Digital Art

Can anyone get their head around this, I am not sure I can yet??

Sotheby’s sold this digital art piece, a JPG file for $69M

JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace

Amazing

 

Non fungible tokens are how artists this day in the digital age can ensure they get paid for their original works, and not copied and re-copied infinite times on the internet and not receive anything for their intellectual property and creativity.

It also lends support for Ethereum and other blockchains that support NFTs, as it is very much in its infancy and the layperson does not understand any of it. See the amount of people calling cryptocurrency a ponzi scheme for instance (on a property investment board no less - the hypocrisy evades them?!) This at least lends support to a use case that people may understand - artworks.

 

you might want to read this @MTR

NFTs: crypto grifters try to scam artists, again

 

I definitely don’t understand this, another language for me

 

I have been following developments in the NFT space with interest. The craze has dialled down a notch from a couple of months ago.

Despite owning crypto, including Ethereum, I had not owned any NFTs until I discovered Yat (Yat // own your emojis).

I am pretty excited by the possibilities in this form of digital art as it is aiming to provide real utility rather than just being something pretty to look at.

Yats are basically a string of 1-5 emojis which create a unique username that you can use as a link page for now (similar to Linktree), but will soon be able to use to receive payments and other functionality (you will be able to mint them as NFTs on Ethereum from the end of July). I am seeing people use them as individuals and for businesses, along with having a collectability factor. It is still in beta phase, but if it takes off, there is an opportunity like the early web to sit on some attractive emoji strings similar to those who bought .com domains.

It sounds a bit silly on the surface, but if you consider how popular emojis are across multiple generations and the stories that people can tell with a 5 character string of emojis, there are a lot of possibilities.

The downsides to considering them as an investment:

• Each one is unique, so could be tedious to list and sell each one
• You have to have some creative nous to buy something that others will like and pay more for in the future (there are a number of trends forming within the 'Yat Community' if you follow the Discord link below)
• They may not take-off and you're stuck with them

The upsides to considering them as an investment:

• Entry prices are very low (from US$4)
• They are currently purchasable directly through the website with a credit card, so no special crypto knowledge required
• Anyone I have introduced these to has 'got it' and become an addict (I can see the viral potential once it breaks into the mainstream and functionality increases)
• Opera (browser) just announced they are integrating Yats natively in the browser (e.g. just type the emoji string into the address bar in place of a URL)
• A number of music artists and celebrities are starting to get on the trend early (e.g. Paris Hilton for one), but they are not widely known about
• Yats will be defined by their Generation and we are in Generation Zero until the end of June, this will create scarcity for the Yats created now once we move to Gen 1

It's worth having a look and if you want to skip the wait list, you can join their Discord server and follow the prompts to message their bot: Yat Chat (discord.com)

 

Now I have seen it all..... pardon the pun

An Italian Artist Auctioned Off an ‘Invisible Sculpture’ for $18,300. It’s Made Literally of Nothing | Artnet News

 

Digital Art when I was a kid

 

A bit like the duct-taped banana that sold for $120,000

 

So there is hope for me

 

Well, cryptopunks were also auctioned at Christie's.

The top sale was $7.5M
CryptoPunks

 

Still a class above the soiled nappies

Conceptual art: why a bag of rubbish is not just a load of garbage

My niece makes more money selling her digital art online than she did working as a pharmacy nurse ... I don't get it either, as she simply twigs free online images

 

Like I said. We have reached peak stupidity. And here we are worried about the COVID pandemic when we should be worried about the stupidity pandemic sweeping the world.

 

There is definitely some stupidity wrapped up in what is happening with digital art, but I think many are yet to realise that digital art is also the future.

Will the children growing up on an iPad today have the same appreciation for oil on canvas painting as past generations or will they have a digital display on their wall which cycles through crypto-provably scarce digital graphics. I would put a lot of money on the latter.

Is some of the ridiculous pieces being sold digitally really more stupid than beanie babies, Pokemon / baseball cards, or old folks collecting some other useless trinket, from porcelain to cars, where buying the object is more about the feeling it brings than practical utility?

 

You are right. The stupidity isn’t limited to digital art or digital currency. Stupidity all round.

I am all for a nice piece of art on a wall. But for me nice doesn’t have to be expensive. The most expensive art in the world has no visual appeal to me. What’s on the canvas has to appeal to me not the price of it.

So would I place a piece of digital art on my wall. Sure. But I’m not paying stupid amounts of money for it. I am copying it digitally for free and putting it up.

 

I was at the museum of contemporary art some time ago and one exhibit was literally a white canvas. As white as an A4 sheet of paper. And folks were staring at it as if it was something magnificent. I turned to my partner and whispered "nut jobs". She looked at me surprised and said "what, don't you see it?", with a serious face. An awkward silence for 3 seconds...then we both giggled.

 

Digital art has been around since computers first started and i guess it used to be called wallpaper art. Just google Wallpaper Art and you will find some absolutely amazing pieces.

Still a ton of sites around that do that were you get to see the art with a Watermark on it but if you buy it you get the actual wallpaper without the Watermark but it's different to NFT as anyone can own a copy.

 

The digital art isn’t the problem. It’s the stupidity surrounding it right now. Yes digital wall paper art has been around for a long time. Expect no one was paying millions of dollars for a digital wallpaper with the hope the next idiot would pay you even more for it.

 

My favourite piece of art is one of daughter’s paintings she completed when she was 16 yo which I have framed.

 

$11.8m. Crypto punk

'CryptoPunk' NFT sells for $11.8 million at Sotheby's