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What Are Art Blocks NFTs? - NFT

NFT

www.altcoinbuzz.io 02 December 2021 20:55, UTC
  
Reading time: ~3 m

Art Blocks Are the Blue-Chips of the Fine Art NFT World. The Curated Collection Is the Crème de la Crème.

What are Art Blocks?

Art Blocks is a first-of-its-kind platform, and the community treats it as such. Regarded as the premier fine art collection available on the ETH chain, the floor prices are indicative of this statement.

The current floor prices for some of these collections:

  • Fidenza Ξ95
  • Chromie Squiggle Ξ6.8
  • Edifice Ξ2.99
  • Ringers Ξ50

Fine art collectors have been spending eye-popping amounts of ETH on this collection recently.

Art Blocks separates into 3 categories. Curated, Playground, and Factory. This still doesn’t explain what they really are.

What Does An Art Block Look Like?

Art Blocks creates a very cool mint experience for anyone participating. In order to mint:

  • Pick the style that you like (if it is still available)
  • Pay the Dutch Auction Price + Gas
  • An NFT is sent to your ETH wallet

These NFTs could be 3D renderings, static images, interactive or animated. The possibilities are only limited by the creator’s imagination!

They could look like anything. But with so many possibilities, how do you know what to buy?

Art Blocks Curated Collection

Art Blocks wants the most creative and unique content curated as possible. In order to be a part of the curated collection, the most promoted collection on the site, artists’ collections need to be selected by the Art Blocks team.

These collections see the most volume and the highest floor prices on OpenSea.

How much are buyers willing to spend on these curated collections?

The highest price paid for a Curated collection NFT was Ξ2100 or $6.9 Million USD for Ringers #109.

Gm, this Ringer #109 was sold this morning for 2100 ETH ($6.9M USD). You are witnessing history my friends, it’s a beautiful day to have a beautiful day! 🕺✨ pic.twitter.com/gobmdkLW0b

— Farokh.eth is in MiaGMi ☀️ (@farokh) October 2, 2021

But of course, the average NFT trader can’t afford one of these collections. The cheapest NFT available from the curated collection at the moment is Ξ0.3.

Art Blocks hasn’t forgotten about the guppies in an ocean of whales that the NFT world seems like sometimes.

Art Blocks Playground and Factory

Playground and Factory collections allow collectors to get their hands on fine generative art at affordable prices.

Playground is a collection that allows former Curated artists to continue creating. In order to create a Playground collection, artists have to:

  • Have launched a Curated project in the past
  • Have one ongoing Playground project at a time

These projects are much more affordable. They allow collectors to get art from top-tier generative artists for half the price of a Curated piece. The current floor price for an Art Blocks Playground piece is Ξ0.14.

Additionally, Factory allows any artist to create and publish to the platform. The rules for publishing these collections are much more relaxed. Artists do not need to be approved by a board (like the Curated Collection). The current floor price for this collection is Ξ0.032.

Should I Mint Art Blocks?

Yes, you should. For some reason, the mint wars for these collections have started to level off. Bent by ippsketch took 50 minutes to sell out this week, and is since sitting at a floor price of Ξ1.

They typically mint in a Dutch Auction with descending prices every 10 minutes. With Curated collections regularly sitting over the Ξ1 threshold, a well-timed buy could be an easy flip for profit.

Additionally, these are some of the coolest generative collections available. The best generative artists go to this site to have their pieces sold. Buy these pieces to display as Fine Art, or as vehicles for a quick profit.


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