Squiggly NFT Prices & Overview
Squiggly is an experimental project of randomly generated, fully on-chain squiggly line art created by @NateAlexNFT. As other on-chain art was beginning to grow larger, Nate wanted to experiement with creating something bigger than the art itself, which led him to create what he coined as a "Smart Contract Art Project (SCAP)". Rather than just minting art normally, each Squiggly NFT, of which there are 100 total, was created as an auction consisting of three phases and requiring minters to start and end each auction. Once a minter called the Start Auction function, a 1000 block timer began. To win an auction, people had to purchase "ink cartridges", of which there was a 100 ink cartridge supply per auction. Each auction lasted either 1000 blocks or until all 100 ink cartridges were purchased. Once this was complete, someone had to call the End Auction function, who then was awarded as the token creator and rewarded with a 15% dividend from the sale of that Squiggly. The winner of each auction was selected randomly from the holders of the ink cartridges from that auction. The win probability of the auction was proportional to the amount of ink cartridges owned divided by the total ink cartridges sold in that auction.