'QWERTY' Mints Out, Up 20% In Early Trading
Today's Art Blocks x Pace Gallery collaboration project "QWERTY" from Tara Donovan has minted out, in one of the longer Dutch auctions in recent Art Blocks history.
The project reached a minimum price of 0.263 ETH before it sold out the supply of 500 NFTs, and in the first half hour of secondary trading, the floor is up ~20 percent to 0.34 ETH.
There was some early action in the dutch auction, as the first 56 mints were promised a free signed print from the artist. With that added bonus, the first 56 mints came out well above the final price of 0.263, closer to the 0.7-0.8 ETH range. But then buyers "held the line," with the 100th mint coming near the 0.4 ETH mark and then the majority of the supply finally moving in the 0.27-0.3 ETH range.
Early speculation was that this project may mint out at a higher price point, as the only other Pace Gallery collaboration "Petro National" minted out above 2 ETH and holds a 3.9 ETH floor. That was not the case today.
The current high sale is 1 ETH, though there has been a balance of floor and above-floor buys in the first window of trading. The "QWERTY" OpenSea project can be found here.
