FAQ for Artists

FAQ for Artists Who Want to Drop on BTC

FAQ for Artists Who Want to Drop on BTC

1. What is Genify?

Genify is a pioneering platform dedicated to the fusion of generative art and blockchain technology, specifically focusing on inscribing artists' creations directly onto the Bitcoin blockchain. Beyond Bitcoin, Genify extends its support to minting and showcasing Short-Form collections across various chains, including Conflux and Lambda. Artists have the liberty to launch their works on the Genify Lambda chain, while releases on Conflux and Bitcoin necessitate an application and subsequent approval by the Genify curation board.

2. Is Genify an Exclusive or Open Platform?

Genify stands as a selectively curated platform, exclusively featuring Long-Form generative art pieces. We actively seek out and invite artists to collaborate with us while also welcoming submissions. Artists interested in partnering with Genify for BTC drops are encouraged to reach out via email at g@genify.xyz, providing social media details and preliminary sketches of their projects. Additionally, direct communication with our curation board members through Twitter DMs to @shaun8149, @JimiWen, and @Arctic0013 is highly recommended.

3. How Does the Curation Process at Genify Operate?

Our curation philosophy is driven by a commitment to showcasing generative art that stands the test of time and leaves a lasting mark on the genre. The process is highly collaborative, with artists playing a central role in the development of their work. Our curation team offers insights and suggestions based on comprehensive market analysis and aesthetic judgement to ensure the art resonates with the market. Regular dialogues, including group chats and video calls, are integral to our collaborative curation process.

4. What is the Timeline from Curation to Release?

The timeframe from initial curation to the public release is influenced by several factors, including the current artists release schedule and the project's readiness for launch. On average, we anticipate a 45-day period from the commencement of the curation process to the artwork's debut.

5. Why Does Genify Feature Pre-Sale and Public Sale Rounds?

Understanding the volatile nature of the cryptocurrency market, Genify aims to mitigate market-related anxieties for artists by assuming the inherent risks. We guarantee fixed compensation to artists, leveraging our advanced data analytics and AI to distribute large editions across partner communities at varied pre-sale prices. This approach ensures stability and predictability for artists amidst the fluctuating crypto landscape.

6. Determining Edition Numbers and Pricing

At BTC.Genify, edition sizes range from a minimum of 900 to a maximum of 2000 pieces. For generative PFP collections capable of supporting larger editions, we may expand this range. Pricing for public minting varies between $60 and $150, influenced by prevailing cryptocurrency market conditions. It's important to note that revenue projections are always less than the multiplication of edition size by public mint price.

7. Artist Compensation Structure

Genify offers a fixed fee commision ranging between $10,000 and $25,000, depending on the artwork, edition size, and price.

Genify will pay a 10% down payment at contract signing and the balance settled within 48 hours after mint completion or 96 hours after public mint has opened.

8. Why No Royalty Income for Artists?

The technical framework of the Bitcoin network, based on the UTXO model, complicates the distribution of royalty incomes. Given the cost implications of processing numerous small transactions, it becomes economically impractical for artists to utilize UTXOs, when UTXOs are less than GAS cost, thus at the moment royalty distributions are not technically feasible.

9. Edition Size Thesis

Genify's curation philosophy emphasizes the significance of Long-Form generative art in encapsulating the generative art of our time. Our commitment to large edition sizes, typically around 1000 pieces, is rooted in demonstrating the algorithm's aesthetic versatility and unity, reinforcing our vision of showcasing historically impactful generative art.

10. **Code Upload Protocol**

To accommodate the high costs associated with BTC chain uploads and the specialized knowledge required for ensuring compatibility across trading platforms and in wallet experiences, Genify assumes responsibility for uploading artists' code. This service includes code verification to ensure seamless integration and functionality within the BTC ecosystem.

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