Daniel Maegaard, aka Seedphrase, is a digital native collector, musician and fan of the digital arts. Not only does it have one of the best Invincible token collections on the planet, but it is also the only CryptoPunk owner to have seven features in the entire 10,000 visual collection.
Boasting countless NFT grails in its portfolio, Seedphrase is partnering with Sotheby's to auction off its modern finds from February 23rd to March 4th.
The auction featured 11 pieces from the GSR collection for sale alongside nine works of art. Included in 11 are XCOPY, Hackatao, Coldie and Pak.
The Contemporary Finds Auction features physical art from visual artist and producer Andy Warhol, sculptor Alexander Calder and abstract painter Robert Motherwell. It's another milestone for NFTs and digital art as it continues to infiltrate the mindset of traditional art collectors.
Banked with a reputation for achieving good results with both artists and collectors, Seedphrase has credited Sotheby's understanding of the digital art space as a key factor in entrusting the firm with the pieces it chooses to sell.
“Sotheby's has demonstrated time and time again that it has a deep understanding of the digital art space, with a focus on key trends and a discerning taste. This has consistently produced great results for both artists and collectors due to fair valuation and creative royalty payments. It was an easy decision to work with Sotheby's on the sale of these iconic digital works.” Says Sidphrase.
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ToggleGenealogy mouthwatering collection and NFT journey
Initially jumping into crypto in 2013, Seedphrase launched in 2013. They jumped into NFT exploration in 2018 and have a mouth-watering collection, highlighted by their popular seven feature CryptoPunk, which was acquired on May 20, 2020 for 85 ETH ($17,837 at the time).
Also sitting in the wallets are nine Autoglyphs by Larva Labs, three Cryptopunk (including seven of his characters) by Larva Labs, 600 Crypz by Overlord, eight Memories of Killeen by Emily Xie, four Anticyclone by William Mapan, and one Gazer by Matt Kane.
“Many people know me online and IRL for my seven features, CryptoPunk. This particular CryptoPunk is not only rare but also has a lot of sentimental value. I would also say that my entire collection of autoglyphs is the most popular, because it shows me getting into the art of creating chains,” he told Seedphrase magazine.
“In early 2013, I started collecting crypto when I saw an article on the BBC about the financial crisis in Cyprus. This helped me understand early on how the traditional banking world works and the importance of self-regulation. At first, I was only focused on crypto, but in late 2018, My interests have expanded to include spending more time exploring NFTs.
Along the way, Sidphrase often finds it's the little things, such as his friendship with artist ThankYouX, that bring him joy and satisfaction.
There is no greater feeling than gathering wisdom that ultimately leads to wonderful and lasting friendships. I'm happy to see the astronomical rise of Ryan (ThanksYouX) which has led to a solo exhibition with Sotheby's in 2023.
“The way he beautifully merges the physical and the digital makes the artwork relatable to all audiences. A unique piece I collect from the Modern Day sale always proves to be a conversation starter with my guests from all walks of life.
Even more exciting for an industry he loves is the arrival of tools like Apple Vision Pro, which promise to more quickly track the evolution of digital identity, something Seedphrase has been passionate about for years.
“The emergence of Apple Vision Pro and similar technologies will continue to push digital identity into the mainstream. We live in a highly digitized world, but soon our daily lives will have a digital fabric woven into reality. This means our real life and digital identity will soon merge and become inseparable.” They will be.
Sotheby's ushered in a generation of young art collectors.
While an open and unlicensed space like NFTs doesn't necessarily require a traditional art house like Sotheby's, the storied brand has managed to carve out a place in the industry and create a generally positive impression.
In June 2023, Sotheby's headlined its Grails II event, an auction of NFT art held from the bankruptcy of Three Arrows. Grails II included the coveted “Zyu” by Dmitri Cherniak, which was purchased by Punk6529 for a whopping $6,215,100.
A promising trend is that Sotheby's digital art customer profile is skewing younger. Michael Buhana, head of digital art and vice president of contemporary art at Sotheby's, said of the discovery.
“When we look at our customer profile, it's amazing; at Sotheby's, they're 10 years younger than the traditional collectors and customers we see in other categories,” Buhana says.
“When we include digital art pieces in our broader contemporary art sales, we see some nice crossovers with traditional contemporary art collectors acquiring and sometimes bidding on digital art. It's happening the other way around, and we see NFT and digital art collectors showing interest in some of the traditional contemporary artists we offer in these sales.” .
“I think NFT and digital artworks will simply become part of the understanding of contemporary art, and we'll move away from the distinction between NFTs/digital art and contemporary art.”
According to Luca Netz, CEO of Pudgy Penguin, in a recent Unbanked podcast, digital collections currently account for only 1% of total collections compared to 99% of their physical counterparts. Netz is banking on the gap between digital and physical closures for the next decade. Sotheby's is making a similar bet by continuing to grow the presence of digital art among a rich culture of physical art.
“Last year, we did 50% more sales than last year. Our 2023 digital art sales of $35 million is a great improvement and an impressive total for a department that's only two years old. I think we're going to be really busy this year as the market grows and we see growth through the end of the year and into 2025.” Because we wait.
Quick fire question and answer
Favorite 1 of 1 art piece?
Queeny by Hackatao will be one of my favorite 1/1s. Hackatao is a pioneering digital artist known for his unique style and community themes.
What is the most underappreciated NFT project in your opinion right now?
Aspects and Variations by Vera Molnar and Martin Grazer.
Is there an up and coming artist you think people should pay attention to?
With the ones you love the most.
Who are your top three followers for NFTs on Twitter?
Roger Dickerman, Redbeard and 6529
Who do you think has the best portfolio of NFT portfolios out there?
I'm a big fan of what the team at Cured has put together. They have shown good taste for art and culture.
Are you collecting NFT on other chains?
I'm mainly focused on Ethereum due to the maturity of the ecosystem, but I've dabbled in Bitcoin Ordinals and Solana. However, I foresee NFTs becoming chain agnostic in the coming years as people focus more on the art and artist rather than the chain.
Advice on how to survive crypto in the long run?
Know when to take profits, and don't succumb to hysteria. Always have a number in your head and stick to the plan. As is true for all markets, crypto is cyclical and will have boom and bust cycles. Being able to time these market cycles is essential to long-term survival in crypto.
Greg Oxford
Greg Oakford is Head of Development and Partnerships at Upside DAO, Australia's leading crypto and web3 collaboration hub and investment fund. He is an avid NFT collector and founder of NFT Fest Australia. Prior to crypto, Greg was a marketing and sponsorship specialist in the sports industry working on professional events.
Follow the author @GregOakford
