The Nouns NFT fork will end its initial collection after recently publishing dozens of pixel portraits of the deceased king.
Following the passing of England’s long-serving monarch, an Ethereum NFT initiative that generated dozens of pieces of Queen Elizabeth II commemorative artwork over the past two months is currently holding its final auction for the collection.
Early in July, QueenE began holding auctions for a single Ethereum NFT portrait created as a memorial to the late Queen. The project was reportedly developed by Web3 builder Fabio Sevá and the anonymous mladen.eth, and it was intended to continuously release new procedurally generated works at steady clip for the remainder of the Queen’s life.
The project took its format and code from Nouns, an innovative NFT project that auctions off a single Ethereum-based profile picture every day and lets buyers into an exclusive club. However, it added a royal twist by showing lo-fi versions of Queen Elizabeth II.At first, QueenE auctions were held every few hours. Now, most auctions are held once a day.
The project declared that the current auction—for the 73rd Ethereum NFT in the collection—will be the last one offered as a part of the original collection after hearing of the Queen’s passing at the age of 96.The QueenE Twitter account teased at a forthcoming “Gen2” collection, but no information had been made public as of the time this article was published.
“Rest in Ethereum, forever,” the project’s Twitter bio now reads.
The final QueenE Gen1 NFT is currently at a top bid of 0.5 ETH, or roughly $825, and the auction is scheduled to end just before 4AM ET tomorrow.The previous highest ETH sale price for any item in the collection was 1.9 ETH on July 27 for QueenE #23; at the time, that amount was equivalent to $3,275. A blockchain token called an NFT is used to signify ownership over assets like artwork, profile pictures, collectibles, and video game items that are digital in goods.
Since Queen Elizabeth II’s passing was announced earlier today, secondary sales of the QueenE NFTs have increased. At the moment, the floor price—the least expensive item currently listed on a marketplace—at OpenSea is 0.88 ETH, or roughly $1,450.
Similar to Nouns, QueenE NFTs’ principal sales profits are directed into a treasury that is overseen by a DAO, or decentralized autonomous organization. A DAO is an online community with common goals and membership that is based on tokens.DAO members have the option to vote on ideas that would allocate the available funds (10.10 ETH, or $16,650) to a variety of projects.
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