With the world beginning to move into a new digital space, many disciplines are following suit, including art. This year the Art Basel Miami edition will run from 2 – 4 December 2021.
NFTs are a large part of this development into the digital space and have quickly become a rising attraction in the art world. This year’s Miami Art Week and Art Basel celebrations are moving in that direction with a variety of NFT based exhibitions throughout the week.
Since 1970, creators, collectors, and dealers of contemporary art have congregated at Art Basel, the world’s biggest art fair.
Intended to spotlight the top artists of the time and act as a driving force in supporting the role galleries play in nurturing the careers of artists, the annual event attracts art perusers and professionals alike.
While exhibiting contemporary work is Art Basel’s first and foremost function, the fair is also known for its events. Lavish parties, live performances, and masterclasses are just some of the extra festivities held at each fair.
It is held once a year in three host cities—Basel in Switzerland, Miami Beach in Florida, and Hong Kong in China—and gives hundreds of galleries a prestigious platform to present and sell art.
Paintings, sculptures (including outdoor pieces), works on paper, photography, digital art, video art, and installations make up most of the works featured year after year.
However, this year the Art Basel has decided to join the ever-rising digital universe by stepping into the world of NFT’s.
NFTs or non-fungible tokens are a new type of virtual asset that has fuelled much of the growth in the metaverse.
Metaverse, a term first coined in science fiction, is a combination of the prefix “meta”, meaning beyond, and “universe”.
It refers to shared virtual worlds where land, buildings, avatars and even names can be bought and sold, often using cryptocurrency. In these environments, people can wander around with friends, visit buildings, buy goods and services, and attend events.
The concept has surged in popularity during the pandemic as lockdown measures and work-from-home policies pushed more people online for both business and pleasure.
The term covers a wide variety of virtual realities, from workplace tools to games and community platforms.
Normally exhibits would consist of traditional works of art, such as paintings or sculptures that are valuable, precisely because they are one of a kind.
With art making its way online, the danger of these digital files can be easily and endlessly duplicated.
With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold.
As with crypto-currency, a record of who owns what is stored on a shared ledger known as the blockchain.
The records cannot be forged because the ledger is maintained by thousands of computers around the world. NFTs can also contain smart contracts that may give the artist, for example, a cut of any future sale of the token.
This year the Art Basel Miami 2021 event will allow guests to view NFT artists work online through various social media platforms or by asking people to download specific applications to experience the art live on their phones.
So far only a few artists have been heavily advertising their NFT exhibits for Miami Basel.
One of them is Tezos. Like Bitcoin and Ethereum, Tezos is a decentralized ledger that makes use of blockchain technology. They are a leader in the energy-efficient blockchain space and is excited to bring their expertise in NFT’s to life this Art Basel.
This interactive experience will allow visitors to experience NFTs in a new space, while also having the chance to collaborate with an algorithm that has been embedded into the space.
Leading artists in the space will have their work featured throughout the exhibit including Helena Sarin, Matt DesLauriers, Sutu, Iskra Velitchkova and many more.
The exhibit will also encourage attendees to create and mint their own NFTs on-site at the Miami Beach Convention Center.
Look out for the event as it will be taking place from December 2 – December 4 2021.
Another NFT artist and company that is joining the Art Basel Miami crowd this year is SCOPE. They have partnered with widely recognized, YellowHeart, a pioneer in the digital marketplace to create the first of its kind in NFT ticketing.
This NFT minted Platinum and General VIP tickets are a celebration of SCOPE’s new program, which aims to present artists that help define the cultural landscape, across many creative mediums. This exciting collaboration is in celebration of SCOPE’s 20th anniversary.
The collector’s items will be available to purchase on the marketplace, with some already released in September earlier this year.
The NFT exhibit will run throughout the Art Basel Miami exhibition starting from November 30 – 5 December 2021.
The artist, a staple at SCOPE, will return this season with a twist on his classic artwork. This year, Mister E’s work will combine both his digital and physical work, for the first time. Attendees will have the chance to physically walk into his NFT; 100 will be his first digital release.
The Art Basel Miami 2021 will represent a much larger scale of art from now on. If you thought the art world was big already – think again. It’s about to get even bigger. Art Basel Miami is stepping into the digital realm of the metaverse and giving art lovers and collectors, alike a chance to experience art in a fully immersive and physical way.