01/07/2021 Are NFTs Revitalizing the Art Market?

The art world as is the case for most other fields was devastated by the COVID-19 pandemic lockdowns. The interface of art with the public was cut off and artists struggled to get their art seen, let alone sold.

The blockchain came to the rescue again with the introduction of NFTs for art. In a very short time, artists have been able to offer digital representations of their art in its creation or destruction in some cases in an online auction format using cryptocurrency as the medium of exchange.

NFT's use of blockchain technology also provides the proof of originality of the artwork and its history of ownership. Ideally, this concept of 'provenance' is where the value of an NFT is derived from as a digital asset.

The record-breaking Christie's auction of Beeple's “Everydays: The First 5000 Days” for $69 million has drawn the interest of many in the art world but some fear that speculation and hype will dominate the market leaving most artists disappointed.

Other major art auction houses like Sotheby's,  (BID) - Get Report are jumping into the NFT space along with online marketplaces SuperRare, OpenSea, and even crypto exchanges such as Binance.

To some artists such as Max Denison-Pender, the new technological innovation is full of possibilities. His recent auction of self-portrait 'Take Me To The Moon' which was flown into an active volcano in Iceland was a financial success on the OpenSea NFT marketplace. His optimism about the future of NFTs remains cautious.

 

Arts

https://www.thestreet.com/video/are-nfts-revitalizing-the-art-market

Interesting NFTs
The Complete MF Collection
THE COMPLETE MF COLLECTION by Beeple
#72471
By OthersideDeployer
Block Chain Dungeon
Once upon a time... a little boy named Leo loved to paint, draw and experiment. He also loved to play with blocks and chains, which drew him again and again into the rooms of his friends Michel and Angelo. Often they also met in virtual rooms of Cryptovoxels, Decentraland, Somnium Space or Sandbox to create new inventions, read books about new technologies, or just swing the brushes. But on this day something gigantic happened. A good friend of Leo came to visit and brought his girlfriend Mona, who wanted a piece of Leo's art on her skin. This was the birth of the NFT's, as Leo developed Non Fungible Tattoos in the Block Chain Dungeon of Michel and Angelo. From that day on people from all over the world came to get NFT's from Leo or one of his students, like "Skeenee the rat", who controls the NFT machine with his laptop. A new age began.
Cleocatra
Good morning! I'm Cleocatra. I've never told anyone this, but I once snuggled a dog. It's not common knowledge, but my ancestry connects me to Cleopatra. Will you be the marmite to my maple syrup?
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.