Art Blocks: When generative art breaks records

NFTs continue to amaze us with the prices of the works sold. Every day, new sales amounting to millions of dollars attract new fans. The art market is booming and NFTs are the glories of decentralized finance.

We had experienced the craze of NFTs with the works of Beeple, and this summer, it is with the Art Blocks platform that the phenomenon is taking on a new dimension.

What are Art Blocks and Generative Art?

Art Blocks is an NFT platform that launched in 2020 and initially went largely unnoticed, with the spotlight at the time being focused on NFT platforms like Rarible and OpenSea . However, the Art Blocks platform has a unique characteristic that is very typical of NFT artworks that have sold for very high prices.

This is called generative art.

Yes, if you didn't already know, I'll tell you here: one of the common threads among the works that have become so popular in the NFT scene is that they are all created using algorithms. Whether it's Hashmask , CryptoPunk , or the monkeys of BoredApeYatch Club, they all share the common characteristic of having been created by algorithms.

Thus, the Art Blocks platform distinguishes itself from other NFT platforms by offering more than just a space to buy and resell artwork. Instead, on Art Blocks, users and artists alike can generate artwork on the platform using an algorithm. This algorithm is then hosted on the Ethereum blockchain.

How does ArtBlocks actually work?

When a person wants to buy works, a key (seed) is then generated and it is this which will give the characteristics of the work. When we talk about characteristics, we refer to the colors of the painting, shapes, etc. And, according to the algorithm, we then have a unique work with its own characteristics.

Even stranger for an NFT novice, neither the buyer nor the creator (should we still call him an “artist”?) know what the work will look like. We cannot manipulate or control the final work.

That said, the artist can still determine certain elements such as the number of works that can be created by the algorithm and the initial sale price of the work.

From the start, many were very greedy, hence the fact that the works were sold at high prices.

I'd like to remind you that the artist earns a 5% commission on every subsequent sale, indefinitely. I like the word "indefinitely," and it means passive income from crypto in the context of personal finance.

Remember that the platform takes 10% commission on first sales then 2,5% on subsequent sales. Not a bad economic model, don’t you think?

Finally, the simplicity of certain works like the Chromies collection (which are simple pencil lines in images) may surprise you, but tell yourself that art is an art and that subjectivity and prices are up to each eye and to the viewer. portfolio linked to it.

Final Word on Art Blocks

Now I see you coming, you little rascal, you're wondering how to join in, aren't you?

Well, know that for buyers, the platform is open to everyone. For artists, this is an obstacle course because you have to submit your application to the Art Blocks team.

In any case, the works sold on ArtBlocks hit the headlines and made collectors in this new world millionaires overnight.

A madness that doesn't seem ready to stop!

• Discover ArtBlocks
• Know how sell NFTs (ractually)
• All articles in the section NFT on Zonebitcoin

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Disclaimer : This article is provided for informational purposes only. It is not financial, legal, tax, or investment advice. Always conduct your own research before investing in cryptocurrency.

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