QQL NFT Sells $16.7M Worth of NFT Mint Passes in Hours Despite Bear Market

QQL NFT Sells 16.7 Worth Of NFT Mint Passes In Hours Despite Bear Market

Tyler Hobbs, the creator of At Blocks Fidenza NFT, dropped another generative art NFT collection in partnership with Dandelion Wist. The QQL NFT is based on the Archipelago Art platform. The creative tool to make generative art is available for everyone. However, to turn the image into an NFT, one must purchase an NFT mint pass for 14 Ethereum (ETH).

The QQL NFT Dutch auction has seen instant success, as the NFT minting passes were picked up in a matter of a couple of hours. Totaling about $16.7 million, the primary sale was indeed a huge hit in the market. Apparently, Tyler Hobbs QQL NFTs outscored all of the secondary market NFT sales in the past 24 hours combined.

NFT Enthusiasts Are Willing to Pay for HQ NFT Projects

First, the QQL NFTs have one big difference from the rest. The NFT collectors are not buying pre-made digital art, but rather an NFT minting pass to mint their own digital art. This way, the NFT owner can go on the QQL platform and design their own pieces of art. For instance, an NFT enthusiast who goes by the nickname Whiplash presented his “Chaos” QQL generative art piece for an NFT contest run by Tyler Hobbs himself.

Moreover, well-known NFT art collectors like Farokh, who owns the decentralized Web3 firm RugRadio, praised the QQL NFT project. Nearly $17 million in a couple of hours are “insane numbers,” he remarked. However, he also added the success is “not surprising, given how well Fidenza has performed and how much people loved QQL.” Ultimately, the QQL NFT collection received plenty of positive reviews from the crypto community. Some even think QQL technology is perfect for physical items at home, such as postcards.

Life Is Back in the NFT Market

Despite the prolonged bear market, NFT sales are back on track. The last couple of months were unforgiving for the NFT market, as early September had even the most popular NFT projects counting losses in double digits. Since last month, NFT sales have gone up by 25.38%, according to CoinMarketCap. That’s $285M in total NFT sales since the dip.

On the Flipside

Why You Should Care

Some NFT enthusiasts argue that the rapid decline in NFT sales is due to a lack of quality, rather than the bear market.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.