Artists news-Page 8
Buyers shell out $7M for unseen NFT collection
Nonfungible token (NFT) investors have poured $7 million into a Dutch auction that sold 50 tokens conferring ownership over digital artworks that will not be minted until December. Tyler Hobbs, the artist behind the popular NFT series “Fidenza,” will launch 100 one-a-kind digital artworks in his latest collection “Incomplete Control” at the New York City-based Bright Moments gallery from Dec. 9 to Dec. 13. On Friday, Hobbs’ fans contributed 1,800 Ether (ETH) (worth more than $7 million) in exchange for 50 of 100 “Golden Tokens” that grant its holder ownership rights to one of the artworks slated to be minted …
Artists / Oct. 25, 2021
We haven’t even begun to tap into the potential of NFTs
Earlier this summer, CNN and The New York Times each warned that the nonfungible token (NFT) bubble, fueled by buzz over eye-popping valuations for digital art and interest from collectors, might already be bursting. As the sixth employee at a social media startup called Wildfire — which was acquired by Google in 2012 — I’m all too familiar with skeptics and precautionary tales when it comes to new and emerging technologies. Based on my experiences across entertainment, licensing and blockchain technology, I contend that if the so-called NFT bubble is bursting, it could be a net positive for the future …
Music / Oct. 24, 2021
NFTs of empowered women aim to drive female engagement in crypto
The market for nonfungible token, or NFT, digital artwork is taking on the traditional art industry. Within the first six months of 2021, analytics firm DappRadar recorded $2.5 billion in NFT sales, showing a major increase from the $13.7 million in sales during the same time period in 2020. Christie's auction house reported $93.2 million in NFT sales during the first half of 2021. In addition to impressive sales, the NFT marketplace OpenSea, which reportedly hosts 98% of the entire market’s transactions, registered $4 billion in NFT trading volume during August this year. While the rise of blockchain-based digital artwork …
Adoption / Oct. 19, 2021
Fidenza artist slams knock-off NFT project from ‘honest pirates’ on Solana
Tyler Hobbs, the artist behind the popular generative nonfungible token (NFT) series “Fidenza,” has slammed a Solana-based project for utilizing his code to produce knock-off artworks without his approval. The “Fidenza” series is a curated drop of 999 NFTs on Art Blocks, an Ethereum-based platform that creates and hosts tokenized computer-generated artworks. Hobbs wrote code that generates unique art pieces, using the randomized transaction hash of the buyer’s transaction as input. Hobbs sold the 999 works originally for $400,000 and has since made more than $4 million in commissions as they were sold on. Now his code has been used …
Artists / Sept. 16, 2021
NFT potential takes quantum leap with Koii Network’s new Dynamic NFT standard
In April of this year, an anonymous buyer purchased a copy of Action Comics #1 for $3,250,000 USD — the highest figure on record for a vintage comic book. Published in 1938 and featuring the first-ever appearance of Superman, the comic is one of the last known copies in existence. Prior to the auction, it was graded by the Certified Guaranty Company, or CGC, using a 10-point system, where it received a near-perfect score. Any legitimate copy of Action Comics #1 would have been worth a decent sum of money, but this particular book out-sold all others because its physical …
Artists / Sept. 14, 2021
iHeartMedia plans NFT giveaway ahead of major music festival
Mass media holding company iHeartMedia is planning to distribute free nonfungible tokens, or NFTs, in partnership with sustainable NFT platform OneOf — a campaign that could introduce more music lovers to digital collectibles. The campaign is intended to promote the 2021 iHeartRadio Music Festival in Las Vegas, which will take place Sept. 17 to 18. Beginning on Tuesday, users can claim one free NFT “poker chip” on the OneOf platform. Up to 1 million tokens are claimable through Sept. 14. Users who collect an entire set are eligible to receive a limited edition NFT by artist Cory Van Lew. As …
Music / Aug. 31, 2021
Hot July at Christie’s: Over $93M in NFT sales and Art+Tech Summit 2021
Christie’s upscale building located in New York City’s Rockefeller Center, Midtown Manhattan. The organizers were exhibiting a 3D frame, which allows a hologram of oneself to be remotely projected elsewhere, and discussing how animated interactive collectible cards will change over time based on the real-life performance of the displayed athletes. Galaxy Digital CEO Mike Novogratz, Canadian artist Mad Dog Jones, head of global marketing at TikTok Nick Tran, co-creator of CryptoPunks Matt Hall, co-founder of Tezos Kathleen Breitman and president of TIME Keith Grossman — all movers and shakers in the art and tech space gathered (some of them virtually) …
Adoption / Aug. 5, 2021
UN chooses NFT marketplace host in efforts to fight climate change
The United Nations has selected blockchain platform Unique Network to run a nonfungible token (NFT) initiative in the effort to inspire others to take action against climate change. According to a Tuesday announcement, Unique will be the lead technology partner for a program from the UN’s Human Settlement Programme and International Association for the Advancement of Innovative Approaches to Global Challenges, which will mint young artists’ work as NFTs. The program, called Digital Art for Climate Action Empowerment, or DigitalArt4Climate, encourages creators to showcase artwork inspiring people to work toward finding better solutions for the environment. “The United Nations has …
Artists / Aug. 3, 2021
NFT marketplace that's built for artists reports blockbuster sales for first week
A new artist-focused NFT trading platform has unveiled a $20 million fund to help artists tokenize and sell their works. In the first week since launch, Revival NFT Marketplace has exploded in popularity, achieving total weekly transaction volumes of $1 million. The first artist to be featured on Revival was Edison Zhang, a well-known Chinese street artist, muralist, and graphic designer. The NFT of his artwork Crowded sold for 255 million LOL tokens — equivalent to $71,135. Another, The Beauty and Pain of Pangolin, sold for almost one million IOST. The IOST-powered Revival NFT platform has been built to be …
Artists / July 28, 2021
Nonfungible tokens from a legal perspective
A nonfungible token (NFT) can be both a representation of a physical or digital asset that only exists on the internet — a programmable piece of art. It provides ownership of an underlying asset, like a painting, and it can also represent a digital asset in the form of a software code. Therefore, I like to conceptualize NFTs in a more technical view: “An NFT is a pattern of smart contracts that provides a standardized way of verifying who owns an NFT, and a standardized way of ‘moving’ nonfungible digital assets.” Before discussing the legality of an NFT, it is …
Copyrights / July 23, 2021
Damien Hirst’s ‘Currency’ NFT drop more than 6x oversubscribed
Leading contemporary artist Damien Hirst’s nonfungible token (NFT) drop dubbed “The Currency” has been oversubscribed by more than six times. The NFT drop consists of 10,000 unique colorful dot pattern artworks with a corresponding NFT for each piece. Applications for the NFT drop closed on Thursday, and Heni Group, which hosted the sale, revealed that 32,472 people applied for a total of 67,023 NFTs. That means many applications will either be scaled back or unsuccessful, given there are only 10,000 NFTs available. Many collectors will now have to seek out the NFTs on secondary markets. Applications have closed for @hirst_official's …
Artists / July 22, 2021
Sophisticated NFT marketplace and gallery offers digital real estate for creators and collectors
A new NFT marketplace and gallery offers a refined twist — delivering style, sophistication and a social element that allows people to bond over their shared love of digital assets. Musée delivers a platform for crypto art creators and collectors with 10,000 plots, and each one is an NFT that reflects full ownership and control of that digital real estate asset. These plots can be purchased and used to mount crypto artwork and collectibles, which can then be purchased by Musée’s visitors. The project’s homepage greets users with an at-a-glance look at all of the plots that are occupied — …
Artists / July 20, 2021