This article does not have any basis on paid advertisement, affiliation, or sponsorship by any of the organizations or people mentioned below. This article expresses my opinion based on my personal experience and views.
The NFTart ecosystem is growing day by day. To this end, we have seen several different types of NFTart, some of which were created by famous artists. This has pictured the NFTart landscape as inaccessible to mere mortal non-artists. However, AvantGarde has a unique idea, that is to give the possibility to everyone to become an NFT artist with the help of AI.
AvantGarde uses deep learning
A deep learning algorithm that takes as input the user’s wallet address generates unique abstract images automatically. As AvantGarde states, “no two images are similar” and this happens because each image is created based on the user’s unique Ethereum address.
After the image is generated by the AvantGarde algorithm, it needs to be minted on the (Ethereum) blockchain to establish ownership. Since the user is the owner of the unique Ethereum address used in the process of image creation, only the owner of this address can mint the NFT on the blockchain. After minting, owners are free to use their NFTart as they wish, keep it, sell it, go back to AvantGarde and sell it there or even burn it.
The AvantGarde ecosystem
As we already mentioned, images created by AvantGarde’s AI need to be minted to become NFTs. The minting price is defined by a bonding curve (a mathematical function). The bonding curve takes into account the number of circulating tokens at a given moment. If the number of tokens (within the AvantGarde ecosystem) rises, the price rises, if tokens get burned the price drops.
The interesting part is that there is an opportunity for users to return back to AvantGarde anytime and sell their tokens. As AvantGarde claims, there are always funds available to buy back those NFTs. According to AvantGarde, NFT owners can make a profit if the bonding curve indicates the price has risen.
AvantGarde started as a machine learning experiment in 2017 from an idea that flourished and resulted in the creation of a company. The multidisciplinary team consists of artists, painters, 2D/3D designers, music producers, blockchain developers and front-end developers. To read more about AvantGarde and potentially (why not) become an NFTartist you can visit their official website at https://beta.avant-garde.gallery/. The project is currently at beta stage, the official launching date is the 15th of July 2021.