EulerBeats, the new NFT platform where art and music merge algorithmically, was launched on Feburary 15. The project has been developed by Treum, a traceability company for the supply chains of the ConsenSys factory.
The platform, built on the Ethereum blockchain, is inspired by the brilliant 18th-century mathematician and physicist Leonhard Euler. Euler’s contributions in the field of music were of great relevance to the theorists of his time.
Euler’s Mathematical Discoveries
EulerBeats presents a unique and ultra-rare collection of 27 original pieces of art and music generated from Euler’s mathematical discoveries. EulerBeats opened with a few glitches that the developers could fix in no time. The sale of the 27 available tokens sold out in just 3 minutes.
The creators of EulerBeats explained yesterday in Clubhouse that their collection of art and music at NFT combines math, art, music, royalties, and scarcity in a stylish, one-of-a-kind digital package.
The blockchain platform’s design guarantees that each of the 27 pieces of art and music generated in it is entirely original and unrepeatable. The new tokens’ minting was executed on the Ethereum chain, creating pieces of unique shapes and colors with audio included. Music is what makes EulerBeats NFTs the first of their kind.
Price Link Curve On Ethereum
Once the 27 original pieces are sold out, users who want to access one of them can do so by purchasing replicas of the original NFT EulerBeats tokens. So far, the EulerBeats Genesis LP 01 has printed and sold the most copies. The replicas of this token are sold for a value of 0.477 ETH, equivalent to about $858, at press time.
NFT replicas’ value is expected to grow as more copies and replicas of the original token are printed. The project developers established a formula using a price link curve based on Ethereum, which allows the definition of the cost of the copies according to their demand.
That is, the price link curve causes the value of issuing the next impression of a token to increase at an exponential rate as the number of copies in circulation of a particular original NFT token increases.
This methodology makes replica prices accessible to first-time users. And that the impressions of the tokens are revalued as the interest and demand for them increase.
EulerBeats offers an incentive program for its users. Owners of the 27 original NFT tokens of the platform will receive 8% of each copy or replica value that is printed on their token. That is, 8% of the income from each sold impression of the original token they own.
Collectors can also recoup 90% of the prints’ value if they deem the replicas to be overvalued. To do this, the project stores 90% of the replica’s value in reserve. Thus close to the entire value of the prints can be refunded if burned by collectors.
Art and Music For Eternity
EulerBeats developers ensure the durability of NFT tokens forever thanks to blockchain technology. If the EulerBeats website disappears, the tokens will remain intact and available on Ethereum, the project developers say.
The seed of the tokens is generated and stored within the Ethereum blockchain so that owners and collectors can generate their original tokens again.