The potential of web3
Coming from a traditional web2 world of art, websites and apps to the blockchain-based web3 world of generative AI art, crypto wallets, smart contracts, dapps and NFTs felt like a big leap at first.
A leap of faith - but not into the dark. This is important.
As we journey through life, we take with us the skills, experiences and accomplishments from one phase to the next. We learn to adapt with what we have, and use this to cross the threshold (Joseph Campbell reference) into a new world, or phase of life, where we face new challenges, picking up new skills and experiences.
For me, as a lens-based artist (photographer), and largely digital at the time of this transition, I felt like the leap was worth making and exploring what web3, crypto, blockchain technology and NFTs could bring. I was not disappointed, but I was surprised.
Like many before and around me (no matter whether they deny it or not), I came looking to sell my work and ‘make bag’, as they say.
What I found - a lot more immediately, and easily, I should add - was community. I had not expected this aspect - especially as all the interactions with others were online.
Finding your people, your tribe
Within 10 days of ‘being in the space’ I had met more artists, photographers, creatives, collectors and life-minded folk than I had done in the previous 10 years. No joke. Although there were lots of jokes - and laughs, heated discussions, intellectual debates, critique, inspiration, enquiry and conversation. This space was moving forward at such a pace that it was hard to keep up with everything that was happening. We were pioneers - with a lot in common, a curiosity to learn, share and create.
Creating a support network & NFTs for good
Artists sharing other artists’ work, collectors highlighting the work that they had collected, and whole communities of artists rallying behind worthy causes. Art auctions, sales and spotlights of artists from Ukraine were set up in the immediate aftermath of the outbreak of war - helping to raise funds that could be transferred instantly across borders. Collectors championing disenfranchised, underrepresented artists from minority ethnic groups, collectives with a focus on female artists - these were the very tangible and real examples of how the technology could be used for positive impact.
Through sales of my own work, and collaborating with curators on the ground in Cuba, we were able to support Cuban artists financially to set up crypto wallets, pay gas fees to mint, and list, their work as NFTs on their own smart contracts. This would have been impossible / extremely difficult to enable without this technology and community support.
Global exposure - direct connections
The momentum, connections, and collaborations began to pick up pace and before long I had not only released work that had been sat on a hard drive for years, but it was selling too. I sold out entire collections (exhibitions in the traditional art world) of work, in a matter of days, to collectors from Australia, USA, Germany, UK and other countries that I don’t even know where the collectors are from. The work I released varied from 1/1’s to limited editions to open editions - selling to new, and existing collectors as well as other artists, and on multiple blockchains (ethereum, solana, tezos). I made connections with each of the collectors, and fellow artists, and before long I started to turn these virtual, digital-based connections into ‘real’ friendships and relationships.
This is where the real magic started to happen. A phone-call here, a video conference there, then an actual irl (in real life) magical experience at a NFT event. This had all happened within the matter of months. This would have taken years to generate in the traditional art world. The other huge benefit was that these were direct connections - not managed by a gallery, manager, agent etc (I have nothing wrong with any of these by the way, it is just refreshing to experience the unhindered relationships).
When we met, it was like we had known each other for years. We had multiple shared experiences, and were happy to connect with others who didn’t think this whole web3 / NFT thing was a passing trend!
What we’d been experiencing was the best of what the decentralised world has to offer. I feel fortunate to have been able to explore this actively, and be part of a movement that was empowering individuals, not corporations, artists, not agents.
At this point I should mention that I have painted a rather rosy picture here of what this world and space can be like. Of course there are negative aspects and challenges that we need to acknowledge like the scammers, opportunists, FOMO, and insecurity of the market.
The future is decentralised
That said, the positives far outweigh the negatives, and I am still bulllish on the opportunities and potential of the blockchain technology and real life positive impacts that it can enable. Moreover, how the technology can be used by these very tight, fast-paced and growing communities should be leveraged by all curious artists looking to create and build evangelist support around their work.
There are some excellent use cases already for this technology and selling art is just one of them with multiple benefits:
Direct connections - where you can cut out the middle person / third parties taking commissions, and cuts from sales and profits
Built in royalties - the artist decides. Smart contract technology allows us to determine exactly what % of secondary and future sales we will receive - in perpetuity.
Creating and rewarding a community - being able to deliver future benefits directly to your community via the technology is simple, clean, and removes third party hierarchies. Pre-sale access, exclusive content and partner deals can easily be made available to collectors of your NFTs with an allowlist.
We are early, but don't get left behind
This is a phrase we keep on hearing that "we are early". It's true. We are still at the early adopter stage, the exciting rollercoaster is about to get going. The more people, companies, artists, scientists, impact seekers, curious-minded that get on board, ask the questions, share their projects and spread the word - the better.
We're hosting a Festival! Together with colleagues at LA PIPA, we are hosting the beta edition of an annual Culture / Science / Knowledge festival - exploring the circular economy and potential of blockchain, web3, art, music, sustainability, AI and much more!