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Tezos NFT Market Shines Amid Crypto Slump

The Tezos NFT market had a record-breaking month in July, with leading generative art platform fx(hash) recording over $3.8million in sales.

In pure defiance of a market downturn, NFT art has been rallying on the Tezos blockchain. In particular, performance art icon Marina Abramovic released a stand-out collection, which reaped over $300,000 in rewards.

Additionally, generative artist Zancan scored the second highest individual sale on Tezos, selling a piece on the secondary market for a colossal $113,000.

Furthermore, a collaboration between Iskra Velitchkova and Zach Lieberman secured over $350,000 in revenue, making it one of the top-selling projects on Tezos to date.

Indeed, there may be a bear market, but platforms like fx(hash) are rising from the flames with their user-friendly platform, which inspires creation and empowers generative artists.

Clearly, the Tezos blockchain is teeming with talent and the Circa Art platform welcomed a stunning collection from Serbian artist Marina Abramovic.

Abramovic rose to fame in the 1970’s for her performance art that broke the boundaries of convention, and she has just launched her debut Web3 project ‘The HeroFPS’ on Circa Art.

Based on one of her previous performances entitled ‘The Hero’ (2001), Abramovic returned with a performance which comprised 6,500 unique frames as NFTs.

Each NFT was sold as either a single frame (.jpg) or a sequence of frames (.gif), giving holders the opportunity to purchase time.

In a powerful nuance to the project, Abramovic and Circa Art are using a percentage of the revenue made to fund a grant to any ‘hero’, who submits an idea for Web3 that can make the world more sustainable. The grant will go to the idea which resonates most with Abramovic.

This is just one of many examples of innovative, powerful NFT projects circulating the Tezos blockchain ecosystem.

Besides, Tezos’ NFT art community were involved in some spectacular digital and real-life events, securing major revenue in the process.

First, ‘1-of-1 Month’ celebrated single edition works of generative art minted on the Tezos blockchain. This event generated over $300,000 in primary market sales with 7,670 editions made by a group of 2,195 artists.

The works of generative art varied in style and medium, with some notable artists being RubenfroLaurence FullerFrederik Vanhoutte, and Sutu.

Super July continued for Tezos, with VerticalCryptoArt’s NFT festival Proof of People, which took place at London’s prestigious venue Fabric London.

There were more than 2,000 attendees and an auction around the event garnered sales totaling $64,000. The three-day festival featured more than 70 artists such as Misan HarrimanMario KlingemannSofia CrespoDJ Richie Hawtin, and many more.

Finally, the cherry on top of a fabulous month saw Tezos hit a new record in smart contract deployment stats, with a wave of new dapps launched on the Proof-of-Stake network. The total number of smart contracts deployed was 11887, smashing January’s previous record of 8784.

When it comes to positive news, it doesn’t get much better than this! What a month for Tezos NFTs and we congratulate them for continuing to be a leader in NFT art in the Web3 space. 

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