17 Aug Generative Art NFTs: Rising Trend or Fad
Ever heard of “Generative NFTs”?
If you’ve ever spent time scrolling through OpenSea’s “Explore” tab, you’ve probably come across a number of collections that aren’t like the more common PFP NFTs, but generative art.
This NFT art genre depicts an algorithm-driven aesthetic that has recently acquired popularity among both digital artists and digital art fans. But what exactly is generative art, and why is it so highly sought after?
What Is Generative Art?
The term “generative art” is frequently used in the NFT arena, although not everyone understands it.
Generative art is defined as art made by a machine that can generate colors, patterns, and forms at random and organize them into an artistically acceptable piece of digital artwork.
(Basically, generative art is a collaborative effort between a real artist and an autonomous system!)
Generative artists use code, algorithms, and a set of rules to create a technique that a computer program may use to make new works of art. As a result, the terms “algorithmic art” and “generative art” are sometimes used interchangeably.
While the process of making generative art may appear to be a logical and predictable way of creating art, it is far from that. Generative art often uses AI to create art based on an initial set of commands provided by artists. So, the computer program is influenced by the artist’s instructions yet functions in its creative process, producing unique artwork that may even surprise the artists themselves.
Furthermore, elements that play a synergistic role in generative art include randomization, algorithms, and geometry. Without randomization, the output of generative art would be predetermined by the creator.
Incorporating algorithms into generative art aids in creating fantastic art, while geometry may aid in creating stunning visual effects.
What Are Generative Art NFTs?
Generative art + NFTs = Generative art NFTs
These are pieces of generative art made by a smart contract and saved on-chain in the form of an NFT.
If you didn’t already know, NFT sales increased dramatically since they came onto the scene, reaching $25 billion in 2021 alone. This was a more than 21,000 percent increase in sales over the previous year. Today, NFTs allow people to own generative art while providing artists a platform to create generative art using smart contracts.
Furthermore, AI-powered art has slowly begun to capture the interest of NFT collectors and art fans, which might expand the generative art industry.
Whether built as an NFT or not, generative art is made by executing a computer algorithm. However, minting a generative art NFT adds a new dimension to the piece of art that would not have been possible otherwise.
Artists can create generative art NFTs by embedding code into their work, such as the current gas price, wallet ID, or transaction ID. While humans have created most NFTs, the emerging AI-generative NFTs highlight the possibility for artists to work with machines to create unique art pieces.
Where Can I Purchase Generative NFT Art?
With the popularity of generating art NFTs growing, various specific sites have developed to cater to generative art lovers. For instance, Ethereum-based Art Blocks has emerged as the go-to platform for generative art.
fxhash is another prominent NFT marketplace. fxhash is an “open platform to generate and gather generative NFTs” based on the Tezos network. You may also purchase NFT art from prominent NFT markets such as OpenSea, LooksRare, and KnownOrigin.
The best-selling generative art NFT projects
Now that we’ve covered the fundamentals of generative art, let’s have a look at some of the best-selling generative art NFT projects:
Autoglyphs is the first on-chain generative art NFT project created by Larva Labs, the makers of CryptoPunks. Autoglyphs, according to the creators, are “an experiment in generative art, each one unique and made by code.”
Back in 2019, anyone could purchase these NFTs for 0.2 ETH (about $35 at the time). However, the quantity of Autoglyphs was restricted to 512. Due to their rarity, these NFTs now have a floor price of 244.9 ETH (10/08/22).
Fidenza is one of the most well-known generative art NFT projects on Art Blocks. It has 999 NFTs, with the lowest NFT costing at least 83 ETH (about $102,000).
The Lost Poets game is described as a “multi-stage NFT collection and strategic game.” The project’s initial installment, “Pages,” had 65,536 single-edition NFTs. Furthermore, each NFT in the collection was created by an AI.
Solvency, the brainchild of Ezra Miller, is a limited edition collection of WebGL (an open-source standard for 3D animation on the web) artworks.
Solvency consists of 500 editions of artworks produced based on the hash of the token coined by the collector. In other words, the hash affects the patterns and textures of the artwork, some of which are more uncommon than others.
Dmitri Cherniak, a Canadian artist and coder, created Ringers, which comprises 1,000 generative art NFTs. These are distinguished by a network of “strings and pegs.”
The collection was created on the Art Blocks platform and is one of the site’s best-selling NFT collections. The current floor price is 60 ETH 10/08/22).
Should You Include Generative Art NFTs in Your NFT Collection?
To be honest, it’s tough to predict the future of generative art NFTs because creating art with AI is still a trial-and-error process. However, if history has taught us anything, it is that we should not dismiss emerging technology. It has happened with Bitcoin and, more recently, with NFTs.
Furthermore, generative art NFT projects are already seeing growth based on total sales volume, demonstrating the possibility for crypto art that is more creative than JPEGs of apes.
While generative art isn’t new and has been around for a while, the addition of NFTs gives it a fresh look.
And, while it may be a while before generative art NFTs achieve the success that specific NFT projects or even conventional artists like Picasso had, there is no disputing the promise that has been demonstrated by how NFTs erupted in 2021.
However, before acquiring generative art NFTs, collectors must pay close attention to market trends and conduct considerable research.