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The Perfect NFT

A blockchain art performance by and for you. You're invited to leave your mark.

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TO START

512 untouched NFTs.

01011110101101011101111001011111101011111000111111100111111010111111001111111101111111011111111111111111

Every composition is derived from a number between 0 and 511, represented as a binary value.

Take the number 456, for instance. It translates to the binary value 111001000, which is read from right to left and projected onto the canvas from the bottom left to the top right.

000100111456000100111

and then... ROUND 1

Choose any unpicked NFT you want and purchase it for 8 ADA. After two epochs (10 days), or when all NFTs have been selected, we'll move on to the next round.

8 ADA

ROUND 2

Bids are open again on all NFTs, now with a price of 16 ADA. Here’s the twist:

For every new purchase, the original purchaser gets this amount, less the royalty. That is, 14.4 ADA minus transaction fees.

16 ADA

suddenly, a fingerprint

Something has changed. One of the voids on the NFT is now filled with the fingerprint of the previous owner.

Fingerprints are programmatically generated from the wallet addresses of owners. They are unique for every address.

Example of an NFT with a fingerprint

save the receipt

The original purchaser receives a record of their activity, appropriately called a TEMPORAL BIDDING DECLARATION.

This document holds all the information about the transaction. Both purchases are sealed with fingerprints of the previous and the current owner.

Example of a Temporal Bidding Declaration

ROUND 3

After another two epochs, or all NFTs being selected, round three starts, and the amount has doubled again to 32 ADA.

Just as in round two, all the previous owners received a TEMPORAL BIDDING DECLARATION and the proceeds of the sale. The NFTs now contain the fingerprints of the two previous owners.

32 ADA

010111010111010111ROUND 1ROUND 2ROUND 3

ROUND 4, and beyond

Here’s where we pick up the pace. Instead of waiting for two epochs, it’s now just one epoch (5 days) until moving on to the next round.

The price increase for the next round is directly related to the percentage of NFTs that received a new bid in the previous one.

For example, if 78% of the NFTs went to a new owner in the previous round, the price for the next round will be increased by 78%, with a floor at 25%.

no new bid?

When an NFT doesn’t receive a new bid in a round, it will be minted and sent to the wallet of the current owner.

This process will continue until all NFTs have landed in a wallet.

Example of a Temporal Bidding DeclarationExample of an NFT without fingerprintsExample of an NFT with a fingerprintBadge of the Venster Metadata Standard for on-chain NFTs

100% on-chain

The TEMPORAL BIDDING DECLARATIONs, the NFTs, and the source code to generate everything, including fonts, will live fully on-chain.

The Perfect NFT is the first blockchain art project to implement the Venster Medatada Standard on a large scale.