How far is NFT from contemporary art?

When most people think that various virtual currencies based on blockchain technology are bubbles, there is a small group of people whose assets have doubled hundreds or even thousands of times, thereby achieving financial freedom. The purse-packed blockchain industry leaders began to turn their attention to the art industry. As a result, in the first half of this year, just like landing on the beach, countless “world’s first (session)…encrypted art exhibition” exhibition projects opened at the opening ceremony…

NFT (Non-Fungible Token), a non-fungible token, has the characteristics of indivisible, irreplaceable, and unique. The primary factor for NFT and art to work together is that artwork is a non-standardized commodity in the trading market; secondly, the high prices of art auction market are hugely attractive to NFT commercial traders. Of course, the most important thing for NFT and the art industry to come together is based on the core commonality: the consensus of value recognition. And it is this seemingly simple “value identity” that is actually a huge gap in front of the general public. From traditional paintings, sculptures, antiques and other collections to today’s non-materialized digital art works, most people’s perception of “value identity” is diminishing. To give a simple example, a world famous painting, even if the general public cannot fully understand its artistic value, it will at least recognize its market value. If it is a photographic work, a video work, a digital art work, or a JPG image, most people may not understand why it can be worth tens of millions. Many people think that an NFT work can be downloaded and watched by right-clicking it from the Internet. Why is there anyone willing to buy it at an expensive price? Because NFT gives digital works a unique code on the public chain, which makes it different from ordinary images. To put it in rough terms, it is the same as if I spent 30 yuan on Taobao to buy a chicken drum cup of the same style as Liu Yiqian (at an auction price of 280 million yuan).

It is undeniable that 99% of the NFT art-related news we see so far are business activities driven by the blockchain industry. The buyer of the NFT work “Every Day: First 5000 Days” sold for 450 million yuan is MetaKovan, the founder of Metapurse, the world’s largest NFT fund company; Justin Sun spent $10.5 million to buy the NFT headshot Tpunks, his company TRON. The first NFT avatar project; is this kind of gameplay like a common hype in the art auction market? So what I have to add is that between NFT and art, there is not only value recognition, but also hype, and all kinds of fascinating, absurd and bizarre storytelling.

How far is NFT from contemporary art?

“Caixin Weekly” Photographer Ding Gang’s work (picture from the Internet)

How far is NFT from contemporary art?

Screenshot of the opensea page of the NFT trading website (picture from the Internet)

When looking at NFT and art-related news, a photograph by Caixin Weekly photographer Ding Gang was very eye-catching. He photographed a Tibetan woman carrying a mining machine. The power cord in her hand looked like a bunch of flowers. Immediately after the news websites of various blockchain industries reported that this work was re-created and moved to Opensea in the form of NFT because it resembled the famous painting “Rice Gatherers”, and its highest price was 2021 ETH (about 60 million RMB) ). It was really surprising to see this news. I was curious to check the relevant data and showed that the highest bid price was indeed 2021ETH, and the only transaction price was 0.1ETH (about 3000RMB). It’s really eye-opening, and it’s a classic case of repaying money on the spot.

How far is NFT from contemporary art?

(The picture comes from the Internet)

At present, the most common and popular product on all major NFT art platforms is the NFT digital avatar that has repeatedly sold sky-high prices. Strictly speaking, I don’t think it should be summarized in the scope of art. It is actually closer to the application of NFT in the game field and the nature of NBA star cards. In the NFT trading platform, it is proclaimed that everyone can become a creator, and can easily and quickly purchase their favorite works of art directly from the artist; and the artist will get a certain percentage of shares for each transaction after the work is sold. This idealized description seems that everyone can become an artist, and it can protect the interests of the artist to the greatest extent. The reality is that based on the premise that the work is good, the creator is more of an image of a blogger who needs self-marketing; how to attract traffic, how to promote yourself, how to form your own fan circle becomes even more important than the artistic creation itself. . Taking 10,000 monkeys as an example to detonate the BAYC project of NFT, Taiwanese singer Huang Licheng, actor Wu Jianhao, Hong Kong movie star Shawn Yue, NBA star Curry and other stars have spent a lot of money to obtain an ape head portrait. In fact, the commercial operation of BAYC has evolved into the way of playing in the membership club. The NFT of an ape is the VIP card of the member, and is a status symbol for entering this circle. Its club members have membership rights including airdrops and getting peripherals. The smarter point of the project team is to authorize all the copyrights and usage rights of all apes to members of BAYC. Club members can make secondary creations based on the apes and even be used for commercial purposes, which makes BAYC’s brand influence rapidly fission. It can be predicted that BAYC has enough potential to develop into the world’s top trending brand. So now we can answer the question at the beginning of this paragraph, why are the NFT digital avatars so expensive? Because, if you want to build an NFT membership club, first of all, your club must be gimmicky or famous.

“Resolve the pain points of the authenticity of artworks with the traceability of the blockchain”, “re-establish the rules of the art market trading game”, and “maximize the interests of artists in a decentralized manner”. Similar rhetoric are the blockchain industry institutions. The pie drawn when entering the art industry to seek cooperation . I think many artists and art practitioners should have heard these words more or less when they were dragged to talk about NFT projects. Putting aside the tumultuous hype, let us return to art itself. Is there an art form that can be called “NFT art”?

First of all, the works we see on NFT art trading platforms such as OpenSea, Cryptovoxels , SuperRare, etc. are just uploading and casting of works in various media, and not only after the birth of the concept of NFT. Secondly, the current NFT works by big-name artists in the field of contemporary art basically transform existing works into digital works, which are just the transformation of the medium. In the creative process, new technological forms are not used to germinate new concepts and creations. . So from the current point of view, the combination of NFT and art has not formed a new art form. “NFT art” is just a general term that facilitates commercial operations. Blockchain technology and NFT provide more of a new collection method, a dematerialized collection method that can clearly see each transaction and the ownership of the work. To put it bluntly, most of the so-called NFT art on the chain is actually a new type of financial product. However, some domestic platforms that claim to be NFT art do not even mint coins on the public chain and cannot perform secondary transactions. They are all pseudo-NFTs for cutting leeks.

Continue to ask, what other possibilities are there for the combination of blockchain, NFT and art? AsyncArt’s “First Suppe” (The First Suppe) provides some clues to the foreseeable future of art. This digital artwork is not completed by one person. It consists of 22 layers. Each layer can be modified by different creators and become an independent NFT. Perhaps in the near future, programmable art forms based on blockchain technology and art forms based on big data algorithms will bring new possibilities to NFT art. From the current point of view, the easiest thing to achieve is to greatly improve the collection of photography, video, new media, and installation works through the combination of NFT and AR\VR technology. Simply put, NFT photography and video works on the chain can no longer be collected in physical form, and there is no need to give a paper collection certificate signed by the artist. In terms of advanced scenarios, in the past, many installations and spatial field works could only be collected in the form of manuscripts. The combination of NFT and AR\VR technology allows collectors to face more than just a flat sketch. It is a collection that can be experienced at any time with the help of technical equipment. (For example: the room and space works of the German artist Gregor Schneider, which require the audience to walk around and discover in the room to complete the work. Of course, there are many classics, but they are fleeting Cases of contemporary art works that are difficult to preserve).

Although it has only been a few months since the popular NFT art exhibition in the first half of 2021, many blockchain organizations have shifted their perspective from NFT art to the more popular NFT game recently. After all, games have more Extensive consumer base and application scenarios. For the new generation of Internet aborigines, the pleasure of buying skins and props by recharging games, watching the live broadcast and brushing rockets for the anchor is not nothing, it is real happiness; the younger generation who grows up with the Internet can Very freely to shuttle between the virtual world and the real world. In comparison, NFT art is inevitably a bit blunt in the acceptance of the public. The middle-aged and elderly people must be dubious to try to understand the value consensus recognized in the blockchain world. In fact, there is no need to rush to deny the virtual world, nor to force oneself to embrace things beyond cognition. Technology related to lifestyle and consumption scenes is the easiest to popularize. Metaverse will inevitably enter our daily lives in a way that is most acceptable to the public.

Thinking about the future in the primary stage of Metaverse, NFT and art must not be a simple combination. The changes in blockchain and encrypted network technology, VR and human-computer interaction technology are bound to bring about a series of chain reactions. Although we have no way of judging what the specific format will be, what is certain is that various technologies, application methods, and scenarios will surely generate zero new gameplay together when the meta-universe era arrives.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-far-is-nft-from-contemporary-art/
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