99-year-old artist sold her NFT collection for $1.2 million

Vera Molnar, one of the first artists to start using computers for art, sold at auction at Sotheby’s a collection of 500 NFT called “Themes and Variations”.

Vera Molnar’s paintings were sold out in just an hour. In total, the artist earned 631 ETH ($ 1.2 million) for them. In addition to geometric shapes such as squares and triangles, Molnar used the letters “N”, “F” and “T” in her works.

For the first time in its 300-year history, Sotheby’s auction house held a sale in the format of a Dutch auction — participants put the highest price at which an item will be sold, and then lower it until the buyer makes a bid. The maximum set price at this auction was 20 ETH ($37,506).

Molnar was born in Hungary in 1924. She has been living and working in France for a long time. The artist became a pioneer of computer art, as well as one of the first women who used computers in their artistic practice.

Meanwhile, the NFT market is going through hard times. Recently it became known that Jack Dorsey’s first tweet in the form of an NFT devalued by almost 100%. And the cost of the NFT purchased by Justin Bieber from the BAYC collection has fallen tenfold. Nansen analysts also found out that due to the emergence of platforms such as Blur and OpenSea, the creators of NFT began to receive much less royalties.