Meet the Visual Artist Using Algorithms to Create Multimillion-Dollar NFTs

In short

  • Tyler Hobbs is a visual artist who uses algorithms to create art.
  • Hobbs’ Fidenza #313, also known as “The Tulip”, sold for $3.3 million.
  • His new release, Incomplete Control, runs from December 9-12 in New York City.

There is no doubt that NFT are hot. The trading volume of the block chain-collectibles exceeded $10.67 billion in the third quarter of 2021, according to DappRadar.

Tyler Hobbs earned its fair share of that total. Hobb’s fidenza collection, spanning 999 unique coins, has traded for over 37,000 ETH ($151.2 million) to date.

For his next exhibition, Incomplete control, Hobbs will hit 100 NFTs for a select group of spectators. And the artist is a big enough draw that the company behind the exhibit is auctioning off tickets, or “gold tokens,” for the event starting at 500 ETH a pop.

A graduate of the University of Texas, Hobbs started working as a computer engineer before devoting himself full-time to art in 2014. But that doesn’t mean he’s given up on computers altogether. Hobbs says that since programming was such a big part of his life, he wanted to think of ways to involve it in his works. For him, this meant producing “generative artwork”, or art created via an algorithm.

“A tip for artists is to try to do the work that only you could have done,” Hobbs said. Decrypt“which in some ways means you have to use every skill you have to create the artwork.”

This idea turned out to be very lucrative. A coin from Hobbs’ Fidenza collection on OpenSea, #313, also known as “The Tulip”, sold on the secondary market for 1,000 ETH, or $3.3 million at the time.

What makes a collector spend so much money on digital art? “In some cases, this price is incomprehensible”, Anthony Georgiades, co-founder and COO of the NFT platform pastel networkRecount Decrypt in an email. “However, beyond that, there is something special about it. The art itself can tell a story or can be something that took a lot of skill and effort and time, but what drives the value, in my opinion, is what it means. . It represents the democratization and decentralization of an antiquated and rather stuffy system.”

Hobbs said he turned to NFTs this year after receiving many suggestions from people familiar with his art style. “I was a bit skeptical at first,” Hobbs said, “but what convinced me was hearing about Art Blocks.”

Art blocks is a programmable digital art platform, where every piece of generative content is stored on the Ethereum blockchain. According to Art Blocks, pieces can come in the form of a static image, a 3D model, or an interactive experience.

Hobbs said he felt Art Blocks was a perfect match for his art style; he understood their vision and how his work could fit well in this space. After hearing about Art Blocks, he started working on Fidenza.

The next step for Hobbs is a partnership with bright moments for Incomplete controla live event where Hobbs will hit 100 digital artworks for attending guests, December 9-12 in New York City.

As Hobbs explained, the Bright Moments event will take place in two stages. First, attendees will purchase a “golden token”, which will serve as a ticket to the December event. The golden tokens will be distributed via a Dutch auction, in which the price of an item decreases until it is purchased. In the case of incomplete control, a bidder may wait for the price to drop, but this also means that the bidder’s strike time is longer.

During the incomplete checkout event, token holders will present their golden token and then can hit an NFT during the experience. The gold token covers the cost of the strike and is limited to one strike per person.

Hobbs explained that he chose to limit keystrokes because focusing on just 100 mints allowed him to dig deeper and make them as unique and well-crafted as possible.

“I love that in-person aspect of art shows,” Hobbs said. “So for me, the opportunity to recreate some of that magic despite operating in this NFT space felt like an incredible opportunity.”

Incomplete Control golden tickets go on sale today on the bright moments mirror site.

https://decrypt.co/84069/meet-visual-artist-using-algorithms-make-multi-million-dollar-nfts

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Briana R. Cross