Methodology

Works. Two figures, each by an honest method. Cost basis is the sum of the secondary ETH/WETH prices paid by the two verified acquisition wallets, as indexed by OpenSea. This counts purchased works, not transaction count; internal transfers are excluded. Buyer wallets: 0xBF6C…82be0 and 0xb449…0D2f. Current value is each held project's floor times the number held, with two guards: a per-work mark cap (50 ETH) so a single aspirational listing cannot dominate, and a 30% liquidity haircut on the aggregate, because a whole-collection number is never realizable at once. A floor is the lowest open listing, an asking price, so for an ultra-thin, low-edition series one aspirational ask can overstate a project's mark (for example a 500 ETH ask on a 10-edition work bought for 20 ETH). The cap blunts that; current value is still indicative, not a realizable price.

Mint prices. The primary price of each of the 500 projects comes from the AB5D holdings register, published as /data/mint.json and matched to the live holdings by contract and project id. Each price carries its source: an indexed fixed price, the last indexed price of a legacy drop, a settled auction price, or a rounded figure from the original drop page. Projects sold by auction at mixed prices are left blank rather than guessed. × mint is the live floor divided by that price, so 10× means one edition now lists at ten times what it cost at mint.

The AB[500] index. This mirrors the methodology of Artacle's AB500 index (artacle.io): a capitalization-weighted index equal to the sum of (floor × circulating supply) across all 500 projects. Unlike current value it uses raw floors, no cap and no haircut, exactly as a market index should.

What "base date" means. An index needs a starting line. We pick a moment, the base date, set the index to 1000 there, and every later reading is that day's total market cap divided by the base date's, times 1000. So 1,100 means the set is worth 10% more than at the base date; 900 means 10% less. The absolute number is arbitrary; the movement is the signal. Our base is the first full reading, so the index starts at 1000 and builds history forward (historical floors cannot be cheaply reconstructed, which is why Artacle's chart runs back further than ours).

Rationale and limitations. Capitalization weighting is simple, transparent, and replicable; it weights value the way the market does, so a few large, liquid projects move it and a 10-edition outlier is a rounding error; and it is the same approach Artacle uses, so the figures are comparable. Its limits are real: floors are asking prices, not clearing prices, so the index reflects listings and can drift with thin or wash-traded markets; it ignores rarity and traits (a top-rank Fidenza is not a floor asset); it is computed off live ETH floors, so it moves with both the art and ETH; and a market-cap figure is never the realizable value of the set.

Token. The $AB5D token value is its live market price (from the Ten Thousand Tokens agent API) multiplied by the number of tokens the treasury wallets actually hold, read on-chain via balanceOf. The treasury is also the token's launcher, so it accrues a share of trading fees; that yield line will be shown separately.

No third-party spreadsheet. Figures cache server-side and refresh on a schedule.