Does Fine Art Have a Viable Role in Today’s NFT Market?
Why are so many of the NFTs on the market today “bored” or “mutant”? And why are so many of the rest so uninspired and similar?
Look, I get it.
NFTs are a new field. It’s a “gold rush” in the wild, wild west. So, people are trying anything and everything to get their piece of the pie. Perhaps “bored” and “mutant” resonate with how people feel about themselves, the world and their lives.
Developers see the enormous profits made by a few of the most prominent NFT projects. And they think they can get rich if they follow the same formula as the apes and the punks. It’s a modern-day “gold rush”.
The Wild, Wild West of Generative NFTs
Almost every NFT publisher today is following a specific “recipe” to make NFTs. So, almost all NFT collections are made by using the same “generative” technique. Which means that they all generate their NFTs randomly by layering various features together on a digital canvas. They start with one of perhaps a dozen or so different background colors. Then, they add the torso and head of an ape, punk, cat, dog, bird, bear, panda, frog, warrior, alien, robot, dragon, unicorn, etc., etc., etc. On top of this, they layer one each of a dozen different mouths, a dozen different eyes, a dozen different hats, a dozen different shirts, and so on. These different layers are randomly chosen and compiled by a computer program.
The result is a collection of thousands of similar NFTs that are each “unique” but completely formulaic.
The quality of the resulting NFTs is only as good as the quality of the individual layers. And, the quality of the layers is only as good as the creativity, skill and aesthetics of the creative team.
Today there are many millions of generative NFTs that have already been created using this method. There are many millions more that are in the planning stages. And all these are being loudly promoted, despite a clear lack of creativity and aesthetics.
So, what is a serious artist to do?
In short, artists should embrace NFT technology.
Artists of all types have a lot to gain by adopting and using NFTs to distribute their work. They can establish and prove the authenticity of their work without question. They can promote their NFT artistic creations in a variety of internet venues. The sales commission on most of these venues is very inexpensive. And, artists can receive a part of the resale price whenever one of their NFT artworks changes hands in the future.
So, artists of all types benefit by embracing the NFT trend instead of fighting it.
Some well known artists like Beeple have made millions of dollars creating and selling NFTs.
Some talented but less recognized artists have published their physical artwork in the form of NFTs. But, the work of these artists are often drowned out by the shear volume and hype of the generative projects.
Some digital artists have carved out niches for themselves by creating and selling NFTs of their one-off creations. Here too, the challenge is promoting into the noise of the NFT market.
And, a few digital artists have learned to harness artificial intelligence to create and transform images. AvatArt Studios fits into this category.
The bottom line is that real artists can and should continue to explore and use NFTs. If we develop our presence in the NFT market, the time will come when our work is recognized and appreciated.
Handling the Hype
Most artists I know have limited advertising budgets.
Almost all the NFT projects I have encountered “shill” their projects relentlessly on social media and elsewhere. Most do this because they are in it for the money, not for the art.
Unfortunately, most of the hype is exactly that — hype.
You don’t need to shill or hype quality artwork. People can recognize creativity and aesthetics when they see it.
So, I have decided not to use spamming, shilling or hype in promoting my own NFT projects. If you are serious about your art, I would encourage you to do the same.
That doesn’t mean you shouldn’t have a website. You should. And you should have a strong social media presence. Create a blog. Show your work on Instagram. Generate quality content on Medium. Develop a community on Discord. There are a lot of effective ways to gain exposure for your work.
But, please resist the temptation to hire the shillers and spammers. They do your work and our industry a disservice.
Being Professional
Professional artists do have a place in the NFT market.
But, much of the NFT market has yet to figure that out.
So, we all need to persist. Persist in our art. Persist in our professionalism. Persist in our belief that quality will eventually win over sensationalism.
