Digital art and NFT want the moon to land on Art Basel – Investir

The Pace gallery has announced the first piece of a series of sculptures that the artist known for his balloon dog and his moon tulips with SpaceX, Elon Musk’s space exploration company.

Jeff Koons, one of the most expensive living artists in the world, plans to install 125 miniature versions of these sculptures called “Moon Phases” on the moon with a photo of their location, which will be sold as an NFT ( Non -fungible token, or non -fungible token).

Buyers will also receive a life-size sculpture, set with a gemstone to mark its location on the moon.

“We are also discovering this for the first time”, enthuses Marc Glimcher, the gallery’s director, who displayed the 39.4 cm moon-shaped statue, which is new to its stand in Basel.

Pace is one of the few major galleries to venture into NFT territory. According to Clare McAndrew, author of the art market report for Art Basel, only 6% of galleries will sell NFTs in 2021.

Highly speculative, their prices have risen since being sold last year at Christie’s auction house by an NFT of American artist Beeple for 69.3 million dollars (66.3 million euros at current rates).

But since rising in August 2021, NFTs have fallen. While NFT’s art -related sales volume rose to $ 945 million in August, they fell back to 366 million in January and then 101 million in May, according to Clare McAndrew statements.

These ups and downs are not, however, deterring the Pace gallery boss, who is convinced that NFTs are a sign of a burgeoning market for digital art. He compared their redundancies to the dotcom bubble in the early 2000s.

“Of course, it’s a bubble. But we still have the Internet today”, argued Marc Glimcher during an interview with AFP, seeing it as a “new method for distributing digital art”. .

Louise Bourgeois’s spider at 40 million

For this edition, the organizers of the fair have partnered with the blockchain platform Tezos, which presents digital works of artists, new versions of which are generated by machine learning in the form of NFTs. Visitors can go and download one for free from its stand, though some resell them once they leave the fair.

On its side, the ViveArts platform offers for its part a dive into digital art using augmented reality glasses, specifically depicting the avatar of German artist Albert Oehlen in a 3D universe.

In the aisles of the fair, French gallery Edouard Montassut sold a digital work by Turkish artist Özgür Kar representing a man surrounded by three skeletons reminiscent of the bas-reliefs of churches, but in a liquid crystal screen.

“I think NFTs will have a place in the market in the future,” Art Basel director Marc Spiegler told AFP, even though their prices have “fallen recently” as artists experiment with digital tools.

In the immediate future, the efforts that wealthy collectors can put into their living rooms will return in large numbers: a spider by Franco-American sculptor Louise Bourgeois stole 40 million dollars, a work by conceptual artist Félix Gonzalez -Torres went. for 12.5 million, an oil canvas by German Georg Baselitz was sold for 5.5 million.

“The environment – obviously despite the complex global context in the war in Ukraine and the general economic situation – is great”, welcomed the boss of the fair.

The fair, held from June 16 to 19, brings together a myriad of authentic works, from a massive bronze statue by British Thomas J. Price to an installation by Franco-Chinese artist Huang Yong Ping who represents a kitchen dotted with large cockroaches or a series of wood carvings by Franco-Cameroonian Barthélémy Toguo.

The Pace gallery has announced the first piece of a series of sculptures that the artist known for his balloon dog and his tulips on the moon plans to send with SpaceX, Elon Musk’s space exploration company. Jeff Koons, one of the world’s most expensive living artists, plans to install 125 miniature versions of these sculptures called “Moon Phases” on the moon with a photo of their location, to be sold as an NFT (Non- fungible token, or non-fungible token). fungible). Buyers will also receive a life-size sculpture, set with a gemstone to mark its location on the moon. “We are also discovering this for the first time”, enthuses Marc Glimcher, the gallery’s director, who displayed the 39.4 cm moon-shaped statue, which is new to its stand in Basel. Pace is one of the few major galleries to venture into NFT territory. According to Clare McAndrew, author of an art market report for Art Basel, only 6% of galleries will sell NFTs in 2021. Highly speculative, their prices have risen since last year in selling Christie’s house at auction by an NFT by American artist Beeple for 69.3 million dollars (66.3 million euros at current rates). But since rising in August 2021, NFTs have fallen. While NFT’s art -related sales volume rose to $ 945 million in August, they fell back to 366 million in January and then 101 million in May, according to Clare McAndrew statements. These ups and downs are not, however, deterring the Pace gallery boss, who is convinced that NFTs are a sign of a burgeoning market for digital art. He compared their excesses to the Internet bubble in the early 2000s. “Of course, it’s a bubble. But we still have the Internet today,” argued Marc Glimcher in an interview with AFP. seeing it as a “new technique for distributing digital art”. For this edition, fair organizers have partnered with the blockchain platform Tezos, which presents digital works by artists including new versions generated through machine learning in the form of NFTs. Visitors can go and download one for free from its stand, though some resell them once they leave the fair. On its side, the ViveArts platform offers for its part a dive into digital art using augmented reality glasses, specifically depicting the avatar of German artist Albert Oehlen in a 3D universe. In the aisles of the fair, French gallery Edouard Montassut sold a digital work by Turkish artist Özgür Kar representing a man surrounded by three skeletons reminiscent of the bas-reliefs of churches, but in a liquid crystal screen. imagine that NFTs will have a place in the market in the future, “Marc Spiegler, director of Art Basel, told AFP, even though their prices have” fallen recently “at a time when artists are multiplying experiments using digital tools.In the immediate future, the industriousness that wealthy collectors can put in their living rooms is back in large numbers: a spider by Franco-American sculptor Louise Bourgeois has sold for 40 million dollars, the a work by conceptual artist Félix Gonzalez-Torres was worth 12.5 million, a German oil on canvas Georg Baselitz was sold for 5.5 million.complicated global context including the war in Ukraine and the general economic situation – is great “, welcomed the boss of the fair. The fair, held from June 16 to 19, brings together a myriad of authentic works, from a massive bronze statue by British Thomas J. Price to an installation by Franco-Chinese artist Huang Yong Ping who represents a kitchen dotted with large cockroaches or a series of wood carvings by Franco-Cameroonian Barthélémy Toguo.

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