Latest Light Years Selection Pass News
The holder of Selection Pass No. 1 will start up the process now of choosing which "Light Years" piece they want, as part of Dmitri Cherniak's latest project.
At 10 a.m. ET, the No. 1 pass holder, who paid 70 ETH for the pass, gets to be the first of 98 wallets to choose their piece. Subsequent picks will come every 10 minutes after.
The floor price of the project is 28.45 ETH and the passes have done more than 740 ETH in volume since minting out four days ago at a final mint price of 22.4 ETH.
Users can browse the artworks, from the Ringers artist, on the "Light Years" website.
Dmitri Cherniak's latest project "Light Years" has surged 41 percent in early secondary trading this afternoon on OpenSea.
The project completed a fair Dutch auction for its mint passes earlier this afternoon with a final mint price of 22 ETH. The floor has since surged to 31 ETH on the back of 436 ETH volume. This puts the project market cap at just 3,100 ETH, a fraction of some of Dimitri's early work.
It was difficult to project where Light Years would mint, given its low supply of 100 NFTs and current bear market conditions, but most expected it to go relatively high. Dmitri's iconic Art Blocks genesis project, Ringers, holds a 65 ETH floor with 1,000 supply (65k ETH market cap). His second collection, The Eternal Pump, has a whopping 275 ETH floor (13.75K ETH market cap), though the last trade was for 215 ETH six months ago.
Dimitri has also shared new details for the mint pass holders, sharing that they will be able to select a piece of their choosing according to a schedule on this site. The mint pass redemption will start on Dec. 5 at 10:00 a.m. ET.
You have a Light Years selection pass - now what?— Dmitri Cherniak (@dmitricherniak) December 1, 2022
Each pass is associated with a time slot, where the holder can pick their artwork. The lower the pass ID, the earlier you get to pick. Here's where you can see your time slot, and pick your artwork:https://t.co/JfDXrkdDjV pic.twitter.com/WKQIvrFnOo
Dmitri Cherniak, the artist behind one of the most popular NFT art collections 'Ringers', is back with a brand new 100-piece collection called 'Light Years'.
The Dutch auction starts on Thursday, Dec. 1, at 1 p.m. ET and starts at 70 ETH. The price will drop by 0.2 ETH every 12 seconds until the collection sells out or reaches 10 ETH. It will remain at 10 ETH until it sells out, if it does not sell out sooner.
The auction is for a selection pass, which allows the collector to choose their preferred artwork. The first purchase will be Selection Pass #001, followed by Selection Pass #002, and so on. The lower the number, the sooner the collector chooses which artwork will be claimed by them.
Additionally, Selection Passes #001 to #030 will be airdropped a "unique 'process' NFT from Dmitri Cherniak directly." Selection Pass #001 to #010 holders will also "receive a beautifully framed physical negative that corresponds to their chosen artwork."
Two of the artworks have been reserved for institutions, "as part of an effort to bring larger understanding and attention to generative art." Those artworks are #009 and #093, chosen by Director at Pier 24, Chris McCall.
Three of the artworks will be given to Dmitri Cherniak, The Estate of Laszlo Moholy-Nagy and Fellowship.
Each NFT also comes with a free physical print, which can be claimed in January 2023.