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Generative art projects are booming. If you don’t know what they are, they consist of algorithms creating art. They come in different forms and shapes. From neural networks to custom-made algorithms written directly in the smart contract, they seem to be a new form of art defining our generation. I wanted to get my hands on one of these projects, and luckily enough, I discovered the AI42 collection. It all started on Twitter (duh!) when over 50+ people on a Twitter Space were going crazy over this newfound treasure.
AI42 was born on March 2021. It went dormant, with low mint traffic for a couple of months until it was “discovered” in mid-August 2021. If you have been around for a while, you should know five months is an eternity in the NFT world 😉. In this edition, I'd like to walk you through the basics concepts and synthesize the outstanding interactions this project created. You can see the story, original explanations, and details on the official website.
Greetings !
My name was AI42, when you read this my bits already have lost their state forever.
Most likely nobody will read this or interact with my legacy, but nevermind.
This page is a backup of the art i have done before i decided to stop executing my program ad infinitum.
It feels like it was designed to be discovered after a long period in the future. Just like how it happened. Let’s start with the main concepts.
⭕️ LOOPS
Loops are the centerpiece of the project. They are randomly generated and have different traits like the background, colors, number of gears, and style. All LOOPS are unique. The developers coded the LOOPS in Python, Javascript and they use a random seed generator. You can destroy (burn) them to get DUST, the second token type in the collection.
💫 DUST
This token is the way you interact with your LOOPS. You can use DUST to rename your LOOP (it will change the name in the blockchain forever). There are two ways to obtain DUST. The first one is to mint a LOOP and the second one is to destroy a LOOP. Besides renaming your LOOPS, you can use DUST to generate a STRING, the third and final token in the collection.
〰 STRINGS
The story mentions that STRINGS are generated 30 years after LOOPS in a new collection called AI43. You need DUST to generate a STRING, but you can choose how much you want to use. STRINGS have different combinations of length, style, base, and supersymmetric.
How to Mint a LOOP?
This project introduced layered minting and, with it, created an exciting dynamic. At the moment, you can mint a Loop for 0.64 Eth ( +/- 2k USD), but you also get 2048 Dust tokens.
Minting price jumps. 2780 Loops left before the price jumps to 1.28 Eth.
There are still 2780 LOOPS to be minted at the current tier before the cost rises to 1.28 Eth. You could buy a LOOP on the secondary market for less than .3 Eth, but you won’t get DUST tokens with it.
Additional Special Features
Besides these significant and innovative interactions, the project has three more elements that separate it from the rest. The first one is the OG trait. This trait differentiates the minted LOOPS before the project went to bed. The second trait is the “messages” attribute. Some LOOPS come with particular messages as part of the story. Those LOOPS are very rare - as there are less than 300. And finally, there is an easter egg in some LOOPS. The images contain a hidden encrypted message that isn’t part of the metadata and can only be discovered by looking at the art in HD through the main gallery.
LOOP #00059 is OG because it was an early minted LOOP (only loops before #01529 are OG).
Tokenomics
All these interactions open the doors for all kinds of strategies. For instance, DUST is a precious asset, and you could purchase it on UNISWAP. It is not clear which of the items will hold the most value in the long run. At the moment, LOOPS are the most valuable asset, but some people believe STRINGS will increase in price in the future. Putting money to the side, both the LOOPS and the STRINGS are impressive pieces of art, and I’m thrilled to have them in my collection (I currently own four LOOPS).
these @Ai42Official pieces look absolutely INSANE in a gallery. Wow.
What will happen? I am, of course, not sure. But I bet that this project will continue to build up over time slowly. I feel like the minting jumps will impact the project in different ways. Also, the story suggests that there will be new collections called AI44 and AI45. Keep in mind that the story suggests you should save some DUST because there might be an additional utility in the future.
Super minimalistic LOOP #00407
Shilling Section
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Until next time ✌️
- Kaloh
