Meet the Visual Artist Using Algorithms to Make Multi-Million Dollar NFTs

There is no doubt that NFTs are hot. The trading volume of the blockchain -based collectibles surpassed $10.67 billion in the third quarter of 2021, according to DappRadar .
Tyler Hobbs has earned his fair share of that total. Hobbs’ Fidenza collection, spanning 999 unique pieces, has traded for over 37,000 ETH ($151.2 million) to date.
For his next exhibition, Incomplete Control , Hobbs will mint 100 NFTs for a select group of event-goers. And the artist is a big enough draw that the company behind the exhibition is auctioning tickets, or “golden tokens,” to the event starting at 500 ETH a pop.
A graduate of the University of Texas, Hobbs began working as a computer engineer before pursuing art full-time in 2014. But that didn’t mean he left computers totally behind. Hobbs says that since programming was such a big part of his life, he wanted to think of ways to involve it in his artwork. For him, that meant producing “generative artwork,” or art created via an algorithm.
“A piece of advice for artists is to try to make the work that only you could have made,” Hobbs told Decrypt , “which in some ways means you have to use all the skills that you have at your disposal to create the artwork.”
That idea proved to be very lucrative. One piece from Hobbs’ Fidenza collection on OpenSea, #313, also known as “The Tulip,” sold on the secondary market for 1,000 ETH, or $3.3 million at the time.
What makes a collector spend that much money on digital art? “In some cases, that price is incomprehensible,” Anthony Georgiades, co-founder, and COO of NFT platform Pastel Network , told Decrypt in an email. “However, beyond that, there is something special about it. The art itself can tell a story or can be something that took large amounts of skill, effort, and time, but what drives the value, in my opinion, is what it signifies. It represents the democratization and decentralization of an antiquated and rather stuffy system.”

Just brokered the first 4-digit @artblocks_io sale at 1,000ETH ($3.3M)
I present to you @tylerxhobbs Fidenza 313, License.

Thank you for Share!



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