Introduction
Introduction to fxhash and Tezos
Last updated
Introduction to fxhash and Tezos
Last updated
Fxhash is a generative art website, using the Tezos blockchain and its native token, tez (XTZ), for purchases. It minted its first token (its genesis token) on 11 November 2021. It moved out of beta and onto version 1.0 on 16 April 2022.
Artists can release their generative art project on fxhash which is designed for this specific category of art.
Once a project is ready, the artist can open it up for sale. Because of the special code (smart contract) that fxhash uses, each piece of the collection will be slightly different; even the artist doesn't know exactly how it will look until someone purchases the piece.
When a piece is purchased, the code is activated and a unique generative token (gentk) is created. This is your piece of art from the collection. This process is called 'minting' and is the primary sale of that piece of art. Each piece can only be minted once - think of a chicken being hatched, once it has done that, it can't do it again. From this time on, if the artwork (token/gentk) is put up for sale and/or sold, it is referred to as the secondary market.
At this stage, the types of sales that can occur on the fxhash secondary market are very simple; a person lists a token for sale, and someone can then buy it, or a person places an offer on a token and it can be accepted (or ignored). Fxhash doesn't currently support auctions on the secondary market.
Fxhash is a website where you can purchase generative art on a cryptographic blockchain. Each piece of art is commonly known as an NFT (non-fungible token).
Fx(hash) is an open platform where artists can mint Generative Tokens which are stored on the blockchain. Generative Tokens are programs designed to produce random outputs. Once a Generative Token is enabled (when the artist decides it), anyone with a tezos wallet can mint its own unique iteration of the Generative Token. Each iteration produces a unique piece that is stored as a NFT on the tezos blockchain. The NFT are FA2 compliant, which means that they can be exchanged like any other NFT
A site that fxhash is compared with is , which started in early 2021 on the Ethereum blockchain and has successfully brought worldwide attention to the gen-art space. Unlike fxhash, transaction fees are incredibly high (due to being on the Ethereum blockchain) and the starting prices of the art are also high. These are two reasons why fxhash has helped a lot of people purchase gen-art when they previously couldn't afford to.
Generative art is the specific category of art that fxhash was created for and there are rules in place to determine what is and isn't appropriate for the sight. One such rule is that the gentk should produce the same result on reload or redraw. If it doesn’t, it is in opposition to the spirit of fxhash. There are many more considerations, captured in their .
A definition of gen-art that is commonly cited is:
Generative art refers to any art practice where the artist uses a system, such as a set of natural language rules, a computer program, a machine, or other procedural invention, which is set into motion with some degree of autonomy contributing to or resulting in a completed work of art.
Bear with me on this analogy!
Blockchains are similar to countries, each with its own currency. For the Ethereum blockchain, the currency is ether. For the Tezos blockchain, the currency is tez.
When we refer to websites that interact with a specific blockchain, we call it the ecosystem; eg. the Tezos ecosystem.
Think of fxhash as a city in the Country of Tezos, and the currency of the country is tez. Therefore, to buy and sell items from the city of fxhash, you need to use tez. There are many cities in the Country of Tezos, but we are focused on fxhash here.
To get tez, you swap your normal money for it, just like when you travel to a new country. In this case, you open an account with a centralised exchange (CEX), such as Coinbase, Gemini, Binance, Kraken or KuCoin. Just like swapping currencies, there will be an exchange rate eg $1USD = 4tez By sending money from your bank to your new CEX account, you will then be able to exchange it for tez.
To buy and sell goods using a crypto-currency (such as tez), you use a digital wallet. These wallets hold your crypto-currency (digital money) as well as any items you purchase. It is both your wallet and your own vault or safe.
Once you have tez in your CEX account, you can then send it to a digital wallet.The most popular wallets in the Country of Tezos (ecosystem) are Temple and Kukai. You will need to create a wallet.
Now you have a digital wallet, which is what you use to buy and sell items on the Tezos blockchain (the country of Tezos). So, as long as you go to websites that sell items in the tez currency, you will be able to buy there. Using the city analogy, most cities on the internet only use the currency of their country. See footnote for details on multi-currency cities.
Your new digital wallet has a public address, which people can send things to, just like your letterbox and home address. It is this address that you send your tez to (from your CEX account). The unusual bit is what the address looks like; it is a bunch of numbers and letters and not something you are meant to remember! Just like the codes used to send messages in WWII, this is a cryptographic code and ensures that no-one else can have the same address. Always use copy and paste, rather than typing out your address, to avoid errors.
After you send your tez from your CEX account to your new digital wallet, you can open the fxhash website and synchronise it with your wallet. This will allow you to buy art. It also lets fxhash see what art you have in your wallet and display it for you. It is safe to leave your wallet synchronised (connected) with the site. Nothing can happen unless you approve a transaction - you are always required to do this and it is an important safety measure.
Once you have found a piece of gen-art on fxhash that you like, if it is for sale, it will have a ‘purchase token’ button on the page. When you select this, there will be a delay or 1-10 seconds as fxhash interacts with your digital wallet. Your wallet will open and you will be asked to confirm the transaction. Once you confirm it, there will be another 10-60 second delay as your wallet and fxhash interact with the Tezos blockchain. If you have been successful, then it will let you know; likewise, if there was an issue. See troubleshooting for types of issues and ways to fix them.
Congratulations! If all went according to plan, your lovely piece of gen-art will now be owned by you and available to see in your fxhash collection. Go to your profile icon in the top right corner of the site - it will give a drop-down list. Select ‘collection’. Sometimes it can take a short period of time (minutes to hours) for your artwork to appear. This only happens occasionally if things are very busy on fxhash.