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The innovative NFT minting of Tezos attracts Art Basel Miami collectors

The innovative NFT minting of Tezos attracts Art Basel Miami collectors

On Tuesday, serious art collectors who attended the opening day of Art Basel Miami Beach could take home a “generational” Tezos-mined NFT for free.

The Tezos stand at the exclusive fair offered an interactive live-minting experience that enabled attendees to produce algorithmic NFTs developed by Tyler Boswell, Distcollective, or Ivona Tau by scanning a QR code.

The entire transaction takes roughly two minutes, during which the artwork is promptly transferred to the visitor’s wallet and displayed on a huge screen along with information on the artwork’s rarity.

Mark Soares, the founder of Blockhaus who collaborates with Tezos on the project, stated that just 2,500 NFTs will be mined throughout the week-long event. In an interview at the show titled “Performance in Code: Decrypting Value in Generative Art,” he stated that similar NFTs mined at other fairs in Hong Kong and Paris sold for hundreds of dollars on the secondary market.

“Tezos has always been a standout in the market,” Soares said. “What we like to showcase with Tezos is this authentic art movement that actually exists on the blockchain and clearly intends to be overshadowed by these more candy-coated, hyped collections that may emerge. Some of Not wrong either, but there’s a lot more to it than just PFP NFT art, which tends to dominate a lot of the narrative.”

He noted that the exhibition, which was created in partnership with the art platform fxhash, was intended to attract professional art collectors to the Tezos blockchain.

“We’re still at the curiosity stage,” he said. “There is no doubt that there are collectors who are collecting NFTs here as part of their overall collection, but I am also seeing the opposite. NFT collectors are coming to collect other forms of art as well. . . . And so there’s kind of a crossover that’s going to take place.”

Soares stated that he did not anticipate a decline in industry interest following the demise of FTX.

“I was actually talking to the guys at fxhash, and this month was their biggest month in terms of sales,” he said. “They said the more chaos, the better.”

Throughout the week of Art Basel, prominent artists from the Tezos ecosystem will be featured in a dialogue series that will explore the fusion of generative art algorithms and blockchain technology. The exhibition is accessible to the public from December 1 until December 3.

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