Chromie Squiggle: A revolutionary generative NFT project from Snowfro

25.01.2023
Chromie Squiggle: A revolutionary generative NFT project from Snowfro

The NFT world is full of unique collections that are highly valued among NFT collectors and ordinary users. A special category includes projects that appeared at the stage of the birth of the industry. Such projects set trends, set the pace for the market, make celebrities and influencers out of their creators. One such collection is Chromie Squiggle by Eric Calderon Snowfro, who is the founder of ArtBlocks.

The Chromie Squiggle collection is one of the best known in the curated blocks at the generative art site Art Blocks and is the only author’s collection hosted on the site. In addition, the collection has rightfully become the face of Art Blocks, generating over 60,000 ETH in secondary sales (over $100 million today).

 

Chromie Squiggle Official Links

 

What is Chromie Squiggle?

Chromie Squiggle is the NFT collection created on November 27, 2020, built on the Ethereum blockchain, and has the ERC-721 standard. There are 10,000 NFTs in the entire collection, of which 9,734 NFTs are in circulation on the secondary market, the rest are not minted and are at the disposal of the author of the project.

Each token in the collection is unique and is generated using initial input as a hash string. The script uses this initial value to control many different variables such as the initial color, the rate at which the gradient changes, the number of points in the squiggly line, and more. The result is a collection of squiggles that are not only visually striking, but also unique and verifiably deterministic.

The collection was originally intended as a demonstration of the concept of approach to generative art, but the success of the collection was much more serious than Eric Calderon himself imagined. Depicting a kaleidoscopic snake that exists in digital form, Chromie Squiggle is a psychedelic squirming motif whose variations are completely unique and original.

Chromie Squiggle nft
The project is based on a complex generative algorithm that sets various image parameters

The project became revolutionary in the NFT market, quickly gaining popularity and recognition. This is confirmed by the sale of 10 NFTs at Sotheby’s in December 2021 for $478,000.

 

Chromie Squiggle in numbers

  • A collection of 1000 tokens was created on November 27, 2020 on the most famous generative art platform Art Blocks, thus becoming the first project on the site. It is noteworthy that the author of the collection and at the same time the owner of the site, Eric Calderon, thus simply wanted to demonstrate the possibilities of algorithmic art.
  • ArtBlocks logo was Chromie Squiggle #7515, which was previously sold for 922.5 ETH (about $2.6 million at the time of sale),
  • The project is ranked 24th among the best NFT collections in terms of sales of all time on the largest NFT marketplace OpenSea.
  • The total volume of secondary sales exceeded the mark of 60k (more than 100 million dollars at the current exchange rate),
  • Floor price is 14.6 ETH (about $23k),
  • Sales on average range from 14 ETH to 20 ETH,
  • The most expensive Chromie Squiggle #4697 was sold on September 26, 2021 for 945 ETH (about $2.9 million),
  • A total of 2,808 unique holders (29%), which means that each holder owns approximately three tokens from the collection. Given the high barrier to entry, this picture is a clear example of the community’s confidence in the project.
  • Only about 2% of the collection (182 pieces out of 9734) are for sale, among them the range of offers is from 14.6 ETH to 700 ETH. This shows that almost all holders see the project as a great investment prospect and are not in a hurry to part with their assets at a lower price.

Data (including exchange rates) are given at the time of publication of the article

 

Who created Chromie Squiggle?

Created a collection of Eric Calderon, who until 2020 was engaged in the production of ceramic tiles. In parallel, Eric Calderon comprehended the crypto market and since 2017 has been one of the first CryptoPunks collectors. At the same time, he began to look closely at generative art, and to launch a profile project, he sold historical NFTs for $200 each. Eric used the proceeds to create Art Blocks, a platform offering generative content on demand. On the same site, the first collection was Chromie Squiggle. This is how the artist became one of the most successful generative art artists on the market.

Snowfro Eric Calderon NFT artist Chromie Squiggle
Eric Calderon is a pioneer of the NFT community and his contribution to this area is invaluable thanks to the development of generative art

 

Chromie Squiggle Idea

The main idea of Chromie Squiggle was to demonstrate the potential of generative art. The NFTs of this collection can also be resized without quality loss. And the system by which the images are generated was designed to produce as many unique results as possible.

Each NFT in the collection is minted with an element of randomness. Each user himself mints NFT. At the same time, no one knows what color, shape the “squiggle” will be depicted.

Snowfro Chromie Squiggle NFT
The Chromie Squiggles collection is the first project on Art Blocks and thus has become a symbol of a massive platform

Calderon himself claims that every Chromie Squiggle NFT is part of his signature. And the collection itself, in his opinion, should have made progress in generative art.

 

Why is Chromie Squiggle popular?

To date, there are several reasons for such high popularity, recognition in the market and the success of the Chromie Squiggle project:

  • Chromie Squiggles was the project behind ArtBlocks. Thus, ArtBlocks got a logo when minting the zero token of the collection. In part, the popularity of the collection was influenced by the platform, which quickly became popular among collectors and artists.
  • NFTs from the collection provide access to the SquiggleDAO, which coordinates actions using the $SQUIG token. So, those who joined the closed Discord channel before 04/11/2021 received a 1000 $SQUIG airdrop. Such an organization of the ecosystem primarily affects the promotion, because for participation in it, users can participate in the airdrop, vote for the development of the project, and much more.
  • The collection is part of a story about the movement of generative art on the web. And it will continue to thrive, and the cost of participating in the DAO will only rise. More and more people will want to be a part of history in such a large project, gaining a special status in the crypto community.
  • The uniqueness of each squiggle. The technical parameters built into the smart contract create truly exclusive works of generative art known throughout the world.
  • The simplicity of Squiggles makes it easy to identify and evaluate them. Some squiggles are rarer than others. And this creates a sense of exclusivity for the owners of these rare tokens.

 

Chromie Squiggle Roadmap

The collection was created as the “face” of ArtBlocks and at the same time is a solo project of the creator. Therefore, global development according to the roadmap and continuation in the form of subsidiary projects is not expected.

Thus, a closed club of connoisseurs of generative art was created, who own truly unique works of art.

 

Chromie Squiggle Ecosystem Projects

The collection has a small ecosystem, which is primarily aimed at expanding information about the project. And one of the goals is to popularize generative art.

The collection has a DAO called SquiggleDAO. Coordination of actions in the system occurs using the $SQUIG token.

Chromie Squiggle nft SquiggleDAO
$SQUIG Token Distribution

To join SquiggleDAO, you need to be an NFT holder or 1000 $SQUIG tokens.

The DAO has two long-term goals:

  1. Promoting NFT Chromie Squiggles and showcasing it in culture;
  2. Mint or buy as many NFTs as possible for the DAO Treasury.

 

How much does Chromie Squiggle cost?

In November 2020, minting Chromie Squiggle tokens on the site cost 0.035 ETH (about $19 at the time). Then all the works were sold almost instantly. And from that moment on, the value of these works only grew.

To visualize the price dynamics, we made a cut at the average price for 1 NFT:

  • in March 2021 – 1.1 ETH,
  • in September 2021 – 21 ETH,
  • in January 2022 – 8 UTN,
  • in June 2022 – 11 UTN,
  • in September 2022 – 14 ETH.
  • in December 2022 – 15 ETH.

Now (January 2023) the minimum price is 14.6 ETH. On average, the latest sales are in the range of 14-20 ETH. And the total volume of secondary sales amounted to more than 60k ETH (about $100 million).

 

Most Expensive Sales of Chromie Squiggle

The most expensive sales are led by the following NFTs from the Chromie Squiggle collection:

  1. Chromie Squiggle #4697 sold on September 26, 2021 for 945 ETH ($2.9 million at the time of sale). And it is owned, by the way, by the famous NFT collector 6529.
  2. Chromie Squiggle #7583 sold on September 21, 2021 for 922.5 ETH ($2.6 million at the time of sale).
  3. Chromie Squiggle #3784 sold on August 15, 2021 for 750 ETH ($2.5 million at the time of sale).
  4. Chromie Squiggle #6339 sold on September 19, 2021 for 485 ETH ($1.7 million at the time of sale). And she is also owned by NFT influencer 6529.
Most Expensive NFT Chromie Squiggle Sales
Most Expensive Sales of Chromie Squiggle NFTs

 

Where to buy Chromie Squiggle?

Chromie Squiggle is currently only available on the OpenSea aftermarket.

 

How to buy Chromie Squiggle?

  1. Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
  2. Next, find the official collection using the search bar on the marketplace,
  3. Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
  4. Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.

 

Should you invest in Chromie Squiggle?

The growth potential in the NFT market, combined with the unique and historically significant nature of Squiggles Chromie, makes this project worthy of investment consideration.

The collection has a huge interest, which is confirmed by trading volumes on OpenSea of more than 60,000 ETH. But it is worth considering a rather high entry threshold to this collection – the minimum price for NFTs from the collection is 15.65 ETH. At the same time, Eric keeps some of the NFT, which may affect the sales of works from the collection.

Also, one of the reasons to invest in Chromie Squiggle is the DAO, where token holders can receive bonuses, airdrops and manage communities. Thus, you can become a full member of the community with exclusive rights and opportunities in the crypto community.

In addition, the rarity of some Squiggles and the growing demand for them could potentially increase their value.

In any case, do your own in-depth analysis and research when investing in NFTs, and then make your own decisions.

 

Opinion of NFTMetria

Chromie Squiggles is a pioneering project that pushes the boundaries of what is possible in the art world. Using blockchain technology and smart contracts, the collection creates a new art form that is not only unique, but also verifiably deterministic.

The Chromie Squiggle collection has become the face of ArtBlocks, the largest generative art platform. The sales volumes in the secondary markets are quite impressive and only prove that generative art has its place in the NFT industry. The Chromie Squiggle collection is one of the most popular in this direction. And the privileges of the DAO contribute to its development and popularization of the collection in the real world in the form of art on physical media.