Art Blocks Does It Differently And Frequently

Unlike other NFT collections, Art Blocks is a platform. Its focus is generative or algorithmic artworks. The artists create the style of the collection, the colors, and forms, or the “blocks” if you will. Each mint sorts through endless possibilities to create a unique piece. At minting time, the customer interacts with a generative script and the result is a randomly generated, unpredictable work of art. Depending on the collection, the resulting NFT can go from a static image to a multimedia experience.

In most of the other Blue Chip collections, like World Of Women or Doodles, an artist or a group of artists creates the art and its different traits. In contrast, multiple artists constantly create Art Blocks collections. As you might imagine, some of them are more valuable than others. The platform’s creator is Erick Calderon, better known as Snowfro. He’s the artist and coder behind Art Block’s first and flagship collection, Chromie Squiggle. You’ve probably seen them around, and one of the squiggles serves as the logo for the whole platform. 

Other iconic and multi-million dollar collections launched through the platform are Fidenza by Tyler Hobbs and Dmitri Cherniak’s Ringers. Of course, those are the stand-out, incredibly successful ones. New collections and projects launch through Art Blocks every week, as you can see in this very busy calendar. To avoid gas wars at minting time, the platform uses the Dutch Auction method. That is, the sale starts at a high price that lowers as time goes by. The clients wait for their ideal price, if it ever gets there.

How Does Art Blocks Work?

So far, the platform has generated $277M in primary sales and a whopping $1320M in secondary sales. The platform royalties are 10% for primary and 2.5% for secondary market sales. The artist receives a fair 5% for each secondary resale. From primary sales, there’s a mandatory 25% donation to the artist’s favorite charity. Which is interesting, but wow.

According to Art Block’s website, they offer “genuinely programmable on demand generative content that is stored immutably on the Ethereum Blockchain.” That’s not entirely true. The script and the NFTs are there, presumably forever, but the art is too complex to be stored on-chain. The files are in IPFS or other storage solutions.

Art Blocks also claims that “collectors actively participate in realizing an artist’s vision by generating unique algorithmic artworks,” which is debatable. The…