NFT News - Page 3

With all that’s been happening with the boom of NFTs in the last year a lot of people have been questioning whether they are just a bubble tied to the rise of cryptocurrencies and the rise of digital art in general. However, recent changes on the scene show that NFTs are entering the ‘traditional art system’ through legitimized auctions, exhibitions, and certified platforms. It may have all started as a technological experiment, giving headway to digital art and allowing impromptu creatives to make a quick buck. However, with the caliber of artists such as Damien Hirst creating his very own

Gaining headway in the 1960s through a branch of experimental film, video art took a while to become an established form of contemporary art widely promoted and recognized. Attracting artists from the most disparate fields, from music, performance, literature, visual art, and the moving image, video art meant experimenting with audiovisual configurations and conceptual ideas. A symbol of unconstrained expressionism, exploring new forms of technology, in an artist-run environment, passing from the non-profit underground movements to then entering the mainstream contemporary art market, from galleries to Art Biennales and exhibitions around the world video art was not accepted right off

The traditional art market has been undergoing a transformational process since the rise of NFTs in 2020. With digital art at the forefront as one of the main sources of generating income thanks to an influx of cryptocurrency transactions, it is no wonder that in just under a year the NFT market is booming, and just about anyone from teens, to digital artists, to celebrities and aficionados are trying to get into the market to make some fast hard cash. With the rise of digital art NFT platforms and the impact they are causing on the art market as a

The photography market has been growing over the past few years, we only need to look at the growing numbers for this sector at the latest Art Basel and Miami. That being said, there are some challenges for the market. Firstly, there is a reticence by collectors to apply the same level of remuneration and value which is given to paintings and sculptures. “Nearly two-thirds of the lots offered remain unsold” (Artprice) The point is, the art market for photography is relatively new as the first photography department at a major auction house was established in 1971. The fact is

To gain an understanding of today’s contemporary photography market and the relationship between artist’s and collectors and how it ties into the explosion of NFTs we must first hark back to its origins and how it has evolved over time. The collection of photographs went hand in hand with the invention of photography. P & D Colnaghi, a well-established art gallery in London, sold photographs as early as the 1850s. Travel photographs were another early collectible. Many photographs were published in albums in the 19th Century, to be sold to institutions or wealthy private collectors. These early albums were precursors

There’s a lot of debate around NFTs as an evolution of fine art collecting, but with digital art. Can this really change the future of collecting art? Let’s try to grasp the various angles of the debate. The current frenzy for NFTs is the result of several factors, including a rise of interest in digital assets due to confinement and the use of computers to work and trade because of the global pandemic. Furthermore, an increase in financial markets over the last two years, to the value of leading cryptocurrencies including Bitcoin and Ether soaring to record highs and emerging transactions and important business with cryptocurrencies

Before the spike in the creation and sale of NFTs, authors faced limitations on the revenue that they could generate from their creative works. First of all, once a work of art was sold by a gallery to a collector or directly to a private owner it could be resold to another owner without the artist being aware of such a resale and void of any economic gain for the artist in question.  Secondly, digital artworks could be easily copied an infinite number of times and distributed throughout the internet, making it difficult for the creators to control, safeguard and

At the moment there’s a lot of talk about Blockchain technology. We are in a historical and transitory period in which this innovation is attracting a lot of attention. However, it is easy to remain quite stuck in a generalized confusion, between Cryptocurrencies, Bitcoin, Blockchain Platforms, Smart Contracts, NFTs, and so on. So let’s try and break it down. First of all, what is this technology for?  The Blockchain (literally “chain of blocks”) exploits the characteristics of a computer network of nodes and allows to manage and update, in a univocal and secure way, a register containing data and information