Morning Minute | The Digital Art Renaissance Is Here
Take a minute to catch up on the latest in the Web3 space with today's NFT market analysis, top movers, and upcoming mints:
TylerD's Market Summary
The top museums in the world are embracing digital art before our eyes. Have we reached a tipping point for NFTs and institutional adoption?
🇫🇷 Claire Silver Goes to The Louvre
The Mona Lisa.
The Wedding at Cana. The Venus de Milo. The Winged Victory of Samothrace.
These are some of the iconic pieces in the collection of the world-famous Louvre Museum.
And now, Claire Silver and "Love in the 4th Turning" will be exhibited right there with them.
It's a big f***ing deal.
Not just for Claire, or for AI art - it's a big deal for all of NFTs, digital art, and digital artists.
Just a few years ago, top museums were loudly contemplating how and if they would incorporate NFTs.
Many pointed to the environmental impact and carbon footprint as a reason to avoid entirely.
Now NFTs and digital art are being accepted and showcased by the absolute top museums in the world, without major statements or fan-fare.
These museums (mostly) are not doing it for the headlines, or for profit (though some are selling NFTs); they seem to be exhibiting NFTs on the merit of the art and as a nod to the power of this new medium.
NFTs are being quietly adopted as the future of art.
Claire joins a growing list of digital artists who have had their work (NFTs) sold to or featured at museums across the globe.
Here is a list of some notable NFTs and/or artists that have been featured in major museums:
- Several NFTs featured in the "New FuTure" exhibit - Moco Museum (Dec 2021)
- Artists include FEWOCiOUS, Mad Dog Jones, Beeple and more
- Beeple's "Human One" - Castello di Rivoli (Apr 2022) and M+ Museum in Hong Kong (Dec 2022)
- Pindar Van Arman and Reimagine AI "Quantum Dreams" - Carrousel du Louvre (Sept 2022)
- CryptoPunk #305 and #5293 - Miami Institute of Contemporary Art (Nov 2022)
- CryptoPunk #110 - Centre Pompidou (Feb 2023)
- Autoglyph #25 - Centre Pompidou (Feb 2023)
- 22 works from The Cozomo de' Medici Collection - Los Angeles County Museum of Art (Feb 2023)
- This donation spans CryptoPunks, Art Blocks, AI, and more
- Claire Silver's "Love in the 4th Turning" - The Louvre (Mar 2023)
This list certainly does not capture all of the NFTs featured in museums but provides a glimpse of how far the movement has come in just a few short years.
These works span NFT sectors such as PFPs (profile pictures), generative art, AI art, and more "traditional" 1/1 digital art.
So it's not even a niche sector of NFTs being embraced - it's fairly universal across all of digital art.
And looking at the timeline of those notable events above, the pace seems to be accelerating.
The Digital Art Renaissance is happening.
Pay attention to it, and try to enjoy it. We are all a part of it.
For those who want to learn more, here is the exclusive article from Variety breaking the Clair news.
And here is a good read on how 21 different museums adopted NFTs in 2021.
🎬 More NFT Action on Bitcoin
The Bitcoin NFT headlines keep rolling in, and given Yuga's success with TwelveFold, they probably are not stopping any time soon.
First, there was an update from Frank and the DeGods team.
The 535 DeGods that were burned last year are being "resurrected" on Bitcoin, and apparently it is coming soon.
This move made sense for DeGods and Frank's ecoystem, which already has plans to be more multi-chain than any other major ecosystem.
Second, PortalPunks debuted yesterday allowing CryptoPunk owners a way to inscribe their Punks onto Bitcoin using Ordinals.
The process is token-gated using Delegate Cash, audited by 0xQuit and is seemingly "signed off" as secure. Five Punks have already been inscribed and more are likely on the way.
Why It Matters
- Each major NFT project or brand that makes a move on Bitcoin deepens this as a serious movement versus a simple fad.
- The more teams that start to build infrastructure to support the movement, the faster it will be adopted.
Will CryptoPunks inscribed as Ordinals have value in the future? And what is that value with their ETH counterparts still the "official" Punks?
I am not sure. But one thing I am sure of - those BTC Punk owners are feeling shakier in their "investment."
🚚 What else is happening in NFTs?
Here is the lengthy list of the other major headlines from a busy day in NFTs:
- Trading volume came in at 35k ETH on Tuesday, +10% from Monday; most NFTs red on the day
- Yuga completed the final score review for the Toad Mode game, with metadata updating in the next 24 hours
- Escher prepares for a March 30 launch date for their art edition platform, while also dropping a free open edition
- Memeland CEO 9gag files "Proof of Fandom" trademark application, offering a glimpse into potential future plans
- Porsche completed an airdrop of 2,363 NFTs to the wallets which minted the Porsche NFTs, though current holders were not rewarded
- ZenAcademy partners with Tom Bilyeu's Impact Theory for educational courses
- Danny Cole teased "Chapter 2" coming for his "Crowd" open edition, sending the floor up over 100%
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market was down yesterday; BTC -1.5% at $22,050, ETH -0.5% at $1,560
- Pepperidge Farms files trademark for its Goldfish snack brand as NFTs, covering virtual snacks, diital media and several other use cases
- Getty Images and Candy Digital are teaming up to release an inaugural collection of NFTs celebrating the music and culture of the 1970s
- Dapper Labs removes the ACH withdrawal option, citing Circle's decision to stop supporting it, in more fallout from the latest wave of regulatory crackdowns
🚀 NFT Total Volume
- MAYC (4,091 ETH, 15.2 ETH Floor)
- BAYC (3,324 ETH, 69.9 ETH)
- Clone X (2,339 ETH, 4.45 ETH)
- Otheredeed (2,018 ETH, 1.84 ETH)
- Mocaverse (1,559 ETH, 1.74 ETH)
📈 NFT Floor Price Increase
- Crowd (128%, 0.02 ETH Floor)
- Braindrops (35%, 0.33 ETH)
- Weirdo Ghost Gang (19%, 0.62 ETH)
- Terraforms (8%, 2.4 ETH)
- Degen Toonz (14%, 0.58 ETH)
🗓 Upcoming NFT Mints and Reveals
Today has a lengthy list of new drops, spanning art, memes and major brands.
We have the standard Meme card and Art Blocks drop, and with recent Art Blocks releases failing to mint out, expect less interest on this than week's past.
Then LACMA has collaborated with Cactoid Labs for the "Remembrance" drop, which may see more interest than the AB drop.
The wildcards of the day are likely the Dreambox free mint from Amber Park, and GQ's first NFT drop (maybe the mint of the day though not cheap).
- The Sandbox: Madballs Avatars (9:00 a.m. ET); 100 SAND mint
- Memes by 6529 (11:00 a.m. ET); 0.069 ETH mint
- Dimensionals: Genesis Stones (11:00 a.m. ET)
- Art Blocks Presents: Worlds Within by Jason Ting (1:00 p.m. ET); Dutch auction
- Remembrance of Things Future (TBD); 0.2 ETH mint
- PLAY! POP! GO! Dreambox (TBD); free mint
- GQ3 Issue 001: Change Is Good (TBD); 0.195 ETH mint
Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email email@example.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.