Buyer snaps up pair of ‘Squiggle’ NFTs for $4m

An anonymous buyer yesterday purchased two ‘Chromie Squiggle’ NFTs from the Art Blocks Curated collection for an estimated $4m (1,362 ETH).

The buyer snapped up Chromie Squiggle #7583 – an extremely rare ‘perfect spectrum‘ squiggle – for 922.5 ETH. A follow-up purchase of Chromie Squiggle #2855 for 420 ETH was then made 20 minutes later.

The NFTs, which feature unique, randomly generated squiggles of colour, are part of the Art Blocks Curated collection from Art Blocks founder Snowfro. To complete the spending spree, the buyer also grabbed Ringer #787 for 275 ETH.

A series of high-profile purchases have been made by the buyer, including 14 squiggles alongside 13 Ringers and three Fidenzas. The remainder of the collection features other prominent pieces including Subscapes and Archetype.

The purchases also caught the attention of the wider NFT community, with many speculating the buyer was a VC fund or institution as the estimated worth of the wallet is $25m and features an array of highly sought-after pieces.

It’s now anticipated the buyer is making a ‘land grab’ and accumulating as many pieces from the collection as possible before the landmark Christie’s auction on October 1.

Christie’s announced the auction for ‘Art Blocks Curated sets 1-3’, which starts on October 1 2021. In a first for any leading auction house, bidding for the lot will be conducted live using Ethereum (ETH).

The auction will feature two lots – full sets 1, 2 and 3—31 Projects – from Art Blocks Curated and a selection of 30 CURIO CARDS. Additionally, the assets being sold in the Art Blocks auction can be viewed on OpenSea.

High-profile funds in the crypto space such Three Arrows Capital (3AC) and Alameda Research have been amassing an impressive collection of Art Blocks Pieces since the beginning of the year – including 3AC’s record purchase of Ringer #879 for 1,800 ETH.