In the physical world, you do tend to be limited to set dimensions. “The interaction with digital artworks is also greater in that you can move it around, go into it, listen to it, whatever it allows. That paradigm shift is almost spiritual because of the instrinsic idea of ownership - whether the art is physical or digital - the knowledge evolves,” she explains. But I decided to work digitally, as did everyone. When COVID-19 hit, I thought that was the end of my art career. Though she had created her work digitally, there are physical manifestations of them as seen at international art shows in Dubai and Hong Kong.Īmrita Sethi at a showing for her mixed media artworks Her mixed media work sees soundwave art created with striking visuals these soundwaves can be played via a QR code. She is also the United Arab Emirates’ first NFT artist.
Indian digital artists are exploring the latest craze: Crypto artĪmrita is known in traditional art circles as the banker who became an NFT artist but in the virtual world she is known as a traditional artist who became an NFT artist. The account itself helps market these artists’ works. For example, on Instagram account features dozens of artists registered on various marketplaces. There is a growing community of NFT artists in India. “I did not join because of FOMO, but for the intent,” he avers. But NFT art still would not happen for years to come and when it did, Raghava was fuelled up to take part again. Raghava sees this moment as a game-changer (pun intended) for digital art. In the early 2000s, the gaming industry stepped into the world of digital assets and micro-transactions where gamers could purchase avatars and skins for use in the virtual world. But Sedition did not have the take-off artists quite hoped for. Then there is Sedition Art, one of the world’s first digital art marketplaces where artists such as Yoko Ono and Damian Hurst hosted their works Raghava also joined in.
This inspired the thought of artists finally engaging with the world on their own terms and making good money for their hard work,” he explains. Unfortunately, BIAM got halted and disassembled once the Danish Government sued them for using the word ‘bank’. Raghava decided to bring it to India, by which time a few artists were on board. Eventually, they got local stores to start accepting it, and this spread to other countries. Artists were invited to mint their own currency (literally called Art Money) and exchange it amongst themselves. One early example is Denmark’s Bank of International Art Money established in 1998 by Lars Kreammer and Flemming Vincent. Raghava says artists should know the history there is a rich and complex one.
Six years ago, I put together a 200-year plan for art but it was not called NFT back then, it was ‘standardised encryption for digital assets’,” he shares. “This disruptive technology has the potential to create utopias and dystopias - as with any technology.
An early crypto investor, he was one of the few people in India who saw scope for art investment in this space he had examined a lot of it in terms of aesthetics, patronage, what it would liberate for the art world, and even how it can cause a lot of harm. MetroPlus speaks with artists working closely with the NFT world, about how artists should strategise and be prepared for unpredictable changes in this new space.īased in Bengaluru, Raghava KK is not just an artist - he is a storyteller, a researcher and a technologist obsessed with Artificial Intelligence. Now, the hype is real but are artists’ expectations realistic? Naturally, when the Beeple piece sold for tens of millions of dollars, a wave of artists got into it. NFT art sees original artwork linked to the NFT, as a form of certification that the artwork is original, so the digital art can be replicated but the token cannot. Interview with Twobadour on co-buying Beeple’s Everydays: The First 5000 DaysĪn NFT (non-fungible token) is a unit of data stored on the Ethereum blockchain. as ‘After Beeple’, similar to those of B.C. The artist has even divided timelines into two: B.B. She points out the reason prices are sky-high at the moment is the virtual world understands how much of a pivotal moment this is for society - this is then priced into the virtual art market. “Let’s be honest, the NFT art world would not be having the trajectory it is, if Metakovan and Twobadour did not spend close to $70 million worth of crypto on Beeple’s Everydays: The First 5000 Days,” says Amrita Sethi, “That figure alone is enough for artists to start delving into the virtual NFT art space.”Īmrita, having been a banker for many years is aware of the economics and hefty financing required to get NFT off the ground. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories.
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