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Ground-Breaking Open-Edition John Karel Generative PFP Project ‘Randomly Common Skeles’ Breaks $1 Million In Primary Sales

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.

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Randomly Common 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

A Unique Ground-Breaking Project

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. 

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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