Yuga Labs’ collections remain crowd favorites with the Bored Ape Yacht Club (BAYC) and CryptoPunks commanding almost 50% of NFT market capitalization. Fred Hsu, CEO of ClubID, a membership platform for web3 communities, backed the brands position. This was around the same time generative art profile picture projects like Bored Ape Yacht Club began catching steam as well, overlapping many of the same collectors of Art Blocks. Its popularity seemed to hit a crescendo in March 2021, and the attention was magnified by Tyler Hobb’s release of the Fidenza collection on Art Blocks. The NFT market is showing signs of recovery after enduring a brutal downturn in 2022. In 2021, Art Blocks blew past 100 million in sales volume, spread around a global base of over 9,000 collectors and traders. The program was inaugurated in November 2022, with CryptoPunk #305 being donated to the Institute of Contemporary Art, Miami. Earlier this month, Yuga Labs donated CryptoPunk #110 to France’s Centre Pompidou as part of its Punks legacy project. Leading figures in the NFT space have been attempting to bridge the digital and traditional art worlds through such endeavours. “The term NFT has a stigma attached to it, so we’ve stepped away from it,” de’ Medici told ARTnews in an interview.
The gift is worth millions, as CryptoPunk #3831 alone was sold for $2.08M in July 2021 and received an eyewatering bid of $27.5M in December 2021.ĭe’ Medici and LACMA have deliberately refrained from using the term NFT. The bequest includes CryptoPunk #3831 from Larva Labs, Woman n☀01 by Yam Karkai and Ringers #962 from Dmitri Cherniak, and spans all the major genres, including generative art, 1/1, book, video, AI, 3D, sculpture and photography.
de’ Medici hopes their donation will raise awareness of digital art, as the collection will now be displayed alongside works by legendary artists like Rembrandt, Picasso and Monet. Coreana Museum of Art/Cha Hyun Seok A makeup technique known as CV Dazzle, first pioneered by the artist Adam Harvey, uses fashion to combat facial recognition. The works were created by 13 international artists between 20, and the donation marks the first time that a distinguished museum has accepted an endowment of digital art from a private collector, according to de’ Medici. You pick a style that you like, pay for the work, and a randomly generated version of the content is created by an algorithm and sent to your Ethereum account. NFT Collector Donates Prized On-Chain Art To Museumīequest Includes CryptoPunk, Art Blocks and World of WomenĬozomo de’ Medici, a pseudonymous NFT collector and longtime supporter of on-chain art, has donated 22 prominent artworks to the Los Angeles County Museum of Art (LACMA). Art Blocks is a first-of-its-kind platform focused on genuinely programmable, on-demand generative content that is stored immutably on the Ethereum Blockchain. by Art Blocks Editorial Since founding Art Blocks in 2020, artist Erick Calderon (a.k.a.
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