Shorts | Erick Calderon: The Importance of Having NFTs Fully On-Chain

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How important is having NFTs fully on chain?

I think there's a lot of layers to that question.

To me, it's very important.

To me, I even went into this deep initiative to put all the crypto punks on chain early on.

I love the nouns concept because they're on chain.

I love a lot of these projects that are fully on chain makes it really important to me.

The reason that it's important to me is because there's provenance, not just in the ownership history, which is how typical IPFS NFTs work,

but there's ownership in the variability of the output.

For something where you have a squiggle that's a hyper rainbow and that has more value generally because there's scarcer.

There's something really important to me about being able to see why that is scarcer.

So there is a math computation that happens in the algorithm of the gromy squiggle that says that based on probability,

this is going to happen I think 1.1% of the time I can't remember what it was at.

To me, that's really important.

That provenance of the variability of an output of a generative piece is critical, long term,

because the whole point of blockchain, the whole point of immutability is that it's going to be around for a long time.

So the idea that in 10 years, 100 years, you might still be able to recover it.

And there was a really nice chart the other day, an infographic that put our blocks in like kind of a recoverable status.

Our blocks should be recoverable for eternity.

Our blocks artworks should be able to be displayed at their originally intended resolution.

And by that, I mean the full screen of whatever the screen is in five years, 10 years or whatever,

because all of the information required to reconstruct that our work is found either on chain or in libraries

like P5JS, which are more decentralized than Ethereum, will ever be, because there's millions of computers hosting it.

And I guess the other side of it that I think is really important is that, you know, you can't store a 25 megabyte image on chain,

but you can store an algorithm that can create a 250 megabyte image on chain.

And it's really just taking what is the limitation of the Ethereum blockchain, capturing that limitation into like the purest form of immutability,

and then putting art in that form. And when you, when we talk about like resolution, agnostic mince,

it seemed like it was something that we weren't going to deal with until we had 24k televisions.

I used to say this on panels all the time, like one day in the future, we're going to have really big screens,

and we want to be able to look at something without it having to be up samples.

In New York, we had this three story screen and artworks on that screen, we're being displayed in full resolution,

and it came way earlier than we thought.

Like the need to be able to sample something at that high of a scale came 10 years,

or eight years before I thought it was actually going to be necessary for it to happen.

And it was this huge validation for the fact that all of that art is on chain, all of the code is on chain,

and the execution for that enabled us to be able to project our ringers and a fedenza,

and all of these other beautiful works, three stories taught.

And that felt really relevant and really important.

And so to me, yes, it's very important for art to be able to.

But it does not mean that good art that it has to be on chain to be good art.

That is okay.

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