Fat Cat Fun(d) #2
Happy 2021 crypto fiends! The Fat Cat Fun(d) is two friends (kevinhabits and stevenmeets) sharing weekly news, notes and thots about the exploding NFT space. We’re just starting, so please hit reply to let us know your questions and anything you’d like to see in future issues. Thanks for helping us out!
📰 NEWS SNIPPETS:
Grammy-nominated DJ TOKiMONSTA launches her first NFT collab on SuperRare, following similar efforts by 3LAU and deadmau5. New EDM trend?
18 year old artist FEWOCiOUS nets $370k with New Years drop on Nifty Gateway:
Pricing art has always been a hard problem. UpshotOne is trying a “Hot or Not” approach to price discovery:
Wanna sell your tweets? RAC just sold one for $404, receiving 6 offers over 2 days using a service called Valuables by CENT:
Rocki, a new music NFT project, raised $26K (40 ETH) for a progressive house musician named Guy J - which included income rights to a track and an ERC-721 token.
📝 NOTES & LEARNINGS:
Why release a digital NFT in addition to a physical piece?
Hear it from the horses’ mouths:
VHS: “the digital world is expanding rapidly...preserve the art forever.” Notably, his 1 of 1 NFTs have an asking price almost 10x of his physical prints.
Source: https://vhs.gallery, https://app.rarible.com/vhs Trevor Jones: “An artist’s reputation is established in large part by the pricing and successful sales of their work…Without a commercial gallery alliance, it is up to me to instill confidence in collectors. An NFT is the perfect solution for this dilemma.” Trevor also adds, “the NFT adds additional value to the art investment, proven by the fact that a number of my NFTs have sold for more than their physical painting counterpart.”
Beeple: “The digital versus physical argument— ‘versus’ is the old way of looking at it. Everything will be digital.”
Major art auction houses getting into the mix
Christie’s auction house sold an NFT portrait of the Bitcoin code for $130,000+, the first time an NFT was auctioned at one of the major auction houses.
📚 GOOD READS & RESOURCES:
Twitter bot for following ENS, it tweets sales of ENS top level domains
coinranking.com/nfts - good place to see NFT stats, top sales, you got axies, and rarible art, and cryptokitties…
nonfungible.com - another place for NFT market data, including average sale price data:
Art: $227
Metaverse: $229
Games: $18
Collectibles: $16
Unsurprisingly, Games and Collectibles lead in overall transactions
NFT primer:
Profile of 9 crypto artists
How NFTs Blew Up in 2020: breaking down NFT growth in DEXes, Gaming and Art
🤔 KEVIN’S THOTS on FEWOCiOUS:
Really liking this 18yo digital artist FEWOCIOUS - like I LOVE this one, but listed at 108 ETH!
This piece is more reasonable, but it's sold out @ $6k.
Fewocious and another artist have a podcast - just them chilling and talking art and crypto:
🤔 STEVEN’S THOTS on Dynamic Art:
I’ve always wondered about dynamic art - art that reacts to its participants, environment and changes over time.
Async Art enables “programmable art” that can evolve over time, react to decisions made by its owners, or follow a stock price. This piece offers 7 different “layers” which can each be customized and owned by different owners:
For this Beeple piece, it’s final animation will be decided by the US Election results - one animation for a Biden win, or the alternative animation for a Trump win. The artist has yet to declare the winner.
This niche is undoubtedly made by, and for the generations who grew up on videogames.
Should all art become dynamic? Absolutely not, there’s a power and weight to traditional “static” art.
Will artists understand how to utilize this new medium? I’d bet on a high learning curve like with VR content.
It could get interesting, however, for the collectors who want to shift from passive viewing to active participation.
Hit reply to send us your questions about NFTs, crypto art, blockchain games, and anything you’d like to see in future issues. Thanks for helping us out!