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What is an NFT Art Block which is currently getting mainstream?

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  • NFT Art Block has been observed getting mainstream traction in recent weeks
  • Last month the project have skyrocketed in terms of trading volume
  • Three Arrows Capital have acquired a single piece of the collection for 1800 ETH with more pieces

NFT Art Block is a collection of art pieces established in November 2020. The Non-Fungible Token project is based on the Ethereum blockchain. Notably, the project generates an original digital artwork piece on a blockchain network through an algorithm. Cryptoslam, an NFT industry data aggregator, has recently revealed that the project skyrocketed last month. The project surged with just a slew of single crypto token sales for more than $1 million worth of Ethereum. Participants in the industry have shown immense interest while purchasing all the tokens within just an hour.

NFT Art Block is breaking its records

The recent sale of a single NFT Art Block piece for about $5.8 million worth ETH has become the most expensive deal in the project’s history. The enormous deal has attracted several eyes towards the project. An artist named Dmitri Cherniak had created a unique piece and minted on Art Block several months ago. The individual has been purchased via a secondary market transaction on OpenSea for 1.8k ETH.

Three Arrow Capital is amassing the pieces

It is revealed that the buyer of the artwork was Three Arrows Capital, a cryptocurrency investment firm. It is also noteworthy that the Singapore-based firm has accumulated a significant hoard of NFT Art Block this year.

According to Zhu Su, the CEO of Three Arrows Capital, the investment firm believes that they are at the forefront of a multi-decade generative art movement. Indeed, the firm thinks the best way to gain exposure to this trend is by amassing the defining pieces from the elevated regarded packs such as RingersFidenzaas, Archetypes, and Subscapes.

How can someone mint such NFTs?

In the current industry, it has been noted that Art Blocks is an on-demand generative art platform. It is significant to understand that NFTs are truly powerful, as such tokens open up new ways of doing things. And the NFTs collection is a phenomenal on-chain productive art platform built on Ether. For interested individuals, there are three main avenues to acquire these tokens. 

First of all, there is the Art Blocks Curated Collection, which consists of projects curated by the curation board. These such releases are considered as the only official Art Block collectibles. On the other hand, there is an Art Blocks Playground. The Playground allows artists that have minted a curated series of the platform to mint non-curated tokens, non-official projects. And lastly there is the NFT Art Block Factory that is a non-curated publishing outlet allowing artists to launch generative art series. Notably the factory is eventually the largest outlet for productive content in accordance with the team.

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