60+ Crypto artists involved in the biggest NFT collaboration ever
Artvatars, a new collaborative art project on the Polygon blockchain, launched with a bang this week. In the last 24-hours, the digital collectibles dapp has seen just over $2.1 million in volume, over 9,000 transactions, and almost 1,400 users. The collection debuted with 20,000 NFT collectibles with the first 5,000 selling for 0.15 ETH the following 5,000 for 0.3 ETH, the third batch for 0.45 ETH, and the final lot for 0.6 ETH.
Sixty artists worked together on different characters which are then mixed by artificial intelligence before they are sold to collectors. The result is a collection of 20,000 unique Artvatars, consisting of different elements designed by famous digital art creators. Interestingly, the Artvatars project has launched on Ethereum layer-2 solution Polygon in a bid to circumnavigate gas fees and offer users overall better efficiency and value.
The project did suffer some initial technical difficulties, which led to some interesting discussions in their discord chat. The result, as expected, was that some people instantly accused the project of being a scam. They were quick to alleviate concerns and within two hours since launch, they sold 5,000 Artvatars NFTs. Furthermore, some successful purchasers listed their NFTs on OpenSea for sale immediately afterward – for a higher price of course.
The project is pretty high profile because of the artists involved. Among them are NFT artists like Bryan Brinkman, Kitty Bast, Alotta Money, and Hackatao, who have been responsible for millions of dollars in NFT trading combined. For example, Alotta Money worked with Trevor Jones on Eth Boy and sold the artwork for $636,000 to collector Max Stealth. Last month Hackatao’s “Kim Jong Un: Dead and Alive Edition” sold on the secondary market for $372,000.
Artvatars is in many ways similar to the Ethereum project Hashmasks, another character-based art project that combined works of different artists. Currently, there are more than 4,000 wallets holding one or more Hashmasks and during February 2021, some of these Hashmasks sold for more than $1 million. Whether Artvatars will meet similar success, remains to be seen but initial data is positive. To buy an Artvatar, collectors need to transfer ETH to the Polygon blockchain. We have prepared an easy-to-follow guide using Metamask you can find here.