Tyler Hobbs' Fidenza NFT Project Gets $1M Pump Over 48 hours

Fidenza, a generative Ethereum non-fungible token (NFT) project from artist Tyler Hobbs, has seen a sudden rise in popularity over the past few days, with one wallet snapping up eight Fidenzas for close to $1 million.

A series of back-to-back purchases were flagged by Fidenza Bot, an automated Twitter bot that scans OpenSea for Fidenza sales, on Wednesday morning. Notably, there were three transactions within 12 minutes, totaling 280.50 ETH (approximately $356,294) with an average price of 93.50 ETH (approximately $118,765).

All of the NFTs were purchased by the same wallet – 808450 – and for much higher than their previous sales, seemingly out of the blue. For example, Fidenza #459 last sold for 0.29 ETH, or about $687, on June 11, 2021. Fidenza #726 last sold on June 14, 2021, for 1.2 wrapped ether (WETH) (approximately $3,098) and Fidenza #18 sold on July 15, 2021, for 8.5 ETH (approximately $16,294).

The transactions bumped the project's market cap to 90,609.30 ETH (about $121 million) and helped raise its floor price to 94 ETH (approximately $116,154).

In a show of prosperity, three more NFTs were purchased by the same wallet within 17 minutes on Thursday morning, each selling for at least 98 ETH (approximately $125,244).

Another NFT – Fidenza #136 – was transferred to wallet 808450 on Friday afternoon, leaving the well-to-do investor with eight Fidenza NFTs totaling 689.95 ETH (approximately $910,271).