otismo

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otismo
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The Crazy Art World

Post by otismo » March 12th, 2021, 6:05 pm

dollars or crypto ?
dollars or crypto ?
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BARRON'S

How Non-Fungible Tokens Are Transforming the Art World
Published: March 12, 2021 at 3:38 p.m. ET
By John Scott Lewinski


A massive intersection between the worlds of art and cryptocurrency is redefining the concept of ownership in the digital age—all to the tune of millions in sales for savvy artists. The surge of non-fungible tokens (NFT) allows virtual images, and their original underlying code, to be sold as unique works of art, even if copies of those same images proliferate.

This evolution was evident Thursday, when a purely digital work of art by Mike Winkelmann, known as Beeple, sold for a record-breaking $69.3 million at a Christie’s online auction. It was the third most-expensive work of art sold by a living artist, and the most expensive digital asset to ever sell with a NFT.

The buyer of the work was revealed Friday as Metakovan, the pseudonymous founder of Metapurse, the world’s largest NFT fund. The buyer will receive both the image and the token, according to Christie’s.

The online world produces no shortage of art from photo edits to memes to animated GIFs. Meanwhile, any physical artwork—from drawings to paintings to photographs—can also exist as digital imagery. Once transformed to 1s and 0s, that artwork can proliferate throughout the internet and end up just a simple screen capture away from your computer.

A NFT, once assigned by an accepted blockchain clearinghouse, attaches to the digital artwork permanently and marks it as original, official, and unique. That NFT allows a buyer to own the artwork, even if copies of it exist on hard drives and servers around the planet.

In the last month, cryptocurrency NFTs sales have boomed throughout the art world. According to the ranking site CryptoSlam, the top five NFTs during that period generated more than US$366 million in profit. The boom has everyone from artists to academics exploring what it means to own something in a crypto world.

Marc Craig, successful London artist and curator of the Chopperchunky Gallery, sold more than 12 of his original pieces as NFTs in less than two weeks. He discovered this crypto market through online news articles, realizing the potential to create individual digital art pieces stamped as exclusive entities.

“There is a real sense that the pandemic is changing everything,” Craig says. “People are actively looking for ways to not only make money, but also to connect in the online world. The NFT art community is very vibrant and supportive, and I had no anxieties about getting started because it was easy to connect with the energy it’s creating.”

Craig describes an NFT world of unusual synchronicity. He sees artists who both sell their work as NFTs and also buy NFTs from other creators. He finds collectors who sell are becoming artists themselves. He tracks corporate entities funding the purchases of major NFT artwork.

In Los Angeles, artist and portrait photographer Justin Aversano creates his own work and collaborates with partner Nicole Buffett (Warren’s artist granddaughter). Through their individual and combined works, they sold more than 130 pieces in two weeks to the tune of more than $100,000. He describes the emerging NFT phenomenon growing from a sense of community.

“We help each other,” Aversano says. “Those of us who found success in NFT art look to bring in other artists and help them through encouragement and collaborations.”

For Aversano, one of the most unique aspects of selling through the blockchain world is the actual physical artifact outside the crypto environment is still in play even once its digital cousin sells. Artist and buyer can negotiate what’s to become of the real world creation. Artists sometimes include the original with the NFT, charge an additional fee for the object, sell the hardware piece to another buyer, or simply keep it.

“With NFTs, the physical work is actually a bonus,” Aversano says. “The buyers of NFTs don’t want stuff. They view ownership in an entirely new way.”

Deborah Small, a professor at the University of Pennsylvania Wharton School of Business disagrees, pointing out that the idea of owning an NFT isn’t that far removed from the concept of owning something in the material art world.

“The concept of art is much more than the experience of seeing it,” Small says. “You can go visit the Mona Lisa in the Louvre or buy it as a postcard—but, you don’t own the Mona Lisa. By purchasing an NFT, you buy the implicit knowledge that you’re closer to the art’s curator.”

Small suggests cryptocurrency investors buying NFTs are more akin to gamblers, making a buying decision on a different level than traditional investors.

“It’s a decision based on a consumption idea, not a business idea,” she says. “The cryptocurrency buyer perceives risk in a different way. It can seem strange to others because the NFT is virtual, but the buyer sees it, likes it, and buys it so he or she can feel closer to the artwork, the artist, and their peers.”

Dr. Carey K. Morewedge of the Boston University Questrom School of Business studies how cognitive processes influence human judgments and decisions. When considering why art buyers would spend millions purchasing NFTs for images they could pull off the internet for free, Morewedge looks at the concepts of control. At its simplest level, the non-fungible tokens allow buyers to take possession of the digital as they would otherwise seize on the physical at purchase.

“Our identity is expressed through what we own,” Morewedge says. “A buyer pays money for the NFT so they control that piece of art because we exert control over our world through ownership. The idea of making something uniquely your own is very powerful. It’s what’s called the ‘endowment effect’—we value what we own over the same thing we don’t own.”

Morewedge suggests that the early NFT sales bringing in seven figures exploded onto the scene due to their historical significance.

“The NFT is changing the perception of ownership through user-generated content,” Morewedge adds. “It could signal the start of redesigning how platforms are monetized by changing concepts of who owns the material—by determining ownership through blockchain and not governmental means.”

Back in London, Craig sees the NFT experience so far as a rollercoaster ride.

“I don’t see the market slowing—all thanks to the pandemic,” Craig adds. “The physical art world may need to play catch up out there.”

Aversano retained the material originals for some of his more recent NFT successes and hopes to gift them to a gallery or library for permanent display.




Captions :

On Thursday a purely digital work of art by Mike Winkelmann, known as Beeple, sold for a record-breaking $69.3 million at a Christie's online auction.

Beeple's "Everydays: The first 5000 days"



4:39 PM 3/12/2021


online CGoL.Art gallery
online CGoL.Art gallery
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"C'est la vie, c'est la guerre." Life is War
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N F T s & mediocraties

Post by otismo » March 14th, 2021, 2:10 am

NYT

What Are NFTs, Anyway? One Just Sold for $69 Million.
“Nonfungible tokens” and blockchain technology are taking the mainstream art world by storm, fetching huge prices. We explain, or try to.
A detail from Beeple’s “Everydays — The First 5000 Days,” a collage of digital images that was “minted” as a “nonfungible token,” or NFT, and sold for $69.3 million.

A detail from Beeple’s “Everydays — The First 5000 Days,” a collage of digital images that was “minted” as a “nonfungible token,” or NFT, and sold for $69.3 million.Credit...Christie's Images Ltd.

By Josie Thaddeus-Johns
March 11, 2021

The artist Mike Winkelmann, also known as Beeple, has just sold an NFT at a record-breaking $69.3 million, the third-highest price achieved by a living artist. The sale, at Christie’s, for the purely digital work was the strongest indication yet that NFTs, or “nonfungible tokens,” have taken the art market by storm, making the leap from specialist websites to premier auction houses. Beeple, a newcomer to the fine-art world who first heard about NFTs five months ago, is the most high-profile artist to profit off the huge boom in sales of these much hyped but poorly understood commodities.

If you’ve heard about them and want to know what the fuss is about, here’s a primer.

What is a “nonfungible token,” or NFT?
An NFT is an asset verified using blockchain technology, in which a network of computers records transactions and gives buyers proof of authenticity and ownership. The current boom is mostly for digital assets, including images, GIFs, songs or videos. Most importantly, NFTs make digital artworks unique, and therefore sellable.

Now, artists, musicians, influencers and sports franchises are using NFTs to monetize digital goods that have previously been cheap or free. The technology also responds to the art world’s need for authentication and provenance in an increasingly digital world, permanently linking a digital file to its creator.
ImageMike Winkelmann, the digital artist known as Beeple.

Mike Winkelmann, the digital artist known as Beeple. Credit...Scott Winkelmann/Agence France-Presse — Getty Images

Who was the seller? Was it the artist?
Winkelmann sold the artwork himself through Christie’s.

When did this become a thing?
The technology for NFTs has been around since the mid-2010s but hit the mainstream in late 2017 with CryptoKitties, a site that allowed people to buy and “breed” limited-edition digital cats with cryptocurrency.

Now, with the value of cryptocurrencies reaching record highs, some of the same investors who speculate on them are buying and trading NFTs, often for eye-popping prices. Beeple is the most high-profile artist to make a gigantic sale, but there are now plenty of illustrators, video and graphic artists selling work at high prices.
ImageChristie’s had earlier sold an NFT as part of Robert Alice’s “Block 21” from the series “Portraits of a Mind.”

Christie’s had earlier sold an NFT as part of Robert Alice’s “Block 21” from the series “Portraits of a Mind.”Credit...Christie's Images Ltd.

If I buy an NFT, do I own the art?
Sort of. The buyer of an NFT will not necessarily acquire a copyright, or even sole access to a work. (Many will remain available to anyone with an internet connection.) But some people are willing to pay, handsomely, to be able to claim ownership of the “verifiably real thing.”

In fact, the art world is familiar with this genre of sale. To take one example, anyone could duct tape a banana to the wall, but it wouldn’t be Maurizio Cattelan’s “Comedian.” Likewise, someone could easily make a digital copy of Beeple’s “Everydays — The First 5000 Days” by simply downloading it through their internet browser, but even though the content would be exactly the same, they wouldn’t own the artwork itself without blockchain verification.

How big is the market?
According to the NFT Report 2020, published by L’Atelier BNP Paribas and Nonfungible.com, the value of the NFT market grew by 299 percent in 2020, when it was valued at over $250 million. But the first few months of 2021 have already seen astonishing sales, even before this auction.

Was this the first NFT ever sold by Christie’s?
No. It was the first purely digital NFT. The first NFT the auction house sold was as part of a work of art in two parts that included a token and physical painting: Robert Alice’s “Block 21” from the series “Portraits of a Mind.”

But … is this art?
Beeple’s work has been compared to that of KAWS or Banksy, two other artists who have bypassed art-world gatekeepers to establish huge sale prices. But ultimately, NFTs are a technology used to authenticate an artwork; determining whether a work is art or not is up to the viewer. The technology can be used to authenticate other kinds of objects, too. Jack Dorsey, the co-founder and chief executive of Twitter, is currently selling his first tweet as an NFT in a timed charity auction. Bidding had reached $2.5 million by Thursday.

Erin Griffith contributed reporting.

Editors’ Picks

For Creators, Everything Is for Sale

A Pandemic-Driven Love Affair With All Things Vintage

How Do Silicon Valley Techies Celebrate Getting Rich in a Pandemic?

Continue reading the main story

NFT Mania Hits the Art World

Beeple Brings Crypto to Christie’s
Feb. 24, 2021

JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace
March 11, 2021

Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000
Feb. 22, 2021
Correction: March 12, 2021


An earlier version of this article and a picture caption with it mischaracterized the nonfungible token sold by Christie’s last year as part of Robert Alice’s “Block 21” from the series “Portraits of a Mind.” The token was part of the artwork; it did not authenticate the physical painting.


1:07 AM 3/14/2021
"C'est la vie, c'est la guerre." Life is War
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Leonardo Started It

Post by otismo » March 14th, 2021, 5:50 am

November 15, 2017

Salvator Mundi

sold for over $450 Million
got his fingers crossed
got his fingers crossed
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#CXRLE Pos=0,0
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ArtDeco DiGiClock

Post by otismo » March 14th, 2021, 9:58 am

time to monetize
time to monetize
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NEXT : The Christie's Estimate
"C'est la vie, c'est la guerre." Life is War
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C A versus Blockchain

Post by otismo » March 15th, 2021, 4:34 pm

aren't Cellular Automata better than Blockchain ?
"C'est la vie, c'est la guerre." Life is War
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Re: C A versus Blockchain

Post by Dylan Chen » March 15th, 2021, 6:57 pm

otismo wrote:
March 15th, 2021, 4:34 pm
aren't Cellular Automata better than Blockchain ?

yes, I hold the same opinion.

do you know there is a CGoL 'block chain' on github?

check here https://github.com/nialloc/GameOfLife/issues/1
Tools should not be the limit.
Whether your obstacle is a script, an stdin, or Linux environment computing resouces.
check New rules thread for help.

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Re: otismo

Post by otismo » April 10th, 2021, 5:19 pm

for Harry Potter fans :
Harry-Potter-MACH.rle
a bitmap printer
(2.5 MiB) Downloaded 16 times
"C'est la vie, c'est la guerre." Life is War
.....**
...****
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Code: Select all

#CXRLE Pos=0,0
x = 26, y = 34, rule = B3/S23
23bo$23bobo$23b2o9$2b3o2$o5bo$o5bo$o5bo2$2b3o5b2o$10b2o3$2b2o$2b2o10$
15b2o$15b2o!

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