Instead of an art book or high-tech product, how about gifting an artist NFT for Christmas? A gift for art lovers…
Since 2021, traditional artists have been investing in NFTs (Non Fungible Tokens), these unique digital identifiers linked to a digital file (image, video, etc.) that serve as certificates of ownership. So, why not offer – or offer yourself – artwork associated with an NFT at Christmas? Remember that art NFTs or Crypto art can be purchased in foreign currency with a bank card or in cryptocurrency through an electronic wallet (Crypto Wallet like Metamask for example) on specialized platforms.
Prices down sharply
The fall of cryptocurrencies, which has deflated the bubble surrounding NFTs, is a great opportunity, according to specialists, to acquire NFTs from previously inaccessible artists such as the series of pixelated flowers Murakami flowers launched by Takashi Murakami last May at the time of his exhibition “An Arrow through History” at the Gagosian Gallery in New York (sold between 1 and 100 Ether (ETH) on the Opensea platform). ” On the Sotheby’s Metaverse platform and on sothebys.com, NFT sales results are much lower than last year, with total dedicated sales falling from $9-10 million to an average of $1-2 million adds Sotheby’s NFT specialist Brian Beccafico.
” Falling prices are a sign of a maturing market. For example, this is the chance to get your hands on a work by the American artist Frank Stella at unbeatable prices in the traditional art market. Last September it launched a series of NFT Geometries, white virtual objects in 3D that the buyer has the right to color and print in 3D “, notes Fanny Lakoubay, advisor in Art crypto. Initially sold for 0.1 ETH, each digital token is now resold between 0.5 and 14 ETH on Opensea. ” Other conceptual works are of interest to established artists who have made the transition, such as Marina Abramović with The hero 25 FPS launched last July, offering to acquire a portion of the video of his iconic performance The hero of 2001,” she adds. Filmed in 25 frames seconds, the short was cut into 6,500 images linked to an NFT, which sold for £150 each on the Circa platform.
- Frank Stella, geometriesArsnl on Opensea
- Marina Abrahamovich, The hero 25 FPSApprox
Shared ownership of artworks
” The NFT makes it possible to freeze ephemeral art forms, such as a performance or a Street Art work, by allowing them to be marketed “, deciphers Benoit Couty, artistic director of the NFT Factory, a place dedicated to digital tokens inaugurated in Paris last October. This is how street artist Pascal Boyart “tokenized” a mural that was destined to disappear: The underground Sistine Chapel, a contemporary version of Michelangelo’s masterpiece, produced in 2020 in a former gold foundry on the outskirts of Paris. Each NFT of the 400 fresco characters of the Last judgement is sold on Opensea between 1.6 and 1000 ETH (for the Virgin Mary…), ushering in a new form of shared ownership of works of art.
- NFT factory, 137 rue Saint-Martin, 75004 Paris
- pascal board, The underground Sistine ChapelOpen sea
Lovers of traditional art will prefer a physical piece of art accompanied by its digital twin, such as the series Possible by Chinese artist Yang Jiechang which launched last October and combines ink calligraphy on paper and canvas with NFT digital editions selling for €2,000 on the laCollection.io platform in collaboration with Art and Tech advisory platform Aika and the magazine “Connaissance of Arts”.
Another original initiative the successful dialogue between the László Moholy-Nagy estate and generative artist Dmitri Cherniak, who developed an algorithm inspired by the Hungarian artist’s photograms to create 100 NFTs, completed with a silver gelatin print explains Brian Beccafico. Light years will be auctioned in reverse (from 70 to 10 ETH) on December 1, 2022.
NFT of Foundations
” An NFT with a physical twin is more difficult for buyers to understand because there is a value assignment problem. What is the original: the object or the NFT? warns Benoit Couty. With his project “The Currency”, the English artist Damien Hirst solved this dilemma by offering his collectors to keep one work on paper or the NFT and destroy the other. As for the Calder Foundation, it entrusted motion graphic designer Raoul Marks with the task of creating animations from five mobile phones by Alexander Calder (The Calder issue, sold for 10 ETH). Having Christmas stars – digital – in your eyes…