Session 5-2: This article is a thread originally posted on Twitter (linked here) summarizing study notes from the Fall 2022 semester of the University of Nicosia’s online course, META-511: NFTs and the Metaverse. Course materials can be found at the UNIC META-511 github account here. The author is not affiliated with University of Nicosia or the META-511 faculty.
1/ Summarizing my notes from session 5-2 of @unicmetaverse META-511 ✍️
In this session @punk6529 and @ArtOnBlockchain engaged in a conversation on how Snowfro first encountered blockchain, the history and evolution of @artblocks_io, and artist royalties as a cultural norm 🎨
2/ Snowfro had been using code to create generative art (creating visual outputs, projection mapping, etc.) for 6-7 years before finding Ethereum in Jan 2017.
While being in charge of a ceramic tile importing business, he started to tinker with smart contracts.
3/ He learned of the CryptoPunks in June 2017 on Reddit. He found them interesting because they were generative, but also because they showed how simply and powerfully ownership of a digital asset could be proven using blockchain technology.
He claimed 34 zombie CryptoPunks🤯
4/ Snowfro views blockchain as revolutionary tech for distribution of 1 of 1 of x artwork. In the past, an artist would create an algorithm, generate outputs, save it to storage, then physically circulate to galleries for display.
Digital art was limited by physical constraints.
5/ He launched Art Blocks (abbr. AB) in its current form in 2020 as a platform for artists to create generative artwork.
Artists submit their curated code, which then generates a fixed number of outputs that are all different, based on entropy in the minting process.
6/ Snowfro views the product market fit of AB showed humans’ desire to be individuals and display / collect things that are unique.
AB requires the algorithm to be stored on chain, and for outputs to be resolution agnostic. This allows AB artwork to be a sovereign bearer asset.
7/ AB initially had three categories. Curated was reserved for artwork that pushed the boundaries of the medium, with Playground being artists previously featured in Curated, and Factory an open platform which soon required a screening process (15% acceptance) due to high demand.
8/ The three categories have evolved into Curated and Presents (replacing Factory). Series designations in Curated were also removed, to allow for smaller editions in the future.
AB has also created a new category Explorations, intended to be accessible AB-commissioned pieces.
9/ Snowfro said AB at one time tried to control distribution by limiting mints to one each wallet, but this only led to NFT drops being botted.
AB now embraces decentralization, accepting what cannot be controlled and trusting holders to be good stewards of the art.
10/ An example of this stewardship is in artist royalties.
Snowfro described royalties as a cultural concept, highlighting examples of AB collectors sending royalties directly to him/AB when purchasing in OTC trades.
People recognize and rally around good cultural practices.
11/ Artists have watched others profit exponentially from their work, and this new tech allows them to participate in their own success.
Royalties are not yet enforceable via smart contract as a transfer is indistinguishable from a sale. For now, they remain a social norm.
12/ Snowfro believes in rewarding those that adhere to good social norms and practices, rather than punish those that stray.
Code should be law, when code can be law. Until then, we must fight for the right culture of the tech so artists (and art) can prosper in the long run.
13/ That is it for session 5-2.
I encourage you to listen to Snowfro’s impassioned thoughts on royalties (50:30), and if you are a Chromie Squiggle holder tune in at 1:43:07 for some license alpha 🤩
The replay is available here 👇
