What is 1 of X?

The Problem

In order for a new or unknown generative artist to create a NFT collection there are two original options for them to consider.

  1. Learn to create your own smart contract (costly in both time and money.)

  2. Get access to exclusive generative art platforms (long wait list and application times)

These problems in addition to high gas fees on Ethereum mainnet led to the creation of more open platforms on other blockchain networks. This was exciting but, while looking into both open an closed platforms we had concerns around how the technology was built including:

  • The mutability of NFT token Metadata
    There are three options for the creation of metadata. Either the metadata is created before you mint (like 1 of X), after you mint and stored off chain mutably (like Art Blocks), or you mint the token, then then metadata (like fxhash). Despite claiming immutability only by creating the metadata before minting guarantees the metadata does not change.

  • The uncertainty of long-term success of blockchains outside the Ethereum ecosystem
    There are over 50 million wallets holding Ethereum. Although there have been major problems with gas-wars and gas fees we believe it still has the strongest foundation adoption, technology, and infrastructure. In addition, upcoming improvements on Ethereum would render many of the concerns irrelevant.

  • The difficulty of onboarding new artists to less used tokens
    Because there are less wallets holding other tokens and the infrastructure surrounding these tokens is less known there is more difficulty in onboarding new artists and collectors to these chains.

  • The transparency of purchasing tokens as a collector
    When minting a randomized token you don’t know what the end product will be. For collectors this can sometimes be exciting but often is disappointing. It reduces the desire to mint a new token and reduces a collectors ability to curate by aesthetics.

The Solution

We’ve built 1 of X with a vision to make an open generative art platform that is safe, easy, and inexpensive for creators and collectors.

  • 1 of X Runs on Polygon and Will Bridge to Ethereum

    Launching on Polygon solves the current challenges of high gas fees while allowing the passing of information between other Ethereum-compatible networks. To mint your artwork the gas cost is ~$0.01. If and when gas fees on the Ethereum network are reduced we will allow for the direct minting on Ethereum mainnet.
    Polygon's native token (matic) is also currently inexpensive and easy to acquire for new creators and collectors. It is more widely used by developers and will give more access than tokens outside the Ethereum network. For example all tokens minted on 1 of X are available immediately available on OpenSea to view or list. You can transfer your Polygon tokens to Ethereum at anytime once the bridge is deployed to mainnet Ethereum.

  • Guaranteed Immutable Metadata
    Metadata on 1 of X is immutably stored in IPFS and there is no way to change the metadata url after minting. Even if 1 of X is shut down, the artwork can be pinned by anyone and the token will live on.

  • Artwork on 1ofX is Lazy Minted
    Because we create the token and it’s metadata are created before it’s minted a collector can view all the generated variations of a collection before purchasing. This gives collectors the transparency to know exactly what they are buying before they buy rather than waiting for a reveal.

  • No Artist Applications
    There are no applications for uploading and minting your artwork on 1 of X. We are an open platform. There is need for moderation but because of our minting process the risk is lower for buyers. Bad actors are disabled from lazy minting.

Contract

The 1 of X Contract is verified on PolygonScan.