Gm (studio), everyone!
Today I would like to crunch the numbers behind one of the most successful curated platforms in the generative art world. They are gmStudio and are part of the gmDao, a decentralized autonomous organization.
The gmDAO is a community of NFT collectors, artists & investors created in September 2021 using a fair token distribution. Broadly speaking, the DAO was formed based on the principles of etiquette and mutual respect, making our community a haven within a typically hostile environment.
The gmDAO membership tokens grant you access to their DAO.
The distribution of the DAO tokens was quite innovative. @CyphrETH (not to be confused with FxHash - ciphrd), its founder, twitted gm for 100 days, and the first ten people who replied gm back could claim a gm token.
โญ๐ถ๐ญ๐ฅ๐ฏ.ฮ๐ฑ๐ฅ @CyphrETH
gm. Everyday for the next 100 days, I will say "gm" without fail. The first 10 people who say it back will be entitled to claim a coveted "gm." token. If no-one says it back (โน๏ธ), I will burn that day's tokens, thus making it deflationary. Let's begin opensea.io/assets/0xd07dcโฆ
The experiment worked. The floor on each token is 3.14 Eth, it has commanded over 2,431 Eth in volume, and there are 688 owners and 847 tokens (81% unique owners), according to Open Sea data.
gmDao token sales over time. Source: Opensea.
So, what is this DAO working on? gmStudio.
A generative art platform by artists, for artists.
Our goal is to make gen art accessible and inclusive to all.
We are the worldโs first community owned and managed arts platform.
gmDAO members can collect before collections are open to the public. Usually, they sell out quickly, and it is tough to get your hands on these pieces at the public sale (believe me, Iโve tried). What I find especially interesting about their system is any artist can submit their generative art collection to be reviewed by their committee and selected on artistic merit (not by name).
Factura #976 by Mathias Isaksen sold for 2.5 Eth
Until now, they have launched five curated collections.
Koripo by Rich Poole
Letโs look at them closerโฆ Before continuing, a few reminders:
This isnโt financial advice. NFTs are very volatile, and you should always do your own research.
This report is purely analytical. Iโm not analyzing collections from an artistic point of view. I do that in other articles.
This section is for Premium members onlyโฆ
At first glance, all the collections have maintained a floor price significantly over the mint price.
It is clear gmDAO members are very active, noticed by the quick sellouts. This could be a matter of hype and how hard it is to get your hands on the primary offers. Nevertheless, all the collections have performed pretty well after months of being released, as the floor prices are clearly above the mint price.
The collections might appear to be extensive (all are 999 pieces, except Plasticity, which has 555 pieces), but this is counter back by spacing out their drops and taking weeks, or sometimes months to release a new one.
Mind the Gap and Factura have commanded over 2k Eth and 3k Eth in total volume, respectively.
Perhaps, the most impressive stat from the whole analysis is the total volume from all collections. gmStudio collections have an added total volume of 7,182 Eth (around $10M at todayโs Eth price).
Mind The Gap by @mountvitruvius has sustained a constant volume over time. This is the first-ever released collection by gmStudio.
One downside I have experienced and heard from my readers is it is almost impossible to get your hands on these drops if you arenโt part of the DAO. That isnโt necessarily bad for the DAO, as it creates a clear incentive to get a gm token and access these drops. I wonder if this could affect in a negative way to distribution among collectorsโฆ
Each collection has very healthy unique owners distributions, noticed by all of them having over 53% unique owners. This doesnโt mean a wallet or a group of wallets could hold many, as they could be using different wallets or sold on secondary after the drop. Nevertheless, at least at this glance, the distribution looks pretty healthy.
Catharsis #69 - I Get Along Without You Very Well by Dario Lanza sold for 1.2 Eth
As an artist, it might be hard to be selected as the competition should be intense, but it will pay off to be published here. Even if you arenโt selected, just going through the process and getting feedback on your project should be worth it.
As a collector, paying attention to their upcoming collections makes sense from an economic perspective and for finding high-quality generative art. Their curation process is unique and is performing well.
Until next time,
- Kaloh
Kaloh
