The anonymous creator Pak recently sold 250,000 NFTs and generated $91.8 million in sales on Nifty Gateway, through the launch of his latest project ‘The Merge.’ This makes it the biggest CryptoArt sale on the platform by a living creator.
Nifty Gateway listed Pak’s latest project for sale between December 2nd and December 4th. It was offered as an open edition with a twist, with the twist being that the collection has a built-in mechanism that ensures that the token supply will decrease over time.
Every Merge token that a collector acquired would merge with the tokens already in the collector’s wallet, further increasing the mass value of a singular token. With this function in mind, Merge NFTs also have the ability to be dynamic, as they can visually increase in size as the mass value of a collector’s singular token increases.
Collectors were also given further incentives to invest in tokens, and the unique dynamics and incentives prompted a total of 26,000 collectors to participate in the sale.
‘The Merge’ is a fly in the face of traditional artwork at auction, as artworks heading to auction are usually auctioned as single pieces, rather than in series. However, because the project is embedded with a mechanism that combines its various pieces, the project has the ability to coalesce artworks into a singular artwork, making its existence as either ‘series’ or ‘singular piece’ rather ambiguous and uncertain.
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