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.
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?
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.
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: https://flash---art.com/2021/02/episode-v-towards-a-new-ecology-of-crypto-art/
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
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.
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
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)
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:
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.
mograph.social is a Mastodon server for the motion design community. VFX artists, 3D artists, animators, designers and illustrators with an interest in moving images are all welcome.