Want to jump straight to the answer? You need Ethereum to buy NFTs, which you can get today on Gemini.
NFTs exploded onto the crypto scene in 2021, with sales increasing from $ 100 million in 2020 to over $ 22 billion in 2021. As our world becomes increasingly digitalized, the continued expansion of the crypto industry. NFT seems inevitable.
Art Blocks is an NFT platform that generates original works of art. Find out how to buy NFT Art Blocks today.
What is Art Blocks?
Art Blocks is an NFT platform that generates original artwork on the Ethereum blockchain via algorithms. Generative artists upload their algorithms, and buyers choose an algorithm they like based on a sample gallery.
The buyer then presses “mint” without knowing what their NFT will look like. When the NFT is created, the blockchain records which algorithm was used and exactly how it went to create the one-of-a-kind work of art.
Brief History of NFT Art Blocks
Erick Calderon founded Art Blocks at the end of 2020 in order to focus on his passion for generative arts. Despite his great passion for art, Calderon discovered that he lacked the talent to create art with his own hands. Being an entrepreneur at heart led him to open his own ceramic tile business. This contact with design in the tile industry satisfied his artistic side for a while, but he wanted more.
In 2017, Calderon started surfing Reddit to learn more about cryptocurrencies. What excited him even more was the talk about non-fungible tokens (NFTs), which he said could be a great way to create value for generative art.
Then one night, while reading articles on Reddit, Calderon came across a discussion thread from the founders of Larva Labs. They were encouraging people to check out their new CryptoPunks project. Back then, they were also offering CryptoPunks – all you had to do was pay the transaction fees.
Needless to say, Calderon took their offer and claimed a few. For Calderon, this first experience of owning NFT was revolutionary. After seeing NFTs struggle over the next few years to try to mainstream, Calderon began to formulate his vision for a better platform where artists could create their own NFTs using an algorithm. From this vision, Art Blocks was born.
The birth of Art Blocks went anything but smooth – the first prototypes were disappointing and the project languished. It wasn’t until Calderon, a self-taught coder, wrote the code himself and released the first version of Art Blocks in November 2020. In February 2021, Art Blocks was incorporated and had on-time staff. full in April.
Despite the project’s start-up problems, things exploded in August when Art Blocks recorded sales of nearly $ 600 million. The best day in August was marked by $ 69 million in transactions. Things got so crazy that people were buying almost anything they could get, causing the prices to skyrocket. A notable sale saw Crypto Guru Kevin Rose buying an NFT from Tyler Hobb’s Fidenza Collection in June for $ 3,000 and selling it in late August for $ 2.5 million.
Best art block projects
Here is a list of some of the best projects on Art Blocks.
All of these projects were part of the curated collection. In order for a project to be included in the curated collection, artists must upload their script to the Art Blocks testnet.
Once the script is loaded, the testnet will generate sample outputs for the selection committee to consider. The curatorial committee assesses the projects to see if they fit well into the larger curated collection.
Benefits of owning NFT art blocks
With the sales and value of NFTs reaching incredible heights in 2021, the benefits of owning Art Block NFTs have also increased. As NFTs become more widespread, they will increasingly be seen as status symbols. There can also be huge benefits to getting started with newly started projects early.
Speculation on the price has been very profitable for many investors who got started early. Prices have soared from hundreds of dollars per NFT to millions. NFTs are extremely risky as an investment. But for the avid collector, NFT Art Blocks can not only be a great collection, but they could end up paying off big as an investment as well.
How to buy NFT art blocks
If anything you’ve read so far can make you want to jump on the NFT bandwagon. Read on for the steps you will need to take to purchase and store NFTs.
- Open an account online.
The first step you will need to take is to open an account in a crypto exchange that sells Ether (ETH). You will need ETH because NFTs on Art Blocks reside on the Ethereum blockchain. Gemini and Coinbase are two of the most reputable exchanges. Opening an account on either is easy, and both have well-designed and user-friendly trading platforms.
To open an account with Gemini, click on To start at the top right of the Gemini homepage and follow the instructions. Be prepared to upload an ID. This is necessary so that Gemini can verify your identity. Since Gemini is a regulated exchange and defined as a Money Services Business (MSB), it must meet KYC (Know Your Customer) requirements under federal regulations.
Now that you have your account, all you have to do is buy Ether (ETH). Click on Start trading from the home page, then click Ether. You should now see the trade entry box on the right side of the screen.
- Buy or download a crypto wallet.
Now that you’ve purchased Ether, you’ll need a wallet to store your Ether and NFTs. MetaMask is the first wallet you need and will connect to the Art Blocks website or OpenSea.
You’ll also want to invest in a good hardware wallet to securely store your NFTs and cryptocurrencies. The Ledger Hardware Wallet is a great choice.
- Send ETH to Metamask.
If you’ve never transferred cryptocurrency before, it’s a good idea to practice making test transfers first. Test transfers involve moving small amounts of crypto first to test the process. You’ll want to be careful with gas charges though, especially when transferring anything to the Ethereum blockchain.
Also, be sure to triple-verify your deposit address. If you copy and paste the address, try to verify the first four and last four characters. The last thing you want to do is make a mistake on your deposit address. If you do, you will never receive the deposit.
- Make your purchase.
There are several ways to purchase NFTs from Art Blocks. To create a new NFT, follow these steps.
1. Go to artblocks.io and connect your MetaMask wallet.
2. Click the All Projects tab and select the currently open project you want.
3. On the next page, click Buy. Your MetaMask wallet will ask you to confirm the transaction.
4. After confirming the transaction, the NFT will be issued directly to your wallet.
You can also purchase NFT Art Blocks from OpenSea.io. OpenSea is a secondary market, so you will be able to see previously struck NFTs for sale.
Best Wallets for NFT
Best Hardware Wallet: Ledger
The best hardware wallet to store your ETH and NFT is the Ledger. The Ledger wallet comes in two models: the Nano S and the Nano X. The Nano S is the cheapest model, but it cannot store as many applications as the Nano X. In addition, the Nano X is compatible Bluetooth and works with the Ledger Live mobile app.
Both wallets use a specialized, industry-leading Secure Element chip for security. The Secure Element Chip, which is used in credit cards and passports, provides the highest level of security for a chip. Whichever general ledger model you select, you provide the highest level of protection for your crypto assets.
securely via Ledger Hardware Wallet website
Launched in 2014, Ledger has grown into a growing company that develops infrastructure and security solutions for cryptocurrencies as well as blockchain applications for businesses and individuals. Founded in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims to secure the disruptive new class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates into a secure chip for its range of wallets. So far, Ledger is proud to be the only player in the market to offer this technology.
- ERC-20 tokens
- All levels of experience
- Easy to set up and use
- Supports over 1,500 different digital assets
- Long battery life
- Bluetooth connectivity features
Best Software Wallet: MetaMask
To log into the Art Blocks website or OpenSea, you need a MetaMask wallet.
MetaMask is a browser extension that works with Chrome, Firefox, and Brave browsers. Since MetaMask is a browser extension that is both an Ethereum wallet and a Web3.0 provider, it can easily interact with decentralized applications (dApps) right from your browser.
To install MetaMask, simply choose your browser or mobile operating system, click install MetaMask and follow the instructions. The last step will be to transfer the ETH from the exchange to your MetaMask wallet.
The overall performance of cryptocurrencies in general and Bitcoin in particular will very likely have the most significant impact on NFT prices.
Current crypto prices
The overall crypto market has been correcting sharply for almost two months now. Meanwhile, Bitcoin is down more than 40% from the all-time high reached on November 10.
There are a few altcoins that have resisted the trend including Cosmos (ATOM), Fantom (FTM and Harmony (ONE).
Is it worth getting an NFT Art Blocks?
NFTs are risky. If you are buying them strictly as an investment, you must be good at valuing the overall market and individual NFTs to invest wisely.
On the other hand, if you love art and would just love to own NFTs, investing is secondary to the joy of owning. So whether it’s worth owning an NFT Art Block may very well depend on why you’re buying one.
Benzinga has developed a specific methodology for classifying cryptocurrency exchanges and tools. We prioritized platforms based on offers, prices and promotions, customer service, mobile app, user experience and benefits, and security. To see a full breakdown of our methodology, please visit our Cryptocurrency Methodology page.