In 2006, when Edward Steichen’s 1904 photograph Pond-Moonlight sold for $2.9 million, setting a record at the time, just three prints of that image were known to exist in the world. All three were created with Steichen’s supervision, making them irreplaceable. Back then, it might have seemed inconceivable that art collectors would pay millions of… Continue reading How rarity and exclusivity impact the value of NFTs
Category: NFT
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How to price your NFTs
In 2017, the creative technologists at Larva Labs created a collection of 10,000 unique pixel-art characters. They then offered them to anyone with an Ethereum wallet, and they were quickly snatched up. Some were sold soon after, for around $30. But it wasn’t until 2021 that the project, CryptoPunks, would become a household name. In… Continue reading How to price your NFTs
Everything you need to know about DAOs
From high-profile art collecting funds to ambitious artist collectives, the world is abuzz with talk of decentralized autonomous organizations—or member-owned communities made possible by blockchain technology. For the uninitiated, a DAO is exactly what it sounds like: a group of people operating in service of a common goal without a centralized authority, such as a… Continue reading Everything you need to know about DAOs
Diving into the history of digital art
In 1985, Andy Warhol received an Amiga 1000 home computer, created by Commodore. At the launch, he was joined on stage by Debbie Harry and proceeded to draw her portrait using the then-new ProPaint software. He went on to create several digital drawings with the computer, including a Campbell’s soup can, but many of them… Continue reading Diving into the history of digital art
The 500px guide to understanding NFT and crypto buzzwords
As you might have heard, “NFT” was chosen as Collins Dictionary’s Word of the Year for 2021. The abbreviation for “non-fungible token,” a new kind of digital asset, has exploded in popularity, with everyone from blue-chip auction houses to emerging photographers talking about the next frontier for art in the age of the internet. Within… Continue reading The 500px guide to understanding NFT and crypto buzzwords
Are NFTs disrupting the fine art world?
In the past year, contemporary art auctions soared to $2.7 billion, according to research from Artprice, reaching an all-time high after the initial collapse of sales in the early days of the Covid crisis. The rebound can be attributed to a number of factors, including the emergence of NFTs, or “non-fungible tokens.” In March, 22… Continue reading Are NFTs disrupting the fine art world?
Meta considers minting and selling NFTs on Facebook and Instagram
The Social Media company Meta is apparently exploring the possibility of enabling users to make, showcase and sell NFTs from Facebook and Instagram in the near future. If this goes ahead, this would be possibly the first mainstream endorsement of NFTs. According to a Financial Times report, the plans are “at an early stage and… Continue reading Meta considers minting and selling NFTs on Facebook and Instagram
The importance of community in the NFT space
“I think ‘Fine Art’ is going to become an outdated term,” curator Iris Nevins tells us. “In many ways, it’s used to denote the difference between art that has been ‘approved’ by elitist institutions and art that is not. In the world of NFTs, institutional opinions don’t have the same level of power anymore. It’s… Continue reading The importance of community in the NFT space
What to consider when collecting NFTs: Appraisals and investments
In October 2020, an art collector named Pablo Rodriguez-Fraile bought a 10-second video art piece for $66,666.66. In February of 2021, he resold it for $6.6 million. You might not have heard of the artist who created the video a year ago, but chances are, you’ve heard of him since. By March, Mike Winkelmann, known… Continue reading What to consider when collecting NFTs: Appraisals and investments
How NFTs protect artists
In 2005, Dave Roth, an amateur photographer, snapped a picture of Zoë Roth, his four-year-old daughter, during a controlled fire in their neighborhood. In the background, a house was in flames; in the foreground was Zoë, a mischievous smile on her face. Dave entered the photo in a competition, and it won, but it would… Continue reading How NFTs protect artists