Two days ago, I spent 4.86 ETH to buy a generative art work called "Quine", and I sold it for 8.72 ETH early this morning.

Of course, I am also a little worried: I hope it won’t rise to 20 ETH in the future, otherwise I will be very sad.

Earn 90,000 in 2 days

The generative art piece I bought is an NFT from a series called "Quine by Larva Labs."

The sale was particularly popular on the day. Of the 500 works in total, the creator reserved 3, leaving 497 collections. They were sold out in a short period of time at a price of 7.5625 ETH per work, raising a total of US$14.8 million (3,600 ETH).

I was watching the launch day, wanting to wait and see how it performed. After two or three hours, the price started to decline, coinciding with the broader crypto market downturn. I placed an offer for 4.86 ETH and finally snagged a bargain.

The price started to rise gradually from the next day, and the floor price reached 9 ETH. I listed the price at 8.72 ETH and it was sold successfully.

The profit in 2 days is a floating profit of 3.86 ETH. Because the platform transaction fee of 1% and the creator's royalty of 7.5% must be deducted, the final profit is 3.1188 ETH, equivalent to RMB 90,000.

Why spend 150,000 to buy a small picture?

On the day of purchase, I spent nearly 150,000 yuan to buy this small picture. Why was I willing to buy it?

First look at the issuing entity, then the issuing platform.

Both pieces are top-tier, which is why they're so popular overseas. Many influential people, collectors, and big names have bought into this series. I'm probably the only Chinese person to have bought into this series.

In addition, the entire series has good liquidity and is easy to sell after purchase.

The issuing entity is Larva Labs . Many people may not have heard of it, but you must have heard of CryptoPunks - the world's earliest and most influential NFT project.

In June 2021, at Sotheby's online auction, a Cryptopunk NFT numbered #7523 was sold for US$11.75 million, setting a historical record for a single Cryptopunk.

The last time it was publicly traded was in 2017, when a user bought it for 8 ether (about $646).

According to IntoTheBlock, as of today, the all-time trading volume for CryptoPunk has reached $3.71 billion.

The cheapest CryptoPunk now costs 46.7 ETH, which is over 1.3 million RMB. Remember, it was free back then. This series is even more influential than Bored Ape, and has long held the top spot.

Larva Labs also launched 3D pixel characters Meebits, with a total of 20,000.

There's also the generative art series Autoglyphs, with a total of 512 pieces and a floor price of around 80 ETH. It's widely considered the first on-chain generative art, a holy grail. Its current total trading volume is 21,000 ETH.

The distribution platform is artblocks , the world's largest generative art platform, where the most amazing generative art comes from, such as fidenza, Ringers, and Chromie Squiggle.

This collaboration is a powerful alliance, and the entire overseas NFT community has taken notice. Therefore, it is very topical and has attracted traffic.

Chatting Generative Art

Currently, the best chain for generative art is Ethereum. Other chains also have generative art, but they are not very popular.

The same generative art work, when posted to different chains, will have different perceived values in the minds of users.

If you send it to Ethereum, people will think it has a high enough ceiling and enough room for imagination. If you send it to Tezos, it will seem very cheap.

Generative art isn't widely accepted in China right now, but it's already quite popular overseas. I also started my generative art series, Number, early on.

I think that as crypto culture develops, generative art will become one of the core narratives of NFT in the next few years.

I am also looking forward to seeing more and more people in the country pay attention to generative art.