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What do you think about the crypto art scene?

I log in back into my Twitter account after a couple of years and what used to be a curated motion design feed it is now become a wild crypto art timeline.
I really like the whole concept behind the various blockchain technology applications. I love the fact that this could be a new dawn for the digital artists. But at the moment it looks a bit off.

Like there's a bunch of folks with loads of cryptocurrencies that just buy whatever because they can

There's a lot of hype for some and a lot of FOMO for all the others.

I can't help but think this is just a gigantic bubble at the moment. Some folks will get lucky and sell a few pieces for huge amounts and then it will all level off.

It's crazy also how the highest demand is for hyper realistic motion graphics pieces.

@mauro I haven't seen any of this. Is it specifically art market with a crypto link?

On that, it's interesting that the intangible object (like motion graphics) can become a piece of value. In the 70s, media (film) art gained value by printing limited tapes of the work. I can't really see how that works with reproducible digital work.

@ephemeral Walter Benjamin here would need to write a new book, indeed! :D

It is really a new era, but I'm afraid this whole crypto art market is bound to suffer a lot of the same issues as the actual art market.

Not trying to be the little marxist here but it's all still inside the capitalist economic system and mentality in lots of ways.

@Olm_e @ephemeral yes, this is a HUGE problem related to crypto art. Thanks for the articles!

@Olm_e

I'm reading these articles right now.

I've heard of the terrible ecological implications of the blockchain before but this is way crazier than I thought...

@ephemeral did you had a look a these articles?

@mauro I'll have a look later today - just on the move now.

Thanks @Olm_e for sharing. I'll have thoughts on this - the power usage of blockchain continues to worry me...

@ephemeral @mauro
I think the problem is not just about the power usage but also the "power structure" and it's pyramid shape, that lets rich people concentrate more and more their grasp on these ponzi systems. It's not "decentralized" if you look at who possess the coins and the farms, and the #crypto artists are playing in a game where they are just canon fodders in the hope to catch some coins while giving actual value to those blockchains that would otherwise be just speculative tools

@Olm_e @ephemeral I agree completely with this way of seeing it. It's also scary to read stuff like "if you don't see the value of it you are lucky because you don't need it", advocating for crypto currencies as a tool for people and organisations otherwise antagonised by governments and banks. Maybe with the right technology? I'm thinking something like Stellar network/ Lumens?

@Olm_e

Wow.

The structure of power of trade is borderline fraud of artists (nothing new there compared to the gallery world) along with the disparity in access, that is barely touched on in this but that @mauro rightly brings up.

The second shock is definitely the energy usage. The comparative tables are so upsetting and damning. While the author rightly admits their bias, they also go to great lengths to prove what a back-of-the-envelope calculation would have hinted at.

@Olm_e @mauro

In fact, on the point about power systems, this makes the 60-70% commission that galleries charge in London or New York seem fair.

@mauro @camelo003

Just following up hete with another post on this topic that expands on one shared earlier by @Olm_e and contains lots of good insight: flash---art.com/2021/02/episod

Via @w0bb1t

@ephemeral @mauro @camelo003 @w0bb1t

Interesting read/followup ... still reading it ...

a crypto-currency and system model of trusted network that should be looked at not seen there is duniter.org which is some kind of true decentralized (commons) PoS aka #P2P Proof-of-Living network of humans

a NFT = a comment on a block, it's possible with such/any/many #blockchain

but the #governance of #art #market, #socialnetworks and the #currencies are the questions IMHO

@Joanie
@OlivierAuber

@Olm_e @mauro @camelo003 @w0bb1t @Joanie @OlivierAuber

Interesting. Will check out duniter.org

Agreed re governance, especially in deregulated markets. But I see governance as so tied to international finance in other markets that the wider system can't be ignored. Again 90s art market is an example - the purchase of paintings became a way to move oil or pharma money around tax-free and present lobbyists as patrons of the arts.

@mauro No, I agree. And yes, the work of art in the age of digital reproduction has been written a few times, and still I don't think anyone has really "gotten" it. My own postgrad thesis was partly on this.

The art market had become so embroiled with oligarghs looking to move tax/ill-gotten money in the 90s and early 2000s I wonder if it will be similar with crypto.

@ephemeral @mauro

great topic, great insights.

perhaps it is an naive point of view, but I remembered the beginning of my studies, where the possibilities of the digital universe have just become accessible in the audiovisual medium and one of the pros was reproducibility without compromising quality. pretending to own a digital file sounds like a setback

@ephemeral @mauro

i'm curious to see how this technology will affect the aesthetics of motion graphics. music was once a more spontaneous art form before it could be registered in a media. Today, the rise of streaming makes artists prefer the recurrence of the release of singles rather than compilation into albums (just a few examples that i remembered)

@camelo003 @mauro both good points.

It makes me think about the career of Damien Hirst. I could have picked from a few articles but this one sums it up well:

theguardian.com/artanddesign/j

The crux is that Hirst realised, after years of "spectacle over art", that he doesn't know how to paint (and wishes he did).

The commercial art world is definitely like that. I know painters who have learned to repeat the same trick on canvas just to get paid. It's like a performance, but without any art.

@mauro
Sounds nice that you are surrounded by enthusiasts artists. Lucky you! Just do the research when you need to keep that sober outlook.

We think #bitcoin is an important base layer but it is not ideal for small payments and so its important to keep a level head and know that we might not be able to remove all the trust from #banking and #finance, but that their power to suck value from us will be severely diminished – it may even mean #publicBanking.

This itself is exciting.

1/2

@mauro

For us the #Renaissance will really kick in when people, see the role of #LibreSoftware and #LibreChips and decentralised services generally as the baseLayer for everything.

We are still keeping an ear out for things related to Layer 2 also, before we get too excited.

Where precisely is all this #cryptoArt?

@dsfgs it's mostly based on NFTs based on Ethereum. A couple of famous websited are superrare.co/ and niftygateway.com/

@mauro
Okay. Keep in mind that we see literally nothing of #movingArt/#animation related to that stuff. So #mographDotSocial may be producing a #siloEffect.

Four years ago #silo's and #MSM were pushing various #altCoins to distract and pollute the space. Many people got drawn into that.

If you don't mind us asking, how did you discover #mograph? Through university somehow?

@dsfgs I'm not sure I'm following you here...sorry...

@mauro
Oh sorry, you are talking about your #Twitter feed. Forget we asked that.

Yes, probably that phenomenon known as, (please excuse our language) #shitcoining, but that's without doing any research.

@dsfgs yeah doing research is always a must, especially of something you might despise for some ideological reasons.

@mauro
Lol yes. Research is sooo important.

We were initially like, "We need to ban this bitcoin thing" hahaha.

@dsfgs I'd love to believe in this Renaissance but what it really sounds to me is like another "this will be the year of Linux", I'm afraid

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