Eponym by Art AI Is a One-Of-A-Kind Project on the Ethereum Chain.
And by one of a kind, I mean one of a kind.
Each NFT is created by the owner, where they type any word or short text upon minting, and a text-to-image AI generator creates a one-of-a-kind NFT based on this input. Any word or phrase becomes 1/1 abstract art in under a minute. An NFT is created as the visual representation of this word. This is a collaboration between Minter and AI, putting the process in the hands of the person buying it.
With Generation 2 dropping soon, let’s take a look at one of the coolest collections on OpenSea.
Generation 1 by the numbers
Gen 1 minted on October 10th for 0.08ETH. This collection minted out within the next day and took off from there. With thousands of customized, AI-generated art flooding OpenSea, buyers were able to find the perfect piece to resonate with them.
— NFT Whale Alert (@nftwhalealert) October 25, 2021
Currently, at a floor price of 0.58 ETH, and a total volume of 4k ETH over the lifetime of the project, this is a very popular collection that the community sees value in.
Eponym Gen 2 mints on November 6th for Ξ0.05.
But that’s not the only cost.
This is a steep mint. Additionally, minters will need to burn 2 Gen 1 Eponyms in order to mint a Gen 2. With a current floor of Ξ0.58, it costs a total of Ξ1.21 + gas to mint a Gen 2 Eponym if you do not own a Gen 1.
Your Gen 1 Eponyms will still be accessible, but they will be sent to a non-transferrable address strictly for viewing. Gen 1 properties won’t be usable in Gen 2 unless it is a burned name.
The biggest difference between Gen 1 and 2 is the ability to add instructions. In Gen 2, minters will be able to give the AI a set of instructions that could include:
- Colour Schemes
- And more
These instructions will not appear anywhere other than in the art represented by the NFT. This means it will not appear in the title or on the token. It means you can customize and refine your NFT.
Even More Reason to Consider
The Eponym team creates even more reasons to get in on the second generation of this collection. On November 13th, Gen 2 holders will have a week to modify their Eponym into an EpoStory. This creates a new layer on the token and modifies the look on OpenSea. Called an EpoEvent, expect these to happen monthly and add to the history of each Eponym.
there will be a modification event each month 🥂
— Eponym (@EponymNFT) October 26, 2021
Each layer will be accessible, and the holder will have commercial rights to every layer they own. In order to modify a layer, you will need to hold a “pen”, coming soon in limited supply or an additional Gen 1 Eponym.
Before writing this article, I was aware of Eponyms. It is a project we talk about behind the scenes at Altcoinbuzz and a project a few of us are fans of. I was not fully aware of all that was planned with Generation 2.
After the research I’ve done, I think Eponyms has serious blue-chip collection potential, Fidenza or Art Blocks territory. This is a constantly evolving project backed by some incredible tech not really seen in the space before. Additionally, with the cost to mint so high, expect the supply of Gen 2 Eponyms to be very low. This will only drive up the price long term. And with monthly EpoEvents planned, expect this project to constantly be in the news.
Absolutely floored by the concept, execution, & art found in @EponymNFT. The combination of human creativity and AI generated art based on input text is pure genius. I honestly believe this will be the next #Fidenza. Share your favorites below mine. Can’t wait to mint Gen2! #NFT pic.twitter.com/Xeq96AaylF
— Bitcoinpirate.eth (@BTCp1rate) October 24, 2021
If you have the liquidity, research this project soon. I anticipate the floor price for Generation 1 Eponyms to rise considerably over the next week as we get closer to Gen 2 mint.
Remember to always do your own research, make your own decisions and invest in projects that interest you!
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