If you actively follow the art and not only classical art, you probably know about the trend of recent years, that is, artificial intelligence. Together with customizable algorithms it’s wildely used by artists from different parts of the world. With its help, they create unique modern art.
One of those who actively promotes and supports interaction with AI is Tyler Hobbs. He has been working on the algorithm for his paintings since 2016 and is still improving it. At the moment, the Fidenza project is one of the most profitable and famous in the field of digital art. Fidenza #313 was sold on August 23, 2021 for 1,000 ETH (about $3.3 million at that time). In total, secondary sales exceeded 55k ETH (more than $88 million at the current exchange rate).
FIDENZA Official links
- Official website https://tylerxhobbs.com/fidenza
- Twitter @tylerxhobbs – over 78k readers,
- Instagram @tylerxhobbs – over 30k subscribers,
What is FIDENZA?
FIDENZA is an NFT collection of 999 tokens by Tyler Hobbs. It was inspired by the work of the German impressionist Franz Klin, and takes its name from the city of the same name in Italy.
The NFT collection is included in the curatorial section of the Art Blocks generative art platform. The supervised projects are art blocks equivalent to visiting the Louvre or Museum of Modern Art. They extend the boundaries of generative art with their aesthetic beauty, conceptualization, technical quality and innovation. Fidenza is another bright star in this constellation.
FIDENZA is my most universal generative algorithm to date. Although it is not too complicated, the main structures of the algorithm are very flexible, which provides sufficient diversity to obtain constantly amazing results. This is how the artist talks about his famous collection.
The uniqueness of the project is in its generative nature. While most tokens were created as paintings, digitized and compiled into collections, Fidenza was generated using computer code. The artist himself worked in the field of new aesthetics and elaborated his algorithm for a long time. So, Tyler Hobbs decided to combine a machine algorithm with his knowledge of the arts (color science and shaping).
This can be seen throughout the NFT collection, for the algorithm is only engaged in the implementation of the artist’s concept, and he chose the colors and shape himself. At the same time, all the rectangles depicted on 999 tokens of the collection never intersect with each other, even the smallest of them. We can say that the algorithm helped to implement the creative taste and skills of the artist and turn them into 999 unique and stylish paintings that are perfect from the point of view of academic art.
Fidenza in numbers
- The NFT collection was created on June 21, 2021 at Art Blocks, the most famous platform for generative art,
- From the beginning of the auction, all works were sold in just 25 minutes at a cost of 0.17 ETH ($400 at that time),
- The project is ranked 29th among the best NFT collections in terms of sales of all time on the largest NFT marketplace OpenSea,
- Total secondary sales exceeded 55k (over $88 million at current exchange rate),
- Floor price is 87 ETH (about 140k dollars), which is pretty crazy,
- The most expensive Fidenza #313 was sold on August 23, 2021 for 1,000 ETH (about $3.3 million),
- Fidenza #313 ranks 3rd in terms of cost among all NFTs on Art Blocks, second only to works from the Ringers collection by Dmitri Cherniak,
- A total of 463 unique holders (46%), meaning each holder owns approximately one token from the collection. This fact is obvious due to the extreme limitation in quantity and the high cost.
- Only about 5% of the collection (53 NFTs out of 999) are for sale, among them the range of offers is from 87 ETH to 1,100 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 Fidenza?
The Fidenza NFT collection was created by generative artist Tyler Hobbs. Thanks to this project, he became one of the most famous and respected artists of generative art, as well as one of the TOP of the best NFT artists of all time.
The NFT collection was presented on June 21, 2021 at Art Blocks, the largest generative art platform, but Tyler Hobbs started working on the project back in 2016. It took so long to elaborate the algorithms and the program. After all, generative art is a laborious, painstaking and slow process. However, the result of five years of work exceeded all possible expectations.
Hobbs confidently declares that it is his algorithm that is the most perfect to date. This is important, because it was a great impulse for the development of AI and generative art.
How was the Fidenza collection created?
The Fidenza NFT collection was created and minted at the Art Blocks platform, which is the best of its kind today. However, that service only implements the idea and technical base of the author. The artist developed his own code and used it to generate the images that we can see today.
My works are created exclusively with the help of programming. I do not draw by hand and do not use any kind of Photoshop or post-editing on any of my work. Tyler Hobbs, the creator
Tyler Hobbs called his algorithm Flow Field. It forms the basis of the artist’s paintings. Despite everything, he returns to it again and again, when he needs to create something original.
The algorithm works as follows:
- First, a grid of corners is created. Loosely speaking, the marking of the entire field is created where figures or images will be placed;
- Then, a drawing is made according to the draft (it’s like connecting figures by points);
- The parameters of figures are set. FIDENZA consists of rectangles, and you may as well create circles or abstract images. Everyone can prove themselves. There are no restrictions here;
- The final stage is a color scheme.
There are both basic and additional colors. The artist sets the parameters of the palette, and everything is distributed by the algorithm.
In addition, the algorithm contains the following parameters:
- Figure parameter. There are several varieties that differ in the thickness of the lines, and the rarity of tokens depends on this.
- The total size of the figures on the canvas.
There are paintings with only large or only small figures on them. And there are those where the dimensions mix to achieve the necessary visual effect.
Why is Fidenza so popular and expensive?
The Fidenza collection is so popular for a number of reasons that affect the value of tokens. These factors influenced the current value, they will also affect the potential growth in the price of tokens over time:
- These are the first works of their kind to get popular. At the same time, there is a certain limit and rarity of tokens, which will make them in demand in the future;
- This unique generative project brought the generative art back to popularity;
- Solana tried to copy the artist’s algorithm by creating a similar project SolBlocks Series I (Fidenza). This fact confirms that the original idea is extremely popular.
- Leslie Alexander, bond trader and former owner of Houston Rockets, became interested in Fidenza NFTs and purchased tokens for a total of 280.50 ETH. Involvement of well-known people in the project always increases the public’s attention.
- The NFT collection was launched at the right time when NFTs were at the height of their popularity.
Fidenza doesn’t have a roadmap as it is an artist’s solo project. That’s a complete collection of 999 tokens that are actively traded and gathered by wealthy collectors. This limitation in quantity and lack of derivative projects are things that make this collection exclusive. Owing these NFTs increases social status, shows the owner’s taste and understanding of trends. They’re precious pieces in an investor’s collection.
Given this, Fidenza is a good option for long-term investments. The main value of the artist and his project is the generative algorithm that he created for the release of the NFT collection. So, it is necessary to follow the artist, as well as his activities, plans and projects.
How much does Fidenza cost?
In June 2021, minting Fidenza tokens on the platform cost 0.17 ETH ($400 at that time). Back then, all the works were sold in 25 minutes. And from that moment on, the value of these works constantly grew.
To visualize the price dynamics, we made a slice of the average price for 1 NFT:
- in September 2021 – 210 ETH,
- in January 2022 – 71 ETH,
- in March 2022 – 82 ETH,
- in June 2022 – 93 ETH,
- in September 2022 – 95 ETH.
- in December 2022 – 99 ETH.
Now (January 2023) the minimum price is 87 ETH. On average, the latest sales are in the range of 80-300 ETH. And the total volume of secondary sales amounted to more than 55k ETH (about $88 million).
Most Expensive Sales of Fidenza
The most expensive sales are led by the following NFTs from the Fidenza NFT collection:
- #313: sold on August 24, 2021 for 1000 ETH ($3.3 million at the time of sale). By the way, it is owned by the famous NFT collector 6529.
- #77 sold: on September 30, 2021 for 950 ETH ($2.6 million at the time of sale).
- #772: sold on August 25, 2021 for 777 ETH ($2.5 million at the time of sale).
- #723: sold on August 18, 2021 for 650 ETH ($2 million at the time of sale).
Where to buy Fidenza?
Fidenza is currently only available on the OpenSea secondary market.
How to buy Fidenza?
- Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
- Next, find the official collection using the search bar on the marketplace,
- Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
- 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 Fidenza?
Is it worth investing in generative art? Yes, it is.
Should you invest in Fidenza? Yes, you should.
- This is one of the first generative NFT collections to achieve such a resounding success.
- Generative art is a promising industry that is gaining unprecedented popularity.
- Regular development of generation algorithms is an important aspect for increasing the value of tokens.
- Lack of volatility within the project. Even though most NFT projects have lost their original value, Fidenza digital paintings retain their cost. The minimum price for a token is 87 ETH. In the future, the cost of these NFTs will constantly increase.
- This is an accomplished project that has entered the history of the digital industry as a landmark collection of generative art.
Opinion of NFTMetria
Is it right to talk about the prospects of digital art in a world where it is more relevant than ever? We think it would be redundant. Algorithms are improving every day, and new faces and names appear in the industry. But the name of Tyler Hobbs, the author of the Fidenza collection, will forever go down in history as one of the NFT art pioneers. He’s one of those who started reviving generative creativity.
The Fidenza project is not just an expensive and promising product of the artist. It carries the history of generative art. It’s the first and most important project of that kind in the NFT industry. The fact that the author himself worked on algorithms, perfected them and achieved such success will be admired and respected by community members and collectors.
Given the current trends in the NFT field (specifically, the popularization of generative works and the involvement of AI), digital creativity will rise in price and develop, and the first collections released just at the dawn of the NFT era will cost a lot of money in the future. Therefore, investing in Fidenza is a win-win option.