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State of the NFT Market
Apr 22, 2023
This episode of PROOF discusses the state of the NFT and crypto markets, including the recent volatility and decline. They also talk about Nike's OF one collection, the Glitch x Marfa Exhibition, and the QQL Parametric Expression auction. The hosts share their hot takes on these topics.
01:08:06
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Quick takeaways
- The QQL x Pace Gallery drop failed to attract widespread attention, resulting in low sale prices for highly talented artists' works.
- The QQL algorithm showcased the artistic potential of generative art by allowing renowned artists to design QQLs in their distinct styles.
Deep dives
QQL x Pace Gallery Drop: Undervalued Artworks by Prominent Artists
During the QQL x Pace Gallery drop, a collection of QQLs designed by well-known artists such as Grant Yun, Drift, Claire Silver, and William Mopam were auctioned off. Despite the artistic talent behind these works, the auction did not receive widespread attention, resulting in surprisingly low sale prices. The auction required KYC verification, and the QQLs sold for lower prices than the existing floor prices for similar QQLs. This missed opportunity allowed collectors to acquire pieces by renowned artists for significantly less than their market value.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode