Looking Outwards 2

Lately, I’ve been interested in NFTs and how they’ve changed the art market through generative digital art. NFTs are non-fungible tokens that resemble a piece of digital art (motion graphics, 3D models, video, illustration, etc) and are sold and traded with crypto — with one generative piece that sold for $7 million. Successful artists such as CryptoPunks and Pudgy Penguins have an artistic style that unifies their collection, yet are able to create thousands of unique works. Their work is generated by the blockchain to randomize appearances such as color and clothes: “NFT creators within the artificial intelligence generative art community are using algorithms and blockchain-based provenance to address issues of mercurial valuation and fraud” (Forbes). I am curious to see how long NFTs will last (whether they will be a fad or well integrated into the digital art market).

https://www.forbes.com/sites/leeorshimron/2021/09/08/the-nft-generative-art-movement-is-challenging-how-we-think-about-value/?sh=10cdb71578ae

https://opensea.io/