The Nouns NFT fork, which has released hundreds of pixel portraits of the late monarch over the last several months, is wrapping up its first collection.
Auctions for a painting of the late Queen created in Ethereum NFT form and dedicated to the cryptocurrency began on QueenE’s platform in early July. Web3 developers Fabio Sevá, Vincius Rodrigues, Everton Matumoto, and the anonymous mladen.eth conceived of the initiative, which aims to release new procedurally created works at a rapid pace for as long as the Queen lives.
The project cloned its concept and code from Nouns, an innovative NFT initiative that auctions a single Ethereum-based profile photo every day and admits purchasers to an elite club, but added a royal touch by maintaining affordable versions of Queen Elizabeth II. Initially, QueenE auctions occurred every several hours; however, they now occur once per day.
QueenE’s official Twitter has hinted at a forthcoming “Gen2” collection, but no information about it has been made public as of the writing of this article.
As of the time of writing, the last QueenE Gen1 NFT has a high price of 0.5 ETH, or around $825, with the auction scheduled to expire tomorrow at 4 AM ET. Prior to the sale of QueenE #23 on July 27 for 1.9 ETH, the highest ETH price for any item in the collection was 1.9 ETH or roughly $3,275 at the time.
A non-fungible token (NFT) is a blockchain token that signifies ownership of a digital product, such as artwork, profile photographs, collectables, or video game items. Throughout 2021, the market for non-fungible tokens grew exponentially, with noteworthy collections reaching eight-figure selling prices.