Nowadays, many people are excited about adopting digital tokens on the blockchain. Crypto art has become popular not only as an asset class but also as a global cultural boom. The world has become digital and London has always been at the forefront of digitization. New York or Silicon Valley is the largest NFT market base for transactions. London plays a leading role in cultural works, validation and innovation mechanisms.
London became the capital of crypto art
In June 2021, Artist and Curator Robert Alice from London collaborated with Sotheby's. The partnership takes place on a digital platform called Natively Digital.
At the auction, Alice commented: "London has always had a strong support from curatorial artists. The city has also shown interest in institutional and grassroots digital arts projects. ”
Given the expanding influence of mainstream crypto companies in London, some artists, collectors and technologists have shown interest in promoting crypto assets in London. This is another reason why London is at the forefront of crypto art.
Rebecca Edwards is curator of the Arebyte Museum. The digital space is thriving due to the cuts in today's arts and culture, she said.
Rebecca said the younger generation of artists tends to turn their attention to other ways to sell their art in cryptocurrencies, NFTs and blockchain.
Founder and Creative Director Nimrod Vardi has been serving London-based nonprofit Arebyte for the past eight years. In his view, London's emerging tech arts provide an excellent platform for small organisations to react more flexibly and quickly.
Museums and auction houses across London are making huge profits from digital art and NFTs, and Christie's is contributing to employment in the city.
The Decentralized Arts Lab, Decal, is managed and owned by Furtherfield. Decal is considered a testament to the success of beginner, community-oriented organizations that drive blockchain into a growing ecosystem. Ruth Catlow, CEO of Decal, believes that Furtherfield provides a platform for critical and creative research into networking technologies.
Artist Re said, "Blockchain and other decentralized autonomous organizations seek to bring together a common denominator for art in the age of the web. ”
Bernadine Bröcker Wieder, founder and executive director of Vastari, who co-organized the first Christie's Art + Tech Summit, said: "The organization continues to advance these developments in 2022. Overall, these developments are negligible for the private sector. Serpentine's R&D platform, on the other hand, has been playing a leading role. ”
She also commented on traditional museum institutions that are inactive in crypto art trading. That has changed a lot since then. The British Museum is now trading NFT of more than 200 works by Japanese artist Hokusai.
Artists popularize the NFT platform
London-based gallery Unit London launched Institut – "the first art-led NFT platform". The British Museum has a partnership with French startup LaCollection, which will sell NFT of more than 200 works by Japanese artist Katsushika Hokusai.
Damien Hirst is a British artist, entrepreneur and art collector based in London. In 2020, he was reported as Britain's richest living artist. Damien is about to launch his 10,000 NFT collection at an exhibition. The exhibition will be part of the 2022 Frieze London Art Fair.
Joe Kennedy, one of Unit's institutional partners, said, "Delivering work to the physical space of a gallery is the best way to present NFTs. Now is the time for us to talk about moving from sales and commerce to art. ”
Robert Norton, co-founder and CEO of Verisart, sees London as a thriving cultural capital. According to him, London is now in a leading position and the city can take advantage of the development potential of NFTs, which can be achieved through appropriate collaboration between art and technology, fashion and music, which is highly interested in NFTs.
There is no doubt that London has witnessed and will witness a growing craze for digital collectibles.
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