Non-Fungible Tokens, or NFTs, have remained a buzzword on the internet since their rise in 2021. Mostly, they are widely known for their use as profile pictures on social media platforms amongst celebrities and individuals. However, NFTs are much more, and in recent years, new types of NFTs have upped the overall NFT experience.
Art Blocks NFTs are a different class of NFTs in how they are created. Known as algorithm-driven style arts, Art Blocks NFTs make up some of the top NFT collections. Due to their unique style, they are often referred to them as an innovative form of digital art. In this article, you will learn about Art Blocks NFT and what makes them different. Let’s get started.
What are generative NFTs?
Before we go into what Art Block NFTs are, it is important to know what generative NFTs are. Generative arts are arts that are generated using a computer algorithm. The artist using this method sets a particular set of variables, traits, and styles which the computer then uses to create unique pieces.
While Generative art has been around for decades, it didn’t come to the limelight until the rise of Generative art NFTs. As explained earlier, Generative arts are created algorithmically using variables and traits the artists pre-coded. Therefore, the artists do not determine the result, they only influence it.
Generative art NFTs are created in the same way as generative art. Most NFT collections use this method as it makes it easier for the NFTs in the collection to be created. Imagine artists having to hand-draw or use software to create every piece within a collection.
The artists create the rules that guide the creation of these NFTs. These rules are what the computers follow to produce the result. Through this method, it becomes possible to generate thousands of unique designs in milliseconds.
What are Art Block NFTs?
Founded by Erick Calderon in 2020, Art Blocks is an Ethereum-based generative art NFT that is created via algorithm. Art Blocks spans an array of NFT collections by different artists.
Art Blocks NFT are generative arts and they rely on algorithms to be randomized. Popular collections such as CryptoPunk are generative arts as they also rely on the algorithm to be randomized. Hence, why thousands of them can be created all at once.
However, Art Blocks NFTs are different from other NFTs. In the case of CryptoPunk, NFTs within the collection are already minted. That means a collector who wishes to buy them knows what they are buying.
Art Blocks on the other hand are minted after the collector pays for the NFT. Thus, each piece created is unique and unpredictable. This unpredictability is one of the reasons for its success as it introduces a new experience to collectors.
How does Art Block generate NFTs?
We have spoken about generative NFTs and how they are created using an algorithm and preset data. Art Block NFTs follow the same routine. If an artist wants to create an NFT collection on Art Block, they will first upload their code to the platform and set a specific number of NFTs to be minted from it.
The final image is produced by the script during the minting process using the hash string or “seed” that the token provides. Each image generated is unique and created in real-time. It is at this stage that the user gets to see what the NFT they purchased looks like.
Despite this method of creating NFTs, each NFT created is unique and different from the others. Although, the base traits and attributes coded into the algorithm will still be present in all the NFTs. The manifestation however differs.
What are Art Blocks Collection Tiers?
There are three tiers of projects on Art Blocks and each will be considered below. The three tiers have requirements, some of which are stricter for one than the other. These requirements apply to artists who wish to create NFT collections on the platform. For the platform itself, classifying collections on the platform is for quality control. Without wasting time, let’s dive into the collection tiers on Art Blocks.
Curated
NFTs added to this tier are deemed to be highly innovative in design and appearance. It is also the most difficult to get into. For an NFT to be added to this group, they must undergo a verification process that could sometimes span beyond two years. It is, therefore, not surprising that no artist has more than one project in the curated collection.
Overall, the curated tier collection embodies the vision of Art Blocks. It is no surprise that sometimes, members of the Art Blocks team handpick NFTs to be added to the list. If you are new to Art Blocks, the curated collection is an ideal starting point for high-quality NFT collections.
However, the price to pay for the quality is the high price tag NFTs within this tier carry. But if you do have the money, then it could be worth it.
Playground Collection
This collection has less strict rules compared to the curated collection. However, artists who wish to have their collection in this category must have released a collection on the curated collection. Simply stated, only artists who have works in the curated collection can have their works in this tier.
As mentioned earlier, the rules within this tier are less stringent. One of the rules is that artists can only release a project at a time. Those who wish to add more than one collection to this tier must wait a month before they do so. Also, they are expected to experiment with the projects created under this collection.
As the name suggests, the playground collection is where artists are expected to experiment with their creativity.
Factory Collection
The factory collection hosts NFTs by artists who couldn’t add their works to the curated and playground collection. The collection is also a preferred option for artists who don’t want to go through the stress of the curated collection. Most of the works in this collection failed to make it into the curated collection.
The verification process is easy compared to the curated collection. Thus, artists can easily and quickly launch their projects. The only rule that applies is that the NFTs to be added must be functional. The only downside to the factory collection is that artists can’t have works on the playground and factory collection simultaneously.
Popular NFT Collections on Art Blocks
Art Blocks hosts collections by renowned digital artists in the NFT space. And if there is anything about Art Blocks, it is their uniqueness and distinct characteristics. Here are some of the popular NFT collections on Art Blocks:
Fidenza by Tyler Hobbs
Fidenza is one of the biggest collections on Art Blocks. Over time, the collection has recorded massive sales. Some of the NFTs within this collection have hit seven-figure prices on secondary markets.
Created by digital artist Tyler Hobbs, the collection is named after a small Italian town the artist stumbled upon on Google Maps. The collection was launched in November 2021 and had 999 unique items.
Despite the harsh state of the overall crypto market this year, the NFT collection continues to enjoy moderate success. The collection remains a top collection and currently has a floor price of 96 ETH (around $112,000).
Chromie Squiggle by Snowfro
Chromie Squiggle is one of the earliest works created on Arts Block. The NFT collection was created in November 2020 and consists of 10,000 pieces.
The collection was created by Snowfro, an alias for Art Blocks’ founder and CEO, Erick Calderon. Much like Fidenza, the collection has weathered the crypto winter storm well. It remains a top-selling NFT collection with a floor price of 13.5ETH (around $16,000).
Ringers by Dmitri Cherniak
Created by Dmitri Cherniak, RIngers is one of the most popular collections on Art Blocks. Its popularity is due to its uniqueness and the endless variations in its design.
The collection was created in 2021 and comprises 1,000 pieces. The collection is also a top collection on NFT secondary marketplaces and has a floor price of 65ETH (around $76,000).
Artblocks.io has a detailed FAQs page that guides you through common questions. It is text and video and just about every answer you could imagine.
Where can you buy Art Blocks NFT?
NFT collections on Art Blocks passed $100 million in trade volumes early last year. The platform peaked in November 2021, almost the same time as most other major NFT collections, such as Bored Ape Yacht Club (BAYC).
Although the trading volume of Art Blocks NFTs has dropped, they continue to be a major player in the NFT space, driving unique experiences for collectors seeking something else. There are over 100,000 Art Blocks NFTs on the market and over 150 different NFT collections.
Art Blocks NFTs can be purchased on secondary markets such as OpenSea.
Conclusion
Generative arts NFTs introduce a new experience to the NFT space. For many investors, the thrill is that NFT designs are only seen after they have been minted. For others, it is Art Blocks’ vision to push the boundaries of digital art designs. Undoubtedly, Art Blocks NFT will continue to be a major player in the NFT market far into the future.
Source NFT NEWspro
