Simply Explained: Art Blocks
Art Blocks is a unique, Ethereum-based platform that serves as an outlet for digital artists to express themselves. Let's take a closer look at what Art Blocks is, who's behind it and how you can get your hands on these one-of-a-kind generative art pieces.
What are Art Blocks?
Art Blocks is an on-demand platform that generates content for collectors. Therefore, instead of selecting a specific art piece to buy, you choose the artist and collection from which you’d like to purchase a piece. When purchasing your NFT, no one knows what it will look like, the final piece is determined by the code the artist has written in conjunction with your Transaction ID count.So you don't fully know what the piece will look like until you've bought it! These one-of-one creations can take many forms – a static image, 3D models or even an interactive experience; the possibilities are endless!
Once you purchase a generated art piece with the style you selected, it will be sent to your Ethereum wallet. In some cases the algorithm combines with the blockchain to produce unique pieces that surprise even the artist!
The History of Art Blocks
Art Blocks was brought to life by 39-year-old Nick Calderon in November 2020, who drew inspiration from Larva Lab's CryptoPunks (he minted 34 CryptoPunks).On the NFA Podcast, Calderon stated:
“The claiming of the CryptoPunks was one very important reason why Art Blocks exist.”
Calderon redeemed CryptoPunk #1478 for free on June 23rd 2017. Click here to see the transaction history.
During the Covid-19 Pandemic, Calderon devoted time to learning JavaScript, which helped him turn his vision of Art Blocks into a reality. Following the initial release of Art Blocks, he announced his first project Chromie Squiggle, which was a significant success, with 9,281 pieces out of 10,000 minted.
The current mint of Chromie Squiggle has been paused as "they are now reserved for manual distribution to collectors and community members over a longer period". However, you can purchase some of these art pieces on secondary markets such as OpenSea. The current floor price is 6.94 ETH ($19,891).
In August 2021, Calderon made $600 million (184 Ethereum at the time), thanks to 51,000 different transactions on the platform in that month alone! The success of Art Blocks enabled new and upcoming artists to grow on the platform. The result? A community of like-minded creative individuals who want to share their artistic passion and vision.
How does the Art Blocks system work?
There are three main project categories on Art Blocks:- Curated Project: Art Blocks created a Curation Board. This curation board will decide which artist they want to verify and feature in the Curated Collection.
Elevated Deconstructions #110 by luxpris - famously owned by Snoop Dogg and sold for 85 Ethereum.
- Playground Project: This is where curative artists get creative and experiment with new ideas.
The Eternal Pump #11 by Dmitri Cherniak - sold for 450 Ethereum
- Factory Project: this section is for unverified artists awaiting approval by the curation board, but they still can sell their collection. The artists are looking for exposure within the community and must follow standard guidelines.
dino pals #41 by hideo - sold for 375 Ethereum
So who owns these types of art pieces?
Many people own these collections, mostly art enthusiasts, collectors and a few celebrities. You may have heard of the rapper Snoop Dogg, who recently doxxed himself under the pseudonym 'Cozomo de' Medici'.
How to buy Art Blocks?
You can mint a unique version of the artist's work hosted on the Art Blocks platform. If work has minted or paused, they're usually available to purchase on secondary markets like opensea.io - some at a fixed price, while others are sold via auction.Are you interested in this project? Would you mint/purchase one? Let us know in the comments below! Want to read more content similar to this? Click here to learn about CryptoPunks and how it sparked a revolution within the NFT world!
Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make, and only you are accountable for the results.
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