This week’s featured collector is Rainster
Rainster’s collection focuses on Ethereum NFTs. They’ve collected a few interesting artworks including a portrait of Beeple and animated Glitch NFTs. Browse the full art collection at lazy.com/rainster
The results of last week’s poll: How significant do you think the role of NFT utility trading will be in the future of NFT marketplaces?
Last week’s newsletter featured a new marketplace for NFT utility. We then asked our readers to predict how important NFT utility trading will become in the future. The results were mixed and suggest a cautiously optimistic view, with a slight majority considering NFT utility trading to be a major player in future marketplaces, while a significant minority are either uncertain or foresee a lesser impact.
Beeple on the Future of NFTs: Evolution and Adoption
Mike Winkelmann, known professionally as Beeple, is a digital artist who has become one of the most prominent figures in the world of NFTs in 2021 with his record-breaking $69 million sale of an NFT at Christie’s auction house. Beeple’s work has since been synonymous with the explosive growth and interest in NFTs as a new medium for digital art ownership and collection.
In a recent talk with Matt Medved, co-founder and Editor-in-Chief of NFT Now, Beeple discussed the evolving landscape of NFTs and digital art. Here are a few of the main insights into the evolving NFT space which will be of interest to collectors and creators:
Digital Art’s Evolution: Beeple shares his vision of integrating digital and physical art. He talks about how digital art can be more actively experienced in one’s environment, similar to traditional art, creating a stronger emotional connection. For creators, this highlights the potential for hybrid artworks that engage audiences across multiple dimensions, and for collectors, it suggests the value in seeking out works that offer such a dual experience.
NFTs as a Reflection of Internet Culture: Beeple discusses his “Everydays” series, likening it to a form of political cartooning for internet culture, documenting the zeitgeist. This approach suggests that NFTs can serve as historical records, offering collectors the opportunity to own pieces of digital history and creators a chance to contribute to the cultural narrative.
Conceptual and Technological Challenges: Beeple acknowledges the challenges of the NFT term becoming associated with scams and suggests that the technology will need time to mature and be understood. He believes that future generations will naturally understand the concept of virtual ownership, which suggests a long-term perspective on the value of NFTs.
Creator Royalties and Market Evolution: Addressing the contentious issue of creator royalties, Beeple argues for realistic expectations, drawing parallels with the music industry. He posits that the NFT ecosystem’s development will require both technological and social solutions, and he calls for a community-driven approach to uphold the values behind NFTs, such as ongoing creator compensation.
Overall, the talk points to a need for patience, innovative thinking, and community-focused efforts to navigate the NFT landscape, emphasizing both the medium’s current state and its potential to reshape the art world.
Watch the full interview here.
This week’s poll: What future NFT development are you most eager to see?
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