Art Market Report - October 1
A weekly report on the NFT Art Market, covering 1/1s, generative art, editions and other important news.
In partnership with Alpha Centauri Kid, Transient Labs announced a new hardware innovation T.R.A.C.E. - Tokenized Records for Artwork Certification and Evolution. Secured with and enabled by the blockchain, it’s a new standard for provenance, authentication, evolution and documentation. A digital certificate of authenticity, embedded in, inextricably linked to and owned by a physical object, with the ability to inscribe stories (sales, exhibitions, media mentions) to the provenance of the object, with signing capabilities for on-chain verifications, TRACE will have broad implications across physical and digital objects and create a new layer of security and historical records for art, collectibles, and more. Bringing NFT’s underlying technology to the physicals, TRACE is a major step towards the adoption of blockchain by the traditional art world and the bridging of the digital and physical practices.
Learning Nature (b40,2968,5) by David Young was collected for 10 ETH on SuperRare’s secondary market. An AI artwork generated by a GAN trained on images of flowers, the piece was another resurfaced early work minted in 2018.
GENERATIVE ART & EDITIONS
Fewos had 167 ETH trading volume on OS this week since the drop on Sept 26. The reveal will happen on Oct 2.
Velocity Series: Velocity Pass had 153 ETH (+132%) trading volume on OS this week, after the successful Pursuit by Per Kristian Stoveland drop and in anticipation of the upcoming SnowFro drop. Learn more about the pass here.
726 editions of Dmitri Cherniak Ringers #962: The LACMA Iterations were sold on Avant Arte at the price of $863 each.
Grant Yun announced his collaboration with Ledger, limited edition Grant Yun x Ledger Nano X, which will be available for purchase till Oct 3, 5pm CET. Each order comes with a made-to-order limited edition art card.
October 3 MoMA is to launch Postcard project, a special collection of 15 Web3 artist-designed postcards.
October 3 AOTM Ephemeral Visions auction is to feature 18 international artists exploring the concept of impermanence through contemporary digital art.
“A monthly decentralized, chain and platform agnostic art exhibition hosted on @joynxyz. This is the first CC0 issue and we will build a library of CC0 work through this exhibition.” - Patrick Amadon’s announcement tweet.
"The digital art has a CC0 (Creative Commons 0) license, placing it immediately in the public domain, like most art created before 1928 is. Since NFTs can confirm which piece is the original, everyone benefits from allowing public remixing and reuse upfront vs in 100 years" - 6529’s CC0 explainer in 280 characters.