Let’s be clear here: we’re good with anything that puts more money straight into the pockets of performers, especially those who are still in the midst of the intimidating process of finding the audience that will finally give them the level of worship they have. they surely deserve. So the concept of NFT (non-fungible token) generally looks good: create unique digital works / versions of your existing works and sell them to art lovers / collectors to own them in this digital form. In other words, it is a work of art that exists entirely in the virtual realm, and only the buyer has access to it.
As we now know, alas, everything has gotten a bit crazy over the past ten months, and a work of the artist Beeple finally sold for the mind-boggling sum of $ 69 million to Christie’s in March. It all sounds very exciting, until we stop to consider the downsides of this new medium, one of which is actually quite serious. First, the extremely volatile market: NFT’s weekly sales plunged from over $ 170 million in May to around $ 8 million in June. But more worryingly, just as the hype peaked in May, Wired published an article titled, NFTs are hot. Their effect on Earth’s climate too – who expressed urgent concern about the enormous amount of energy it takes to produce them.
Questions like this tend to sort themselves out – and a less power-hungry version will surely be designed, just as surely as smartphones have replaced flip phones. And 2021 will likely continue to be the year of the NFT – especially since it has started its crossover into other areas of our lives. Namely, the great cultural galvanizer that is the Dreaming about Hollywood The hotel has just partnered with the New York-based Crypt Gallery to launch an NFT art exhibition, the first of its kind, titled The Crypt Gallery at Dream Hollywood (it is true that we could have chosen a more âlife-changing eventâ title).
For those unfamiliar with it, Crypt has become one of the most ardent cultivators of digital art culture, acting as a true incubator for burgeoning and more established talent. And since its debut with great fanfare in 2017, the first West Coast Dream hotel has sought to partner with such contemporary-defining entities and has established itself as a place where new ideas are nurtured and cultivated.
The show is organized by the still somewhat mysterious King of Midtown – today one of the most notable champions of digital art – and draws from his private collection, as well as that of 33, who remains a completely anonymous collector. Works included are from both well-known – Brendan North, Chad Knight, Nessgraphics, Jason Seife, Robbie Trevino – and lesser-known artists including Yo Brilly, Lana Denina, Tillavision, and Lefty Out There. But perhaps more importantly, the subject matter and stylistic diversity confirms that digital art is boasting and expanding ever more … which is surely essential to its rise and maintenance in the continuing evolution of art. contemporary.
âThe collaboration between Dream Hollywood and The Crypt Gallery is rooted in the same qualities that make our two brands so unique and inspiring,â observes Dream GM Vaughn Davis, âa shared love, respect and genuine curiosity for innovation, creativity and autonomy. -expression. For connoisseurs of NFT, avid art collectors and even new fans of the medium, this exhibit is both provocative and informative. When a state-of-the-art physical gallery space merges with powerful digital collectors like King of Midtown and 33, the magic happens.
This magic will be on display at the hotel until the end of November, before heading to Dream Downtown NYC – where it will take us to a 2022 that surely has plenty of surprises in store for the NFT art market. Stay tuned.