A guide to Fxhash: Tezos’ premier generative art platform
Over the years, generative art has been a staple of the NFT market. From algorithmically generated batches of PFP to collaborative AI 1/1s, some of blockchain’s most influential artists and projects use generative technologies in their creative processes.
Given the popularity of generative art, it makes sense that community-driven platforms such as ArtBlock, Gen.Art, and BrainDrops maintain their position as space leaders on the Ethereum blockchain. Yet, just as developers and collectors alike continue to seek more economical solutions for creating and trading NFTs, so do administrators.
Even as the NFT market ebbs and flows, the ever-present competition between NFT marketplaces has not abated. New challengers are often entering the ring, and not just on the Ethereum blockchain. One such competitor, fxhash, has caught the attention of the wider NFT community and taken the generative art sector by storm.
What is Fxhash?
With each release, the fxhash community continues to build the world’s leading art repository
Each output inspires current and future generations of artists, pushing the boundaries of possibility further
What will you contribute next? Share your WIP!
— fxhash (@fx_hash_) May 30, 2022
Launching in November 2021, fxhash is a generative art platform and marketplace that lives as an open ecosystem where artists can mint generative NFTs without going through the hoops associated with traditional generative platforms. Created the platform Sifrod is a multi-talented artistwho dictates fxhash’s philosophy as “no curation, open to all”.
Unlike platforms like Art Block or Nifty Gateway, fxhash’s lack of curation may be one of its most distinguishing features. Waiting lists for curated platforms like SuperRare and the aforementioned stretch over months, and it’s notoriously difficult for applicants to secure a spot.
Still, while there are some barriers between an artist joining fxhash and jumping straight into creating their first compilation, the platform seems (at times) Perfect target for scammers and other malicious persons. For this reason, market moderators have implemented various security features to protect collectors. With safeguards such as reporting, moderation, flagging and mint locking systems, FXHash is considered a relatively safe place to trade generative NFTs.
As a result, the platform is seen as a pioneer of community-centric and digitally native ecosystems. This may also be due, in part, to FXHash priding itself on being completely on-chain. It even boasts a name that combines terminology related to how blockchain transactions are made. (i.e. “hash” is a token of blockchain transactions like Etherscan and other related block explorers).
How does fxhash work?
Fxhash offers a variety of easy-to-use features for both collectors and artists. Since minting on the platform can be somewhat complicated, artists are encouraged to use the “sandbox” section of fxhash’s website to understand how a project might behave once placed on the blockchain. General enthusiasts are also invited to explore the platform’s vast collection of both established and upcoming projects through the platform’s easy-to-use dashboard, making fxhash a solid choice for a wide variety of creators and consumers within the generative art ecosystem.
Although the barrier to entry is low, FXHash works a little differently than other NFT platforms/marketplaces. With most marketplace-based projects, developers will write a smart contract or use platform-specific tools to create one. The contract will then be deployed on the blockchain, complete with the supply of NFTs to be created or published during the mint.
This process depends on the type of platform a developer uses, or if they decide to go the independent route and collectors have mints either directly from contracts or through minting sites. Regardless of the method though, minting often works by a user submitting a transaction to the blockchain, which triggers the creation of an NFT.
This is true for fxhash, but the underlying mechanics behind mining on this particular platform is based on generative tokens (GTs). Simply put, GT is a type of token created by an artist using the main fxhash smart contract and provides the basis for all subsequent NFTs that collect mint on the platform.
Each NFT on fxhash is one Repetition An original GT’s – meaning instead of minting a random token from a smart contract, collectors on fxhash are minting an NFT that directly corresponds to an original image/animation of a GT. This is a unique aspect of FXHash, as it allows artists to create a mother token that collectors can create unique iterations of, effectively becoming a collection (usually limited to a few hundred) over time.
Yes, this all sounds a bit dense, but it’s actually a lot easier once you get the hang of it. For an in-depth look at the mechanics and how to get started on the platform, check out fxhash’s guide to generating and collecting tokens here.
Fxhash and the future of the generative art market
Since the NFT boom of early 2021, the generative art market has seen its fair share of ups and downs. Once heralded as a dominant part of the NFT ecosystem, platforms whose sole focus is on promoting generative NFT have had a lasting impact on the NFT community, but have been overshadowed by both PFP and play-to-earn projects.
That’s not to say that generative art is dead, and fxhash’s success suggests quite the opposite. Just as OpenSea competitors will aim to grow the NFT ecosystem and provide an alternative to the tried and true marketplaces of old, platforms like fxhash seem to reinforce the staying power of generative art NFTs.
Some of the most prominent NFT projects in existence are based on the creation principle, including CryptoPunks, Fidenza, Autoglyphs, Chromie Squiggle, and more. Yet, while these top-level collections remain relevant to NFT price and popularity indicators, the saturation of the generative NFT market (which historically Centered on the art block) may contribute to a decline in interest in generative art in the Web3 space.
Although less than a year old, it’s clear that fxhash has the potential to be a permanent facet of the NFT ecosystem. And given its perfect position in the NFT hype cycle as the new and shiny, as well as the thriving and ecologically-sound Tezos blockchain, why shouldn’t it?
While the mostly minor sales figures on fxhash probably won’t make headlines anytime soon, the ease of use, lack of curation, and community-focused management (with a DAO and native tokens on the horizon), will certainly make this platform a force to watch for the foreseeable future.
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