How far can the art of generating new outlets in the NFT market go?

In the past month, generative art NFTs have begun to dominate the OpenSea Top list. From Cryptopunk to Art Blocks , from Bored Ape Yacht Club to Ether Rocks, NFTs that seem to have a fever in the data, in fact, the popularity is not diminishing, and NFT is new. The trend is slowly sweeping the entire market.

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Fidenza(#313)by Tyler Hobbs

In August, the NFT artwork named Fidenza (#313) minted by Art Blocks, created by Generative Artist Tyler Hobbs, was sold for 1000 ETH; then, Ringer #879 created by Dmitri Cherniak was sold for 1800 ETH, creating Art Blocks The transaction history of… Generative art and Art Blocks, a platform that focuses on planning and casting Generative Art, have been pushed to the forefront of the trend. According to OpenSea official data, Art Blocks, which was still the second child at the beginning of this month, has now leapt to the first place. The increase in the past 7 days has reached 233.9%, which greatly suppresses the momentum of Cryptopunk.

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Top NFT list in the past 7 days (Source: OpenSea / 2021.9.13-9.19)

The Charm of Generative Art Department NFTs

Generative art is not a new thing, it can be traced back to the 1960s. Fundamentally speaking, the NFTs of the Generative Art Department are not created by artists directly, but by algorithms to generate artworks to express the ideas and ideas of the creators.

“Marriage” of Generative Art and Blockchain

Combining the current blockchain technology and data algorithms, the artists make their creations affixed with various proprietary attributes of NFT. For example, the generative art on Art Blocks covers from graphic paintings to interactive 3D artworks, and the types involved are quite rich. Artists can create an algorithm or script and deploy it on Ethereum , develop various NFT styles of the project by experimenting with various constituent elements, and then perform casting. Traditional art aesthetics and blockchain data are thus combined with each other to produce a new encrypted original thing.

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Ringers by Dmitri Cherniak

From visual perception to artistic performance, each of the items on Art Blocks is different, and some of them are also sold at prices similar to those in real life because of their extremely high artistic value. For example, we mentioned the Fidenza series and the Ringers project at the beginning.

Fan’s Carnival

For ordinary encryption enthusiasts, the interesting thing about Generative Art NFTs is not only the way it is created, but also the way users participate. On Art Blocks, users can select the NFT project they are interested in and then cast, but until they receive the NFT work, the user has no idea what the NFT of this generative art department looks like. Isn’t it interesting? Yes, a psychological feeling similar to playing a blind box: you know what it is, but you don’t know what it will be?

In addition, Art Blocks has also held a Dutch Auction, which is a reduced-price auction, starting from a higher starting price and gradually reducing the price until it is sold out. Last month, the artist Radix’s Eccentrics 2: Orbits project sold 500 pieces in about 4 minutes in this way, each at a price of 5 ETH (about 16,000 US dollars), which means that when the primary market is sold , The total amount reached 8 million US dollars.

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Another example is LOOT, an emerging project that has become popular throughout the NFT market in just one week. It is comparable to the “game of game” gameplay, an open experiment, and the creativity of plain text NFT. Some people call it a project of collective imagination. . From head to toe, the LOOT project has received unprecedented attention. Although, whether LOOT can really be regarded as a generative art department NFT, there is no clear answer. But it is undeniable that its popularity is enough to arouse public attention to the relationship between NFT and generative art!

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Investment art and investment value

Perhaps some people would think that this kind of interesting price-cutting auction operation will reduce heat and demand, no, not at all. In addition to collections, many successful bidders quickly went online to the secondary market to change hands. For example, they put them on OpenSea for a mark-up. Such a “collection hobby” has suddenly become a kind of “sweet and sweet” investment tool.

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The average price increase of a single NFT work in the past three months (Source: The Block)

According to media reports, OpenSea, the largest NFT trading platform on Ethereum, has just released its mobile app, which is simultaneously launched on the Apple and Google app stores to better serve its users. According to The Block data, OpenSea was the trading platform with a transaction volume of more than 1 billion U.S. dollars in the first month last month. At the same time, most of the NFT transaction volume this month came from the OpenSea platform.

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From June 2020 to present, the monthly trading volume of the NFT trading market (Source: The Block)

Those who watch the excitement don’t stand outside

The excitement of the NFT market has also attracted many traditional industries and large companies to test the waters.

From Visa’s official announcement that it had purchased a Cryptopunk to support creators, collectors and artists to jointly promote the commercial development of NFT; to the cover of cryptocurrency-themed journal NFTs designed by Fortune magazine and digital artist pplpleasr (the series total 256) have sold more than 200 pieces, each with 1 ETH. In addition to donating income to non-profit organizations, “Fortune” magazine will also temporarily hold ETH, which will not be exchanged for US dollars. This shows the magic of NFTs and cryptocurrencies.

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MealDrops: Generative Art NFTs that are only given away but not sold

CoinBurp launched its first generative art NFTs last month-MealDrops (food airdrops), limited to 500 unique NFTs, with the theme of cuisine from all over the world. What’s interesting is that this series of NFTs are only given away, not sold, and only as a reward for the $BURP exclusive NFT lottery program, but lucky winners can earn more than one way.

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MealDrops like no other

According to reports, each MealDrops consists of up to 9 elements (5 items are required elements, 4 items are optional elements), and it also distinguishes rare levels: white is common (Common), green is rare (Uncommon) , Blue is rare (Rare), purple is epic (Epic), gold is legendary (Legendary). Depending on the rarity level, in addition to the difficulty of obtaining, the pledge return rate will be different accordingly (refer to the figure below).

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Flexible pledge, smart winning coupons

For users who want to participate in the $BURP exclusive NFTs lottery program, staking $BURP is the only way.

Basic money: For every $BURP token pledged, 1 share is calculated (basic multiplier: 1x). You can get 1 lottery ticket with 5000 shares per month.

Flexible: Staking enough $BURP tokens or enough time to get a share, and the share can be increased through the reward ratio:

① Increase the pledge duration, the shortest is 1 month, the longest is 1 year, in order to obtain different bonus ratios.

② Apply to pledge MealDrops NFTs, or other pledgeable NFTs provided by BurpToken.com partners.

For more information about MealDrops Generative Art NFTs, $BURP pledge and exclusive NFTs lottery plan, please refer to the following blog posts:

CoinBurp exclusive generative art department MealDrops NFTs revealed

$BURP pledge strategy

“1+1>2”, CoinBurp has no threshold to play DeFi+NFT

$BURP ecosystem leads NFT→GameFi meta-universe new world

It is worth mentioning that the prizes in the $BURP exclusive NFT lottery program are exclusively customized and provided by partners in the $BURP ecosystem. These NFTs can unlock multi-level rewards for users through double staking on BurpToken.com and obtain the corresponding staking ratio. In the future lottery plan, more partners will provide $BURP pledge users with a variety of NFTs, including: Avastars, NFT Boxes, Polychain Monsters, Brokoli, Ethermon, ChainGuardians, and Crypto Prophecies.

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In addition to staking through BurpToken.com dApp to win raffle tickets, in the future, raffle tickets can also be purchased on third-party trading platforms (such as OpenSea).

Currently, the $BURP exclusive NFT lottery program has been officially launched. The first lottery prizes are provided by CoinBurp and The Sandbox, with a total of 200 exclusive NFTs! For participation details and strategies, please refer to the official release:

The $BURP exclusive NFT lottery program is officially launched. Double rewards will start immediately

Among the 100 most influential people in the world in 2021 Time magazine published this month, Ethereum founder Vitalik Buterin founded and promoted the development of the Ethereum network, making its market value more than 420 billion U.S. dollars, and promoting emerging companies . The development of centralized applications and NFTs is among them.

It is undeniable that from the early digital art and games to today’s generative art, music, real estate, digital rights, and plain text, the NFT market is moving in the direction of unlimited creativity and diversification of gameplay. As far as the Generative Art Department is concerned, perhaps this is just the beginning, and more elements, such as the integration of DeFi, zero-carbon, and fragmentation concepts, gradually enter our field of vision, which will enable the Generative Art Department’s NFTs to produce more creativity. It will bring more development segments and sparks of inspiration to the NFT market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-far-can-the-art-of-generating-new-outlets-in-the-nft-market-go/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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