Art Blocks Curated Fidenza #855
Art Blocks Curated Fidenza #855
Inside The Vault
Top 10 Vault Owners
Chromie Squiggles is the premier project of Erick Calderon, also known as Snowfro & the founder of Art Blocks. The project contains 10,000 algorithmically generated squiggly lines with different colors, patterns, slopes, inflection points, and a host of other variables. Perfect spectrum squiggles are amongst the most rare, with only 20 minted. They feature a rainbow palette and an evenly distributed range of colors.
Generative art is a genre that sits at the intersection of mathematics and aesthetics. Typically, generative artists take algorithms and data structures to translate alphanumeric characters into specific design language. For Chromie Squiggles, a hash string from the Ethereum block from which the NFT is minted is the alphanumeric input used.The result is an unpredictable and unforeseeable collection of designs and scarcities that only can be analyzed after the entire minting is completed.
The Squiggle DAO
The Art Blocks community is known to be one of the strongest, most tight-knit groups within all of cryptocurrency. Recently, community members including founder Erick Calderon, banded together to create Squiggle DAO, a grassroots organization designed to curate adjacent projects, offer grants for developers & artists, and fund community events.
In March 2021, Chromie Squiggle #5355 set the record for highest sale at 45 ETH. It features two very rare traits: Hyper Rainbow (0.48%)and Bold (2%). The next two highest sales both belong to Hyper rainbow and Slinky (4%) combinations: #8353 40 ETH and #1177 for 37.4 ETH. As of June 2021, only one Perfect Rainbows (0.08%) is listed on the secondary market, currently priced at 50 ETH.
Cryptocurrencies are inherently risky, and emerging asset classes like NFTs are no exception towards the rule. In fact, as a whole, this asset class may carry even higher volatility than other crypto assets. While the NFT space has seen strong momentum, that may not always be the case; research accordingly and proceed with caution.
Choose a single NFT if you want your collectible to be one of a kind or select multiple if you want to fractionalize a basket of multiple NTFs.
Frequently asked questions
Answers to the top questions asked by the fractional community.
Who is the custodian of a vault?
There are no custodians and vaults are fully decentralized, audited smart contracts.
What are the curator fees?
Curator fees are similar to an asset under management fee. Annually, a curator will earn a percentage of the total ownership token supply. These fees are set by the vault’s curator, but restricted by governance to prevent inordinately high fees.
What is the reserve price?
The price (in ETH) required to initiate an auction for a vault and its NFT(s).
What is a buyout?
A buyout can happen when there is an external party who deposited ETH that is greater than or equal to the reserve price. This will kick off an auction. At auction completion, the NFT will be withdrawn and fractional owners will be able to trade in their tokens for ETH.
How is the reserve price set?
The reserve price is set by the weighted average of all ownership token holder votes. If less than 50% of token holders have voted, a reserve price will not be set. Token holders cannot set a reserve price greater or less than 5x the current weighted average.
What is an auction?
An auction is a public sale of a vault and all its contents, which is triggered when someone deposits and offers an amount of ETH greater than or equal to the vault’s reserve price. The individual offering the highest price at the time the auction completes wins the buyout.
What happens to fractional owners after a successful auction and buyout?
Once completed, fractional owners are able to trade all their ownership tokens in for the ETH that was deposited by the auction winner on a pro rata basis. The ownership tokens that are traded in for the ETH are then burned by governance.
How do I learn the status of a vault?
The status of your vault is indicated by the tags (e.g., ‘Live Auction’) that can be found underneath the vault’s name.
What do the different vault tags mean?
A ‘normal’ tag indicates a vault exists and its ownership tokens have been minted. A ‘live auction’ tag indicates a vault is currently being bid on for its contents. A ‘closed’ tag indicates that a vault has been bought out.
What is the visual representation of the tokens/fractions?
Fractional ownership is represented through ERC20 tokens, there is no accompanying visual representation of the specific ownership tokens.
Does fractional support ERC-1155 tokens?
Currently only ERC-721 tokens are supported for fractionalization. Support for ERC-1155 tokens is planned for a later date.
Fractional plans to progressively decentralize the protocol to ensure long-term resilience & upgradability.