The Impact of Blockchain Technology on Art Photography
Comparison of traditional art trading and art market under blockchain technology
First of all, we must clarify this concept: using blockchain for the collection of art is not a substitute for traditional collecting methods.
While we debate whether new collecting methods will negatively impact art appreciation, we must remember that just as how we used to debate whether photography would replace traditional oil paintings, time would eventually prove that these debates were off the point; these different methods would have different functionalities and correspond to different needs. For many collectors, there is no conflict between the actual possession of a work and the concept of collection. One could even say that these two things are not entirely related. Therefore, we do not have to spend much time discussing whether such a new approach will negatively affect the art world.
Every year, trillions of photos will not be printed after painstaking work by photographers. An art market with blockchain as one of its core technologies makes it possible to purchase and trade digital photographic works like a physical copy.
In contrast to stock image websites that are already widespread in the market, blockchain allows every photo to have a traceable record. For instance, assume that a Brazilian artist’s work ends up owned by a collector from Finland. The work, which has passed through different owners for more than 100 times in more than 50 years, will come with all the information regarding who it had belonged to, for how long, at what price, accessible through a few simple mouse clicks on the blockchain platform.
In another 50 years, the current collector of this photo will still be able to get the very same information through simple search. This is a vital development for photographers and collectors in the industry: artists can be confident that their work will be sold at a price that they are satisfied with, and that collectors can clearly know information such as: ascertain that the work is indeed created by a specific photographer, who had collected the work in the past, and even the future levels of appreciation for this photo.
Taking ancient Chinese paintings and calligraphy as an example, a picture with multiple collection seals is usually used as the proof of the provenance, and even the value of the works. The “Mingchang Qiyi” or “Qianlong Wuyi” are relatively common stamps of value in ancient Chinese calligraphy and painting. The collection of a painting and calligraphy by an important literati or an emperor not only proves the authenticity of this painting but also adds great value to it.
Who doesn’t want to collect the same painting once owned by the Emperor Qianlong, or likewise the Rockefellers or the Guggenheims in the west?
The reliability of provenance under traditional collecting methods has always been a big problem. The value of a work of art is not only reflected in the amount of money collectors are willing to pay for it, but more importantly, why these collectors are willing to spend such a significant amount of money on it.
In reality, it all boils down to the pursuit of the “artist’s touch,” which is proof that the work truly comes from the artist.
After multiple resales, almost no collectors or dealers can provide a complete and accurate provenance for the artwork. Usually, they only provide a piece of paper to prove that the work is genuine, but not previous proofs of authenticity.
Consequently, a collector may never know the whole history of the work; simultaneously, an artists can barely know who their works ended up with and what the market prices were.
Today, blockchain technology allows data storage to happen on many servers, prevents data from being tampered, and makes it accessible for users to trace where the data came from. These characteristics create unique digital identities for artists and collectors on each platform.
Blockchain technology helps an artwork to have an accurate provenance from its creation to the first time it came to the primary market, and even to subsequent resales on the secondary market. Collectors will no longer have the need to go to galleries or auction houses to obtain proofs of authenticity — the work’s ownership history, circulation records and all kinds of key information related to it, will all be open and transparent on the blockchain platform. Anyone can search to verify the information on their hands through the blockchain platform.
Advantages of blockchain photography collections over traditional collections
If you are a professional photographer, you would understand that from photographing to post-production, to output and framing, each step is rigorous and time-consuming.
If the filming and post-production of a work both belong to the artist’s creation process, then a precise printing and a proper framing are to ensure that the end product can accurately reflect the artist’s intention. Making sure that the colors or the printing paper are flawless is to ensure that the final product is presented exactly as it is in galleries or museums as it was conceived by the artist. It is worth mentioning that a professional photographer even has to consider the colors, temperature, and brightness of the place where the work will be exhibited, not only for visual considerations, but also to ensure that the work can withstand the time and illumination at the exhibition space.
On the other hand, in traditional film photography, the C-print produced through magnification or darkrooms is subject to even more harrowing considerations. For instance, the lighting in the photo exhibition area in a museum is always much darker than that of the other areas, because long-term exposure to glaring lights would eventually degrade the photography and greatly shorten its lifespan in the collection.
The reason why many museums and galleries do not permanently display a few selection is that they are concerned about the long-term sustainability of the collection. Whether it is the re-installation before an exhibition, or the transportation after the sale of the photograph, both are meticulous and time-consuming procedures. It can be said that the maintenance of traditional photography is not at all simpler than oil paintings.
The price of photographic output is also particularly expensive. We use the common photographic output costs as an example:
A 4x5 color negative film costs about $4 for a single shutter click and $5 for a single developed sheet.
If one does not consider the use of darkrooms for developing the photos (very high cost), and instead scans the whole roll of color negative film, each sheet costs about $200 USD.
At this point in time, the scanned document is still only an electronic document. The printing and scanning will cost even more in their preliminary stages if the artist decides to do it by him/herself.
A roller scanner that can scan 4x5 films is about $16,000 before tax, and printers are of varying costs. However, we will not be discussing these expenses, as these assets will be used through the entirety of a photographer’s career instead of just on a single piece of work. Let’s continue to discuss the paper and ink used for the output of this work:
Imagine a large piece of work at 44'’ (about 1 meter) wide. Roll paper is a cheaper, but to print a work 44’ wide on professional paper will average around $600 USD.
A single ink cartridge sells for about $100, and while the number of cartridges needed varies among professional printers, it is common for professional printers these days to to require 8 ink cartridges.
From late stage confirmations to producing the final work requires multiple test printouts: whether it is for proofing multiple times or for testing which type of paper to use for the final product.
After the output, the artist can choose whether to frame the piece of artwork. If the artist decides to be part of a gallery or an art fair, the artist must have it framed and might even sometimes have to pay a participation fee:
The price of a wooden frame purchased in a workshop fluctuates around $300 (the price is based on the type of wood and other specifications).
The glass in front of the wooden frame that has UV protection costs around $100.
And in general, the labor costs for framing is approximately 2–2.5 times the material cost.
It is difficult to calculate the exact cost of a photograph that is hung in a gallery. After all, the process of each successful output of every photographic work varies, but the above calculation should provide a fairly illuminating, albeit rough, estimate. Under such output costs, the transaction price of photographic work through traditional collection means is reasonably high.
The impact of blockchain on the field of photography and the market
Through blockchain technology, a photographic work can be traded and transferred in an electronic form. There is no longer high output cost, and no need to consider the cost of packaging and transportation. The price of a photographic work will naturally decrease.
This does not mean that the artist’s profits are reduced, since it is difficult to calculate the time and effort needed for producing a photo. Usually, a photographic work will not result in only a single version. Artists usually publish multiple, albeit limited, editions of a piece of work, since it is also must more expensive to only produce a single work.
We can look at the recent examples of some popular products from street-wear and popular culture to understand this better: KAWS and his “Companion,” Jeff Koons and his “BalloonDog”, and even Virgil Abloh and his ubiquitous trademarks are all limited editions. In the field of art, an edition, or “artist’s multiple”, is a series of identical works created by the artist himself or with the help of helpers based off an original work by the artist. It is usually sold in limited quantities, and the concept of editions in photography is the same. The three almost universally-known artists mentioned above have earned money by selling their “artist’s multiples”, which range in price from less than $100 to over $9,000 USD. The price of the item varies based on the quantity sold and whether the artist’s signature is included.
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