Is NFT the disruptor that digital art needs?
3 years, 5 months ago

Is NFT the disruptor that digital art needs?

Live Mint  

On 11 March, a work of art was auctioned for more than $69 million —and the furore it created wasn’t just due to the price tag. ‘The Arrival’, a work by Vimal Chandran It’s a new world, with a different currency, new terms, new collectors, new issues to address—even a new definition of the “artist”. According to the Christie’s spokesperson, the auction house has seen more “traditional” collectors becoming interested in the NFT market as well as an uptick in new collectors from the crypto art community. “Right now the hysteria around NFTs is primarily because of the mind-boggling numbers which have captured the world’s imagination,” says Arvind Vijaymohan, chief executive, Artery India, an art market intelligence firm. “I think it’s better to be the first to get into that space,” says Das, who bought The Arrival, part of mixed-media artist Vimal Chandran’s Folk SciFi series, for a value of $1,844.8 last month.

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History of this topic

Lisa Ray’s new NFT platform promises to be your art sherpa
1 year, 10 months ago

Lisa Ray’s new NFT platform promises to be your art sherpa

Live Mint  

Lisa Ray’s tryst with art is not entirely new. In January, she co-founded TheUpsideSpace, a curator-led digital art and NFT platform, with Singapore-based art collector and philanthropist Ayesha Khan to focus on art from South-East Asia, South Asia and the Middle East. But when you plough through all that and dig deeper, this technology has the potential to correct a …

NFTs In Web3: What A Decentralised Future Holds For Gaming, Art, More
2 years, 3 months ago

NFTs In Web3: What A Decentralised Future Holds For Gaming, Art, More

ABP News  

New-age technologies that are witnessed today are transforming the world in several domains. With the digital transformation of the internet, Web3 is going to bring a steady state of data ownership for the common people and there will be several marketplaces where artists could present their NFTs. As the internet will be decentralised at several levels, the owners won’t have …

When technology marries creativity
2 years, 4 months ago

When technology marries creativity

Deccan Chronicle  

“When bankers gather for dinner, they discuss art. NFTs on art works are the equivalent of attestation – they are digital certificates from the artist saying, ‘This work has been created by me and accompanies the artwork.’ Artists who want to sell their work as NFTs must first register with a marketplace before “minting” digital tokens by uploading and validating …

Should Creators Consider Selling Their Art Online As NFTs?
2 years, 6 months ago

Should Creators Consider Selling Their Art Online As NFTs?

ABP News  

Non-fungible tokens, or NFTs, have been taking the world by storm, offering creators a unique and arguably better way to monetise their work. That can be an NFT that you can sell.” He added, “Now, suppose you create another drawing of an apple that looks similar but has an additional leaf at the top, then that would become another NFT.” …

Why digital art and NFT stood out at the India Art Fair
2 years, 7 months ago

Why digital art and NFT stood out at the India Art Fair

Firstpost  

Even the least refined layman is familiar with the signature brush strokes of Dutch painter Vincent Van Gogh. Explaining the magic behind this digital art titled ‘Between.Today’, professional computer hacker turned creative technologist Hasan says, “Once the viewer stands at the designated spot, the camera captures images, which are transmitted to the computer placed behind the cabinet. Today, this included …

Aparajita Jain is democratising art through technology
2 years, 7 months ago

Aparajita Jain is democratising art through technology

Live Mint  

In 2018, a novel exhibition at the Delhi-based Nature Morte displayed art made in collaboration between man and machine. “We would have been way behind the curve if we didn’t come up with a plan to democratise art using technology, hence the decision to look at NFTs,” she says. Her son, for instance, doesn’t find the art she curates at …

NFTs Don’t Work the Way You Might Think They Do
2 years, 9 months ago

NFTs Don’t Work the Way You Might Think They Do

Wired  

It’s been impossible to avoid hearing about NFTs in recent months. The extremely technical nature of how NFTs, blockchains, and cryptocurrencies work means that it’s easy to simplify the explanation of the tech to the point of being misleading. NFTs Aren’t Authoritative Tokens of Ownership The most persistent misleading claim about NFTs is also the one that’s closest to being …

NFTs aren't art — they're just the Cult of Crypto's latest scam
2 years, 10 months ago

NFTs aren't art — they're just the Cult of Crypto's latest scam

Salon  

"If it looks like a scam, it's probably a scam." But also there's a lot of cases where those narratives aren't entirely trustworthy because people who get involved have an incentive to perform successfully because that's culturally ingrained into it and ties back to a lot of just general finance industry narratives of like: "Success comes to those who are …

Art frauds on the rise on NFT platforms
2 years, 10 months ago

Art frauds on the rise on NFT platforms

Live Mint  

Prasad Bhat, a Bengaluru-based caricature artist who frequently lists his artwork as non-fungible tokens, is unable to hide his distress. To encourage more artists to mint NFTs, OpenSea has a tool called Lazy Minting, which doesn't require them to pay a gas fee--a one-time fee charged for creating NFT on a blockchain. According to Huzefa Motiwala, director, systems engineering, India …

Are there reasons to be wary of music NFTs ?
2 years, 10 months ago

Are there reasons to be wary of music NFTs ?

Live Mint  

If you work in or adjacent to the music industry, it has become impossible to go a day without someone singing breathless paeans to the glorious future that awaits us thanks to non-fungible tokens and the coming crypto revolution. Swarathma released audio rarities, merchandise, live experiences and exclusive animated artwork as part of an NFT collection That last promise—as well …

NFTs to offline shows: How 2021 marked a turning point for India’s post-COVID art world
2 years, 11 months ago

NFTs to offline shows: How 2021 marked a turning point for India’s post-COVID art world

The Hindu  

“The pandemic has been very productive for the reinvention of the art space,” says Myna Mukherjee, co-curator of Hub India: Maximum Minimum, a show that presented over 300 works of Indian gallerists, institutions and contemporary artists at Artissima 2021 in Turin, Italy, in November. “This is true for the domestic art market too.” India can look forward to the country’s …

What is an NFT and how does it work? The ‘bitcoin for art’ explained
3 years ago

What is an NFT and how does it work? The ‘bitcoin for art’ explained

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chris Torres, the artist who first created Nyan Cat, recently ‘minted’ a new GIF of the famous …

What are NFTs and why is Bollywood going gaga over them
3 years, 1 month ago

What are NFTs and why is Bollywood going gaga over them

India Today  

Many in India are only beginning to get a grasp on cryptocurrencies like Bitcoin and Dogecoin. Designer Manish Malhotra, actor Sunny Leone, Vishal Malhotra, music producers Ritviz and Nucleya, all seem to be carrying the torch for NFTs in India. What we can understand right now is what these NFTs are, what value they hold in the online world and …

NFTs supplant Rolexes and Lambos as the new digital savvy flex
3 years, 3 months ago

NFTs supplant Rolexes and Lambos as the new digital savvy flex

LA Times  

People look at an NFT by Ryoji Ikeda titled “A Single Number That Has 10,000,086 Digits” at Sotheby’s during a pre-auction viewing. “What is happening right now is the equivalent of me hearing that a major contemporary painter has sold something for millions of dollars and I, someone with no art skill or experience, say, ‘Well I guess I better …

What is NFT and Why it is Gaining Popularity
3 years, 4 months ago

What is NFT and Why it is Gaining Popularity

News 18  

In present times, there are plenty of cryptocurrencies like Bitcoin, Ethereum etc. In the digital world, NFTs are known for their quality of “one-of-a-kind” assets. The digital objects available on the internet like images, videos, music, text and even tweets, can be turned into an NFT through a unique process. They do it by creating a unique digital certificate and …

NFT | ART: Expanding the definition of ‘artist’
3 years, 5 months ago

NFT | ART: Expanding the definition of ‘artist’

The Hindu  

D elhi-based sculptor and artist Shovin Bhattacharjee, 45, has been creating digital art since 2002. Among the first Indians to list his work as an NFT, he says, “I have always faced the challenge of limited buyers because the notion still persists that digital art is not authentic art”. And as concerns about duplication and authenticity of digital art get …

Keen on the NFT art drops? It’s all about strategy, buyer knowledge and timing
3 years, 7 months ago

Keen on the NFT art drops? It’s all about strategy, buyer knowledge and timing

The Hindu  

“Let’s be honest, the NFT art world would not be having the trajectory it is, if Metakovan and Twobadour did not spend close to $70 million worth of crypto on Beeple’s Everydays: The First 5000 Days,” says Amrita Sethi, “That figure alone is enough for artists to start delving into the virtual NFT art space.” Amrita, having been a banker …

Sotheby’s CEO explains why NFTs are the future
3 years, 8 months ago

Sotheby’s CEO explains why NFTs are the future

CNN  

New York CNN Business — Despite what Pete Davidson’s rap spoof suggests, NFT isn’t just for crazy kids with cash to burn. The market for the unique digital collectibles remains volatile, but Sotheby’s has given the NFT space legitimacy. Stewart: NFTs really burst on to the mainstream consciousness over the last few months and i think there’s a lot of …

NFTs are suddenly everywhere, but they have some big problems
3 years, 8 months ago

NFTs are suddenly everywhere, but they have some big problems

CNN  

CNN Business — For several weeks, it’s been near impossible to exist on the internet without at least hearing a mention of NFTs. “The system will not work if simply the first person to mint an NFT for a digital asset gets acknowledged on the blockchain as its owner,” said Neil Daswani, co-director of Stanford University’s Advanced Security Certification Program. …

What is an NFT, and why does John Cleese want to sell you his for $69.3 million?
3 years, 8 months ago

What is an NFT, and why does John Cleese want to sell you his for $69.3 million?

Salon  

"Monty Python" actor John Cleese wants to sell you the Brooklyn Bridge. That's because an NFT is like a virtual trading card that comes "tagged" with digital proof of authorship and ownership. "Domain names, event tickets, in-game items, even handles on social networks like Twitter or Facebook, are all non-fungible digital assets," Devin Finzer, CEO of the NFT marketplace Open …

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes
3 years, 9 months ago

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes

News 18  

What is an NFT? The first NFT album was ‘Kings of Leon’s ‘When You See Yourself.’ After art and auction houses, news organizations and galleries So what really, really is an NFT? James Murphy, CEO of Future Fallout, writes that ‘just like a concert ticket symbolises the ownership of the space of a seat in the concert arena, and a …

'Big Short' investor Michael Burry shares quote slamming NFTs as 'magic beans' sold by 'crypto grifters'
3 years, 9 months ago

'Big Short' investor Michael Burry shares quote slamming NFTs as 'magic beans' sold by 'crypto grifters'

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. He recently changed his Twitter banner …

We bought an NFT. Here’s what we learned
3 years, 9 months ago

We bought an NFT. Here’s what we learned

CNN  

San Francisco CNN Business — As headlines about people bidding eye-watering sums on GIFs of Pop Tart cats, the first-ever tweet, a Kings of Leon album and other NFTs piled up over the last several weeks, the CNN Business team decided the best way to understand the craze would be to buy one ourselves. The perfect piece of digital art …

The Digital NFT Art Craze That's Earning Some Creators Millions
3 years, 9 months ago

The Digital NFT Art Craze That's Earning Some Creators Millions

Huff Post  

LOADING ERROR LOADING LONDON — A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. Why don’t we have property rights in the digital world?” Some NFT issuers give full copyrights to the buyer, though others do not. In December, the first extensive auction of his art brought in …

Buyer behind $69m record-breaking art sale revealed
3 years, 9 months ago

Buyer behind $69m record-breaking art sale revealed

CNN  

CNN — The buyer of a digital artwork sold for $69 million was named as a crypto asset investor known by the pseudonym “Metakovan,” auction house Christie’s confirmed on Friday. Chinese cryptocurrency creator Justin Sun revealed on Twitter that he was outbid on the artwork, having put down a final effective bid of $60 million, only to be “outbid by …

NFTs are setting the creative world alight. Are they also bad for the planet?
3 years, 9 months ago

NFTs are setting the creative world alight. Are they also bad for the planet?

ABC  

By this point, you've probably heard about NFTs — even if you still don't really understand them. But adding data to the blockchain — a process of running software that people call "mining" — requires a large amount of computing power. A Turkish digital artist with a PhD in artificial intelligence, he said that while not as bad as the …

Decoding the boom in visual art and NFTs
3 years, 9 months ago

Decoding the boom in visual art and NFTs

Hindustan Times  

On March 11, Christie’s auctioned a JPG file for $69 million, catapulting its creator – digital artist Mike Winkelmann, who goes by the name of Beeple, to instant worldwide fame. The auction house said in a tweet that the first purely digital artwork’s auction places Beeple among the top three most valuable living artists. This digital collage, titled Everydays: The …

Digital artist Beeple $US70m richer as NFT piece becomes first sold by major auction house
3 years, 9 months ago

Digital artist Beeple $US70m richer as NFT piece becomes first sold by major auction house

ABC  

An artist has netted $US70 million from the landmark sale of a digital artwork that does not exist in physical form. Key points: Mike Winkelmann, known as Beeple, has become one of the world's most profitable artists The artwork is in the form of a Non-Fungible Token, which is authenticated by a blockchain This piece of art is the first …

Burnt Banksy: All You Need to Know About NFTs and Why Some 'Morons' Torched an Artwork
3 years, 9 months ago

Burnt Banksy: All You Need to Know About NFTs and Why Some 'Morons' Torched an Artwork

News 18  

Ever heard of an artwork whose value increased after it complete destruction? The digitized artwork, created from the original 2006 Banksy artwork ‘Morons’, is an NFT – a Non-fungible token. The phenomenon recently became a rage after an anonymous group of crypto enthusiasts burnt down an original Banksy, valued at $95,000 when purchased, and instead of creating an NFT to …

$69 million for digital art? The NFT craze explained
3 years, 9 months ago

$69 million for digital art? The NFT craze explained

LA Times  

Before there was Beeple, there was William Shatner. Known as NFTs, such tokens have taken off in recent weeks in what’s either an ecologically destructive speculative bubble or a promising new funding model for art and media, depending on whom you ask. The NFT file doesn’t contain the digital piece of art, or the video clip, or the Shatner card …

How NFTs are fueling a digital art boom
3 years, 9 months ago

How NFTs are fueling a digital art boom

CNN  

Editor’s Note: This article was updated following the auction of Beeple’s “Everydays: The First 5000 days,” which sold for $69.3 million. But until now, people hadn’t figured out a good way to collect digital art – and NFTs allow you to do that,” Cock Foster said on a video call, adding that buying tokens is easier and “a lot more …

The tricky world of NFT art: Why a blockchain company burnt and completely digitised a Banksy piece
3 years, 9 months ago

The tricky world of NFT art: Why a blockchain company burnt and completely digitised a Banksy piece

Firstpost  

The company behind the stunt, called Injective Protocol, bought the screen print from a New York gallery. Understanding the answer requires us to delve into the tricky world of blockchain or “NFT” art. They argue if we have a piece of art and an NFT, then most people will consider the former the “real” art. To invert this they’ve decided …

NFTs Are Hot. So Is Their Effect on the Earth’s Climate
3 years, 9 months ago

NFTs Are Hot. So Is Their Effect on the Earth’s Climate

Wired  

Two years ago, Joanie Lemercier, a French artist known for his perception-bending light sculptures, took on a new role as a climate activist. The culprit was Lemercier’s first blockchain “drop.” The event involved the sale of six so-called nonfungible tokens, or NFTs, which took the form of short videos inspired by the concept of platonic solids. But with an NFT, …

NFTs Are a Collective Hallucination—So What?
3 years, 9 months ago

NFTs Are a Collective Hallucination—So What?

Wired  

Have you had a shot yet? Eventually, the winner paid $3,666,666 in US dollars for what 3Lau called “the first tokenized album.” Bidder 65 now has unique access to the song, which others one day might hear for free. Currently, Christie’s is auctioning digital work by the artist Beeple, whose pieces look like Lucien Freud designing for Pokémon. That was …

What the Heck Are NFTs, and Why Are Grimes, Lindsay Lohan, and the Guy Who Made Nyan Cat Selling Them?
54 years, 11 months ago

What the Heck Are NFTs, and Why Are Grimes, Lindsay Lohan, and the Guy Who Made Nyan Cat Selling Them?

Slate  

You know Nyan Cat? Take the art that Grimes sold: The digital images and short videos she put up for sale—and which went for prices as high as $389,000—are freely available on the web, so you don’t really have to “own” anything to view and appreciate the art, nor did buying one get you something like a canvas or other …

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art
3 years, 9 months ago

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art

Wired  

It started with CryptoKitties. Each image was associated with a unique string of digits—a cryptocurrency “non-fungible token,” or NFT—that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty. Its end point is an auction that started on Thursday, in which a token associated with a digital collage of 5,000 …

Remember Nyan Cat? A Rare Digital Gif Version of It Just Sold For $500,000
3 years, 10 months ago

Remember Nyan Cat? A Rare Digital Gif Version of It Just Sold For $500,000

News 18  

Who would have thought that an animated flying cat leaving a rainbow trail would become the next big thing at auction? The creator of the “Nyan Cat” recently offered a one-of-a-kind version of his viral GIF on Foundation, a website for buying and selling digital goods. Digital art enthusiasts and cat lovers engaged in a bidding war which ended when …

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