William Sarradet and Brandon Zech discuss the rise of NFTs as online avatars, digital projects by Tom Sachs and Damien Hirst, and advertising’s infiltration of the metaverse.
“The crypto market has been driven by individuals and groups of people creating these things more or less themselves. And now is the time when celebrities and companies come in.”
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—Glasstire: Art Dirt: What are NFTs and how did one sell for $69 million?
—Glasstire: Contemporary Arts Museum Houston Launches NFT Project
—Glasstire: Sotheby’s Auctions Derrick Adams’ JAY-Z NFT
—Glasstire: Tom Sachs at the Nasher Sculpture Center
—Glasstire: Make your own Digital Art with this Beeple Generator
—The New Yorker: Why Bored Ape Avatars are Taking Over Twitter
—Reuters: Set of “Bored Ape” NFTs sells for $24.4 mln in Sotheby’s online auction
—Forbes: NFTs Of Cartoon Apes Sell For Over $24 Million In Sotheby’s Auction
—Artforum: Token Gesture: Tina Rivers Ryan on NFTs
—Medium: Tom Sachs: ROCKET FACTORY
—The Verge: Who’ll Make the Next Million-Dollar NFT?
—CNBC: Visa jumps into the NFT craze, buying a ‘CryptoPunk’ for $150,000
—The Block: NBA icon Stephen Curry buys Bored Ape NFT for $180,000
—The Drum: Can NFTs sell more Stella Artois? Brewer AB InBev thinks so
—Artnet News: Did Budweiser’s Tom Sachs Stunt Backfire? Is Damien Hirst’s Drake Cover Actually Good? + Other Questions I Have About Last Week’s Art News
—Artnet News: Damien Hirst’s NFT Initiative, Which Asks Buyers to Choose Between a Digital Token and IRL Art, Has Already Generated $25 Million
—The Hollywood Reporter: UTA Signs NFT Art Projects CryptoPunks, Meebits and Autoglyphs
—Artnet News: Simon Denny Is Selling an Intentionally Lackluster NFT to Benefit Institutions Crypto Collectors Typically Don’t Care About
—CNBC: The original ‘Doge’ meme sold as an NFT for $4 million–now you can own a piece of it for less than $1
Damien Hirst’s NFT currency project is also making an interesting point about freeports.
If all you’re doing with a piece of art is trading it , then storing pixels is way cheaper than storing/conservation/insurance for an actual painting.