH Impact
The community reacted positively to Quine's release, marking it as an end of an era for Art Blocks Curated. The emphasis of the auction was on creative innovation and appreciating collectors' agency, as both Larva Labs and Art Blocks highlighted.
All transactions were conducted in Ethereum (ETH), which increased Ethereum’s activity and liquidity flow. However, no detailed records of changes to Total Value Locked or broader liquidity movements were noted. The auction was centered on ETH, with no mention of governance or utility tokens or involvement of Layer 2 solutions.
“We operate in an ecosystem with continually shifting attention and metas where it can become easy to forget our roots and the highlights of the past in the face of the insanity of the crypto environment.”
Erick Calderon, Founder, Art Blocks
Final Curated Insights on Quines from Larva Labs notes that while the sales surpassed $30,000, no institutional investments or large‑scale grants were recorded. Instead, the focus remained on enhancing the art ecosystem and involving collectors deeply in the generative process.
Historic Influence of Larva Labs' Previous Launches
Larva Labs' previous ventures, notably CryptoPunks and Autoglyphs, marked paradigm shifts in digital art. CryptoPunks sparked a wave of profile picture NFTs, amassing billions in trading volume. Autoglyphs paved the way for fully on‑chain generative NFTs, influencing both Art Blocks and the broad market for generative NFTs.
During major Art Blocks auctions, similar impacts, such as short‑term ETH price volatility and increased gas usage on trading platforms like OpenSea and Blur, are common. Yet, the main focus was on the creative process and maintaining the heritage of generative art.