Web3 has no shortage of “crossover episodes,” moments in crypto art culture where projects, memes, and personalities blend together and influence each other in significant ways. from Beeple daily commentary on the NFT space is a good example of this, but he’s far from the only influential voice turning existing trends into something fresh and new, whether that’s a simple observation or a full-fledged Web3 project.
One of the most enduring symbols in the crypto world is Pepe the Frog, the iconic 2005 cartoon character created by Matt Furie. Since its inception, Pepe the Frog has become one of the internet’s most recognizable (and obscured) memes. In Web3, it has popped up in everything from character-based NFT projects to eponymous cryptocurrency memecoins.
So it’s no surprise that Pepe influenced the creation of Opepen, one of the latest NFT collections from Web3 wizard Jack Butcher, the artist behind the highly successful Checks NFTs project and creative agency Visualize Value. Opepen is a collection of 16,000 open-edition NFTs of which artwork changes during a series of drops and reveals.
The project features the dynamics Butcher is known for in the space, and with trading volume in excess of 63,250 ETH ($116 million) and individual selling nearly 31 ETH ($58,000), Opepen has caught the attention of all of Web3. Here’s everything you need to know about it.
What is Open?
Despite the large volume of the project, Opepen is not just another digital art NFT collection; it is also a community-driven experiment that explores the concepts of uniqueness, scarcity and abundance in Web3.
As much as it was inspired by the Pepe meme culture, Opepen also took its inspiration from the geometric works of digital artists batz, whose series of artwork made using only squares and circles caught Butcher’s attention this spring. Butcher decided to create his own version of Batz’s style, using only rectangles and ellipses. He named the project Opepen, a portmanteau of the “open” in open edition NFTs, and “Pepe”, the controversial frog meme ubiquitous in Web3.
For some context on this piece, my timeline was filled with the incredible work of @batzdu for the last few days, please watch out and support.
Second, 24 x 72 canvas and name “scapepe” inspired by the legendary @scapes_xyz banner project.
Banner ready attached: pic.twitter.com/1PCq15lfsr
— Jack Butcher (@jackslager) January 8, 2023
Open launched on January 8, 2023, as a 60-minute open edition NFT drop. But this was not just any open edition. First, the NFTs themselves weren’t revealed immediately, but rather during a series of drops that happen periodically (on a timeline that Butcher sets at random).
In addition, each drop contains 80 Openens out of a total of 16,000 (with 200 sets in the entire project). Every Opepen owner must sign up for artwork samples they like (by signing a message in their crypto wallet) to have the full NFT revealed (which will only happen if the proposed metadata change has a 200 percent opt-in rate). gets).
Some drops are like art print editions, meaning everyone in the set gets the same artwork. Others include minor variations or even 1/1 works. However, even after signing up, the distribution of the art is random.
open tldr
→ each open pen has a preset edition size
→ open pin are revealed in sets of 80 (200 sets in total)
→ you choose sets you like (illustration example)
→ only sets drop if there is a 200% opt-in rateto ask? pic.twitter.com/v8zSDlIOTi
— Jack Butcher (@jackslager) April 30, 2023
For the 200 percent opt-in to take place, the 80-NFT drop requires at least 160 opt-ins. So far, the demand for the drops has been well above that limit, sometimes even reaching it more than 10,000 percent.
In creating this system, Butcher wanted to experiment with the idea of uniqueness in the digital world, a theme that often crops up in his Web3 projects. But instead of delving into themes of scarcity and rarity, as he did with Cheques, Butcher plays with the concept of abundance in art and how that influences the choices of his collectors. With Opepen, he also wanted to foster a sense of community among his collector base by allowing them to participate in the unveiling process and influence the outcome of every drop.
Opepen’s evolution was marked by Butcher’s transparent leadership style. He has been constantly sharing updates and engaging in discussions about the project via Twitter, giving enthusiasts insight into the development and future of the project and empowering holders Give feedback when opening the door further artist collaborations.
Who started Open?
Butcher is a British-born artist, designer and writer based in New York City and the founder of Visualize Value. This platform creates and sells digital products that help people communicate more effectively.
Visualize Value started as a side project in 2017, where Butcher shared minimalist graphics that distilled complex ideas into simple visuals on social media.
— Jack Butcher (@jackslager) June 4, 2023
Butcher is also an avid NFT maker and collector. When he released the open edition for his January 2023 collection of checks, each check was minted for $8 and has since done over 54,800 ETH ($100 million) in volume at the time of writing.
According to a Tweet dated April 17, 2023 by Butcher, his intention as an NFT creator is “to preserve moments in time driven by major technological shifts. The output: ‘artifacts’ that capture these moments. For Checks, the disruption of institutional trust from above and the normalization of bottom-up truth-seeking.”
Opepen’s rise to prominence
Opepen’s success can be attributed to several factors. First, Opepen benefits from the reputation and vision of Butcher, who is widely respected and admired for his past collections.
conceptually, you can create any existing digital image with the above pieces
remixed to infinity
— Jack Butcher (@jackslager) February 21, 2023
Secondly, Opepen stands out for its innovative drop mechanism that challenges the norms of NFT collections. Opening doesn’t reveal the art for its drops all at once, and it doesn’t rely solely on rarity features to create value.
Instead, Opepen creates a plethora of art and choice for its collectors, allowing them to sign up for different drops and receive random artwork from different artists. In this way, Opepen creates a sense of anticipation and participation in a way that other collections do not have. In addition, Open rewards its collectors for holding Checks NFTs, creating buying aid for both of Butcher’s projects.
In fact, one of the rarest Opepens hit to date is a “Black Opepen Check”, an amalgam of Butcher’s projects.
The first all-black Open Check. ✍🏻 pic.twitter.com/sc2XJ2rjWt
— E ◵◵* (@BB88888888888BB) June 6, 2023
Oppen’s future
Opening is still in its infancy, alone six drops out of 200 have been completed so far. There are many more to come, with more artwork from Butcher and guest artists.
Openen is an experiment that pushes the boundaries of digital art. Each NFT is a step in an open-ended adventure that invites anyone who is curious and creative to participate.