“Head With Legs” sells for 30 ETH at superhow.ART Auction By DailyCoin


“Head With Legs” sells for 30 ETH at superhow.ART auction

Famous Russian surrealist Oleg Tselkov’s symbolic artwork was sold for 30 ETH in the very first superhow.ART virtual auction. The huge interest shown by bidders shows that investors are hungry for genuine art NFTs.

Tselkov’s artwork “Head with Legs” debuted as the first NFT to go live on the superhow.ART platform. The iconic piece by the legendary post-war artist was sold to One Whale for over $ 140,000.

“[The] 25 – 30 ETH-sized offerings on OpenSea and our platform show that there is a serious demand for genuine fine art and NFT which represents the property rights to be claimed, thus connecting both the physical and digital worlds ” , said Vytautas KaÅ¡Ä—ta, CEO of superhow.ART,

An auction of unique works of art

The superhow.ART auction platform offers a unique approach to the NFT art market.

First, superhow.ART allows auction winners to acquire ownership of the two physical works of art themselves, as well as an NFT digital certificate version.

Second, the platform features two auction sides, “Whales” and “Shrimps,” for battle. Whales, or big investors, compete with shrimp to determine who has the greatest purchasing power. Meanwhile, the shrimp, or small investors, place their bids in a pool and bid collectively.

“The idea of [the] Whale vs. Shrimp Contest [is to] show that anyone can be lucky enough to own at least a fraction of ownership of a top notch work of art. Our first auction showed that whales are stronger, but we are sure that in upcoming auctions the community will build up its power, ”KaÅ¡Ä—ta said.

High gas costs lead to whale victory / Whales celebrate their victory / Gasoline costs are easier for whales

The very first superhow.ART virtual auction ended with the victory of a single whale bidder. The auction team explains that this is the result of extremely high network gas charges, which has caused small bidders to think twice before entering.

“The gasoline costs were really high during the auction. We think the smaller bidders thought twice before making their bid, and therefore the auction ended with a Whale winner. ”Kašėta explained.

The auction began on November 5, 2021 and continued for over a week. Average Ethereum network fees during this period peaked at nearly $ 150 per transaction.

The CEO of superhow.ART said he was excited that the auction platform is already working on developing technical solutions that would help minimize expenses and improve the overall experience for auction participants.

“If you want to be a pioneer in your field, you have to overcome every challenge and then do it again and again,” Kašėta said.

Shaping the future of TVN

Despite the high Ethereum gas fees, the very first superhow.ART token art auction sparked interest in the crypto community. The platform is already planning the next iteration of iconic fine art NFT auctions.

“We want to improve the adoption of blockchain technology and be the ones who define the future of NFTs. It should be about art and culture, no hype or shoddy images, ”confirms Vytautas Kašėta, CEO of superhow.ART.

About SUPER COMMENT?

superhow.ART is an NFT art auction platform, created and developed by SUPER HOW?

SUPER HOW? is a Lithuanian private research and development laboratory focused on blockchain and distributed ledger technologies.

SUPER HOW’s team of blockchain professionals? contributed to the development of the Lithuanian Central Bank’s LBCOIN, which is the world’s first blockchain-based digital collectible coin.

E-MAIL

Sign up to get the crypto flip side

Upgrade your inbox and get our DailyCoin editors’ picks 1x per week straight to your inbox.

[contact-form-7]

You can always unsubscribe with just one click.

Continue reading on DailyCoin


Comments are closed.