Follow Us digs deeper into high-quality information content closely to the world
What we want you to know is
Some collectors or artists who have emerged in the NFT market expect galleries to disappear in this wave of NFT markets, but honestly impossible, in fact, many "traditional" galleries have also invested in the field of NFTs. From an arts management perspective, what have NFTs changed in the past?
In 2020, NFTs exploded in the mainstream art world like a thunderclap on the ground, and as the epidemic directly burned into the public eye, TV news anchors introduced NFTs in a tone they were not sure of, and whether they were art circle bosses or roadside noodle stall owners, they talked about NFTs one by one.
At the same time, all kinds of NFTs mushroomed, art, music, movies, and even food worlds such as Jiang Zhencheng all stirred up the big fight, "Phanta Bear" released in the name of Jay Chou, Huang Mingzhi sold songs on the NFT platform, Adidas and Prada jointly issued NFTs as commodity passes, and era heroes such as Wong Kar-wai, Urs Fischer or Ryuichi Sakamoto also went to the sea to make a profit in the NFT market.
Welcome to the NFT world, where everything is available. Mortals in the NFT market take at least six hours a day to kill and kill, as a person who has no investment talent and no time to pay attention to the community, I can't teach the rules of NFT investment, I am more curious about what NFTs bring to the art industry? Or something to take away
The NFT did not weaken the art industry, but expanded it
Many believe that the development of NFTs will weaken the role of galleries and middlemen, because NFTs allow artists to have direct access to collectors, no longer being drawn, and collectors can profit from each resale of artists in the future.
However, instead of weakening the art industry, the NFT expanded it.
In the case of NFT's main digital art, it was actually difficult to monetize in the market in the past, and I had directly heard a famous domestic collector stand in front of Julian Rosefeldt's video art and complain that "it is just a film that breaks a million", there will be such an idea, not to mention the very popular generative art in the NFT market (Generative Art, generated through algorithms) will be questioned by many people about the reason for the high price.
In fact, generative art is not new at all, as early as the 1960s when artists first tried, but in the past few decades, in addition to being popular among niche creators, it is almost impossible to enter the mainstream market, and it is difficult for people to have a channel to buy and spread. Until the advent of NFTs changed the rules of the whole game.
Auction houses have smelled this wave of business opportunities for a long time, last March Christie's announced that they had a head start in this market through Beeple's $69 million sale, but according to the analysis, NFT actually pulled up the art market, in the past, auction houses tried their best to break into the young collector family group, but when they chose to launch the NFT crypto art auction, they skyrocketed.
In the case of two auctions, "78% of the clients who bid for NFT through Sotheby's were new customers, and more than half were under the age of 40." In Christie's NFT Crypto Art category, 75% of buyers are also participating in Christie's auctions for the first time, with an average age of 42 years."
In the process of NFT collection, these collectors also have the opportunity to set their sights on auction houses such as famous watches, red wine, contemporary art and other existing profitable items.
Is the gameplay of traditional art and NFT artwork that different?
Some collectors or artists who have emerged in the NFT market expect galleries to disappear in this wave of NFT markets, but honestly impossible.
Blue chip (generally referring to the largest or leading position) gallery has long been in the art industry, whether financial or network resources, so that they can drive into major international art museums or a national sovereign fund, to influence the curatorial or collection direction of the museum and fund, when they decide to invest in the NFT market, it will only allow more resources to enter strongly, and the artist or art plan will be more exaggerated and amazing.
In Taiwan, there are also some big galleries that are eager to try the NFT market, and it is interesting that their plans are more based on trend art and digital art, rather than replaying artists who have achieved success in the past and are hot in the circle of collectors.
What's more amazing is that the monopoly NFT galleries/fairs are also gradually emerging, they display NFT artworks in the real world with panels, and emphasize that their artists have also begun to create other media works related to digital creations, while displaying and displaying. Although I am still subtly puzzled by the hype in the media about this matter.
In fact, many artists have already sold NFTs through online and offline synchronous distribution, the most famous of which is the British artist Damien Hirst's "The Currency", he created 10,000 pieces of works, and all of them were mint into digital versions, forcing collectors to choose between physical and NFTs, if they chose physical, NFT will be burned (Burn), if the NFT version is selected, the physical version will be destroyed.
In fact, if you think about it, as a kind of relationship-building field, what is the necessity of NFT gallery/exposition in reality or to follow the traditional gallery/exposition form?
The greatest help of NFTs to digital art: it is easy to verify authenticity and better to get started
Carrie Eldridge, founder of the ATO Platform, which provides royalty asset management services to artists, galleries and NGOs, believes NFTs can solve the long-standing problems of the art industry. Indeed, on the surface, the depth of criticism of the art industry in the past is transparent on the blockchain, and we can easily track the price movement trend of works and analyze the behavior patterns of collectors.
On the other hand, although people often complain that it is easy to buy fakes in the NFT market, the problem of fake goods is also common in today's art market: antiques must rely on the scientific or stylistic analysis of experts, and contemporary art prays that the artist studio is willing to assist in certification (as a digression, Nara Yoshitomo has a limited-time dynamic on Instagram that features his anti-counterfeiting journey, which is quite wonderful).
In contrast, NFT copycats and misappropriation are not so threatening at present, especially the blockchain's proud encryption authentication and strong community power can make almost everything invisible. In other words, in the past, in traditional art, we relied on a lot of methods to verify authenticity, which was time-consuming and labor-intensive compared to the NFT market.
Although NFTs cannot replace physical objects, collectors and audiences currently show a strong love for touchable media, but we can feel the luster of a century-old Buddha statue shining under the rotation of the four seasons of sunshine, and at the same time enjoy the pure beauty of the meticulous setting and image expression behind an NFT work. More importantly, when the NFT pulls the art market out of a different style, as long as there is money in hand, art collection is no longer out of reach for ordinary people.
Pessimistic people think that NFTs are no different from the Dutch tulip boom of the 17th century, and that bubbles are coming, but I like a passage that Wang Xinren (Ah Chao) said in a discussion with desperate artists last October: At any time, there are people who shout that the market will collapse, but if you are willing to do your homework seriously and know which artists and plans are worthy of your faith, then you can try to enter. Good things don't bubble. (Part of the hot tweet is compiled from the thinkslens)
Forwarding and sharing is the biggest support for us After reading, please click "Watching"