EulerBeats NFTS Make Over $1.1 Million in its First Week

The NFT project EulerBeats only launched two weeks ago, but it has already earned over $1.1 million in royalties according to Dune Analytics. So what is this project all about?

EulerBeats are short, original audio tracks with artworks. They are created using Leonard Euler’s (a popular mathematician) mathematical formulas. There are only 27 unique EulerBeats LPs minted, with an initial price of 0.271 ETH.

When you mint a EulerBeat, you are minting a completely original new art+beat which is based on Euler’s totient function. The token seed is generated on-chain. However, the art+beat is a total surprise for the buyer because you won’t be able to preview it until it is minted. 

Along with the 27 original EulerBeats are also 27 prints which are replicas of the original ones. They can be previewed by the buyer before buying them since they have already been minted by the original owner. The pricing system is on a dynamic bonding curve, so every time someone buys a print, the original EulerBeats holders receive 8% in royalty fees with every sale. 

The most expensive one right now is EulerBeats Genesis LP 01 for the price of 27.723 ETH. There are 83 prints so far. Billionaire investor Mark Cuban said he thinks this is “the most genius idea ever” and apparently owns at least two EulerBeats. How far will the prices rocket? Stay tuned. 

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