PARIS, March 1, 2022 /PRNewswire/ — It’s been a year since NFTs took the Art Market by storm with media help from major auction houses, first Christie’s, then Sotheby’s and Phillips. . Some galleries quickly wanted to try it and some, like the Pace Gallery, went so far as to develop their own platform. Most of them, however, still prefer to wait a bit, even though their artists already have great ideas and some have even embarked on the adventure.
thierry Ehrmann, President and Founder of Artmarket.com and its Artprice department: “
The temptation is great for artists to test the new NFT market, driven by dizzying growth and offering all sorts of openings on fashion, music, video games, etc. However, this universe is governed by its own codes: to succeed in it, it is necessary to be able to build a real digital project, bring together a community of collectors, write smart contracts, master drops, etc.
“.
Many of these logistical tasks normally fall to a gallery, but so far they have been handled by the artists themselves and their teams, with varying degrees of success.
Big names in Contemporary Art
Follower of collaborations with major brands, the Japanese artist
Takashi Murakami
has worked over the last few months with the RTFKT studio, recently acquired by Nike: “
I felt that I could learn a lot about the metaverse with these young
“. At the end of March 2021, Murakami had posted 108 flowers on the OpenSea platform but took them down a few days later. With his new collaboration with RTFKT and having been able to rework his works as well as his smart contracts, he is in the process of making a new drop of his Murakami.Flowers.
https://murakamiflowers.kaikaikiki.com/
Urs Fischer
has also released a collection of NFTs in the spring of 2021. Asked by the Wall Street Journal, its gallery owner Larry Gagosian for his part said he wanted to take the time to explore the challenges of NFT technology before marketing it. Meanwhile,
Damien Hirst
has also launched a collection of NFTs, called
Tea
Currency
. In the footsteps of
Andy Warhol
(of which five digital creations were auctioned by Christie’s in the form of NFTs in May 2021), Damien Hirst has thus created 10,000 works on the border between unique creations and an interchangeable investment, thus questioning the non-fungible aspect of NFTs: “Q
when art changes and becomes a currency, and when a currency becomes art
“.
https://opensea.io/collection/thecurrency
A step ahead for street art culture
Accustomed to working with but also without the assistance of their gallery, urban artists are a little better equipped to make their way through the jungle of NFTs. Most of them evolve under pseudonyms and began to work in the shadows, often during the night, while their works were only discovered at dawn, before traveling around the world on social networks. So many ways to do that we find with NFTs.
Portuguese
Vils
famous for his mural works, created by removing material with a chisel or explosives, is certainly one of those who best master digital codes. Very active on Twitter, Discord and Instagram, he already has around ten collections on the Nifty Gateway platform. His ephemeral creations thus find a second way of existing in the digital space. It is now possible to acquire videos of its explosions or the “detritus” that result.
Vhils also imagines using one of the very characteristics of NFTs, burn: an operation that consists of erasing the Blockchain contract and somehow echoes the artistic practice of the artist. ” AT
Through burning, NFTS holders from my previous drops can exchange them for new and rarer ones. This process allows collectors of my work to influence it, choosing which pieces survive and which perish.
» .
https://niftygateway.com/collections/vhilsdestroydrawing
Fail
and
Futura 2000
, two other street artists from the Danysz gallery, have also already minted tokens on the Nifty Gateway platform. This is also the case of
Shepard Fairey
of
D*Heads
,
of
Mr Doodle
or even of
Kenny Scharf
.
The innovators
Daniel Arsham
very early on saw the possibility of extending its universe into the Metaverse thanks to a collaboration with the SixN.Five studio. In May 2021, they jointly launched an Open Edition titled
Eroding and Reforming Bust of Rome (One Year):
671 NFTs have been minted for an introductory price of $1,500, while the bottom price is now at $4,900. Represented by the Perrotin gallery, Daniel Arsham has already produced six other series of NFTs in more or less rare editions, since the unique work
Eroding and Reforming Venus of Arles (72.6 Years),
up to an edition of 200 copies, called
Eroding and Reforming 356
.
https://niftygateway.com/profile/danielarsham/collections
Among the proposals of contemporary artists playing best the codes of NFTs, the project
RocketFactory
is undoubtedly the most remarkable. The artist
Tom Sachs
, represented by Thaddaeus Ropac Gallery, invented 1,000 rockets formed from three parts (nose cone, body and tail assembly) that can be purchased separately and recombined to create a complete rocket. This can then take off: the three parts are erased and replaced by a new rocket, while a real copy is made by Tom Sachs and sent into the air: “
The NFT of the complete rocket, its physical twin (if recovered) and the video documenting the launch form a Holy Trinity
“.
https://tomsachsrocketfactory.com/how-it-works
Despite the problems related to the security of collections in electronic wallets and the origin of NFTs on exchange platforms (starting with OpenSea), a growing number of contemporary artists see in NFT technology a tremendous opportunity to to bring to life a whole part of their work which could not be exchanged before and to invent new creations in the Metavers.
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