Generative Art Blocks slowly obtaining and justifying blue-chip status
The Chromie Squiggles generative NFT art collection has reached the highest floor price in its two years of existence, as the cheapest one now costs 16.96 ETH. Over the past week, the floor price has increased by more than 25%.
- The cheapest Chromie Squiggle NFT now costs 16.96 ETH, never was the floor price in ETH this high.
- In June 2022, one Squiggle would cost 6 ETH, or less than $7,000 at that time.
- The top 10 collectors own 37% of the total supply. Among the collectors is SquiggleDAO, which has now collected 300 Squiggles.
At the moment of writing, there are 9,685 Chromie Squiggles on the market, which includes the 10 newly minted ones that have been added to the SquiggleDAO. Out of the entire collection, only 192 are currently listed for sale on the OpenSea marketplace.
As reported by SquiggleDAO, it only cost 6 ETH to acquire a Chromie Squiggle NFT back in June. Since that time the collection has appreciated in value tremendously.
At the current floor price of 16.96 ETH, collectors must pay at least $27,000 to get a hold of one of the Squiggles. Back in June 2022, it would cost between $6,000 and $7,000 to buy a Squiggle at the floor price. The price appreciation both in ETH and USD shows that Chromie Squiggles have become very wanted.
Curious about the cheapest Squiggle? This is it.
What are Chromie Squiggles
Chromie Squiggles are the first generative art collection on the Art Blocks platform and part of the Art Blocks Curated collection. Since 2020, Art Blocks has become the leading platform for generative art, hosting various types of collections.
Created by Erick “Snowfro” Calderon, Chromie Squiggles have become the symbol of the Art Blocks platform. The collection launched on November 27, 2022 and minting has now halted. Calderon will distribute the remaining 315 Squiggles to collectors, community members, and other enthusiasts over a longer period of time.
The project initially launched with a 0.035 ETH mint price, but has now appreciated in value as one of the leading generative art collections.
Chromie Squiggles generally come in 6 different types, and each has a different floor price:
- Normal – 16.96 ETH
- Slinky – 17.50 ETH
- Fuzzy – 19.99 ETH
- Ribbed – 18.50 ETH
- Bold – 28.95 ETH
- Pipe – 99.99 ETH
Other attributes also determine the value. For example, a Squiggle with a perfect color spectrum will cost at least 699 ETH in the current market. While the hyper rainbow spectrum will come with a price tag of at least 169.69 ETH.
What is SquiggleDAO?
SquiggleDAO is a Web3 decentralized collective that has come together to acquire and celebrate the Chromie Squiggles NFT project. It’s one of the biggest holders of Chromie Squiggles in the market. Currently, the top 10 collectors hold 37% of the total supply, which includes SquiggleDAO.
DAO stands for decentralized autonomous organization. DAOs give their members more voting power than in traditional corporate entities, and they ensure that no single person has complete control. Many in the Web3 community see them as integral to how the blockchain-based platforms will be governed in the future.
SquiggleDAO’s goal from the beginning was to ‘create a community-governed, publicly accessible treasury of Squiggles.’ The organization has built up a considerable holding of vibrant and popular NFTs. Now they are adding more to the collection.
SquiggleDAO currently owns 300 Chromie Squiggle NFTs with a total value of well over $8 million. Their DAO vault also has $2.88 million in USDC and $867,000 in ETH. That seems like quite some funds to expand their position into the Chromie Squiggle collection.
Interested in keeping an eye on the SquiggleDAO collection?
Make an account on DappRadar. Then go to Portfolio, open Wallet Management, and add the SquiggleDAO wallet to your Watchlist.
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