'Bubble' is a dynamic, on-chain collection that calls attention to the objecthood of digital artworks by responding to market activity. Born in a binary state, each ‘Bubble’ is ‘inflated’ at mint, and designated a resiliency parameter. If the collector reaches the resiliency threshold, through trading before the parameter is met, the Bubble will explode! After that, the Bubble becomes ‘immortalized,’ irreversibly. Each token’s smart contract records its state (’inflated/immortalized’) on-chain, and displays a corresponding visual expression. Pulling on the tensions between ephemerality, permanence, and fragility, ‘Bubble’ both concretizes and questions the volatility of the market.
Collectors can transfer their tokens after minting without the bubble changing during a 6 hour grace period.
In Bubble, each token exists in a binary state. Based on its transaction history, each edition can exist in one of two states: alive (inflated) or immortalized (exploded). Each smart contract for each edition of Bubble contains a set of rules and tolerances that determines how it can be traded and collected, and in turn whether it will remain alive. These rules observe any action that is taken around the trading of the artwork, relying upon variable metrics such as list, sell, or offer price, and collector behavior patterns like holding period and listing period. Should the collector break any of those rules, their Bubble piece will burst—dramatically changing its visual appearance.
Incorporating algorithmic elements of randomness, Santiago invites gamification into the experience by bifurcating the intrinsic trading metrics from one edition to another. The rules embedded into each smart contract are not only different from token to token, but also are always hidden from the collector.
Engendering a feeling of looming anxiety spawned by the unknown, the piece expands volatility—which is commonly accepted as an inherent quality of crypto art markets—into a tangible function, not only defining its value, but also how it exists on the Blockchain. At the same time, each collector is imbued with a sense of personal responsibility: should they break a rule, their artwork will change irrevocably.
With care, and the tensions between labor, value, time, and caretaking center stage, Bubble is a dynamic and interactive NFT project that comes at the perfect time. As paper hands offload their collections, and others sit unsold in empty market pages, Bubble asks: should art be allowed time to mature/age before reaching mass virality? In the midst of a bear-market, where speculative potential outweighs creative potential, Santiago probes collectors to re-examine their role in the wider arts ecosystem.
