Generative, Dynamic, Collectively-Experienced Artworks. These NFTs are bought and sold on a bonding curve, and change for all owners to reflect the transactions of others on the curve. While you have no control over how your own piece looks, you can change artworks owned by others - but only by burning your own.
The contract sells new editions at a fixed price formula. As more tokens are being sold, the price goes up.
The contract also allows anyone to sell their editions back to the contract at whatever the current price is (minus a 5% fee going to the artist), thereby burning it. As the circulating supply decreases, the price goes down.
Whenever an edition is burned, the artwork changes for all remaining owners.
Each piece has a maximum of 9 editions, that is, ownable tokens associated with it. A new piece is created when the maximum editions of a piece have been minted, or after an elastic time limit has elapsed.
As collectors sell their back to the curve, each piece embarks on a life of their own, changing in the process.
Additionally, various rarity attributes exist.
This is intended to be the first art work in a series exploring this and similar mechanisms.
The attributes for each piece are stored on-chain. The code to generate the art work is currently *not* yet stored on-chain, but that will happen - there is a slot for it in the contract. It will thus always be possible to generate each piece. Beyond that, the metadata standard of ERC721 is used with an off-chain renderer run by us as a convenience so that OpenSea and other platforms have an easy way to display the pieces.