Copy
SUBSCRIBE      -      PAST ISSUES      -      SHARE
05.27.22



 

EDITOR'S NOTE 

With lockdowns in the rearview, NFTs are taking center stage at art fairs and conferences worldwide. This past week, major events from VeeCon to TMRW offered platforms for NFT creators and entrepreneurs, while contemporary art fair Frieze New York saw prominent platforms and artists stage immersive showcases. NFT prices may ebb and flow, but the burgeoning ecosystem and culture surrounding digital art look ready to stay.  Keep reading for a few notable examples of how NFTs are innovating other industries this week.

— Juhi Mirza
Content & Community Manager


Reach out to us with NFT-related tips or stories for potential coverage in our upcoming editions.

Brand or sponsor a section of our newsletter to get in front of an audience. Contact laura@jingculturecommerce.com for sponsorship or partnership opportunities.

THE BIG STORY


What's fueling the NFT conversation

Image: Courtesy of LG Electronics

NFTS SHOW UP FOR FRIEZE NEW YORK

WHAT HAPPENED: The presence of NFTs was already palpable at Frieze in 2021, within the art fair’s first-ever Digital Art Viewing Room. This year, though, NFTs emerged over the Frieze New York weekend as full physical experiences. Over May 18 and 22, the 10th edition of the fair also saw the openings of SuperRare’s first in-person gallery in Soho and LaCollection’s pop-up exhibition, Timeless Reflections. The Original Egon Schiele NFT Collection, at White Space Chelsea. Within the fair’s grounds at The Shed, the LG OLED booth played host to Kevin McCoy’s latest series Quantum Leap: Primordial Star 3, which was showcased on LG OLED screens as part of ​​LG’s collaboration with the NFT art pioneer.

WHY IT MATTERS:  NFTs’ growing footprint at Frieze and other art fairs from Art Dubai to the Venice Biennale demonstrate the warming embrace of NFT art by the contemporary art domain. Besides helping to seed the medium among existing art collectors, thus expanding its audience, these exhibitions further help legitimize and cement digital art within the broader art industry.

 

THE NFT DROP TO KNOW


The release shaking up NFT commerce

Image: MakersPlace

THE ARTWORK: CHAOS VIII by Urs Fischer

THE LAUNCH: On May 23, contemporary artist Urs Fischer unveiled the latest installment in his ongoing CHAOS NFT collection, initially launched in July 2021. This release features five 3D digital collectibles, including the one designed in collaboration with prolific French artist JR, which are now live on MakersPlace. Like other CHAOS NFTs, these new artworks see an assortment of mundane objects playfully juxtaposed against each other

THE RECEPTION: At the time of writing, among the five NFTs that are up for sale, CHAOS #170 Oracle has fetched the highest bid price of $10,000, followed by CHAOS #96 JR, which presently has a bid price of $6,000. 

WHY IT MATTERS: Fischer was one of the earliest established artists to enter the NFT realm, in partnership with Pace Gallery, and his continued participation indicates his enduring interest in the medium. His first CHAOS NFTs fetched respectable sums (CHAOS #1 was sold for $98,000, 100 times its estimate) and his latest launch is on pace to do decent enough business, even amid a crowded marketplace.

Notably, the Swiss artist is also mindful of the financial good NFTs can do: Fischer’s collaboration with JR will raise funds for the Can Art Change The World? charity, which taps art to help spread social awareness and social change.

Post Post
Share Share
Tweet Tweet
Forward Forward

THE WEEK'S NFT RANKINGS

In partnership with  

                                                                          Last 7d Sales                  Last 7d Changes
 1  Otherdeed                                                    $28,238,998                          ▲ 8.85%
 2  Bored Ape Yacht Club                                 $19,746,958                        ▼ 16.99%
 3  goblintown                                                   $18,685,604                           ▲ 0%
 4  Chimpers                                                     $16,703,502                            ▲ 0%
 5  Trippin Ape Tribe                                         $13,123,283                            ▲ 0%
 6  Mutant Ape Yacht Club                               $11,076,678                        ▼ 25.15%  
 7  Moonbirds Oddities                                     $8,044,285                             ▲ 0%
 8  Sorare                                                            $6,547,506                          ▲ 17.02%
 9  CloneX                                                           $6,284,618                          ▼ 24.38%
 10  Bored Ape Chemistry Club                        $5,624,325                         ▲ 101.13%
For the week ending 5/26/22. Source: Cryptoslam.io
IN THE STATS
Image: Chainanalysis

NFT TRANSACTIONAL ACTIVITY EBBS IN 2022 
A recent Chainanalysis report points toward the slowing of NFT transactional activity after the medium’s explosive growth in 2021. The report states that collectors have spent an overall $37 billion in the NFT market as of May 1, 2022. NFT transaction activity, however, has gradually declined after the summer of 2021, save for two short-lived spikes that were triggered by the launch of Mutant Ape Yacht Club NFTs and the LooksRare NFT marketplace from August to February 2022. After that, the NFT transactional activity ebbed significantly from mid-February, dropping to $964 million. 

However, the turbulent market phases have not yet dissuaded NFT enthusiasts from purchasing NFTs in 2022. The report further documents an increase in active NFT buyers and sellers in Q2, 2022, noting that nearly 491,000 wallets have transacted NFTs this year

NFTS IN THE NEWS

Image: BusinessNews Wire

THE DON KILLUMINATI: THE 7 DAY THEORY NFT
Compton-based artist Riskie Forever has partnered with Zelus and Heritage Auction to auction the cover art of Tupac Shakur's posthumous album The Don Killuminati: The 7 Day Theory, released under the rapper’s pseudonym Makaveli. Painted in 1996, the original album artwork will be sold alongside a one-for-one NFT, while bidders who sign up for a Zelus wallet will also enter a sweepstakes to win a collectible NFT. The auction runs until June 18.


SNOOP DOGG X STEVE AOKI
Snoop Dogg and Steve Aoki have teamed up the form the outfit Alpha Doggz, which is set to launch Da Da, a five-track NFT EP, in partnership with the blockchain-based Gala music platform. The first two tracks were airdropped last week to the existing holders of A0K1VERSE Passport NFT and Doggfather’s Snoop Stashbox for free, with more details on the drop soon to be announced. 


KRAPOPOLIS NFTS
Dan Harmon, the mind behind Rick and Morty, is all set to drop his upcoming animated comedy series on the blockchain. Titled Krapopolis, produced by Bento Box Entertainment and financed by Fox Entertainment, the show will feature in a dedicated NFT marketplace, which will offer NFTs of character and background art, in addition to tokens granting exclusive social experiences. The series is due to air in September.

MUSEUM OF THE FUTURE X BINANCE
The UAE-based Museum of The Future is teaming up with Binance's NFT division to launch a NFT collection titled the Most Beautiful NFTs in the Metaverse. The collaboration intends to create a holistic NFT ecosystem to drive the region’s digital economy, in which Dubai has already been making significant headway.


Image: Lovedeathandart.com

LOVE, DEATH, AND ROBOTS DIGITAL COLLECTIBLES
With the recent release of the third season of Love, Death, and Robots, Netflix has launched a digital scavenger hunt inviting players to unearth NFTs. To do so, fans are asked to locate 9 QR codes hidden across the series’ social platforms, which, once scanned, will unlock exclusive digital collectibles that can be minted as NFTs. This marks the streaming platform’s first venture into the NFT space. 


SEAPORT BY OPENSEA
Leading NFT marketplace OpenSea is expanding its service portfolio by launching Seaport, a unique trading service that will enable users to barter their NFTs. Launched May 20, the new platform is said to accelerate NFT adoption by letting users buy, sell, and trade distinctive NFTs by proposing bids in crypto and NFTs. 

Post Post
Share Share
Tweet Tweet
Forward Forward

EVENT SPOTLIGHT


Upcoming NFT events to watch

NFT BCN | MAY 26 - JUNE 12 | BARCELONA
Set on bringing the worlds of art and blockchain closer, the first NFT Barcelona will exhibit works by 40 NFT creators, in addition to hosting talks and workshops. LEARN MORE


M1NTED | JUNE 4 - 5 | KUALA LUMPUR
Malaysia’s first NFT conference will explore how NFTs are making waves in art and gaming, featuring a line-up of guest speakers and local talents. LEARN MORE


NFT ART DAY ZRH | JUNE 12 | ZURICH
Aiming to spotlight crypto art through the lens of digital art history, the event will feature NFT luminaries from Kevin Abosch to Refik Anadol. LEARN MORE

ON OUR RADAR


What's on the NFT horizon

Image: Unicorn DAO

UNICORN DAO TO EMPOWER LGBTQ+ NFT ARTISTS
Led by Nadiya Tolokonnikova of Pussy Riot, the digital art collective Unicorn DAO recently raised $4.5 million in its first fundraising round, in its mission to empower females and LGBTQ+ NFT artists. Unicorn DAO has attracted investments from leading crypto figures such as Beeple and Gary Vaynerchuk, and plans to use the funds to provide support and resources to underrepresented creators.


MOONBIRDS ODDITIES
The creators of the popular Moonbirds NFTs have launched a new mysterious digital collection labeled Moonbird Oddities, described as "10,000 fanciful treats make for unsavory pellet pals." Now minting at an average floor price of 3.15 ETH ($6172.55), the collection will unveil itself on July 22.

IN CASE YOU MISSED IT


Catch up on Jing's NFT coverage

"NFTs are just a medium of expression. It’s the content you want to express that is the most important." 


— Shimo Zhou and Une Yea, Founders, STAFFONLY


The Designer Duo of STAFFONLY on Fashion’s NFT Opportunity in China
STAFFONLY shared their first NFT release this Spring via a virtual auction. Jing Daily caught up with them to talk “likecoins,” lockdowns, and the implications of crypto art.

SuperRare Gets Physical, Unveils Its First-Ever Pop-Up Gallery
The NFT marketplace debuts IRL with a three-month pop-up that builds a physically immersive experience around digital art.

With Looty, The Case For Digital Repatriation Gains A New Ally: NFTs
For its first drop, the independent project has digitized the British Museum's trove of Benin Bronzes to be minted and sold as NFTs.

LinkedIn
Facebook
Twitter
NEW YORK – LONDON – SHANGHAI
You are receiving this email because you signed up for updates from Jing Culture & Commerce. You can update your preferences or unsubscribe from this list. Copyright © 2021 Jing Culture & Commerce, All rights reserved.