Neolastics is a digital art project that can automatically mint and burn unique, psuedo-randomly generated neoplasticism inspired cubes of collectible digital art. An automated liquidity system sets the prices for the cost of minting pieces, and the reward for burning pieces.
First deployed in December 2020, it's one of the first ever onchain generative art projects (using no other scripts and only using SVG) and the first project employing a native bonding curve directly for minting NFTs.
Mint
Current Cost: 0.359 ETH.
Current Buffer: 0.01 ETH.[You are not connected to an Ethereum wallet. You need to have a web3/Ethereum-enabled browser and connect it (see top right of the page). Please download the
MetaMask Chrome extension or open in any Ethereum-compatible browser.]
NOTE: This code is *unaudited*, but has been running without hiccup since December 2020. Caution is still advised unless you want to take the risk.
Buffer?
Above and beyond Ethereum computation and storage costs, it currently costs 0.359 ETH to mint a new psuedo-randomly, on-chain generated Neolastic.
However, a buffer of 0.01 ETH is added to the cost ensure that the transaction succeeds (because only one neolastic per price point can be minted). If there's high demand (more than one mint transaction per block), a part of the buffer will be used to pay the mint cost at the time of confirmation. If no one else buys during the same block, you are refunded the entire 0.01 ETH buffer. If more than 10 buys occur in one block, the minting transaction can fail (too much demand for the pricing curve based on the time the transaction is issued and when it is mined/confirmed), but you will still be refunded.
Collection Details:
Currently, there are 359 Neolastics in circulation.
The reserve pool is currently 64.2969 ETH.
Current Minting Cost 0.359 ETH.
Current Burning Reward 0.357205 ETH.
Total Ever Minted: 2563.
Total Ever Paid: 1113.721 ETH.
Algorithmic Pricing Details
Any collector can pay to mint a randomly generated neolastic piece based on the hardcoded price formula (using a bonding curve). If there are more neolastics in existence, it becomes more expensive to mint the next neolastic. The price that a neolastic collector will receive upon burning their piece is based on how many neolastics currently exist. If there are more neolastics in circulation, then the floor price of your piece will be higher. 99.5% of each mint cost is stored in a communal reserve pool that acts as a buyer if any collector wants to burn their neolastic.
Technicals
- Code is available here:
https://github.com/simondlr/neolastics.
- The price curve is linear, starting at 0.001 ETH for a Neolastic piece. Each new piece increases the price by 0.001 ETH.
- 99.5% of the price is kept in the bonding curve reserve. 0.5% goes to the creator.
- There exists 6 colours, with white, black, red, blue, and yellow being equally likely (~20%).
- Green is rare (~1/256).
- The colours are chosen from the first 9 bytes of a psuedo-randomly generated 32 byte hash.
- A maximum of 10,077,696 (6^9) potential combinations can thus exist.
- Duplicates are possible with different hashes.
- Every neolastic is stored as its hash on Ethereum and can be auto-generated directly from the smart contract into an SVG blob. Thus, if this website goes away, you would always be able to own and view your neolastic.
- It uses the ERC721 NFT standard, and uses the 'image_data' field from OpenSea to enable the metadata to be more readily viewed by others (vs directly pulling it from Ethereum).
About The Artist:
I'm a creator at heart. I have created games, writing, music, code, companies, and new economics. Solving the problems of the creator has always been important to me. In the past I co-founded Ujo Music, working with Grammy-winning artists such as Imogen Heap and RAC to launch the first music royalty projects using smart contracts. I've helped kickstart wholly new markets and economies. I helped to create the Ethereum ERC20 token standard and token bonding curves, technologies that's currently facilitating economies worth several billion dollars of value. I enjoy creating new forms of art and experimenting with ways to empower the creative industry.
See my other art projects here:
https://blog.simondlr.com/art.
Swing me a follow on Twitter!
@simondlr.
