I collect generative art NFTs, almost exclusively.
And almost every piece I have collected has come from ArtBlocks, either directly through minting, or by way of the secondary market on OpenSea.
How do I value each piece I collect?
First of all, what does the market say? Is the floor at 0.5 ETH or at 500 ETH?
Also, and related to the market price, what is the history of a project, or the story behind it?
The value of the Chromie Squiggle, for example, is determined, at least in part, by its story. It was and will always be Project 0 from ArtBlocks. That makes a difference. That’s a story people will always share. It adds value.
Next up, do I love the art?
The market and story narrative may say a particular piece is super-valuable. But if its doesn’t appeal me aesthetically, I probably won’t buy it.
Every time I’ve “followed the herd” and purchased a piece because everyone said it was hot… I’ve had buyer’s remorse and sold the piece soon after, sometimes at a loss.
I buy the art I love, and that I can afford.
Sometimes a piece or entire project will appeal to me a great deal, but I can’t afford the price. Yep… Fidenzas.
I have also purchased pieces that were selling for a very modest price, even on secondary. I buy them because I like them.
On the other side, in all honesty, I have purchased some pieces that I like, but don’t love. These are pieces I probably wouldn’t buy if I saw them hanging in a physical gallery, separate from the NFT world. What tips the balance for me is their story or their history as generative art.
And what do I think of the artists?
There is huge value here, for me, because I am in absolute awe of generative artists.
To me, any artist is a hero of the human race.
And then… add in the fact that generative artists also code their work. Think of the Venn diagram… artists who can also code, or coders who are also artists.
That’s amazing, extraordinary.
I love these people. They inspire me.
So yes, that adds value.
And then the big one, at least for me… Conversations with the artists.
This brings us to that image of my Tweet at the top of this article.
To me, a HUGE amount of the value of a piece I hold is tied to my conversations with the artist.
I have yet to meet any of these artists in real life. Yes, I regret not going to Marfa.
Usually, these conversations happen on Twitter, Discord or both.
In one instance, I chatted briefly with Joshua Bagley while we stood side by side in a virtual art gallery on the Cryptovoxels platform. The gallery is owned by another artist with work on ArtBlocks, Jorge Ledezma.
And yes, once I’ve interacted with the artist of a piece I’ve collected, I’m screwed. It would be a real struggle for me to part with their work.
And THAT speaks to a core difference when comparing generative art to art in the physical world.
Go to the ArtBlocks Discord and check out the artist channels. Every Curated artist on the platform has their own channel. And the artists spend time there, talking with collectors and fans.
To me, that is the core of it… because there is no equivalent in the real world.
There is no one place you can go to chat with leading contemporary artists. And if there was, would they want to spend time talking with us?
This happens only here, in the NFT space. And it’s incredible.
For those of us who truly love art, being able to talk with the artists we collect and admire is golden.
So… layer upon layer…
There are many reasons I love collecting generative art. All of the above, plus the potential of my collection as an investment.
But above all, what sings to me the loudest is the fact that the artists step out from behind the curtain and interact with collectors and fans.
Generative art… that continues to evolve… to be generative… in conversations over time.