The ground-breaking open-edition John Karel X OBJKT generative PFP project ‘Randomly Common Skeles’ broke over $1 million in primary sales with over 37,000 minted skeles.
The ground-breaking open-edition John Karel X OBJKT generative PFP project ‘Randomly Common Skeles‘ broke over $1 million in primary sales with over 37,000 minted ‘Skeles’.
Tezos gas fees for minting over a 24-hour period remained in the cents, despite the high demand.
The artist behind Skeles is John Karel and he is famous for his ‘Windows‘ series on Hic Et Nunc, some of the editions of these Windows have been sold for 1000’s of tez.
Each of the 37,000+ Skeles sold for 5 tez each and users were able to mint on the website, however, the 24-hour window that was open for minting is now shut and now they are only available to buy on the secondary market here.
Although all trait possibilities were originally equally as rare and even after minting traits were not too vastly different, some Skeles were minted with multiple of the same emoji.
Some of the rare Skeles with multiple same traits have been selling for over 1000 XTZ on the secondary market.
This double-double same trait emoji Skele sold for 1,111 XTZ, which is over a 222X return on the original investment. No quadruple Skeles were minted, although it was a possibility.
Minting Statistics Breakdown:
Minted: 37,807 Skeles Minted
Single Trait Emoji Skeles Minted: 33,867
Double Trait Emoji Skeles Minted: 3,768
Double-Double Trait Emoji Skeles Minted: 117
Triple Trait Emoji Skeles Minted: 55
Price Per Primary Minted Skele: 5 Tez
The project was unique in the sense that it was a open-edition NFT drop, with on-chain trait generation using true random entropy.
To help ensure a fair distribution for the project Objkt.com partnered with Ubinetic to use Ubinetic Oracles as the trusted entropy source.
The Randomly Common Skeles were not pre-rendered like other collectible projects and trait assignments happened directly on-chain.
Each request to mint a Skele was written onto the Tezos blockchain and then later the Ubinetic Oracle called Objkt.com’s contract with true random entropy.
The Objkt.com contract then used the provided entropy to compute the traits for the Skele being minted and wrote them to the blockchain.
There were quadrillions of possible Randomly Common Skeles that could have been minted.
8 trait categories, 100 traits per category.
1008 = 1016 = 10 000 000 000 000 000 = 10 quadrillion or 10 million billion.
That’s how many different randomly common skeles can theoretically be generated.
This whole strategy and the use of the Tezos blockchain with its low minting fees ensured the PFP project was accessible to all who wanted to take part, with inclusive pricing and minting fees.
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