Crypto art
Crypto art (also stylized as CryptoArt or Cryptoart) is a category of art related to blockchain technology.
Emerging as a niche genre of artistic work following the development of blockchain networks such as Bitcoin and Ethereum in the mid to late 2010s, crypto art quickly grew in popularity in large part because of the unprecedented ability afforded by the underlying technology for purely digital artworks to be bought, sold, or collected by anyone in a decentralized manner.[1]
Definition
While there isn't one agreed upon definition for the term, two common interpretations currently exist among crypto artists and their collectors. The first, regarding crypto-themed artworks, or those with subject matters focusing on the culture, politics, economics, or philosophy surrounding blockchain and cryptocurrency technology.[2] The second, and more popularized definition, includes digital artwork that is published directly onto a blockchain in the form of a non-fungible token (NFT), which makes the ownership, transfer, and sale of an artwork possible in a cryptographically secure and verifiable manner.[1][3]
However, confusion can often arise when attempting to formally define crypto art since gray areas and nuance make it somewhat difficult to do so.[4] For example, blockchain technology has also been used to publicly register and authenticate preexisting physical artworks to differentiate them from forgeries and verify their ownership via physical trackers or labels.[5][6] Whether or not such artworks could be classified as crypto art is unclear.
History
2014
Monegraph launches the first marketplace to register art on the Bitcoin blockchain.[7]
2015
Artist Sara Meyohas launches Bitchcoin in February, "a cryptocurrency for Buying Art and Investing in the Artist."[8]
Ascribe launches in June, using Bitcoin’s blockchain to help artists claim ownership of their work[9]
Verisart launches in July to "use the Blockchain to verify the authenticity of artworks" by building a worldwide authenticated ledger of works.[10]
2016
Rare Pepe's trading cards launch in October on the Bitcoin blockchain using Counterparty.[11][12][13]
2017
In May,[14] Curio Cards a digital trading cards game, launches on Ethereum.
In June,[15] CryptoPunks launches. As early implementations of NFT contracts on the Ethereum blockchain, CryptoPunks represent a limited set of 10,000 algorithmically generated, low-resolution, portrait-style, digital figures.[16]
In October,[17] DADA.nyc launches its first limited edition collection "Creeps and Weirdos" on Ethereum. [18] [19]
In November,[20] Cryptokitties launches. The online game of collecting, breeding and selling virtual cats in the form of NFTs on the Ethereum blockchain had recorded more than $1 million in transaction volume within a week.[21]
2018
In January,[22] Kittyhats launches, selling digital accesories for Cryptokitties, demonstrating the permissionless nature of NFTs.
In January 13th, the first Rare Art Fest (RareAF), an annual festival dedicated to crypto art, is held in New York City. Louis Parker held a Rare Pepe auction at the event, in which the "Homer Pepe" card, an NFT collectible featuring the image of a Pepe-styled rendition of Homer Simpson, sold for $39,200.[23][24]
In July, Christies's presents the first Art+Tech Summit in London dedicated to Blockchain. The event was organized by Elliot Safra and Anne Bracegirdle. It featured a panel discussion on digital art with Matt Hall from CryptoPunks, John Zettler, The R.A.R.E. Network and Judy Mam from DADA.nyc, moderated by Jason Bailey from Artnome.com.[25]
References
- ^ a b "How blockchain technology reached Christie's and changed the art world along the way". NBC News. Retrieved 2020-11-30.
- ^ Canellis, David (2018-08-06). "Welcome to the weirdly wonderful world of crypto-art". Hard Fork | The Next Web. Retrieved 2020-10-12.
- ^ Yurieff, Kaya (2018-02-14). "Crypto-artwork of a rose sells for record $1 million". CNNMoney. Retrieved 2020-11-30.
- ^ Haigney, Sophie (2018-06-05). "When Crypto Meets Conceptual Art, Things Get Weird (Published 2018)". The New York Times. ISSN 0362-4331. Retrieved 2020-12-23.
- ^ "Could Blockchain Put an End to Stolen Art Sales?". Observer. 2018-10-11. Retrieved 2020-12-23.
- ^ "Verisart Plans To Use The Blockchain To Verify The Authenticity Of Artworks". TechCrunch. Retrieved 2020-12-23.
- ^ Constine, Josh. "Monegraph Uses Bitcoin Tech So Internet Artists Can Establish "Original" Copies Of Their Work". TechCrunch.
- ^ Stinson, Liz. "BitchCoin: A New Cryptocurrency for Buying Art and Investing in the Artist". Wired.
- ^ Abhimanyu, Ghoshal. "Ascribe is using Bitcoin's blockchain to help artists claim ownership of their work". TheNextWeb.
- ^ Butcher, Mike. "Verisart Plans To Use The Blockchain To Verify The Authenticity Of Artworks". TechCrunch.
- ^ Hathaway, Jay. "The Rare Pepe economy is real, and there's serious money behind it". Daily Dot.
- ^ Roeder, Oliver. "People Are Paying Thousands Of Dollars To Own Pictures Of Pepe The Frog". Fivethirtyeight.com.
- ^ Signoret, Perrine. "La culture Web joue à la Bourse sur le « marché aux mèmes". Le Monde.
- ^ "transaction hash". Etherscan. May 16, 2017.
- ^ "transaction hash". Etherscan. June 22, 2017.
- ^ Abbruzzese, Jason. "This ethereum-based project could change how we think about digital art". Mashable.
- ^ "transaction hash". Etherscan. October 5, 2017.
- ^ Roeder, Oliver. "The Blockchain Is Just Another Way To Make Art All About Money". fivethirtyeight.com.
- ^ Bailey, Jason. "The Blockchain Art Market Is Here". Artnome.
- ^ "transaction hash". Etherscan. November 23, 2017.
- ^ Tepper, Fitz. "People have spent over $1M buying virtual cats on the Ethereum blockchain". TechCrunch.
- ^ "transaction hash". Etherscan. Jan 5, 2018.
- ^ Reyburn, Scott. "Will Cryptocurrencies Be the Art Market's Next Big Thing". The New York Times.
- ^ Penney, Daniel. "How Much for That Pepe? Scenes from the First Rare Digital Art Auction". The Paris Review.
- ^ "Art+Tech Summit: Exploring Blockchain —Is the Art World Ready For Consensus?". Christies.