Vera Molnár’s ‘Themes and Variations’ Makes Sensational Debut, Sells Out in One Hour for $1.2 Million

Vera Molnár’s ‘Themes and Variations’ Makes Sensational Debut, Sells Out in One Hour for $1.2 Million

Sotheby’s Gen Art Program witnessed a historic moment on Wednesday with the remarkable debut of the renowned 99-year-old pioneer artist, Vera Molnár. In a Dutch Auction, a first in Sotheby’s 300-year history, Molnár’s series ‘Themes and Variations’ captivated collectors and art enthusiasts alike.

The auction began with a ceiling price of 20 Ethereum (ETH), approximately $37,000 in today’s value. However, within the first hour of the auction’s opening, all 500 generative artworks were sold, each surpassing the base price of 1.5 ETH. The total proceeds amounted to a staggering 631 ETH, equivalent to $1.2 million.

Michael Bouhanna, Sotheby’s head of digital art and NFTs, expressed his excitement about the enthusiastic response, stating that the demand for high-quality digital art remains strong. Vera Molnár’s reputation as one of the originators of generative art was further solidified with the successful sale.

‘Themes and Variations,’ a collaborative effort between Vera Molnár and artist Martin Grasser, showcases intricate algorithmic transformations of hand-drawn variations of the letters N, F, and T. The fusion of human creativity and machine interactivity in these captivating black-and-white graphics and color combinations challenges the essence of letters, giving them a fresh perspective.

Following the auction, the secondary market trading volume surged to an astounding 457 ETH, underscoring the high demand for Molnár’s groundbreaking work.

As an on-chain generative art project, ‘Themes and Variations’ not only demonstrates Molnár’s innovative approach to art but also reflects her decades-long involvement with the ‘Machine Imaginaire,’ dating back to 1968 when she started working with early computers.

Collectors and art enthusiasts expressed their enthusiasm on Twitter, celebrating the success of the auction and Molnár’s influential contributions to digital art.

Sotheby’s has been actively involved in the NFT space since 2021, positioning itself as the premier destination for acquiring and showcasing top-tier digital artworks. The collaboration between Vera Molnár, Sotheby’s, and the Art Blocks Engine proved to be a resounding success, highlighting the enduring impact of Molnár’s work on today’s digital artists.