Headlines
1. SuperRare.co – A Blockchain Platform for Artworks Trading
2. Artist Whose NFT Broke Auction Records ‘Dismissed’ NFTs Initially
3. Crypto Artists and Investors Trusts NFTs to Transform the Art Industry
Related Notes
SuperRare.co – A Blockchain Platform for Artworks Trading
Aug 05, 2020 – Martin Young, CoinTelegraph
Digital Art Trading Platform ‘SuperRare’ Sees Volume Increase 365%
- The digital art scene is becoming a hotbed of activity for non-fungible tokens*.
- Digital art marketplace ‘SuperRare’ has surpassed $1.6 million in cumulative trade volume as buyers become more comfortable with the concept of art sold as non-fungible tokens.
- The marketplace started the year with $344,000 in platform sales volume, but has seen that figure almost quadruple in seven months.
- Artists are able to digitally sign their work on the platform by creating a tokenized certificate before entering it into an online auction. Collectors can then purchase and resell works in secondary markets.
- The marketplace itself recently claimed that over 8,000 works had been sold on the platform, earning artists over $1.3 million and collectors over $430,000.
* A non-fungible token (NFT) is a specific type of digital asset where each token has a unique identifier.
Artist Whose NFT Broke Auction Records ‘Dismissed’ NFTs Initially
Aug 06, 2020 – Samuel Haig, CoinTelegraph
Trevor Jones, the artist who composed Picasso’s Bull — an NFT that sold for a record $55,555 on NIfty — originally thought that NFTs were destined to fail.
The art colleges and artists, commercial galleries and auction houses that don’t adapt to the new ways of creating, selling, investing in and displaying art will eventually become obsolete.
I see NFTs as a huge part of my future and the future of art and the art market in general. As the space grows and more sales like Picasso’s Bull occur the traditional art market will eventually catch on to the digital art market revolution.
Crypto Artists and Investors Trusts NFTs to Transform the Art Industry
Nifty Gateway, a leading marketplace for nonfungible tokens with the backing of the Winklevoss brothers, recorded its largest-valued auction to-date on July 23 when the digital artwork and NFT “Picasso’s Bull” sold for $55,555.55.
The milestone comes as benefits of
- fractionalized ownership,
- decentralized provenance verification, and
- the global liquidity pool enabled by blockchain technology
are enticing both art creators and investors to explore NFTs.
“Fractionalizing (offering “shares” in an artwork) is now possible, and I’ll soon be offering fractional ownership of my physical paintings through NFTs.” ~ Trevor Jones
Animated Digital Artwork video here: