How do NFTs fit into the art world?

Declassified with Erick Calderon (he/him), founder ArtBlocks.io

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Our goal with every episode is to break down fancy art talk, provide links to everything discussed, and share some additional reading we found that was inspired by our conversation.

Adobe, Computer software company for the creation and publication of content including graphics, photography, illustration, video and print; also a type of clay used as building material, typically in the form of sun-dried bricks.

Agnostic, Having a doubtful or noncommittal attitude toward something.

AI , Artificial Intelligence, the development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.

Algorithmic Art, One single, unique work of visual art created by a piece of code.

ArtBlocks.io, Platform (est. 2020) for the appreciation and purchase of generative digital art via a decentralized marketplace.

Beeple, Stage name of artist Michael Winkelmann (b. 1981), American digital artist known for his comical and thought-provoking work, and especially his Everydays, the first 5000 days of which sold together for $69.34 million through Christies in March 2021.

Bitcoin, Decentralized digital currency without a central bank or single administrator, that can be sent from user to user on a peer to peer (P2P) blockchain network.

Blockchain, Shared, decentralized, immutable ledger that facilitates the process of recording transactions and tracking assets. Umbrella term – Ethereum and the bitcoin network are both “on the blockchain.”

Crypto Kitties, Online game (est. 2017 by Dapper Labs) that allows players to buy and trade digital “cats” on Ethereum. Important for its introduction of the ERC720 smart contract which standardized the mechanism for transferring ownership of a digital asset on the blockchain.

Curator, Someone employed by a museum or gallery to manage a collection of art works, organize shows, conduct research and draw connections between art and life.

DAO, Acronym for Decentralized Autonomous Organization, an organization represented by rules encoded as a transparent computer program controlled by the organization members and not influenced by a central government. Used in this context to represent a group of buyers at auction.

Decentralized, Controlled by several local offices or authorities rather than one single one.

Discord, Free voice, video and text chat app, recently adopted by blockchain and crypto communities to discuss trends and innovation in the space.

Ethereum, Decentralized blockchain network among which Ether is exchanged as native digital currency.

Generative Art, Visual art created by a predetermined system, in this case an algorithm, that often involves an element of chance.

James Turrell, American artist (b. 1943), member of the California Light and Space movement and known for sculptures and installations that manipulate light and sky.

Jerry Saltz, Pulitzer prize-winning American art critic (b. 1951), columnist for New York Magazine since 2006 and former senior art critic for The Village Voice.

NFT, Acronym for Non-Fungible Token, a non-interchangeable unit of data stored on the blockchain that can be sold and traded.

Pace Gallery, Leading contemporary art gallery with locations in New York, LA, London, Hong Kong & more.

PFP, Acronym for Profile Picture, now a popular type of NFT usually dropped in series as avatars for use on social media (e.g. Cryptopunks and Bored Ape Yacht Club).

Sol LeWitt, American artist (1928-2007) whose geometric, minimalist work divided the idea from execution as the chief role of an artist.

teamLab, International art collective (f. 2001) of artists, programmers, engineers, mathematicians and architects whose collaborative practice seeks to “navigate the confluence of art, science, technology, and the natural world.”

The Cryptopunks, One of the earliest examples of NFTs on Ethereum, 100 x 100 grid of 24-pixel characters created by Larva Labs in June 2017. Free at first, connected to smart contracts which are now worth millions. Almost $2B in sales since 2017.

Top Shot, A revolutionary NFT marketplace (est. July 2019 by Dapper Labs and NBA Players Association) that allows users to buy, sell and collect influential NBA scoring moments.

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What is it like to be an artist today?

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