Fully on-chain NFTs, 1,000x cheaper to mint.
- 1,000x lower minting cost, by reusing SVG fragments instead of storing repeated art
- 0 off-chain storage: no IPFS, no server — art, metadata and DAO live on Ethereum
- 1 developer, four months, from contracts to DAO
What did Bushido build for this daily NFT auction?
A generative NFT collection that lives entirely on Ethereum and mints a new token only on days the ETH price rises, read from a Chainlink price feed. The stronger the run, the rarer the token. Each one is auctioned for a day, and most of the proceeds go to a Nouns-style DAO whose holders vote on how to spend them. One Bushido developer built it in four months, and SVG fragment reuse made minting 1,000x cheaper.
We build products,
not just tech.
Web3, Blockchain, NFTs
4 months
1 developer
Smart contract development
Ethereum, Chainlink price feed, Solidity, Hardhat, OpenZeppelin, Next.js, Tailwind, Ethers.js
The starting point
A collection that mints a new generative NFT every day, driven by on-chain data — the day’s ETH price — and governed by a DAO. The artwork, the metadata and the DAO all had to live on-chain: no IPFS, no central server.
Rarity would follow the market. The more successive days the price rose, and the bigger the rise, the rarer the token; on a day the price fell, nothing would be minted at all. The money raised would sit in the DAO, for the community to decide what it is for.
What we built
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Put everything on-chain.
The art is stored as SVG in the contract, alongside the metadata and the DAO, so the collection depends on no IPFS pin and no server. The tokens follow ERC-721, so any NFT marketplace can show them.
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Compressed the art the way GIF does.
Borrowing from compression algorithms, the SVGs are split into fragments that tokens reference by index instead of repeating the same markup. That cut the cost of deploying the contracts and made minting 1,000x cheaper.
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Generated metadata on request.
A token’s metadata, image included, is assembled from its fragments when it is read, so the contract stores fragments rather than finished images.
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Minted only when ETH goes up.
A Chainlink price feed compares today’s ETH price with yesterday’s. If it rose, a new token is minted; if it fell, nothing is.
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Made rarity follow the bull run.
An attribute-picking algorithm weighs each attribute’s values by rarity, and raises the odds of the rare ones with the size of the day’s increase and the number of rising days in a row.
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A day on auction for every token.
Each new token is auctioned for a day and anyone can bid. When the auction closes, the token goes to the winning address and the next one can be minted.
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Let the holders decide what the money is for.
Most of each sale goes to a DAO modelled on Nouns, which follows Compound’s governance standard. Holders propose and vote, and a proposal is an Ethereum transaction — transferring funds, investing in another project, buying other NFTs or banning a member.
A typical collection, and this one
| A typical collection | This collection | |
|---|---|---|
| Where the art lives | IPFS or a server | On-chain SVG, assembled from reusable fragments |
| When a token is minted | On the team’s schedule | Only on a day the ETH price rises |
| What makes it rare | Chance at mint | The size and length of the bull run |
| Who decides where the money goes | The team | The holders, by proposal and vote |
Completely on-chain, from the artwork to the ETH price feed to the DAO, and 1,000x cheaper to mint than storing the art in full.
Questions people ask about this collection.
What happens on a day the ETH price falls?
Nothing is minted. A new token is created only when the Chainlink price feed shows ETH higher than the day before, and the bigger and longer the rise, the better the odds of rare attributes.
How was minting made 1,000x cheaper?
By splitting the SVG art into fragments that tokens reference by index, the way GIF compression reuses data, instead of storing repeated SVG content. Metadata and the image are then generated on request rather than stored.
How does the DAO spend its funds?
Holders create proposals and vote on them, following the Nouns and Compound governance model. A proposal is an Ethereum transaction, so it can transfer funds or call any contract — to invest in another project, buy NFTs or ban a member.
Yours is next.
Same team, sharper tools. Tell us where you are and we will tell you what it takes — scope, shape and a timeline we would actually hold ourselves to — on a 30-minute call with an engineer.