PARIS, Feb. 28, 2023 /PRNewswire/ -- When it comes
to surfing the internet, we often speak of "falling into a rabbit
hole", an allusion to the first chapter in Lewis Carroll's novel Alice in
Wonderland, and the same notion is equally appropriate as
regards the sometimes bewildering and unbounded experience in the
Web3 and crypto-art sphere. To help you navigate in this virtual
world, and at a time when the MoMA in New
York, the LACMA in Los
Angeles, and the Center Pompidou in Paris are opening their collections to digital
art, Artprice suggests five ways to discover art that can be
transferred from owner to owner in the form of NFTs.
Weekly NFT Auction Proceeds Vs Ethereum Price
Infographic
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Top 10 artists by NFT auction turnover (2021–2022)
Infographic
- https://mma.prnewswire.com/media/2010705/Top_10_artists_Infographic.jpg
"Crypto-art is gradually entering museums and art history,
but, for the time being, it is a form of artistic creation that is
still very freely experienced on the Internet," says
Thierry Ehrmann, CEO of
Artmarket.com and founder of Artprice.
"The crypto-art sphere is often described as operating like a
'community'; the more you invest in a project, the more qualitative
information you receive. This is how the Discord platform works,
for example, which offers to create different more or less private
chat rooms for each project. Some allow everyone to participate in
the discussions, but the most interesting chat rooms are those
reserved for collectors or founding members."
To give you the desire and the means to take part in this new
artistic experience, which aims to bring together artists,
collectors, graphic designers, developers, and many others,
Artprice recommends five ways to dive into this universe and start
your adventure.
1. The continuous way: following artists on Twitter
Despite the many criticisms made of Twitter, Elon Musk's platform remains the royal road of
Web3. Not only do digital artists use this channel to present their
works as and when they are created, but they also relay the posts
in which they – and all those they like – are quoted. Each page,
therefore, contains countless dynamic links to other artists and
other works, but also to collectors, curators, marketplaces,
etc.
To start with, one can follow any of the top
performing NFT artists at auction that Artprice lists in its annual
reports. The major auction houses are indeed doing valuable work by
selecting NFT works that meet the same requirements as the
traditional art market. But, as one thing leads to another in the
digital world, and one artist leads to another, Twitter then makes
it possible to continuously discover new works and new creators,
but also to be the first to know about upcoming projects.
Robbie
Barrett:https://twitter.com/videodrome
IX SHELLS: https://twitter.com/ix_shells
2. The studious way: reading articles and interviews
The decisions by Christie's, Sotheby's, Phillips, Bonhams but
also Fauve, Van Ham, Millon, and
many other auction operators to amply include NFT lots in their
sales proves – even if it no longer needs to be proved – the
seriousness of NFT technology and the artistic creation it allows.
The most prestigious galleries, like Pace and Gagosian, have also
understood this, yet few media dare to offer any real artistic
critique of NFT projects. This work (art criticism), so crucial to
art history, would undoubtedly make a better appreciation of the
approaches taken by digital artists and of their relationships to
Blockchain technology, and to the 'communities' that support
them.
Faced with the multiplication of marketplaces, crypto-art needs
space and time for reflection, to understand and digest innovative
practices at the frontier of technology, as the projects of these
artists gain in depth and intensity. Artprice offers two articles
that capture the work of key digital artists in the NFT
universe.
Artforum : Hack the Planet, Hans Ulrich
Obrist talks with Pak
: www.artforum.com/print/202207/hans-ulrich-obrist-talks-with-pak-88907
Right Click And Save: An Interview with XCOPY :
www.rightclicksave.com/article/an-interview-with-xcopy
3. The prospective way: surveying major collections
Transparency is one of the main credos of the Blockchain and as
such, it is possible to consult the collection to which each work
belongs, to discover other works that the same entity collects...
and so on. True, the real identity of collectors often remains
anonymous or hides behind a pseudonym, and yes, NFTs can be
transferred from one wallet to another to increase security and
cover their tracks, but there is always a way to reconstitute their
history.
The most dynamic collectors have also become the true tutelary
figures of crypto-art. Until museums and galleries become active in
this universe, the major collectors of NFTs still have a very
substantial influence, whether by sharing their favorites on social
media, collaborating with artists, or exhibiting their collections
in virtual universes or physical places as the prestigious Art
Basel Miami or by offering them for sale via traditional auction
houses.
Cozomo di Medici: "For over 700 years, we have loved the
jpegs":
https://opensea.io/Cozomo_de_Medici
Max Stealth: "A Timeless Collection":
www.sothebys.com/en/buy/auction/2022/inside-the-world-of-maxstealth-a-timeless-collection
4. The traditional way: visiting physical events
Crypto-art is now coming to public places, galleries, and
museums. From the great hall of the MoMA to Times Square, digital
art is gradually investing some of the biggest screens on the
planet and some of the most prestigious museums. Advertising spaces
and exhibition halls are coming together for the first time in
history, no doubt, to show a new type of work, at the crossroads of
art and technology, which sometimes looks a whole lot better on a
big screen than on a smartphone or a laptop screen.
At the same time, almost everywhere in the world, art fairs
offer to investigate this universe more deeply and to experiment
with digital creation in the best possible conditions. These events
provide opportunities to meet the different players who form a real
'ecosystem' and to meet the 'community' which allows digital
artists to largely bypass art galleries, and which brings together
entrepreneurs, developers, collectors, and enthusiasts.
NFT New York, April 12-14, 2023 at
Times Square and Hudson Yards:
www.nft.nyc
Pompidou Center: Presentation of the first NFT acquisitions on
April 8, 2023:
www.centrepompidou.fr/fileadmin/user_upload/CP_NFT_Acquisition_fevrier_2023__1_.pdf
5. The safe way: collect a first NFT work
However… nothing replaces the experience of a first NFT
acquisition. Not only does it force you to find a work that
deserves to be purchased among the millions offered on platforms
like opensea.io or objkt.com, but this process also requires you to
complete an unusual transaction, to say the least. Although some
platforms now offer payment in euros or dollars, the vast majority
of them require the creation of a (free) electronic wallet, powered
by cryptocurrency. This operation may seem complicated, but it is
an integral part of the universe on which crypto-art is based and
therefore of the experience it offers.
In the absence of galleries, artists organize their own markets,
choosing what, when, and how to put their works on sale, at what
price, and in what quantity. Unique digital works (1/1) are the
most sought-after, but larger editions offer a more affordable
opportunity to collect pieces. Among the novelties of the NFT
market, the Open Editions are particularly exciting, since these
projects put an unlimited number of tokens on sale at a fixed
price, but for only a few days or even a few hours...
The information and econometric studies produced by
Artmarket.com are presented uniquely for the purpose of analyzing
and understanding the statistical realities of the art market and
should in no way be considered as advice or a suggestion or a
solicitation to invest in the art market.
Images:
[https://imgpublic.artprice.com/img/wp/sites/11/2023/02/image1-weekly-nft-auction-proceeds-vs-ethereum-price.png]
[https://imgpublic.artprice.com/img/wp/sites/11/2023/02/image2-artmarket-top-10-artists-by-nft-auction-turnover-2021-2022.png]
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