Non-fungible tokens (NFTs) may be sold at high-end public auctions and exhibited at art fairs, but much of the traditional art world remains vigilant against these digital assets.
A handful of NFT platforms are trying to change that through the curator’s attention to art, which simulates the structures familiar to participants in the traditional art world.
Almost a year ago, a peer-to-peer online marketplace led by former Christie’s and Sotheby’s art executives, LiveArt is the latest entrant to a new division called LiveArtX, a block based in EVG, Hong Kong in mid-March. Chain incubator and investor.
For example, to reach traditional players, LiveArtX provides a “white label suite” that galleries and museums can use to create their own branded NFT marketplaces, as well as a mechanism to facilitate the creation of artists’ NFTs. To do.
The Institute of Contemporary Art Miami (ICA Miami) will be the first company to use this platform to offer NFTs by artist Cory Van Lew, a 365-party fundraiser. NFT is born from a painting performance held at the annual museum event on April 9th. This event is held to support free and open access to “state-of-the-art contemporary art and ideas”. According to ICA Miami, three combinations of physical paintings and NFTs featuring pandemic-related themes will be sold to support the museum.
Another example of the art marketplace is Hong Kong-based TRLab, which, nearly a year later, was co-founded by current Christie executives to offer curated works by traditional digital artists. .. Super Rare was founded as art four years ago. A carefully selected platform for NFTs.
The art-based marketplace “can act as a gateway to the crypto world. This is a way to bring a hesitant art world into this space with something more familiar,” London-based data said. Underspetterson, founder and managing director of ArtTactic, said. And a research company.
LiveArtX’s goal is not only to accommodate artists and galleries, but also to blend traditional fine art with the world of NFTs by appealing to the natives of cryptocurrencies. These collectors have driven NFT growth into the mainstream, primarily through avatar generative art projects such as Bored Apes and World of Women, which collectors use as personal profiles throughout social media.
Boris Pevzner, Co-Founder and CEO of LiveArt, said:
The right balance is important to attract artists who normally deal with paintings, sculptures and other physical media, alongside their representative galleries and collectors who collect their work.
“There is a specific part of [NFT] It was very scary to the world of traditional art, “says Petterson. “Many artists and traditional artists think:’How to harmonize this model with the collection model, [with] It fosters artists in the long run and builds their reputation in markets that appear to be primarily reversing and profitable. “
The White Label Suite helps artists get support and exposure from the gallery and stay close to the audience they collect. Galleries and museums that use the LiveArtX platform to create their own marketplaces also have access to the wider LiveArtX community.
It’s a potentially huge audience. Last week, LiveArtX distributed $ 10,000 ART tokens, so-called utility tokens. This gives owners exclusive access to their role in art, event, and platform curation. Over 780,000 people have signed up for the chance to get randomly generated tokens. This token also provides owners with LiveArt Decentralized Autonomous Organization (DAO) membership and gives them a say in the governance of the site.
The first group of NFTs dropped on LiveArtX was by artist Gianni Arone, tagged with LOVE BEING. Alone’s difficult life story is the subject of HBO’s documentary, and according to LiveArt, his art is “one of the ways to create a fusion of references, a system of expression,” through LOVEBEING. .. ..
Collectors who purchase the three LOVE BEING character NFTs will also receive a unique physical print.
The token was created to serve the NFT platform, but Marisa Kayyem, a former Christie’s education director, now LiveArt’s chief curator and head of cryptocurrency efforts, finally tokens. The use of is said to permeate the LiveArt ecosystem of physical and digital sales.
“The possibilities are endless in the art world,” says Kayyem.
Petterson understands the hesitation of the traditional art world when approaching NFTs, but these digital assets are a way for artists, galleries, and other traditional participants to expand their audience. It states that it will be provided. He thinks this crypto-based world is a bit like social media. Social media has been avoided by many at the expense of creating a larger audience for work.
“I don’t know where this is heading, but sitting on the fence without doing anything could allow someone else to intervene to define the rules and be perceived as quality in the future. It means that we can define the criteria, “says Petterson.