·

GenerativeMasks Sold Out for Upwards of $6 Million on Launch Day

Posted by
Hristina Yordanova

10,000 NFTs sold in a matter of hours

GenerativeMasks, the newest Ethereum-based NFT collection hit, has sold out in a matter of hours. 10,000 unique NFTs sold out, generating more than $6 million in volume on the day the collection was officially launched. 

This is an innovative approach to generative NFT art, as each mask NFT changes upon reloading the respective marketplace. While browsing through to find the mask you like best, you can see different variations of all mask NFTs simply by reloading the browser window. This is taking generative art to the next level. 

The NFT collection saw tremendous interest from the community, selling out 10,000 NFTs in a matter of no more than a couple of hours. More than 3,000 traders purchased a mask NFT, and there have been resales as well. According to DappRadar data, there have been upwards of 12,000 trades, meaning some of the masks have already switched owners more than once. 

Currently, the collection is outperforming big names in the industry like CryptoPunks and Art Blocks. For the moment, only Axie Infinity manages to hold its position. It is at the top of DappRadar rankings in terms of volume secured in the past 24 hours.

GenerativeMasks’ performance in the past several hours is an indicator that the collection has managed to grab the attention of the NFT community. Not only that, the innovative approach to the generative aspect of the NFTs will attract further interest. 

What are GenerativeMasks?

The development team behind GenerativeMasks has much bigger plans than just launching an NFT collection. For the moment, the project consists of 10,000 NFTs, each representing a different mask, generated through a blockchain-based algorithm.

GenerativeMasks

However, in the future, the GenerativeMasks will become much more than that. In the official roadmap posted on the GenerativeMasks website, we can see that the developers’ team is planning to launch a whole array of additional functionalities and events surrounding the masks NFTs. 

In Phase Two of the project, GenerativeMasks will become part of the metaverse, by joining Decentraland. The team is looking to purchase several plots in Decentraland and create galleries as well as other events. The idea behind this is to allow mask owners to proudly display their NFTs. Not only, the team is looking to enable them to wear their masks as avatars in the virtual world. 

Phase Three of the project entails that masks NFTs will be printed out as digital copies for collectors to purchase. Additionally, a Photo Book of all the masks will be printed out and available for the most dedicated collectors out there. Most impressively, some of the masks NFTs will become wood-carved physical items. 

GnerativeMasks has a very ambitious plan ahead of them. Hopefully, we will see it come to fruition. For the moment, the project is definitely meeting its milestones, considering the impressive primary sale. It is important to note that the creator of the GenrativeMasks collection, Shunsuke Takawo, has pledged to donate all proceeds from the primary sale of the collection. 

DappRadar will continue monitoring the development of the GenerativeMasks collection as it hits secondary sales. If you managed to sneak in and purchase a mask yourself, you could enjoy it through DappRadar Portfolio. There all your NFTs are visible in one place. 

Share this post on social media

Share this Article

Related articles

Related articles

NFT Art Project DeafBeef Traded Over $1,3 Million

Audiovisual art created using an old laptop and blockchain technology
© 2018-2021 DappRadar, UAB