Let Blockchain Drive a Thriving Crypto Art Market
The emerging trend of digital art creation has become an alternative mainstream in the art world in recent years, and the combination of NFT non-homogeneous passes generated by blockchain technology has created a market for “Crypto Art” that is not limited by geographical space. It has the ability to be transferred on the blockchain, to be traded, and to work with smart contracts. This is an absolute incentive for collectors.
Starting July 23rd, fans of the electronic dance music festival “Sunburn” and the wider EDM community can bid on the festival’s NFTs, which are already making their way through the electronic music scene, offering a new opportunity. Empowering artists personally and taking a step towards revolutionizing the entire music industry, NFTs are revolutionizing the music industry by creating new possibilities and experiences for artists and collectors alike.
The music industry is in a state of rapid change and evolution, and digital tools are the primary way to reach a new generation of fans; NFTs enables artists to cut out the expense and risk of middlemen and save time by selling directly to their fan base, thus multiplying the popularity of digital collectibles.
This year, the French Federation of Haute Couture and Fashion (FHCM) has partnered with the NFT platform to give away NFTs to invited attendees, buyers and journalists during Paris Fashion Week Menswear and Haute Couture. The first asset is the media accreditation, which is given only to accredited journalists, influencers and buyers who are invited to attend the fashion week events. The second asset is the exclusive digital work of renowned fashion illustrator Richard Haines.
Through these NFTs, all invited members will receive exclusive content and AR experiences, including exclusive digital work by renowned fashion illustrator Richard Haines, as well as press accreditation for Paris Fashion Week, which is also used by event organizers to digitize the accreditation process. Guests do not need to share their personal information at the entrance, but simply need to prove they have NFT to gain access to all Fashion Week events.
According to Coindesk, British artist Damien Hirst recently launched a $20 million NFT experiment. He created 10,000 pieces of paper art with corresponding NFT versions, each priced at $2,000. In the end, the owner will choose between the paper artwork and the digital artwork, and the one he doesn’t choose will be destroyed. Buyers will reportedly have one year (until July 27, 2022) to decide whether they want to keep the NFTs or exchange them for their physical equivalents.