An Ethereum NFT initiative dedicated to Queen Elizabeth II, which generated hundreds of pieces of commemorative artwork for the last two months, is currently holding its final auction for the collection.
After learning of the Queen's death last evening at the age of 96, the project announced 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.
In July, QueenE began holding auctions for a single Ethereum NFT picture created as a memorial to the queen.
The QueenE Twitter account hinted at a forthcoming "Gen2" collection, but no information has been made public as of now.
Project format borrowed from NFT project Nouns
The project, reportedly developed by Web3 creator Fabio Sevá and the anonymous mladen.eth, was intended to continuously release new procedurally produced works for the remainder of the Queen's reign.
The initiative borrowed its style and technology from Nouns, an innovative NFT project that allows purchasers into an exclusive club by auctioning off a single Ethereum-based profile photo each day, but added a royal touch by offering low-resolution images of Queen Elizabeth II.
The QueenE auctions were once held every several hours, but now were often happening once a day.
The auction
“Once portraits of the Queen, every day... ending today. Rest in Ethereum, forever,” reads the Twitter bio of the project.
The final QueenE Gen1 NFT currently has a top bid price of 0.5 ETH, or around $825, and the auction is scheduled to expire just before 4 AM ET tomorrow.
The collection's QueenE #23, which sold for 1.9 ETH on July 27, had previously commanded the highest ETH sale price of any item, equivalent to $3,275 at that time.
Since Queen Elizabeth II's demise, 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 around $1,450.
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