ArtBlocks Founder Defies NFT Dilution Claims With Revolutionary Solution

Erick Calderon, the designer of the well-known NFT line Chromie Squiggles, envisions a time when consumers may customize things and NFTs are valuable without being scarce.

“We as humans have a tendency to lean towards individuality,” he said speaking at the NFT Paris conference on Friday. Despite this, he posed the question: What will it take for NFTs to be valuable without the promise of scarcity?

By U.S. dollar value, NFT trading volumes last year fell more than 90% as a result of the crypto winter. The decline affected even high-profile collections like Bored Ape Yacht Club and Azuki. However, while customers are snatching up less expensive NFTs promoted as “digital treasures” and sold by established businesses like Reddit or the Hollywood studio Warner Bros. Discovery, the number of transactions has constantly increased.

Calderon wants to move away from “fomo-based” mechanics in the market where businesses may offer personalized items to customers.

For instance, he suggested that tourist destinations like the Eiffel Tower could utilize blockchain technology to take a picture of a particular glittering light sequence and sell it as an NFT souvenir, with the proceeds going back to the building’s upkeep and the artist.

In order to create ground-breaking art and unforgettable experiences, ArtBlocks brings together artists, collectors, and blockchain technology. It is “committed to bringing captivating works of modern generative art to life.” It has established itself as a venue for the production and sale of original works.

Chromie Squiggles was created by Calderon in 2020. According to NFT Price Floor, the collection’s current price floor is 12.5 ETH, or roughly $20,000.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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