Blockchain – The Future of Art
Digital art is not emergent, what about crypto art? Collective and experiential trends dominate the art scene today, where blockchain plays the important role in fostering the art of tomorrow.
Virtual reality proved to be a great solution for social distancing during the worldwide lockdown, caused by the coronavirus outbreak. Crypto art projects are gaining more attention as blockchain conferences and art exhibitions were moved to the web space. A month earlier the VR platform Cryptovoxels hosted the Get Out While You Stay In crypto art gathering. So, what exactly is crypto art?
Crypto artists create pieces on and about blockchain. Decentralization, collectivism, privacy are common and current themes in the space. Supporting and developing the movement of sypherpunks, artists teach us about cryptocurrencies as a new form of money that serves as an exit point from the fiat monetary system the world is currently living in. But the topics of their creations go much further beyond economics and digital money. Blockchain solution empowers them to find new ways of representation of love, friendship, life, and everything that matters. Crypto art is visual, audible, tactile human-centric and interactive. The common creative tools include but not limited to blockchain itself, AI, 3D animation, and other digital solutions.
Artists monetize the content with NTF – non-fungible tokens. NTF is a special type of cryptographic tokens that represent something unique. ERC-721 on Ethereum blockchain is an intersection of the digital and physical world of gaming, art, events, music. Crypto art has become an investment with just as much potential as coins. The art on blockchain not only gives creators new opportunities, but also brings more people to the crypto community.
Nowadays platforms like the Blockchain Art Exchange and SuperRare allow artists to create collectibles from any digital or physical artwork. Buyers on their turns get confidence that their investments will be passed from generation to generation with the cutting edge technology that digitize artwork on blockchain. Art buyers have opportunity to buy pieces directly or invest in their favorite artist and profit every time he sells his creations.
French-based artist Ben Elliot blended his career achievements and cryptocurrency experience by tokenizing himself on Stellar blockchain. Ben Elliot Token (BET) is gaining value from the the market value of his artworks and is pegged to his own creative career. BET is designed as a decentralized cryptocurrency. Elliot calls the token an artwork itself, saying that he hopes that BET will become one of the few new forms of art that will change the industry.
The borders between art and technology have been erased long ago. Music industry has also found its application of blockchain. AI created tunes, digital sounds and Spotify, which, of course, changed the whole model from ownership to streaming. NFTs could be used as digital tickets, enabling access to artists’ music catalogs.
The free electronic dance music concert Dance Donate Decentralize (D3) has been organized by the Giving Block to benefit charities on the front lines of the Covid-19 pandemic. The concert featured some of the most popular EDM artists.
Digital and decentralized are powerful narratives in contemporary art that is gladly adopting blockchain, smart contracts, and cryptocurrencies. Crypto art is definitely something to keep an eye on in the nearest future.