Thursday, May 19, 2022
HomeHistoryOwn A Piece Of History With The Beautifully Simplistic Autoglyphs NFTs

Own A Piece Of History With The Beautifully Simplistic Autoglyphs NFTs

Although relatively new, the generative art movement has gained momentum in recent months. Many generative art NFT platforms and projects have emerged since NFTs gained popularity in the early part of last year. Autoglyphs is the most successful “on-chain” generative arts NFT project.

Different Autoglyphs NFTs with beautiful patterns
Autoglyphs are the first on-chain generative art NFTs. Credit: Larva Labs

Let’s dive deeper into Autoglyphs and why they are extremely valuable.

What is the Autoglyphs NFT project?

Canadian software developers and Larva Labs founders, John Watkinson and Matt Hall launched Autoglyphs back in 2019. Larva Labs is also the team behind CryptoPunks, the OG NFT collectibles. Autoglyphs, in fact, is their second project after CryptoPunks.

So, what exactly are Autoglyphs NFTs?

Put simply, Autoglyphs is an on-chain generative art project, generated through an algorithm. Larva Labs describes them as “an experiment in generative art, each one unique and created by code”. This is typical for generative art, which is a process where a computer program generates unique artworks using a different combination of traits.

Based on the Ethereum blockchain, these were originally created by anyone after paying 0.2 ETH (around $35 back then) as the creation fee. Moreover, the team donated all the creation fees to 350.org. “An international movement of ordinary people”, 350.org fights climate change and advocates for the use of renewable energy.

However, the generator shut itself off after creating merely 512 glyphs. This is why Autoglyphs are so rare today. To be sure, their floor price today is a whopping 177 ETH or about $544,000. They are also the first ever on-chain generative art project.

Different Autoglyphs NFTs with beautiful patterns
The simplistic artworks are a thing of beauty! Credit: Larva Labs

What is on-chain generative art?

NFT projects like CryptoPunks or Bored Ape Yacht Club are all generative art NFT projects. This category includes most PFP NFT projects. Contrary to popular belief, artwork is not stored on blockchain. Instead, they are stored in a database off-chain, that is, off of the blockchain. Alarmingly, this is because images can be lost or stolen at any time.

This is where the Autoglyphs NFTs stand apart.

“With the CryptoPunks, all of the ownership and the provenance is permanently and publicly available, and those rules are set and fixed,” Watkinson told Artnome. “And yet there’s still a bit of an imperfection there in that the art comes from outside of the blockchain and stays out there, and it’s just referenced by a smart contract.”

“We don’t have any complaints about the CryptoPunks, but it felt like there was an opportunity to go further,” he further said. “With Autoglyphs, we asked ourselves, “Can we make the entire thing completely self-contained and completely open and operating on the blockchain?””

Autoglyphs #486
Autoglyphs #486

And that’s exactly what the duo did with Autoglyphs. The contract stores the art. Larva Labs explained that the art is stored within the contract. They experimented with different generators. They eventually found the right “small amount” of code that could run efficiently and produce an “fairly small but efficient output.”

As a result, the final artworks are simple, yet extremely beautiful. , /, The artworks are a tribute to Ken Knowlton

and Michael Noll .

How are Autoglyphs created?

The Autuglyphs use a “highly optimized” generative algorithm that can create billions of unique artworks. Each of these artworks is wrapped inside an ERC-721 interface. ERC-721, as we know, is the standard for NFTs.

The whole process of generating artworks follows a self-contained mechanism. The developers have no control over the code that generates artworks or the one that controls ownership of tokens once the project has been deployed to Ethereum.

“It allows a long-term guarantee of ownership, provenance and edition size that is independent of any central authority,” Larva Labs wrote. The ownership of the code and the source code were made public later. Many Autoglyph derivative projects, such as PaintGlyphs or ColorGlyphs, have been born.

A generative artwork featuring patterns
Autoglyphs #463 is the highest-selling NFT from the project. Credit: OpenSea

These NFTs are now selling for millions!

Since the generator has shut itself off, there will only ever be 512 Autoglyph NFTs in existence. Today, 152 collectors own these invaluable NFTs. These NFTs are valuable and collectors won’t part with them. For this reason, there have only been three Autoglyph sales in the last 30 days.

Besides, most of these NFTs have sold for millions of dollars. According to DappRadar, Autoglyphs #463 takes the top spot as the highest-ever sold NFT in the collection. It was sold for $1. 58 million. Autoglyphs #486 and Autoglyphs #403 take the second and third spot after selling for $1. 56 million and $1. 51 million, respectively.

With a $1. 48 million sale, Autoglyphs #380 is the fourth highest-selling NFT. Finally, Autoglyphs #17 takes the fifth spot after fetching $1. 44 million. Six other Autoglyph NFTs sold for over $1.1 million.

If you want to buy one of these NFTs, it will cost you at least 177 ETH on OpenSea. Some have even been listed for as high as 1999 ETH (about $6 million). Autoglyphs will continue to be a valuable collection like CryptoPunks and Rare Pepe. These few lucky people were among the first to grab them in the early days.


Are you tired of missing important NFT drops?

Just check out our NFT Calendar!

Receive the biggest NFT news of the day & recommendations in our Daily newsletter.


All investment/financial opinions expressed by NFTevening.com are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investment.

Read More

Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Most Popular