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Africa & Middle East NFT Market Intelligence Report 2022: An $18.21 Billion Market by 2028

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Dublin, Dec. 06, 2022 (GLOBE NEWSWIRE) — The “Africa & Middle East NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels – Q2 2022” report has been added to ResearchAndMarkets.com’s sacrifice.

The NFT industry in Africa and the Middle East is expected to grow by 48.3% YoY to reach US$3420.4 million in 2022.

The NFT industry is expected to grow steadily over the forecast period, with a CAGR of 34.3% during 2022-2028. The NFT spending value in the country will increase from US$3420.4 million in 2022 to reach US$18215.7 million by 2028.

In the Middle East and Africa region, particularly in the UAE, there has been a surge in NFT-related activities. In 2022, Art Dubai – the largest contemporary art fair in the MENA region – welcomed nearly 100 international and local art dealers and a digital collection of 17 platforms and galleries dedicated to exhibiting and selling NFTs. As more and more countries seek to impose strict regulatory measures on NFTs, there has been a notable increase in the buying, selling and creation of the NFTs in the UAE.

Over the past 12 months, several innovative NFT marketplaces have also sprung up in the country, making it relatively easier for the general public to buy, sell and trade NFTs. From NFT-based startups to cryptocurrency exchanges, various players are entering the UAE NFT market; the presence of various NFT marketplaces has also supported the rise in NFT trading transaction value and volume, a trend that is expected to gain further momentum over the next three to four years in the UAE.

The rise of blockchain-based gaming is expected to drive NFT market growth in the UAE

With blockchain-based games, people are often awarded cryptocurrencies or NFTs for participating in game tournaments.

The United Arab Emirates has always welcomed new and emerging technology. Also for NFTs, the UAE has adopted the NFT technology. For the UAE’s 50th birthday celebration, the postal operator in the country has issued NFT stamps to celebrate the federation’s national day.

Dubai Culture has also ventured into the NFT space with the NFT curatorial platform MORROW. Therefore, the growing adoption of NFTs has led to a thriving NFT scene in the UAE, and the trend is expected to further accelerate over the next three to four years as global players seek to capitalize on the growing UAE market.

Large firms entering the NFT sector to capitalize on the growing market and boost their growth

With Dubai and Abu Dhabi announcing that crypto-related activities and businesses are legal in the UAE, major firms are entering the NFT sector to capitalize on the growing global market and boost their growth.

In April 2022, Emirates Airlines announced its entry into the metaverse and NFT sector. The firm is expected to bring services and a range of digital collectibles to enhance flyers’ metaverse experiences. The firm also announced that the NFT and the metaverse projects are already underway and expected to launch in the coming months.

The firm has also repurposed its Emirates Pavilion at the Expo 2020 site as a point of contact for people who can contribute to the firm’s forward-looking projects, including those related to NFTs and metaverse.

In December 2021, Falcon Society also announced the launch of the UAE-based NFT line. The Falcon Society is a collection of 4,000 unique Falcon Humanoid NFTs that reside on the Ethereum blockchain. Each NFT serves as the user association membership card and provides access to members-only benefits.

These emerging technologies have revolutionized the art and pop culture world, creating a dynamic market for creators and fans in the Middle East and Africa region.

In Saudi Arabia, the NFT market has recorded strong growth over the past 12 months and is expected to gain further momentum over the next three to four years as the country looks to become a creative hub in the Middle East, and the publisher expect NFTs to play a very important part as the country seeks to become a creative hub in the Middle East. With several regional and global players entering the NFT market in the country, the market is expected to witness strong growth over the next three to four quarters.

The government’s efforts to promote the NFTs are also expected to drive the popularity of the digital asset among the general public, further aiding market growth in Saudi Arabia. Additionally, amid strong demand for NFTs among Saudi Arabians, NFT marketplaces are raising funding rounds to further accelerate their growth.

Although there are no specific regulations regarding the buying, selling and trading of NFTs in Saudi Arabia, the government’s support in favor of the NFTs is expected to drive the market’s growth from the short to medium term perspective.

To further promote the NFT market and raise awareness among collectors, artists and curators, the Ministry of Culture in Saudi Arabia has launched an NFT Digital Art Forum in partnership with Sotheby’s and the Visual Arts Commission.

In Egypt, non-fungible tokens (NFTs) are becoming increasingly popular among digital artists. While the NFT market is still in its early stages of development and not as mature as some other markets, the industry is growing as more and more artists introduce their innovative art collections as an NFT.

As the hype and interest in the market continues to develop well, the country’s NFT sales volume and value are also increasing. Several thousand digital artworks created by digital artists in the country plan to trade on NFT platforms. In Egypt, digital assets referred to as NFTs are mostly limited to digital real estate, games and works of art. However, as the market matures over the next four to eight quarters, the publisher expects more innovation in the Egyptian NFT industry.

Various NFT project launches inspired by Egypt’s history and monuments drive industry growth

Over the past 12 months, many projects inspired by ancient Egypt’s history and monuments have been launched. For example,

Sphynx Cats, the NFT project inspired by ancient Egyptian history, is a collection of 9,099 NFTs, with one having different characteristics than the others.

These project launches in the country drive industry growth and awareness among the general public in Egypt. The publisher expects the trend to continue from the short to medium term perspective, further supporting market growth over the next four to eight quarters

Similarly, prominent South African figures introducing NFTs drive market growth and awareness. All movie stars, singers and sports players have entered the NFT space worldwide; similar trends are visible in South Africa, where many prominent figures are launching NFTs.

Big names include cricketer AB de Villiers, influencer Diipa Khosla, musician Goldfish and the Kiffness, and filmmaker Dan Mace. The entry of these big names in South Africa has driven the popularity of NFT among the general public and thus driven the market growth over the past 12 months.

Art galleries in South Africa are trying to capitalize on the global trend in the NFT market

  • In March 2021, Worldart, the South African art gallery, became the first in the country to auction the artwork as NFT.

Firms are raising funding rounds to further accelerate their growth in South Africa

  • In November 2021, NFTfi, the firm that allows users to use their NFTs as collateral for loans, announced that it had raised US$5 million to further accelerate its growth in the country.

Auction houses work with wine producers to offer wine NFT in South Africa

  • In April 2022, Strauss & Kie, the most important South African auction house, announced that it had entered into a strategic collaboration with five of the most respected wine producers in South Africa. Under the strategic partnership, the auction house offered fine wine NFTs.

Key topics covered:

This is a bundle offering that combines 6 reports, covering regional insights along with data-centric analysis at regional and country level:
1.Africa & Middle East NFT Market Insight Assignment
2. Africa & Middle East NFT Market Intelligence and Future Growth Dynamics Databook
3. South Africa NFT Market Intelligence and Future Growth Dynamics Databook
4.United Arab Emirates NFT Market Intelligence and Future Growth Dynamics Databook
5.Saudi Arabia NFT Market Intelligence and Future Growth Dynamics Data Book
6.Turkey NFT Market Intelligence and Future Growth Dynamics Data Book

Extent

This report provides an in-depth, data-centric analysis of NFT Market and below is the summary of key market segments:

NFT Market Size and Forecast by Key Assets, 2019-2028

  • Collectibles and Art

  • Property

  • Sport

  • Games

  • Utility

  • Fashion & Luxury

  • Other

NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028

  • Digital art

  • Music & Soundtrack

  • Videos

  • Memes and Poison

  • Other

NFT Market Size and Forecast by Currency, 2019-2028

  • Ethereum

  • Solana

  • Avalanche

  • polygon

  • BSC

  • Flow

  • Wash

  • Ronin

  • Other

NFT Market Size and Forecast by Sales Channels, 2019-2028

User statistics, 2019-2028

For more information on this report visit https://www.researchandmarkets.com/r/8feifq

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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Patrick McHenry’s big week – POLITICO

Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, delivered to our subscribers every morning at 5:15 AM. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Respond to the news with POLITICO Pro.

Good morning: I’m delighted to be kicking things off as your new MM co-author with Sam Sutton. My goal each week will be to bring you scoops and fresh analysis to help you better understand Washington’s role in a volatile global economy. I want to hear from you too. Tell me what we’re missing, or just say hello. I would like to include your insights in the next newsletter.

Let’s start now.

One on one with McHenry: The time has come. House Republicans are expected to choose next year’s committee chairs by the middle of the week. Rep. Patrick McHenry will be their choice to lead House Financial Services, which oversees banking, financial markets, housing and monetary policy.

MM had a quick walk-and-talk with the North Carolina Republican on Friday as the Capitol cleared after final votes. Some highlights:

The five bullet points he will give to the Republican Steering Committee this week: Data privacy, capital formation and digital assets are the “big three” opportunities for two-party accounts. He will also outline plans to oversee and respond to “the Biden economy.”

The FTX olive branch to Maxine Waters: Our Playbook colleagues last month described McHenry as “the old pro,” who has changed his image from “a brash conservative whistleblower to a shrewd low-profile operator.”

Examples include what he said were “highly coordinated” tweets with Maxine Waters on Friday morning that encouraged FTX founder Sam Bankman-Fried to testify at the committee’s upcoming series of hearings about the company’s collapse. The success of McHenry’s legislative agenda next year may depend on the cooperation of Waters and other Democrats.

“We had a good working relationship on this,” he told MM. “These hearings have to be bipartisan, and to start them this Congress and carry them over to the next Congress makes a lot of sense. … All the stuff on my agenda, I’ve deliberately tried to draw bipartisan support. There’s no No guarantee. None. But all I can do is lay out the agenda and take the right steps to try to bring it.”

What lobbyists care about: One of McHenry’s toughest decisions in the coming days will be subcommittee chairman assignments for his top lieutenants: Reps. Blaine Luetkemeyer(Mo.), Bill Huizenga (Mich.), Andy Barr (Ky.), French Hill (Arch.) and Ann Wagner (Mo.). Luetkemeyer and Huizenga are effectively term-limited on their long-standing subcommittees – financial institutions and capital markets, respectively. Wagner, who was the top Republican on the Waters diversity subcommittee that McHenry is likely to scrap, is seen as a match for capital markets.

McHenry remains mum about his final plans, which may include a digital assets subcommittee. Luetkemeyer and Huizenga are up for new assignments, possibly even a subcommittee swap, according to sources plugged into the situation.

“The jurisdictional lines will shift a little bit,” McHenry says. “It’s based on our current dynamics in the market and also the emphasis we have from a legislative agenda standpoint.”

More about the economy: McHenry has concerns about liquidity in the Treasury bond market and also wants to look at how low bank capital rules interact. “We don’t want anything bad to happen in the markets because of regulation,” he says.

Let’s reflect — It’s that time of year when the music streaming algorithms start serving up nostalgia. What tops your year-end Apple Music or Spotify most-listened to list? My top album of 2022, with 111 plays, is Def Leppard’s Hysteria. Feel free to share yours. News tips are also welcome. I am [email protected] and Sam is [email protected].

Drive the week – Monday … US and European officials meet for a technology and trade summit (more below) … The Treasury Advisory Committee on Racial Equality meets at 10 a.m. … Ron Klain and Tom Cotton speaking at the WSJ HUB Council that evening… Tuesday … The House Financial Services diversity and inclusion subcommittee holds a hearing at 10 a.m. … House Veterans Affairs holds a hearing on transitional housing reform at 10 a.m. … House Financial Services capital markets subcommittee holds a hearing on corporate disclosure of workforce management and diversity at 2 pm… Wednesday … The CFTC Agriculture Advisory Committee meets at 9 a.m. … House Financial Services holds a hearing on financial institutions’ role in slavery at 10 a.m. … The House Select Committee on Economic Inequality and Equity in Growth holds a hearing on its final report to approve 1:00 p.m.… Thursday … The SEC Investor Advisory Committee meets at 10 a.m. … Treasury’s Insurance Advisory Committee discusses climate-related financial risk and auto insurance affordability at 1 p.m.…

SBF: I will testify one day – Bankman-Fried indicated on Sunday afternoon that he will not appear at the December 13 House Financial Services Committee hearing on FTX’s collapse.

Of a tweet addressed to Waters: “Once I had finished learning and reviewing what happened, I would feel it was my duty to appear before the committee and explain. I’m not sure it will happen by the 13th. But when that happens, I will testify.”

Waters told MM on Friday “we want him here,” whether he testifies in person or via video.

Cannabis banking is having its moment – After years of debate, Congress appears poised to pass landmark legislation that would allow banks to serve the cannabis industry. Supporters intend to attach the proposal to the annual defense policy legislation that the House is expected to take up this week, our Natalie Fertig reports.

— Bankers: Will you take advantage of looser marijuana restrictions in banking regulations or wait for full pot legalization? Let us know.

“With allies like these, who needs enemies?” – US and European officials will hold a technology and trade summit on Monday at a time of growing tensions between the transatlantic allies. POLITICO’s Mark Scott, Barbara Moens and Doug Palmer report that the EU is up in arms over Biden’s plans for electric car subsidies, while the US is frustrated that Europe won’t be more aggressive in pushing back against China. Some officials privately accuse their counterparts of broken promises, particularly on trade.

More from WSJ: “Europe is bracing for a confrontation with Washington over a new law encouraging businesses to invest more in the U.S., an initiative that European officials say threatens the region’s economy as it teeters on the brink of a recession.”

Oil price cap fallout – The Friday announcement of a $60-a-barrel cap on purchases of Russian oil by Europe and the G-7 reverberated through oil markets – prompting a backlash from Russia and Ukraine.

– OPEC+ agreed on Sunday to stick to its oil output targets, amid concerns over Covid-19 restrictions in China and uncertainty over Russia’s ability to export crude.

– Moscow will ban domestic companies from selling Russian oil below any price limit, and is prepared to cut production to compensate for lost exports, Russian Deputy Prime Minister Alexander Novak said on Sunday.

– Ukrainian President Volodymyr Zelenskyy said the $60 per barrel cap cannot be called “a serious decision” because that level is “quite comfortable” for Russia’s budget.

The view from Treasury – A senior Treasury official argued on Friday that the price cap would carry weight even for countries like China or India that might be less likely to cooperate with punitive measures against Moscow, our Victoria Guida reports.

“You’re going to see a number of countries … that want to negotiate lower prices, if at all possible, even if they don’t use Western services,” the official told reporters at a conference. “Because they know that Russia has two choices: they can either sell to them at their asking price, or they can choose to sell in the price limit.”

Sen. Sherrod Brown (D-Ohio) on why Congress hasn’t passed crypto regulations – From a CNN “State of the Union” interview Sunday: “Half of the Senate, the Republicans and a handful of Democrats, still think that crypto is legal and that it’s something that should be a significant part of our economy So it’s not like we’re going to snap our fingers and get a crypto bill through the Senate and through the House. …

“I would like to do something legislative. I don’t know that Congress is able to because of crypto’s hold on one political party in the Senate and the House. But we try every day.”

An administration officer tells Victoria that a stablecoin regulatory bill is still needed as lawmakers and regulators scrutinize other players in the crypto ecosystem. Legislation is the only way to have proper guardrails for that type of sign, the official said.

Meta wants to stop NFT suppression – Meta, the tech giant formerly known as Facebook, invited MM and a few other journalists to its downtown Washington offices for a spin on its virtual reality meeting app and a briefing on its lobbying priorities.

Meta has a new policy document discouraging financial regulations for blockchain products that, in its eyes, do not pose the same risks as financial risks. It argues that a creator making, say, NFT art should be treated the same way as an artist making physical art. The SEC has made NFTs an enforcement target, with officials warning that some may qualify as securities.

Meta urges regulators not to rush to set rules for decentralized computing systems as it aims to build interoperability and portability for digital assets in “the metaverse.”

A new approach to economics – The Brookings Institution released a paper by Aaron Klein and Joel Levine arguing that the use of new statistical models in economics can improve policy making. One example they cite was predicting which Senate Republicans would be part of the bipartisan group that negotiated last year’s infrastructure bill.

China loosens Covid restrictionsWSJ: “Local authorities across China are withdrawing some of their strictest Covid-19 controls, days after public anger spilled over into rare protests against a zero-tolerance approach that has kept the country largely isolated for three years.”

Apple is looking beyond China – WSJ: “In recent weeks, Apple Inc. has accelerated plans to move some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, people involved in the discussions say.”

Defaults threaten poor countries $200B in debt – NYT: “Developing countries face a catastrophic debt crisis in the coming months as rapid inflation, slowing growth, rising interest rates and a strengthening dollar coalesce into a perfect storm that could trigger a wave of messy defaults and economic pain on the world’s most vulnerable people.”

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Ithra’s show brings football and art together in NFT exhibition

The King Abdulaziz Center for World Culture (Ithra), Dhahran, Saudi Arabia, in neon and skylight.

Muhammad Yusuf, Features Author

The King Abdulaziz Center for World Culture (Ithra) celebrates the art of the beautiful game in a unique exhibition at the 2022 FIFA World Cup in Qatar. From Strike to Stroke features 64 NFTs by 32 artists from the competing nations, while Artificial Intelligence (AI) fuses the pieces of the warring two countries in each of the 64 matches into a work of art based on the parameters and results of the game.

The result is a collection of 64 unique NFTs created through a collaboration of man and machine. From Strike to Stroke opened on November 24th at the Galleria Mall in Doha, Qatar and runs until December 23rd.

“A global gateway and a cultural bridge between Saudi Arabia and the rest of the world, Ithra channels the world’s passion for football into its infatuation with the arts as the world gathers for football’s biggest stage that is the World Cup ,” says the cultural promoter. “The exhibition combines the man-made with the machine-made, combining art, sport and technology in an innovative way.” The project is the culmination of the efforts of 32 emerging and established artists, each tasked with creating a piece representing their country and using their respective team’s jersey colours. After each match, the AI-powered algorithm combines the artists’ creations with match statistics to generate pieces of art representing each game.


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The final collection will be a unique set of pieces offered as NFTs – non-fungible tokens. The cryptographic assets are based on blockchain technology, and created in a process similar to cryptocurrencies.

From Strike to Stroke includes both artists who work in traditional ways and have never created NFTs and NFT artists who have not worked within the traditional scope of fine art. “The passion shared by soccer fans for the love of the beautiful game can touch the passion shared by art aesthetes,” said Dr. Shurooq Amin said in his curator’s brief for the exhibition.

Itra Football Exhibition Main2-750
A view of the World Cup NFTs exhibition.

“By connecting 32 artists from both the traditional and digital arenas, Ithra not only bridges the gap between Web2 to Web3, and between football and art, but further between man and machine, as the artists collaborate with AI-generation technology to create unique to create NFTs that combine art, football and technology.” The AI-generated Saudi Arabia-Argentina NFT is listed alongside other completed matches on OpenSea, the world’s first and largest digital marketplace for crypto collectibles and NFTs. Qatari artist Fatima Mohammed said that “as a young Qatari living in a country experiencing radical change, my work focuses on the social fabric of the Arabian Gulf and how it has evolved over time.

“My art depicts these cultural developments in the fictional world of ‘3naj’ (Anaj) through sculpture, painting and performance art. She is a product of the West, 3naj is my muse. Part Arabian and part American bald eagle, 3naj proudly displays her heritage by wearing the batoola (traditional metal face covering) as a protective golden beak.

“She nurtures her young by providing shelter, food, independence and the freedom of flight. 3naj himself cannot fly, but is fearless. Without wings, she is unable to flee from conflict, so her husband must stand up and speak his mind to create positive change in her community.” Jeddah-based Saudi conceptual artist Amr Salih Bogari, whose work combines digital drawings, collage and photography, began his NFT journey last year. He said of his piece: “Here I highlight the fusion of love with different local cultures and how strongly they are connected to each other in one country, one kingdom and one people. Green symbolizes abundance and white symbolizes peace. Sadu and Qat art are considered to be among the most important local arts that reflect the beauty of the artistic and cultural details of this lovely kingdom.” Argentinian expressionist artist Ezekiel German is known for exploring human emotions through art. “Argentines are very passionate about football; so in this piece I tried to capture the feelings generated by the championship through expressive lines that convey vitality and dynamism,” he said.

Abdias Ngateu is a Cameroonian artist born in 1990 and trained in graphic and decorative arts. Uncertainty, urban mobility, dehumanization, urban space and current events in the world are the themes he questions in his plastic and aesthetic work.

But he does not intend to present misery and pain; rather, he wants to spread the joy of life through fluorescence colorimetry. Ngateu has three important individual exhibitions in Cameroon and Mali and around thirty collective exhibitions since 2011.

“This work celebrates the joy of living through the soft and soothing colors of our beautiful country Cameroon,” he said of his World Cup art shot. “This painting on canvas shows the festive and joyful side we have in Cameroon and the joy of participating in a major international event, namely the World Cup.” “As the American chosen to represent my country through art,” said Edward Rivera, “I am very proud to present this work. I wanted to create a piece that represents America as a melting pot that is the mixture of illustrates culture that is rich in its roots and history.

“Even if we don’t all blend together perfectly at times, we are united in freedom and the pursuit of happiness, and that is what keeps us strong. As someone who represents a mixed culture myself, I am very proud to present what America means to me through art.”

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Damien Hirst Is Now Selling Pared-Down Versions of His Monumental ‘Veil Paintings’ Via the Same Company That Released His NFTs

Damien Hirst himself put oil on paper for his latest release with HENI.

On November 15, the artist’s “Paper Veils” series dropped on the art services company’s new market, HENI Primêr. The collection is essentially a scaled-down version of Hirst’s monumental “Veil Paintings” of 2017 that deployed thick brushstrokes and heavy impasto to appear as if Georges Seurat painted furiously and without subject.

“Paper Veils” features 100 large works and 200 small works priced at $45,000 and $25,000 respectively. Unlike his much-produced spot paintings, Hirst’s own hand, rather than that of his myriad assistants, is responsible for his latest project with HENI.

“I want you to get lost in them, I want you to fall into them,” Hirst said in a statement. “I want them to delight your eyes and make you want to stay in the painting.”

An exhibition of the paintings at HENI’s London Soho gallery runs parallel to the online pre-sale period which runs until 6 December.

Damien Hirst in studio, 2019. Photo: Prudence Cuming Associates Ltd. © Damien Hirst and Science Ltd. All rights reserved, DACS 2022.

HENI’s primary goal, it seems, is to allow artists to bypass the gallery system by allowing them to release their work directly online.

“HENI Primary is our newest platform, built specifically for primary-market releases of original artwork,” reads a statement on its website. “HENI Primarily enables artists to release original works of art on a dedicated digital platform, bringing the traditional art experience online.”

To purchase work for HENI Primêr’s first sale, potential buyers are required to complete an application in which they indicate their preference of artwork, list the details of their own art collection and record their method of payment. After the submission period ends, HENI will review all the applications and select buyers, although it is not clear exactly how it makes its determinations.

Damien Hirst at Newport Street Gallery for the grand finale of The Currency.  Photo by Naomi Rea.

Damien Hirst at Newport Street Gallery for the grand finale of The Currency. Photo by Naomi Rea.

Last year, HENI Hirst’s first move into the realm of NFTs platformed on HENI NFT, in which the British artist presented NFTs each linked to one of 10,000 Spot paintings. One year after a purchase, the collector could choose between the blockchain token and the physical work with the rejected piece being burned. HENI NFT has since presented collections from JR and MadC.

HENI also boasts a publishing house, a space for cultural conversation called HENI Talks, HENI Art Club, a membership art community, and a trade department.

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Crazy Mars Squirrel Liberated Market Potential

Los Angeles, California – (NewMediaWire) – December 2, 2022 – Crazy Mars Squirrel is becoming such a popular hit in the NFT circuit once it’s launched. At 9:00 AM BJT, on November 10 (=8:00 PM EST, on November 9) the NFT project Crazy Mars Squirrel was launched on OpenSea. Within just a few hours, the first 100 series of NFTs were quickly sold out and achieved a striking 1st place in terms of trading volume within 24 hours. While the starting bid was 2ETH, Crazy Mars Squirrel has risen to 8.56ETH at the time of writing, a significant increase from the floor price. After continuous growth against the downtrend in the bear market, Crazy Mars Squirrel has become the latest popular avatar set for NFT collectors to compete.

In a bear market, the long-standing downsides and hidden dangers of the NFT industry have come to the fore. The NFT1.0 era, which is characterized by the combination of digital plus photos, while there are no implementation scenarios, has reached a peak. The market is asking strongly for the value-driven NFT2.0 era. In contrast, NFT2.0 projects are based on intrinsic value, which has been their core feature. When expanding the boundaries of NFT, the 2.0 era NFT has given more possibilities.

Crazy Mars Squirrel Rattling the NFT Market.

This shows that the value capture of NFTs mainly comes from cultural value, rarity, the role of communities, narrative value, economic model, etc. Projects with some or all of these characteristics have the potential to succeed and gain recognition – Crazy Mars Squirrel is one of them.

I. Cultural value

Generative art is recognized in terms of artistic value. Similarly, NFT endowed with cultural connotation is more valuable. Crazy Mars Squirrel is distinctive in its universal values ​​and cultural symbols that will lead to the development of digital civilization. At the intersection between industrial civilization and digital civilization, Crazy Mars Squirrel acts in line with human development and is guided by high-dimensional intelligence, gathers a group of people who share the consensus to upgrade cognitions and create value, and guides people to the Metaverse digital civilization.

With the connotation of Web3 and altruistic thinking, Crazy Mars Squirrel builds the culture of the Martian century and shares the benefits of the Metaverse digital civilization. The entire new culture created – the Crazy Mars Squirrel civilization, is first of all materially advanced: Members are equipped with high dimensional cognitions, can understand the development of digital civilization well and act as value investors and leaders of the new business forms. Second, the Crazy Mars Squirrel civilization is an advanced spiritual culture. Its members share a new outlook on the universe and together reform the spiritual value systems and a superior civilization.

II. Scarcity

The laws of scarcity and price in economics still apply here. In the NFT ecosystem, creators usually publish their NFTs as “1 of 1s” or other visions, such as “1 of 10s”, or “1 of 100s”. Crazy Mars Squirrel has a total of 10,000 NFTs, all of which accept the “1 of 1s” model. The first version contains only 100 NFTs with different characteristics and patterns. This is similar to artwork – Each artwork is unique and cannot be sold in parts. We all know that NFT avatars have become a cultural symbol of the Metaverse. NFT holders have simultaneously completed the acquisition and expression of digital identities. Beyond the value of avatars, NFTs carry the exclusive cultural connotation of a particular circle. In the process of digital civilization, Crazy Mars Squirrel adapts to the trend of the times and expresses with a loud voice representing a high-dimensional digital civilization.

III. Empowerment of value

A quality team is a solid foundation for its NFTs value consensus. The founding team of Crazy Mars Squirrel has fully empowered ecological development through co-branding, charity events, IP authorization, holders’ rights and interests, GameFi development and ecological co-construction. By continuously adding vitality and value creation to the ecology, the founding team enables NFT holders to obtain not only immediate benefits, but also long-term income, as well as the cultural value of the project.

IV. New Business Value

Owning a Crazy Mars Squirrel NFT is equivalent to a Pass card to a high-end investor group. As the project grows and expands its influence, the founding team will establish an efficient investment and financing/incubation fund through the Decentralized Autonomous Organization (DAO) to invest in new technologies, new ecology and new models of digital commerce, to expand commercial space and capture more new commercial value from the digital racetrack. The investment income of the Crazy Mars Squirrel DAO Fund will be included in the total income, and will ultimately be shared by all members.

V. Narrative Value

Practicality, entertainment, storytelling, culture and artistry can all capture value for NFT projects. As Crazy Mars Squirrel permeates the wider population, it can be used as an investment target, bringing more privileges to its holders. For this reason, the founding team of Crazy Mars Squirrel planned to include the digital identities to enter the Crazy Mars Squirrel Metaverse, the GameFi characters and the NFT royalties and derivative income. Prospects are expected well.

VI. Implementation application scenarios

The value of NFT projects comes from practical application scenarios. As one part of the project layout, the sci-fi Metaverse GameFi can not only meet the demand of users for games, but also integrate creation, social interaction and immersive experience. From this point of view, Crazy Mars Squirrel has the ability to meet the entertainment and social needs of users. At the same time, it can well formulate a momentum for change while addressing the market pain points, in which users want to increase revenue.

VII. Self-maintaining mechanism

A self-consistent economic system and good innovation ability can provide continuous strength for NFT projects. Crazy Mars Squirrel has an economic system of sustainable profits with a logic model design based on the Mars Century Metaverse. Thirty-five percent of the total revenue of the project will be distributed to NFT holders, allowing all NFT holders to enjoy the significant benefits that project growth brings.

With the launch of its sci-fi Metaverse GameFi, the setting up of a Metaverse Fund and the opening of a Defi market, the application scenarios of Crazy mars Squirrel NFTs will be greatly expanded and liquidity promoted, giving the project a broader market win . Crazy Mars Squirrel NFTs, as the core element supporting the new economic system in the Metaverse society, will also continuously give rebates to investors, who will share the project growth dividends.

Although Crazy Mars Squirrel has only released the avatar NFTs at the current stage, it will not be limited to artwork, collectibles and games. The published roadmap showed his ambition to establish the financial, entertainment, cultural and social scenes that can be implemented in the real Metaverse, and to realize an interconnected ecology where everything in the universe can cooperate with each other.

Create the century’s most powerful NFT tribe, build a Martian lifestyle and lead the new trend of digital civilization! With the advent of the NFT2.0 era, Crazy Mars Squirrel has extraordinary significance in the deep trading market, and will fully demonstrate the high value and potential of the project. The story of Crazy Mars Squirrels has just begun, and is looking forward to bringing more surprises.

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Darkland Exclusive Trailer Teases “Game of Thrones in Hell”

There’s no place like hell for the holidays. On December 6, Emmy and Peabody award-winning producer and creator Evan Shapiro (Portlandia, HarmonQuest) will launch the digital collectible comic series Darklanda twisted black comedy described as “game of thrones in hell.” Like that epic fantasy series, the adult-rated Darkland descends into violence, blood, nudity, sexual situations and mature themes as its fiery power players – Eve, Michael, Satan III, his cousin Samjaza and lieutenant Lucifer – play a “game of thrones” for control of Hell itself. below, comic book has an exclusive look and trailer for the original graphic novel that is being released this week as collectible NFTs, or Non-Swampable Tokens, on Macroverse platforms.

Darkland is intended to have the appearance of game of thronesand the voice of Weep,” said Shapiro. “Frank Calicó’s artwork captures the tone 1000%, and Macroverse is the perfect platform to create a community for a new take on collectible comics.”

The first of five complete books is available December 6th from digital comics leader Macroverse. Four more Darkland collectible comic books, each featuring original NFT issues with rare 3D covers, will be released bi-weekly starting Sunday, December 11 and are available with a subscription through the Macroverse: Next Gen Comics app. New stories will also be available every Tuesday for free on Webtoons.

Created and written by Evan Shapiro with art by Frank Calicó, Darkland is centered around the shifting alliances between the power players in Hell – and the plans they have for Earth.

Satan III is the ruler of Tyre, or Hell, where his grandfather Satan I was killed when he tried to defeat Michael and the Archangels in a war for control of the earth. His son, the rather mad Satan II, was killed by his cousin in a battle for control of Tyre. When Darkland begins, Satan III embarks on a dangerous mission to wrest control of Earth from the humans. Meanwhile, his cousin Samjaza has other plans – to align with other Angels and Satan’s wife Zagiel, to take on a derivative Satan III and gain control of Tire for herself and her Watchers.

The Seven Princes of Hell and the rest of the Archangels play numerous games of multi-dimensional palace intrigue, and accelerate rounds of biblical espionage – all while cutting off heads, eating Humans for lunch, and finding time to satisfy their truly disturbing appetites quiet.

(Photo: Macroverse Media)
darkland-michael.png
(Photo: Macroverse Media)

“Reading and collecting comics has been part of my DNA for as long as I can remember,” said Eben Matthews, co-founder of Macroverse. “With Macroverse, we finally bring comics fully into the digital age and deliver a cross-platform experience that I believe is the future of the art form. The Macroverse TapStory format brings new life to the medium while the Webtoons version is designed for quick and easy mobile reading. Early next year, we will bring true collectability to digital comics with the release of the very first fully formed NFT comics that are a breakthrough in collectible digital entertainment.”

Matthews continued: “It couldn’t make me happier to be in this with Evan and the trailblazer Darkland. It’s a universe unlike anything out there. I can’t wait to unleash this hilariously twisted story on the world.”

While Darkland is his first comic book series, Shapiro’s credits include executive producing or creating series and films such as Night train, What’s your [email protected]%king deal, Take My Wife, HarmonQuest, the Emmy nominee dinner for five, and the Peabody awardee Portlandia. Darkland drops December 6.

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WISe.ART at Miami Art Week to host a whole array of NFTs

WISe.ART at Miami Art Week to Present a Whole Series of NFTs and Web3-Centric Interactions

WISe.ART is proud to work with artists worldwide to ensure that their digital art and physical works are protected. This month we’re looking for more artists at Miami Art Week and Dcentral Miami.

WISeKey’s WISe.ART NFT Platform Features individual NFTs
as Certificates of ownership or as physical packages including an existing tangible asset and a digitally verified certificate of origin.

Nasdaq Tower Video – https://youtu.be/sNU0–z3cXY

Geneva, Miami – November 30, 2022 – WISeKey International Holding Ltd. (“WISeKey”) (SES: WIHN, NASDAQ: WKEY), a leading cybersecurity, AI and IoT company, announced that international artists have joined its WISe.ART NFT Marketplace. WISe.ART NFT Marketplace increasingly sees a future for the tokens that lift the economy of content creation and influence on the Internet.

The WISe.ART team is the ART MIAMI, SCOPE, ARTBASEL AND DCENTRAL attending conferences and events this week to seek out new material and inform major collectors about the importance of NFTs to their existing collection and new acquisitions in digital art.

There are a growing number of display and other support providers to enhance the digital art collections. Savvy collectors are clearly looking for better options to display their digital art and the industry is responding quickly to this demand.

“Beneficiary owners and curators alike should consider tokenizing their collections for security while securing their investments,” said Sixtine Crutchfield, art director of WISe.ART. “Before long, NFTs will be the norm in our daily lives for our personal data and all our valuables. The tokenization of assets will be part of every will in the future. Museums will sign all or part of their collections to raise funds for their research work, exhibition planning and this will be a safety net in the event of new pandemics.”

WISe.ART provides both a secure marketplace and platform where NFT buyers and sellers can easily connect their crypto wallets to instantly buy or list their NFTs. WISeKey has added support for Polygon and CasperLabs blockchains, drastically reducing and even eliminating gas fees for creators, buyers and sellers on the WISe.ART marketplace. WISe.ART ensures interoperability and scalability as part of WISeKey’s overall strategy to act as a leading platform of the Web3.0 revolution.

Responding to the needs of buyers and sellers of high-value goods, the WISe.Art platform has developed a full-fledged marketplace with the ability to include curators and multipliers, white-label options and custom NFT design. VR environments are being explored to offer our collectors and creators the convenience of their own space with private or public access keys. The NFT design of the WISe.Art platform ensures that in addition to an authenticated and signed version of the actual digital asset, an irreversible link to a physical object is established, in addition to proof of ownership, provenance and a set of contracts that describe future use. and monetization streams, if relevant.

Always looking for the latest technology to stay at the top of their game, WISe.ART attends major art and technology events every year. At DCentral Miami, the team participates in workshops on smart contracts and physical contracts that can be included in the NFTs to describe the usage rights of the NFT buyer, including monetization of their collection. We are happy to share the feedback of our experience with our developers who are constantly improving the WISe.ART platform with the latest features. WISe.Art team is working on several projects, including a new type of NFT in a sector parallel to the arts. Follow WISe.Art on social media to learn more.

About WISeKey:

WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large-scale digital identity ecosystems for people and objects using Blockchain, AI and IoT, respecting the human as the fulcrum of the Internet . WISeKey microprocessors secure the pervasive computing that forms today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens, etc. ). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a large amount of big data that, when analyzed with artificial intelligence (AI), can help industrial applications predict the failure of their equipment before it occurs happen. Our technology is trusted by the OISTE/WISeKey’s Swiss-based cryptographic Root of Trust (“RoT”) providing secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions between objects and between objects and people.

For more information, visit www.wisekey.com.

Press and Investor Contacts:
WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Sistine Crutchfield
WISe.ART Art Director
Tel: +41 22 594 3000
[email protected]
WISeKey Investor Relations (USA)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
[email protected]

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements regarding WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to differ materially from any future results, performance or achievements expressed by such forward-looking statements or be implied. -searching statements. WISeKey International Holding Ltd provides this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offer prospectus within the meaning of section 652a or section 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors should rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the future performance of WISeKey.

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Nifter™ Sets $40 Million Funding Round Ahead of Its NFT Marketplace Launch at Art Basel

BEVERLY HILLS, California–(BUSINESS THREAD)–ClickStream Corp. (OTC PINK: CLIS), a technology company focused on developing platforms that disrupt conventional industries, announced that its subsidiary, Nifter™ has raised a $40 million seed funding round to expand its global operations, an international team for hire, promote acquisition efforts, produce tours with A-list entertainers, and conduct large-scale marketing campaigns to brand Nifter™ as a household name.

With Nifter™’s recent BETA, the art market showcased its expansion beyond music and now supports art, video and memorabilia NFTs. Nifter™ also announced the launch of a production arm to work with artists to produce live events, distribute their music/video to iTunes, Spotify, Netflix and other DSPs while using NFTs as event tickets and documenting royalties. These strategic developments, along with the hiring of a powerhouse team of Michael J. Smith as CEO, Michael Handelman as CFO, and Raymond Brothers from RocNation Sports, and the proposed funding will help Nifter™ become one of the largest art marketplaces available. to be publicly traded.

ABOUT CLICKSTREAM CORPORATION

ClickStream pioneers disruptive digital platforms that challenge conventional industries. The company incubates Nifter™, HeyPal, WinQuick, VegasWinners and The LongShot Report.

SAFE HARBOR DECLARATION

This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intend,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results implied by such statements. These factors include, but are not limited to, our ability to continuing to improve our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to compete effectively in our market segment, the lack of public information about our company, our ability to raise sufficient capital to finance our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, and there are other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as of the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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Decoding NFTs | Apollo Magazine

From the December 2022 issue of Apollo. Preview and subscribe here.

When a digital artwork by graphic artist Beeple sold for $69.3 million at Christie’s in March 2021 – about the same price you’d expect to pay for a top quality Rothko – the world suddenly became aware of non-fungible tokens (NFTs). Before long, every art journalist’s inbox was full of press notices about NFT ‘drops’, as releases of new works are called.

In September this year, even the former ‘bad boy’ of British art, Damien Hirst, jumped on the bandwagon with an exhibition of his own NFT project, ‘The Currency’. In the same month, Pace Gallery released its latest collection of NFTs on its platform, Pace Verso, while Christie’s launched an ‘on-chain’ marketplace, Christie’s 3.0. They all capitalize on the fact that sales of art NFTs on the platforms that sell them – OpenSea, NFTX, Larva Labs, LooksRare, SuperRare, Rarible and Foundation – have risen from almost nothing in January 2021 to $17 billion in January 2022, according to Bloomberg.

An NFT is a piece of computer code created using similar software to cryptocurrencies such as bitcoin and ether. They all rely on blockchains – ‘distributed public ledgers’ that allow ownership of an asset to be verified across a global network of individual computers without central control. In most cases, the NFT is not the artwork itself. Instead, it ‘points’ to a digital file – anything from an artwork to a video, a recording or a design – that can be bought and sold with a cryptocurrency, usually ether. Because each NFT is unique, unlike a bitcoin, it allows the buyer to claim ownership of the original digital work, however easily the image file itself can be copied.

But just as NFTs seemed to be booming, the bubble burst. Sales of art NFTs stood at $466 million in September, a 97 percent drop since January of this year. This reflects the crash in the cryptocurrencies that NFTs are linked to. The value of bitcoin has fallen by more than 70 percent to below $20,000 from its peak of more than $69,000 in November 2021. The collapse of FTX casts even further doubt on the direction of cryptocurrencies. There are also signs of faltering auctions. At a recent NFT auction by Sotheby’s Hong Kong on November 1, five of 21 lots failed to sell, while 10 went for less than their low estimate.

So are NFTs the flash in the pan that many suspect, or could they have longer-term cultural value?

‘I’m not unhappy that there was a crypto and NFT crash and that the hype is over,’ says Sabine Himmelsbach, the director of the new media gallery the HEK in Basel. ‘From the beginning, everyone was only talking about the money and not about the quality of the work. In most cases, a JPEG, a GIF or a small video clip attached to an NFT is not very interesting.’ She says she is ‘much more interested in more conceptual approaches by artists who delve into the inherent possibilities of the blockchain’ and work that critiques what she calls the ‘bro culture’ that pervades the NFT world. The HEK has just created its first NFTs with veteran media, feminist and environmental artist Ursula Endlicher, who has been making digital art since the 1990s.

Jason Bailey – an artist and writer who came from the traditional art world but is also the founder of ClubNFT, which is designed to protect collectors’ digital works of art – is an evangelist for what he calls ‘the interaction between digital technology and art’ mention. He believes the influx of ‘many new people coming in, not necessarily with a background or understanding of art but a lot of enthusiasm’ is a reason for celebration.

Bailey points out that a plethora of different types of people make NFTs, including trained artists who feel failed by the current art market. ‘There is a global community of artists, many who make no money from the current art world system, who have come together and formed an entirely new market that is in many cases more fair and empowering for them,’ he says. “There are a lot of people selling work for $10, $15, $20. It’s not going to make the front page ART news but cumulatively it is a revolution.’

Installation of Hito Steyerl’s live computer simulation Social Sim 2020, at the Center Pompidou, Paris, in 2021. Courtesy of the artist, Andrew Kreps Gallery, New York and Esther Schipper, Berlin; © Center Pompidou / Bertrand Prévost

These opposing views may explain why the art world finds NFTs so confusing. They are made by many groups of people in many genres, from high art to pop culture. Many of the most discussed NFTs are based on cartoons, sci-fi images, psychedelia or surrealism. In many ways they are not so different from street art – another popular visual language with its own communities, codes and references that was briefly co-opted by the mainstream art world in the market boom of the mid-2000s.

Many makers come from graphic design, animation, programming, computer game design, and other parts of the tech world. Most promote their work on social media platforms such as Twitter, Telegram and Discord. Self-taught like many NFT artists, Beeple had nearly two million followers on Instagram before his record-breaking Christie’s sale. He previously sold NFTs for around $100,000 each on the NFT platform Nifty Gateway.

Noah Davis, who was the contemporary specialist at Christie’s behind the $69m Beeple sale and is now head of brand at CryptoPunks, admitted that the New York Times last year that some [NFTs] look like they belong in a head shop, on a dorm wall or on a message board.’

Ironically, NFTs have their origins in the contemporary art world. In 2014, an artist and a technologist, Kevin McCoy and Anil Dash, created the first one, with the aim of protecting digital artists’ rights. McCoy, along with his wife Jennifer, are established new media artists with work in the Museum of Modern Art, New York, and the Museum of Fine Art, Houston. Last year Dash joined the Atlantic Ocean that ‘the idea behind NFTs was and is profound. Technology should enable artists to exercise control over their work, to sell it more easily and to better protect against others appropriating it without permission.’ But the dream, he wrote, ‘has not yet come true’. As the article says, ‘tech-world opportunism has struck again’.

New media art, in contrast to NFTs, has a long history. It goes back at least as far as Robert Rauschenberg’s 1966 Experiments in Art and Technology, which paired artists with engineers from Bell Telephone Laboratories. Bruce Nauman, Nam June Paik and Manfred Mohr were other early new media pioneers.

For decades, new media art was considered difficult and conceptual. Interest has centered on a handful of specialist institutions, such as the ZKM in Karlsruhe and festivals such as Ars Electronica in Linz. There was a flurry of museum exhibitions around the first dot-com boom, including ‘BitStreams’ and ‘Data Dynamics’, both at the Whitney Museum of American Art in New York, and ‘010101: Art in Technological Times’ at the San Francisco Museum of Modern Art, in 2001.

It is only in the last five years that artists such as Hito Steyerl, whose work draws on computer games, military technology and surveillance cameras, have gained mainstream prominence. Steyerl joins a handful of artists such as Jon Rafman, Ian Cheng and Camille Henrot whose work uses and critiques contemporary technologies and has become a regular part of the international biennial circuit.

But now they are joined by artists whose work grew out of NFTs. bitforms, one of the longest running new media galleries in New York, recently signed two stars of the NFT world, Refik Anadol and Tyler Hobbs. Anadol, a Turkish-American artist, uses artificial intelligence to transform large data sets into immersive sensory experiences. Hobbs, a Texas-based painter, creates custom algorithms to generate refined abstract works of digital art. Meanwhile, Sarah Friend, a Berlin-based artist who uses NFTs, Minecraft and the Internet, comments on NFT culture: her series of Life forms NFTs are only kept ‘live’ if owners give them away within 90 days.

Alex Estorick, the editor-in-chief of Right click Save, an online magazine designed to create a critical context around NFTs and new media art, says: ‘What we have seen this year is that the crypto and mainstream contemporary arts are merging. It is one of the benefits of the crypto crash that the hype and the argument that NFTs are really just a speculative vehicle has washed away.’

Despite the volatility of the crypto markets, NFTs are clearly here to stay. But the NFT art market seems to have taken offense
a large part of the traditional art world with its pop culture aesthetic, brutal commercialism and its ability to circumvent the traditional system. The huge prices paid for little-known and sometimes derivative artists have raised uncomfortable questions about the way art is valued.

But mistrust runs both ways. Early NFT artist Robness spoke for many when he said that traditional art market players were ‘only here because they saw the dollar signs. They weren’t here to support us from the beginning. This is something I constantly remind new people into this [the NFT] space left,’ he said Right click Save.

There are clearly millions of buyers for NFTs, and while most of the work is trivial, the same is true for physical works of art. Perhaps NFTs can be seen as the latest development of new media art, as the best practitioners in both fields begin to cross over. Instead of dismissing, perhaps the traditional gatekeepers who decide the cultural value of art should apply their critical faculties and not just their marketing skills to digital art and NFTs. The NFT market is huge and although it only partially permeates the mainstream art world, the possibilities for educating an entirely new audience in fine art have never been greater.

From the December 2022 issue of Apollo. Preview and subscribe here.

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Pearl Lam and Basma Al Sulaiman on their feisty, art-fuelled friendship

We met because Basma and one of my friends shared a divorce lawyer!” Gallerist Pearl Lam and her friend Basma Al Sulaiman have a good laugh as they sit in Al Sulaiman’s impressively decorated, art-filled London home. Lam recalls their first meeting around 2004 while drinking tea: “The lawyer introduced my friend to Basma and said: ‘If you collect Chinese art, you should meet Pearl.’

With her gravity-defying purple bob – paired when we meet with a lemon yellow sweater – Lam has been involved in the Chinese art world for nearly 30 years. In 1993 she began collecting Chinese art; in 2005 she opened her first physical space in Shanghai and since 2012 has a second Pearl Lam Galleries space in her hometown of Hong Kong, representing home-grown and international artists from pioneering Chinese abstract painter Zhu Jinshi to British-Nigerian artist Yinka Shonibare.

The duo in front of Hamdi & Hamada, 2009, by Adel El Siwi © Joshua Tarn

Al Sulaiman, born in Saudi Arabia, meanwhile began collecting contemporary art in the 1990s. Her first purchase was a Hockney, and today she owns over 800 works ranging from high-profile international artists such as Ai Weiwei, Tracey Emin and Andy Warhol to Saudi artists. In 2000 she moved to London and completed a diploma in modern and contemporary art from Christie’s Education. That’s when she became interested in Chinese art. “A Saudi who collects Chinese art!” exploded Lamb. “You know? It was so strange to me. And she bought political pop art.” She shook her head. “I thought, ‘Why?'”

“Because it was different from what I had seen; it was fresh, it was human, it was real,” says Al Sulaiman, who has never worked with an art advisor and was introduced to Chinese art through a friend. “He called me and said, ‘Basma, there’s this amazing artist, I love his work, but it’s too big for my house, would you be interested in seeing it?'” The artist was Yue Minjun in Beijing. , now known for his “Cynical Realist” oil paintings depicting himself laughing, his face frozen in a demonic grin. Al Sulaiman bought the painting Face on the land in 2003 for £40,000. In 2007, when Sotheby’s London auctioned Yue’s seminal 1995 work inspired by the Tiananmen Square massacre, Executionsold it for a record-breaking £2.9m – the highest price for a contemporary Chinese work of art at the time.

Mao by Ren Si Hong, and After Marsyas by Anish Kapoor

Mao by Ren Si Hong, and After Marsyas by Anish Kapoor © Joshua Tarn

Dinosaur by Sui Jianguo

Dinosaur by Sui Jianguo © Joshua Tarn

“People started buying contemporary Chinese art in 1995,” explains Lam. “In the early 2000s – when Basma was there – it was just a very interesting, exciting time. There was this vibrant art scene, the government didn’t endorse it, and there were only a handful of Chinese collectors – so tourists went there to buy art as a souvenir because the prices were low. However, after about 2006 it went crazy.” Before then, Al Sulaiman often traveled to China and discovered artists while visiting her daughter, who was working in Shanghai. But she first met Lam at a dinner in London. The two clicked immediately – but more about what they disagreed on than what they did, says Lam. “Basma loves political pop; i don’t I consider political pop to be the Western definition of Chinese contemporary art. And Basma likes figurative art; i don’t But when you’re talking about art, it’s much better to have two different opinions,” she says.

The first piece Al Sulaiman bought from Lam was by Shao Fan – “a deconstructed Chinese chair, assembled as a sculpture. And finally she bought Chinese abstracts,” says Lam, referring to two works in Al Sulaiman’s house by Zhu Jinshi in Beijing, a pioneer of Chinese abstract painting who cakes his canvases in heavy, impasto layers.“He uses a shovel to throw up the paint,” says Al Sulaiman, standing in front of a large-scale triptych ​​which she bought in 2015. “It’s so beautiful. If you think of it as a landscape, you can see it, you can feel it.”

In fact, abstraction is well represented in her home, and two minimalist, multi-framed works dominate the living space: the first, consisting of nine pink Plexiglas squares, is by the French conceptualist Daniel Buren (Framed colors, 9 Magenta elements2007), and the other is a series of two-tone paintings (Homage to Le Corbusier, 2000) by the German modernist Günther Förg. On the other side of the room is a large work by Ghanaian artist El Anatsui, his undulating, almost 5m tall form constructed from bottle tops tied together with copper wire. “I bought it in 2012, but it wasn’t until I moved in here in May that I could see it,” she says. “This is one of the reasons why I bought this place: I needed big walls.” The art is all displayed, slightly unconventionally, alongside 18th-century antique furniture – from France, Italy and England – and French Aubusson tapestries. “Pearl doesn’t like my carpets,” smiles Al Sulaiman.

Tea and cake served on Herend porcelain
Tea and cake served on Herend porcelain © Joshua Tarn

The other place where Al Sulaiman’s collection lives is online. In 2011, she launched Basmoca, a virtual museum that can be walked around by an avatar. “I wanted to share the collection, but the concept of building a physical space back home in Saudi Arabia was a bit difficult at the time,” she recalls. Instead, she explored the idea of ​​creating a space within the online multimedia platform Second Life, but ended up building her own virtual world.

“Basically, Basma was doing metaverse before anyone else was doing metaverse,” says Lam. “But it was like gibberish to people,” adds Al Sulaiman. “Nobody understood it at the time, it was way too early. Now everyone does it of course.” Earlier this year, she showed a portion of her Saudi art collection in a physical space – inside Maraya, a striking, mirrored building in Saudi Arabia’s historic desert canyon site AlUla.

Al Sulaiman has also dipped her toe into NFTs. She pointed to a screen on the wall. “It looks like Monet’s Water lilies,” she says of the digital work by Italian artist Davide Quayola, which plays on a loop and is surrounded by a wall of portraits – most are “classic”, but there is one with a cat’s head. “It’s supposed to be Mao,” she says of the painting by Shanghai-born artist Qiu Jie.

Little Red Book Series – 192 Ceramic Pieces by Xu Yihui

Little Red Book Series – 192 Ceramic Pieces by Xu Yihui © Joshua Tarn

“It’s unusual for traditional art collectors to buy NFTs because they have no museum credentials,” suggests Lam, adding that the cryptocurrency crash earlier this year led to a weaker market for NFTs, but that they still have a role. to play for a younger generation of artists and collectors. “There are young artists selling NFTs for $50 or $100. This is democratized art. And if it is not NFT, another way of technology will emerge.”

One of the artists Lam represents is London’s Philip Colbert, a self-titled “pioneer of the metaverse” who launched the NFT project The Lobstars this year. And an artist Lam would like to introduce to Al Sulaiman is Mr Doodle, aka British artist Sam Cox, who recently covered his entire house in Kent in his graphic, graffiti-like images; the stop-motion video of the process was watched almost 2mn times on YouTube. “I did check on him after you told me,” Al Sulaiman said to her friend. “It’s very different. Interesting…”

“I know some of these things are not your aesthetic,” says Lam, “but I think they are interesting because they are the new generation of artists. Our minds must be very open – my gallery mission is about cultural exchange.”

Both women describe each other as “open-minded”, and they often travel together, visit art fairs and discover new artists. A few years ago they went to Japan with friends – to Tokyo and the island of Naoshima. They took a trip to Saudi Arabia earlier this year – a first for Lam. They also recently discovered an artist they are equally passionate about: Maha Malluh. “Her work is all about found objects, about memories and history,” says Al Sulaiman, walking towards a sculpture constructed from old enameled cooking pots. Another artist they agree on is Babajide Olatunji, whom they bumped into at the Art Dubai fair, and whose work Lam bought on the spot – a charcoal and pastel portrait that is hyper-realistic yet depicts an imagined sitter . Lam will showcase the Nigerian artist at her Shanghai space next year, while another of his drawings has been made on Al Sulaiman’s walls (via Sotheby’s, for £10,000).

Other works in Al Sulaiman’s collection include figurative paintings by the Egyptian artist Adel El Siwi (Hamdi and Hamada, 2009) and Jonathan Wateridge in Norfolk. But just as Lam sees herself as a conduit for a diverse cross-section of artists in China, Al Sulaiman’s ultimate dream is to bring her eclectic collection to a permanent space in Saudi Arabia, where in 2014 she became the first woman has received an award from the government for her contributions to the country’s arts and culture spheres. “Culture is a bond,” she concludes. “It binds people in a special language that doesn’t need a translation.”

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