Collect
How do I collect a work?
At the present moment, the artist asks that bids increase for each NFT by 0.21 ETH. Placing a bid for the correct amount becomes eligible for bid acceptance. This prevents primary speculation and acts as a test to determine the level of someone’s engagement & interest with the project. I.e. Are you reading this right now? This mirrors Bitcoin in that the early level to entry necessitated doing your own research and gaining knowledge.
The Project
When did this project begin?
Announcement of the project and outline of guiding principles were released September 18, 2020 – the night that Right Place & Right Time sold, the first NFT to sell to a single collector for over $100K.
The launch of the VLY smart contract was January 3, 2021.
Where is the smart contract?
What are the rules that govern this project?
VLY tokens are capped at 210.
Easter eggs will not exceed 21.
Owner of Right Place & Right Time NFT receives 21%.
Gifted NFTs will not exceed 21.
This is a work-in-progress. Everything else is subject to artist intent.
What surprises are coming?
Plenty is planned.
Plenty will be improvised.
Why spoil a nice surprise?
Why is pricing of NFTs the way it is?
Everything can become an artistic medium of expression.
Are there any guiding principles to help understand this artwork?
This project attempts to mirror Bitcoin and occasionally pay homage to #cryptoart. It’s a work-in-progress that sets out to scale with technology, culture, and the artist himself.
Are these a limited edition? What is a generative edition?
Each NFT from this project is a unique 1/1, curated by the artist. A generative edition describes an edition of unique artworks generated by a mother or master generative artwork.
What is the VLY Club?
The VLY Club uses the daily volatility NFT’s from this project as access to belong to a community of collectors. Certain rights and privileges will be provided over the course of the project.
Why 10+ Years?
A. I announced this project at a time that I wished to communicate my belief and commitment to NFTs as the dominant record of provenance for the future. At the time, it felt as though many were thinking too short term.
B. I follow the way of thinking described by Plan B, which outlines a 1 million dollar Bitcoin becoming possible within the lifespan of this project. Having this artwork record the history of this climb toward becoming a global reserve currency is important – whether Bitcoin is successful in this endeavor or not.
Will there be breaks in the minting schedule?
Because I am involving myself as curator and also participant in this “work-in-progress,” I will allow myself breaks, vacations, etc. In deciding the outline of this project, I felt the most important thing I offer is my humanity.
What is the Right Place & Right Time artwork that started this project?
This is a programmable, generative artwork created by the artist. It is tokenized on the blockchain through Async Art. It contains the coding and assets which make up the beginning of this project. In addition to the token that the collector possesses, the artist holds a token called “The Artist Intent Token,” in which the artist declared this a work-in-progress. Together, these two NFT’s create the whole of this project as an artwork in itself, generating artworks for collectors to join in collecting.
Print Companion
What is a Print Companion?
Each NFT has a 1/1 print companion but only if the print was purchased within the first 23 days since minting. The unification of print and NFT will unlock extras in the future.
What is Right of First Refusal?
The NFT holder has the exclusive right to purchase their NFT’s companion print within 21 hours of the first sale.
What happens if the NFT collector doesn’t buy the print?
After the first 21 hours after sale, other VLY NFT collectors from this project have the exclusive right to purchase the unique print. After this period of time, the public has 21 days to collect the print.
TECH
What is Scribe and how is it being used in Volatility?
Scribe is a tool created by Conlan, co-founder of Async Art. He created Scribe in order for NFT owners to be able to attach notes or messages to NFTs after they’d been minted.
Kane has been known to use Scribe to annotate NFTs he’s created as art and also which he’s collected from other artists. He does this in order to bring greater meaning and context to the NFT. In the Volatility project, Kane sometimes scribes the name of a news organization, date, and headline to an NFT. This practice mirrors Satoshi Nakamoto, creator of Bitcoin, who encrypted the message “The Times Jan/03/2009 Chancellor on brink of second bailout for banks” on the first block mined from Bitcoin.
Why were some of these NFTs given away at the beginning or sold for so little?
Kane wanted this project to mirror both Bitcoin and origins of #cryptoart. In the early days of Bitcoin, you learned about it by having been part of a Cypherpunk newsgroup. Sprouting out from there, many affiliated with the tech sector would be the next to learn about Bitcoin. You had to have been in the right place & right time. MKTA decided on rewarding a small number of people who have taken risks to be early in NFTs or blockchain.
Kane began sales at 0.21 ETH, beginning with the first NFT collector of his who also reached out to him. “The best part of #cryptoart for me has been that some sales have not just been transactional. They’ve been relational. Collectors reach out and we have conversations. Sometimes we hit it off and become great friends. I wanted to reward & encourage this relational aspect of this art movement and make it a part of this artwork.”