AI-ART and Returns on Braindrops
In this article we checked all collections on Braindrops and evaluated the return on Investment. What we want to highlight is not the evolution of each single collection, as the time span is relatively short, but the overall performance of all collections.
In this age of GAN (Generative Adversial Network) models and image generators flooding the Internet, itβs hard to find value in AI-generated artwork. With the help of text to image generators, almost anyone with internet access and a little practice can create great images these days.
In this process, an AI model is trained with millions of existing images from the Internet. It reassembles these according to the userβs specifications, sometimes in such creative and innovative ways that would be difficult for a human artist.
The challenge here seems to be finding pioneers in the AI movement who create the extraordinary and innovative. The Braindrops platform stands out in this regard and has been able to score points even before the current hype generated by generators like Midjourney, Dall-E and Stable Diffusion.
Thoughts on whether or not AI generated art is art at all are inevitable.
However, artists have been experimenting with AI to aid them in their creative work for decades. Of particular note is the Braindrops platform, which provides a springboard for AI artists. Much like a release of a curated series on Artblocks represents a knightβs thrust for generative artists, a release of a collection on Braindrops for AI artists is to see the same way.
Braindrops
The Braindrops platform, which is a springboard for AI artists, deserves special attention. Analogous to the release of a curated series on Artblocks, which is considered an accolade for generative artists, a release of a collection on Braindrops can be considered for AI artists.
Active since 2021, Braindrops sees itself as a platform for AI-generated art and a place where collectors, curators and artists come together. The platformβs founders are Justin Trimble, investor and advisor to Stability AI, Punk2153, and Gene Kogan, who launched the Brain Loops collection on Brain Drops.
Trimble, already experienced in the crypto and NFT sectors and networked with Eric βSnowfroβ Calderon (founder of generative platform Artblocks), contacted artist Pindar van Arman.
A few months later, the first three collections were launched on Braindrops, which have since been considered Genesis Editions. These are Genesis by Claire Silver, Podgans by Pindar van Arman and Brain Loops by Gene Kogan. To date, 21 collections have been released on Braindrops, which we will discuss below. For our analysis, however, we only evaluated 20, since the last one was only recently released.
Analysis of Braindrops Collections
For our Valuation we took the date of July β24th-26th 2023 on the platform Opensea.
The value development corresponds here to an eightfold increase, one would have been with each mint.
Of course, this is not comparable with Artblocks, where 25x would be possible with each mint over the first 8 curated series.
To put this statement into perspective, it must be mentioned that AI art is still in its infancy, while generative art has existed since the mid-20th century. Furthermore, of course, the timing of the collections must be put into perspective, since the release date of many Artblock collections was carried out at a much better macroeconomic market situation.
The more influence AI has on our lives, the more likely it is that artists who are deeply involved with this topic will be able to set lasting milestones. Be it through innovation, revolutionary concepts or the way they are executed.
In every art form, be it surrealism, cubism, realism, there are certain pioneers or concise artists who are still known and permanently remembered even after your death.
In the following we will continue to present artists, besides the Genesis Artists of Braindrops where Claire Silver is outstanding in our opinion, that we consider successful in this context in the future.
Roope Rainisto
Rainistio won, among other things, the second AI Art Contest, announced by Claire Silver, among 1800 participants. His best-known collection is Life in West America, inspired by the first color photographs by American photographers.
Each of his works is photographic in nature, but at second glance many details are out of place and thus seem somewhat disconcerting, even if at first glance it is not immediately apparent what the cause is.
It is exactly this kind of art that remains in the memory, it is stirring, generates emotions and is controversially discussed. The total volume of this collection on the secondary market is already over 3.5 million USD. In addition to this edition, he was already released a second collection called Reworld, which is similar in structure, but currently traded much cheaper.
Robbie Bharrat
Robbie Barrat has been creating in this art form for a long time. In 2018, visitors to Christies auction house were handed coupons with which to redeem NFTs created by Bharrat.
Most of the guests, who at the time understandably had no use for this form of art and this form of medium, threw away their coupons, leaving most of the works irretrievably lost.
Bharrat created AI-generated nude portraits with the Lost Robbies, though they are barely recognizable as such. As one of the first artists to use NFTs and AI, this collection already has legend status.
Refik Anadol
Anadol considers data as his color palette and algorithms as his artistic tools. His works pose the philosophical question of whether a machine that cannot forget and constantly receives input can dream.
He experiments with reinterpreting data that you wouldnβt think could be represented graphically, creating fascinating data sculptures and AI visualizations. He thus seeks the human in a non-human context.
Anadolβs works have already generated considerable revenue, with a collection of 8 works selling for a combined total of about $8 million. His latest project in terms of Volume at the moment is Winds of Yawanawa, in which weather data in the region of an Amazon tribe, including wind speed, gusts, direction, and temperature, are processed using AI and combined with the works of Yawanawa artists to create fascinating and vibrant artworks.
Marc Klingemann
Along with Refik Anadol and several other artists, Marc Klingemann is considered one of the absolute pioneers in AI and art. He uses neural networks, code and algorithms. Klingemannβs interests lie in artificial intelligence, deep learning, generative and evolutionary art, glitch art, data classification and visualization.
His drive is to question the inner workings of any system, be it human or machine. Mario Klingemann has also been able to generate revenues in the high six-figure range.
One of his most famous works is Memories of Passersby, one of the first AI artworks to be sold through a traditional auction house, in this case Sothebys. Among other things, he also launched the Bottoproject, an autonomous art form that produces artworks on the basis of artificial intelligence and feedback from the community.
Conclusion
The latest generation of image generators such as Midjourney and Stable Diffusion make it possible to create videos using artificial intelligence. Similar to the early days of image-generated art, the first versions are somewhat crude and not realistic. However, here too, the development is progressing rapidly and in a few months will reach completely different qualities than is currently possible.
Along with generative art, AI-Art seems to be one of the big new art movements we are keeping an eye on developing. The possibilities that arise from these tools seem huge especially in terms of interactive works. Despite the remarkable progress, there are still challenges in AI art, such as the question of artistic originality, authorship and acceptance, which, as so often with new developments, need time to become morally, legally and socially oriented.
Author:
The Wolf of Art Street / Research Analyst at Eternalyst
https://twitter.com/twoartstreet
Disclaimer
The following evaluation and the information, analysis, and opinions contained therein (collectively, βInformationβ) are for informational purposes only and do not constitute investment advice or an offer to buy or sell artwork or related financial instruments. The Information has been compiled from publicly available sources and from the Art Blocks platform, which empowers digital artists to influence their work through alphanumeric figures generated by the Ethereum blockchain.
While we strive to ensure that the information in this evaluation is reliable and accurate, we make no warranty or representation as to the accuracy, completeness, reliability, or suitability of this information for any particular purpose. Any user should therefore not rely solely on this information, but should seek independent advice from appropriate professionals before acting or making any decisions based on this information.
Past performance is not a reliable indicator of future results. All investments, including those in works of art, involve risk, including loss of principal. Users should also keep in mind that the information contained in this evaluation is general in nature and is not tailored to the specific needs, goals or circumstances of any individual.
It is important to note that we have no relationship with Art Blocks, the artists whose works are curated on the platform, or any third party mentioned in this evaluation. Any opinions expressed in this evaluation are our own and do not represent the opinions or recommendations of Art Blocks or any other party mentioned.
This evaluation is published on Medium and may be read and used by third parties. We assume no responsibility for the use or interpretation of this information by third parties.
