How Art Blocks allows artists to create custom on-demand artwork
Art Blocks Curated is a hub for generative art on the Ethereum blockchain. The platform combines creative coding with blockchain technology to establish a new way of presenting ownership of art.
The best part about this project is that collectors must be willing to spend their crypto with an open mind. Each output is unique, and buyers don’t fully know which generative artwork they will receive until after forking out crypto to receive one.
It’s no wonder collectors find them appealing, with the ever-so-famous Beeple and other innovative artists showcasing their digital artwork on the platform.
But what else does the art hub for generative art have to offer?
WHAT MAKES ART BLOCKS DIFFERENT?
Art Blocks is the first NFT project of its kind. The collection consists of 34,000 different generative NFTs held on the Ethereum blockchain. Generative artists upload their algorithms to Art Blocks before buyers view and pick their favourite one.
Once buyers decide on which style of artwork they like out of the bunch, they press ‘mint’, despite not knowing exactly how the NFT will turn out. When the NFT finishes the minting process, the blockchain records the algorithm used and what it took to create the state-of-the-art digital asset.
A key perk about the NFT platform is that collectors can commission a piece of art from a digital artist and make money in the long run. In addition, the NFT can be sold and traded on secondary marketplaces like OpenSea, where some sell for millions.
THE LOGISTICS BEHIND THE PLATFORM
If wanting to invest in such digital assets on the platform, it’s vital to know the three types of categories available. These include:
- Curated: Curated is the top-tier NFT collection. The team behind s carefully selects projects before placing them on a curation board. These digital pieces of art mainly focus on innovation and aesthetic beauty.
- Playground: Artists in the Curated Collection can deploy more projects in the Playground. It’s a way for the selected artists to continue exploring and expanding their creative flairs on-chain.
- Factory: The “Factory” section is for creators who do not want to wait for approval or the team behind the project didn’t accept to join the curation board (Curated). The reasons are due to algorithms being lax.
It’s essential to note that NFTs from the factory typically sell for a lot less than collections in the Curated and Factory categories. Thus, they aren’t as good of an investment. For example, Chromie Squiggle #3784 from Snowfro sold for a whopping $2 million in August last year, whereas Factory NFTs sell for considerably less.
REASONS FOR COLLECTING ART BLOCKS NFTS
At first, to collect an Art Blocks NFT, you must pick your preferred style of artwork and pay for the product before receiving a randomly generated version of the content—all of which an algorithm designs before pinging to your Ethereum account.
To do so, you must buy Art Blocks through an initial drop or on a secondary marketplace like OpenSea. Although, the chances of purchasing an NFT on the platform at a reasonable price via an initial drop is much higher. NFT art continues to rise in price, especially for rare and unique tokens sold on secondary marketplaces.
HOW TO BECOME A CURATOR
Following the project’s popularity, Art Blocks has become increasingly selective, only accepting roughly 15% of applications. But don’t let this put you off applying; you could be one of that lucky 15 %.
For a chance to become a curator for Art Blocks, you must fill out this application form. The team behind the project will then dig through the submissions in chronological order, firstly prioritizing applications with the best prototypes.
The Art Blocks team usually accepts around 20 applications per week. Don’t panic if you do not hear about the whereabouts of your application for a hot second—applications can take a few months to reach and review over high demand.
ARE ART BLOCKS DIGITAL ASSETS A WORTHY INVESTMENT?
Regardless of which NFT project we are looking at, all NFT investments come with some risks.
We advise to assess the overall market and individual NFT collections before deciding whether or not the purchase is worthwhile in the long run.
On the other hand, this project could be an excellent choice if being a lover of unique art, crypto, and state-of-the-art surprises.
Not forgetting, much of the proceeds from Art Blocks support education, the arts, generative art, and technology, so your crypto will assist towards good causes.
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