The Next Big Thing for NFT’s
MLK Jr. Word Art NFT Collection, by Hans Fleurimont
Non Fungible Tokens (NFT) have become the trending new asset for all who have their finger on the pulse of what is next on the Blockchain. It seems as though NFT’s have hit the ground running as of recently, but they have been around since 2015, introduced at DEVCON1 in London. Since gaining more awareness in 2017 when it acquired its place as currency, the “cool kids” of NFTs have gone from courier cards to the still popular Cryptopunk’s, highly pixelated cartoon characters traded on the Ethereum blockchain. If you are on the blockchain it is close to impossible to have avoided the NFT trends. While NFTs are gaining more popularity, many face and yet fail to overcome the FOMO condition. The fear of missing out is real. NFTs have sold for millions of dollars and that dollar sign is not limited to any category of persons, including children.
New Kids On The Block Chain
When a twelve year old makes 6 million from drawing people with long necks, you can imagine the spike in interest. Nyla Hayes, creator of the long necked NFTs says that her art “stands for diversity” and is meant to help girls feel empowered about who they are. From 6 million dollar long necks to joining a surprisingly elite yacht club for apes, NFTS are building bridges between worlds physical and virtual.
The Bored Apes Yacht Club is a member’s only, exclusive collection of Apes in relatable poses, usually shown from the chest up. They are fun, colorful and some are a little weird, but art is subjective, right? The Bored Apes come in multiple variations. There are apes in birthday hats, cowboy hats, sailor hats, trucker hats, leopard skin and whatever you can imagine. These disinterested apes are captivating the NFT world, but with ten thousand variations of what looks like the same ape in a very extensive photo shoot hold our attentions? And with that, we enter the, what is “real art” conversation over what is becoming an oversaturated market.
Thousands of graphic and traditional fine artists have seen NFTs as an opportunity to expand the viewpoint of their art. The opportunity to diversify their audience can be huge with the reach of the virtual space. But the discussion of what is art when it comes to NFTs is becoming more widespread. The rising complaint is that some of these NFTs which are sold at such high-ticket price-points just are not art at all. Let’s not forget that art is personal and open for personal interpretation. What may be art to one, may be a confusing scribble of colors to another, but that does not mean it is not art. New art can take a while to catch on and the NFT, which can be art, music, sound or tweets, is causing people to rethink what can be considered fine art. If we ask Art Basel, Miami Beach the answer would be, yes, NFTs are absolutely art. At Art Basel they are showcasing modern, sophisticated art, and new aged materials, that include the presence of NFTs. You may not want to join a club of apes or the trendy but familiar looking Bored Bunny, but there is a space for the nuanced fine artist. NFTs may still be unfamiliar territory for many traditional artists, but the virtual space has literally given artists a whole new world to explore.
The Rising Tides
The NFT market is being flooded right now, but do not let that discourage your involvement. Imagine going to the grocery store and standing in the aisle to make a decision on what type of water to buy. There is PH balanced water, sparkling water, water infused with fruit essence, water that has been distilled, and then there are the artisan water brands with their interesting shapes and fun names. Companies imagine all kinds of ways to house their water. There is even a brand of black water that claims it was sourced from natural springs where volcanic rocks are present for filtering. The point is NFTs are much like being in that water aisle, only multiplying that by ten. This does not mean that your NFT will not be the next Beeple, who’s Everyday: First 5000 days sold for 69.3 million dollars or Cryptopunk #4156 that sold for 2,500 ETH (10 million), which many believe was the inspiration for the Bored Apes Yacht Club that has sold their Bored Ape #2087 for 769 ETH or $2.3 million. This means that there is a space for you. It doesn’t matter that someone has done it already, there is always room on the shelve for you to take part in this community, whether it is as a creator or as a collector.
The possibilities are endless, and much like bottled water there is a preferred brand for nearly every type of individual out there. Maybe you are not into apes, maybe something that more closely resembles what you associate with art is your thing, which could be anything from apes, to dots in a square. If you are not into punk rock primates or ambient dots check out some of these works as an intro to NFTs.
MLK Jr. Word Art #17
New Projects on The Horizon
Here are a few NFT artists that have decided to take on the challenge of entering this new space. Their work is thoughtful, meaningful, and on the blockchain.
Enrich your world with culture and history by checking out the MLK Jr. Word Art Collection by Hans Fleurimont. If you look closely you can read a published article within the face of the great orator. If the nuances of pop-art are your thing, take a look at Jesus Duque’s “Duke” and see his take on the evolution of entertainment with his work on Entertainment in the Old Days. Activism has always been at the forefront of artistic movements. “Monk Mafia” is using the power of good intentions, with a goal of using the NFT art to unite people against hate crimes directed toward the Asian community.