What is blockchain art

Inevitably, a book about NFTs, blockchain technology and cryptocurrency could not be completely of-the-moment upon completion. Record-breaking sales for NFTs and the value of cryptocurrency are ever changing. Illustrated with NFTs and photos of digital-savvy personalities like Takashi Murakami and Steve Aoki, the page-turner highlights the rise of NFTs, digital artwork and blockchain technology. Beckman repeatedly reminds readers that they cannot be altered, copied or forged, and the risk of theft is next to nil.

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Content:

• Blockchain certificates of authenticity for art professionals
• NFT blockchain drives surge in digital art auctions
• Build a custom email digest by following topics, people, and firms published on JD Supra.
• Can NFTs empower artists and democratise the art industry?
• NFT 101: Your Guide to Understanding the Wacky World of Blockchain and Crypto Art
• Programming As Art: How Blockchain Can Help Artists (And Save Art)
• Explained: The rising popularity of Blockchain Art
• Three Times Three Modes of Blockchain Art
• What is an NFT and how does it work? The ‘bitcoin for art’ explained
• Crypto-art goes mainstream: A guide to blockchain, NFTs & Co.

WATCH RELATED VIDEO: What is Crypto Art? A basic explanation.

Blockchain certificates of authenticity for art professionals

Pat, I keep hearing references to cryptoart which are all very … cryptic. What is this thing? Hey Lucy! Cryptoart is a way of making digital art unique, and therefore — according to some people — valuable.

Normally, digital art is very easy to replicate due to the very nature of digital information. So cryptoart is a way of making digital files one-of-a-kind. Think of it like a unique ID number assigned to the art. Whenever an NFT transaction occurs — buying, selling, giving, whatever — the data is timestamped and then has to be validated across the entire blockchain, which contains a history of every transaction ever made with that specific NFT.

To put it another way, the blockchain verifies that there is only ever one account capable of owning the NFT at a given time.

If I sell Picasso. If the original artwork and all the copies are exactly the same, where is the value? How much are these artworks being sold for? Well, think about it this way: anyone can buy a fairly perfect print of the Mona Lisa — good enough for most human eyes, anyway — but only one person or institution has the original.

Value, as with beauty, is in the eye of the beholder: what something is worth is what someone is willing to pay for it. And cryptoart, like normal art, varies wildly in price — from the tens of dollars, to the thousands , to the millions. And a single crypto marketplace, of which there are many, submits thousands of transactions every single day. The validation process is a huge part of the issue, yeah. To simplify greatly, the way to check a new transaction is valid is by ensuring that every block before it in the chain is accurate, which is done by solving a mathematical puzzle relating to its encryption.

Because of this incentive, massive amounts of computing power around the world are being put towards mining, even if much of it all the wrong guesses is technically wasted. And all those computers need electricity. This mining seems bad. Is there any discussion around how to offset the energy use? Crypto-enthusiasts are aware that the environmental cost is one of several major criticisms of the tech as it stands, so there are a few methods in play to try to reduce the damage.

The first is changing the validation model from one where everyone is racing for a single solution to one where select users are algorithmically chosen to do the work, which should drastically reduce the amount of computer power required for the record keeping. Other solutions include more traditional offsetting, such as planting trees, or trading carbon credits often verified by blockchain, funnily enough , but these have their downsides.

It depends on your preferences — there are loads of different genres out there, though at a glance the market seems largely dominated by glitch art. One of the positives about cryptoart is that it makes various forms of art that are harder to sell under traditional value schemes, like motion graphics or interactive displays, actually viable to produce for individual artists. And you could hang it on your wall, for real — though probably in a digital frame or suchlike, for the motion-based ones.

You can see a pretty good random sampling here , alongside a rough estimate of the ecological costs of putting the piece on the blockchain. I think. What is cryptoart, how much does it cost and can you hang it on your wall? A unique version of the widely distributed image was made using blockchain.

Photograph: YouTube. This is going to get technical, so bear with me. What is GameStop, where do the memes come in, and who is winning or losing?

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NFT blockchain drives surge in digital art auctions

Beyond vaulting the creator, a digital artist known as Beeple , into the Most Expensive Living Artists Club right behind Hockney and Koons , the sale made history because the piece, an NFT, is the first of its kind to be moved through an old-school auction house. Over the last several weeks, that term — NFT — has become as unavoidable as it is confounding, as sales in crypto art have boomed, making people millionaires in as much time as it takes to scarf down a grilled cheese. There's the story of an artist from Thunder Bay, Ont. Maybe a friend of a friend won't stop bragging about the bucks they made flipping NBA Top Shop packs.

Build a custom email digest by following topics, people, and firms published on JD Supra.

And it was artist Michael Winkelmann, better known as Beeple, who lit the blue touchpaper in March. NFTs are the artsy sister of bitcoin , with which it shares blockchain technology. To demur was to be left behind. Blockchain art became the coolest thing since American pop artist James Rosenquist painted sliced bread in All you needed was a computer and an internet connection. Amid the frenzy, an original Banksy was burned so that it could live on solely in the digital realm. The print was called Morons. Out with the Old Masters, in with the new.

Can NFTs empower artists and democratise the art industry?

Earlier this month, 18 interested buyers got into a bidding war for a large, gray disk engraved and painted with , digits of code. It's a little more than 4 feet across, features a karat gold leaf and comes with something the legendary Christie's auction house had never sold before: a piece of digital code that tracks the artwork's location. The piece of code is what's known as a nonfungible token NFT , which uses a blockchain in this case the Ethereum blockchain to create a unique identifier that can be tracked. It's one of the many applications of blockchain technology, which uses shared computing power to create secure and almost unhackable digital ledgers.

NFT 101: Your Guide to Understanding the Wacky World of Blockchain and Crypto Art

This is where simple, efficient, and accessible art tagging and collections management meets unlocked financial value and trust. Register or confirm an artwork's unique identity with an adhesive, tamper-evident, NFC-enabled Certificate of Authenticity that timestamps and writes its data to a secure, blockchain-powered database. Trace the history and provenance of a work's ownership back to the original artist or owner through a secure, aggregated record of provenance. Improve collection management and oversight by directly connecting to your artwork. Explore alternative fundraising models or assign artist royalties to collect on sales when ownership is transferred.

Programming As Art: How Blockchain Can Help Artists (And Save Art)

An award-winning NFT minting and certification platform helping creators do business since I've been expecting you. Hyperdimensional Attractions - Hibernation. Ghosts in the Machine - bitGANg Artificial Convergent Evolution. Minting Service.

Explained: The rising popularity of Blockchain Art

J ust a few months ago, Jazmine Boykins was posting her artwork online for free. But Boykins has recently been selling the same pieces for thousands of dollars each, thanks to an emerging technology upending the rules of digital ownership: NFTs, or non-fungible tokens. NFTs—digital tokens tied to assets that can be bought, sold and traded—are enabling artists like Boykins to profit from their work more easily than ever. TIME is now accepting cryptocurrency for subscriptions to time.

Three Times Three Modes of Blockchain Art

The challenge is to obtain reliable information on the successive owners of a work and the certainty that the latter is not a forgery. In this area, the use of a new technology such as blockchain would represent a real breakthrough. Professionals, galleries, auction houses, museums and art market experts can now easily register on the Blockchain the works of art they sell, exhibit or evaluate on behalf of their clients. Professionals can use the blockchain to record information on their transactions and their dates and to file documents of probative value generated by their activities. In the event of a dispute, it is advisable to retrieve the fingerprint of the document concerned from the blockchain, apply the fingerprint calculation with the same cryptographic algorithm on the archived document and compare the 2 blockchain fingerprints obtained.

What is an NFT and how does it work? The ‘bitcoin for art’ explained

Book launch, drinks reception, and discussion. The book features a range of newly commissioned essays, fictions, illustration and art documentation exploring what the blockchain should and could mean for our collective futures. This event features talks and conversation by contributors and editors of the publication, and an opportunity to be among the first to purchase the unique print edition. Artists Re:Thinking The Blockchain Imagined as a future-artefact of a time before the blockchain changed the world, and a protocol by which a community of thinkers can transform what that future might be, Artists Re:Thinking The Blockchain acts as a gathering and focusing of contemporary ideas surrounding this still largely mythical technology. Along with a print edition, Artists Re:Thinking the Blockchain includes a web-based project in partnership with Design Informatics at University of Edinburgh: Finbook is an interface where readers and bots can trade on the value of chapters included in the book. As such it imagines a new regime for cultural value under blockchain conditions. Available from Liverpool University Press, order copies here.

Crypto-art goes mainstream: A guide to blockchain, NFTs & Co.

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. And by the time we all thought we sort of knew what the deal was, the founder of Twitter put an autographed tweet up for sale as an NFT. Right, sorry.