In the ever-evolving landscape of blockchain-based art, NFTs have emerged as a revolutionary concept, reshaping the way we perceive and trade digital art. Among the diverse NFT projects, Opepens stands out as an intriguing ecosystem that has been capturing the attention of art enthusiasts and investors alike. In this article, we will delve into the world of Opepens, examining its unique features, the concept of edition counts, artist sets, and the dynamic demand levels driving its popularity.
There seems to be infinite demand for Opepen.
— Luke Weaver (@lukeweaver_eth) July 18, 2023
What if there was a way to meet infinite demand, with infinite supply?
What if anyone could mint, make, sell, and collect custom Opepen?
Infinopepen
a conceptual framework 𧔠pic.twitter.com/zBZy7LSroL
Opepens Collection and Edition Counts
The Opepens collection is a set of non-fungible tokens, each representing distinct edition counts. The collection comprises the following edition counts, along with their current price in ETH:
- 40 - 0.75 ETH
- 20 - 0.8 ETH
- 10 - 0.9 ETH
- 5 - 1.6 ETH
- 4 - 2.3 ETH
- 1/1 - 12 ETH
Notably, the Opepens collection pays homage to the original Checks collection, which consisted of 80 checks. These checks can be combined and burned in specific groupings corresponding to the edition counts of the Opepens NFTs. With 16,000 Opepens in total, organized in 200 sets of 80 pieces each, the collection represents a captivating digital art ecosystem.
Artist Sets and Releases
Adding another layer of creativity and diversity, "Sets" are proposed to the Opepen community. These Sets feature artists' interpretations of the Opepen's iconography, with each artist submitting six unique pieces that correspond to the edition counts mentioned earlier. To date, nine Sets have been released, with notable artists such as Jack, Jalil.eth, PIV_PIV, BATZ, and SD 2.1 contributing their artistic vision.
Demand Dynamics and Raffle System
Sets are proposed with a minimum demand level, fluctuating between 200% and 2000%. The Opepen holders interested in a specific Set must demonstrate their interest by participating in a raffle for the edition count of their unrevealed Opepen. For a Set to be released, each edition count within that Set must reach or exceed the specified demand level. Notably, the demand for Sets has consistently exceeded the minimum level, with some guest artists witnessing astonishing demands of 10,000% to 14,000%.
Revealing Opepens and Supply Depletion
Upon reaching the demand level, the winners within each edition size are selected, and their Opepens are revealed. This process significantly impacts the unrevealed supply, which decreases with each new Set. With nine Sets revealed so far, the Opepen unrevealed supply has decreased by 720, leaving the current unrevealed supply at 15,280. A total of 191 Sets remain to deplete the unrevealed supply fully.
Price and Value of Revealed Sets
As Sets are revealed, their market value becomes apparent, reflected in their current floor prices (FP) in ETH. The following is the current FP for the revealed Sets, along with their respective artists:
- 1 ETH - Set 9 (Jalil)
- 1.2 ETH - Set 6 (PIV)
- 1.27 ETH - Set 8 (Jack)
- 1.35 ETH - Set 7 (Jack)
- 1.6 ETH - Set 2 (SD 1.2)
- 2 ETH - Set 3 (BATZ)
- 2.2 ETH - Set 5 (Jack)
- 3.95 ETH - Set 4 (Jack-VV)
- 25 ETH - Set 1 (Jack)
Additionally, there is a unique 1/1 Opepen with a floor price of 300 ETH.
The Opepen ecosystem has proven to be a fascinating journey for both artists and collectors. With its creative edition counts, artist sets, and dynamic demand levels, Opepens offers an innovative way to engage with digital art within the NFT space. As the collection continues to evolve, the collaboration between artists and the Opepen community ensures a vibrant and ever-changing artistic landscape.
