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NFT heist: Azuki Twitter hack drains over $750K in 30 minutes
Proofâs Grails III artist lineup, Refik Anadolâs AI art, plus more top stories
đ¨ Metaproof Art
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đ˛ By the numbers
NFT open editions (OEs) are on the rise. Some numbers (Source):
OEs are NFT drops with no set supply limit, allowing collectors to mint as many tokens as they want within a certain period, usually within 24, 48, or 72 hours.
An example: Isaac âDriftâ Wright, the NFT photographer who dropped First Day Out in April 2022 as a 24-hour open edition to commemorate his release from prison 1 year earlier.
Zora is an NFT marketplace protocol that has played a significant role in the OE craze. Since launching its Creator Toolkit in May 2022 and giving users a no-code-required way to mint and drop NFT collections, nearly 240,000 unique wallet addresses have minted an edition of some kind, either fixed-sized or open edition.
đŤ News & trends
NFTs are all the rage in the art world, and the latest collection to make waves is the Grails III collection from Proof. Weeks of anticipation has led to the announcement of the 20 artists behind the collection, including generative artist Matt Kane; All Seeing Seneca, the digital artist that helped craft art for Bored Ape Yacht Club; and Josie Bellini, founder of NFT collection Cyber Brokers.
The collection opened its mint passes for collectors to purchase ahead of the artwork reveal. This is the third iteration of Proof's mystery NFT compilation series, and it's already generating a lot of buzz. However, it's worth noting that the purpose of the collection is to let the digital work speak for itself, rather than relying on the creators behind it.
Proof is a prolific player in the NFT ecosystem, landing itself on the map for its Moonbirds NFT collection, which raked in $200M in sales upon its release in April.
A recent scam involving the gold-checked Azuki Twitter account has resulted in the theft of over $750,000 worth of USDC, 11 NFTs, and 3.9 ETH. The details:
The malicious link was disguised as a "land mint" for the Azuki NFT project, tricking a single user into sending the funds to the attacker's wallet.
MetaMask and Phantom wallet have marked the malicious domains as unsafe.
The Azuki team is in touch with Twitter in an attempt to regain control of the account.
This isn't the first time the NFT collection has been targeted by scammers, highlighting the importance of being cautious when participating in the NFT space. The call of the times: Stay safe and vigilant!
To the delight (or mere curiosity) of both art lovers and tech enthusiasts, the Museum of Modern Art in New York City is currently showcasing the AI-based art installation Refik Anadol: Unsupervised, which combines immersive installation, NFTs, and generative AI using a machine-learning model trained to interpret the publicly available data of MoMAâs collection. By using this data, the installation creates a new way of exploring and understanding the museum's collection, potentially providing an alternative to traditional art history.
While the installation has been met with praise for its innovation and unique use of technology, some have raised questions about its operation and lack of emotional resonance. The exact workings of the machine-learning model used in the installation are not fully clarified, leaving some viewers unsure of how the art is being generated. Additionally, some have criticized the installation for not evoking any emotional response from the viewer.
Amid criticism, Refik Anadol: Unsupervised emerges as a thought-provoking and groundbreaking installation that pushes the boundaries of what is possible in the world of art and technology, particularly with the evolving use of AI in the art world and innovative and impactful installations yet to be created. At any rate, his background positioned Anadol as one of the biggest stars of the NFT art scene during the crypto boom of 2021. MoMA also gets a percentage of the sales of the digital artworks: 17% of primary sales and 5% of secondary.
Tonic, a new fine art platform, aims to provide a safe and welcoming space for both crypto connoisseurs and newcomers to discover and collect NFTs. Helmed by Susannah Maybank, Gagosianâs former head of digital, and Mariam Naficy, founder of design marketplace Minted, the platform offers its inaugural collection Chromesthesia: Ascend, a generative art series by artist Jaime Derringer, who will serve as the platformâs head of community. The series sees the Design Milk veteran apply algorithmic disruptions to her original works on paper and digital paintings, generating entirely new pastel abstractions.
Tonic's approach of bridging the gap between digital and physical, and championing artists who show evidence of the makerâs hand in their work, speaks to its ethos. Tonic also strives to convert NFT collectors to collectors of physical works. "The growth of a new generation of art collectors is really important," Naficy told Artnet News. "We see the potential of accelerating the onboarding of new people into believing in art and actually collecting art."
In the world of web3, artist Guido Disalle is making a name for himself by capturing the female form in fine art fashion. Disalle has had a long career in the art world, starting out as a hairdresser before becoming a successful photographer and now finding a home and audience in the web3 space. His eye for design has taken him down a storied path of high-profile deals, with a top-grossing NFT photo producing over 1,000 Ethereum in secondary sales (about $1.6M at press time).
Disalle believes that the industry needs to shift its terminology. He argues that the term "NFTâ is limiting and doesn't fully capture the potential of the technology. He also believes that the term "open edition" needs to be better understood in the web3 world.
While these terms are widely used and understood in the web3 industry, Disalle's perspective adds an important nuance to the conversation. As the technology continues to evolve, it's crucial to consider all points of view and continue to refine our understanding.
NFTs are revolutionizing the world of art as we speak. But what happens when you add a fourth dimension to the mix? That's exactly what the upcoming event in London, titled Exploring 4D NFTs, aims to uncover.
The February 15 event will delve into the development of art, the metaverse, AI, and how to invest in NFTs, exploring the potential of 4D NFTs and how they can be used to create truly unique and valuable digital artworks. One of the key highlights of 4D NFTs is the ability to infuse ancient cultural influences into contemporary digital artworks, creating something truly unique and valuable that can be collected and enjoyed for generations to come.
Don't miss out on this opportunity to learn about the future of art and 4D NFTs as the event presents engaging speakers and conversations, in addition to a special contest where guests can win a one-of-a-kind NFT when they show up in person and take part in an interactive activity.
The Albright Art Gallery in Buffalo made history in 1910 by hosting America's first photography show. Now, more than a century later, the gallery's descendant, the Buffalo AKG Art Museum, is pushing boundaries by embracing NFTs. The museum is currently hosting an online show called Peer to Peer, which puts 13 contemporary artists in conversation with works from the museum's collection. The works featured in the exhibition have been minted on Ethereum, making AKG the latest museum to tap into NFTs as a revenue source.
The museum's director, Jane Doe, said that the decision to include digital art as part of the museum's regular acquisitions, exhibitions, and public programming was not taken lightly. "We believe that NFTs are a legitimate form of art and are excited to explore this new medium," Doe said. Not everyone may be convinced, though, questioning the legitimacy of NFTs as an art form or believe museums should focus on physical artworks rather than digital art.
The world of art is undergoing a digital revolution, and at the forefront of this change are NFTs, digital assets that use blockchain technology to create unique, one-of-a-kind pieces of art. One example is Concept2048 from creative duo Ekaterina Perekopskaya and Rostyslav Brenych, a collection of 2048 digital art pieces released in a batch of only 256, with each piece being sold as a unique NFT. The first batch of NFTs sold out in mere hours, with some pieces fetching prices in the tens of thousands of dollars.
While NFTs have the potential to revolutionize the way we think about digital art and ownership, there are also concerns about security and the potential for fraud. Additionally, there is the potential for NFTs to be used for unethical purposes, such as creating counterfeit art or other illegal activities.
As the technology continues to evolve, we can expect to see more and more unique digital assets being created and sold, and perhaps to be more cognizant of the potential risks while ensuring proper security measures are in place to protect buyers and creators alike.
The use of AI in art has been met with criticism due to the unethical way in which data is collected and used to generate art. To boot, the increasing difficulty of telling the difference between AI-generated art and art created by humans poses a challenge for the art world as it navigates the new technology. AI audio and video generators are not far behind in terms of development, raising concerns about the impact on musicians and filmmakers. The prospect of companies behind AI generators soon facing copyright infringement cases in court looms large.
Despite the ethical concerns and legal challenges, some artists are embracing the use of generative AI in their artwork, citing the potential for new forms of expression and collaboration. An artist doesnât expect small cues an average viewer can use for AI art identification to stick around very long either; multiple artists agree such telltale signs will become less evident as the technology progresses, and the developers behind those tools adjust them to address common complaints like dead eyes and too many fingers.
As the use of AI in art continues to evolve, it's important to consider the ethical implications and how to distinguish human-made from machine-made art. Stay tuned for further developments in this field.
Art Blocks and Bright Moments are joining forces to change the way generative art is minted and displayed in the real world, bringing together Art Blocksâ technical know-how and Bright Momentsâ curation skills to offer artists a platform to showcase their work in new and exciting ways.
The first release of the collaboration will feature Metropolis by mpkoz, which will present on-chain traits tied to each of the Bright Moments locations around the world, including Los Angeles, New York, Berlin, London, and Mexico City. Itâs a peek into how the collab will be providing collectors with a one-of-a-kind opportunity to experience generative art in a whole new way, curating artists and giving them access to cutting-edge minting technologies and IRL experiences.
Stay tuned for updates on the first release and more exciting projects up ahead!
In recent years, the digital art market has seen a surge in popularity, with NFTs playing a key role in its growth. While digital art has existed since 2005, it has long been undervalued in the fine arts market; NFTs have changed this by providing digital security and a platform for creators to profit from their work.
While it's true that not all digital art sells for a million dollars, the rise of NFTs has led to a new era of financial possibility for digital artists. Furthermore, the advancements in technology have allowed digital art to reach a larger audience, making it a viable career path for artists.
The rise of digital art and NFTs is redefining the art industry and providing new opportunities for creators. While there may be criticisms including a limited audience for digital art, the potential for financial success is undeniable. As technology continues to advance, it will be interesting to see how this industry evolves and the impact it has on the traditional art world.
Blockchain Open4All Malaga, CryptoVerse Island, and WISeKey are teaming up to host the Cryptoverse Island NFT Exhibition in Malaga and Madrid, Spain to showcase NFT art created by leading artists such as Javier Ares and Gala Mirissa and to be auctioned on WISeKey's NFT platform WISe.ART.
In addition to the art exhibition, the event will also feature conferences on ART & NFT, blockchain, web3, and the metaverse. Attendees will have the opportunity to learn from experts in the field and engage in discussions about the future of digital art and the potential of NFTs.
Touted as one of the first European NFT art exhibitions focused on crypto art, Cryptoverse Island will showcase investment and collection pieces for sale on large, high-tech screens and high-definition graphic projectors.
Web3 company I Am Myriad has launched the NFT collectionAmesweh Aliens, a collaborative project with 14-year-old Naomi John O. and based on NJO Creations anime art style. This is a set of 2,222 NFTs based on four alien races, each with its own distinct philosophy: Zahrab, Azrachola, Lahdom, and Humora, each with different philosophies namely rivalry, dominance, vengeance, and harmony. The Amesweh Aliens NFT collection is built on the Binance Smart Chain (BSC) network.
The company is also pushing hard into the space with its own NFT marketplace, where users can buy the varied authentic NFT collections the team plans to offer. Users can connect to the marketplace with any compatible wallet, like MetaMask or Trust Wallet and then select a particular NFT to buy and follow the straightforward on-screen prompts.
TĂš.Ăşk'z (âdeliriously wild, borderline-deranged, psychedelic multi-sensory outburstâ), Rob Evans (âstraddling the physical/digital realms for 40 years as a full time artist/independent curatorâ), cnnnr (âpsycho-conceptualistâ), and The Isolationist (âtransformed tearsâ) are some emerging and sought-after artists included in NFT art marketplace SuperRareâs weekly roundup of figures to watch in the NFT space.
SuperRare is a self-described community revolutionizing the economics of human creativity. It seeks to empower artists by helping them earn perpetual royalties on their creative work; stay independent with custom smart contracts, instant payments, and direct relationship with their audience; and create freely without censorship or exploitation.
đ¨âđ¨ How artist duo Thukral and Tagra contrast natural with the digital in their latest show, Arboretum
In Arboretum, the latest show from artist duo Jiten Thukral and Sumir Tagra, the artists explore the concept of nature consumption in the digital age. Through a series of photorealistic works, the show features bright pink flowers of the bougainvillea plant, soft green leaves of the Japanese cheesewood, and scattered foliage of the white fig tree, all rendered with striking detail.
The artists drew inspiration from key pieces of sci-fi literature for the show, which presents a unique blend of the natural world with the ever-present digital realm. Itâs worth pointing out, though, that the show also raises ethical questions about the role of AI in art and the potential for it to take jobs and create a digital divide in society.
Despite these debates, Arboretum offers a thought-provoking look at the intersection of nature and technology, and is not to be missed.
Beepleâs sale of NFT artwork EverydaysâEverydays: The First 5000 Days for over $69.3M at Christieâs online auction in March 2021 disrupted the contemporary art market and represented a new era of exhibiting, selling, and collecting digital art.
The international scholarly open-access journal Arts is now inviting submissions for the Special Issue âNFTs, Blockchain, Cryptocurrency, Metaverse: The Web3 Revolution that Has Transformed the Art Marketâ. It welcomes original academic papers (6,000-8,000 words), based on either qualitative or quantitative research methods, that reveal how the web3 art market players, including artists, art galleries, art fairs, act auctions, art collectors, and art marketplaces, have endorsed the phenomena of NFTs, blockchain, cryptocurrency, and metaverse.
Interested contributors can send a short abstract (250-300 words) alongside their CV to Dr. Elena Sidorova ([email protected]) by March 19, 2023. The submission deadline for full-length articles for peer review is set for June 1.
đ¸ Finance buzz
Metaverse platform NFT Oasis announced that it has selected Vatom as its strategic partner in building the future of its Metaverse-as-a-Service (âMAASâ) ecosystem, tapping into the web3 SaaS platformâs tech enablement. Since its April 2021 launch, NFT Oasis has helped visual artists and filmmakers share their work with the world via NFT Oasis art walks. (Source)
NY-based creative agency WB+TDP opened a finished art division that will include the creation of illustrations for reproduction, printed, or digital materials. New services it has added to its roster included a dedicated VR and AR division to create gaming and metaverse content in 2021 and NFT digital production in 2020. (Source)
đŁď¸ Quote of the week
âTo be completely honest I think the term âNFTâ has to go. I think once we eliminate that term, we will onboard more trad-minded collectors, which is of the utmost importance in terms of long-term sustainability.â
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