Artists whose work uses generative adversarial networks (GANs)— algorithms that pit computers against each other to produce original machine-made output approximating the human-made training data—have turned to crypto platforms not only to sell their work, but also to explore ways of critically and creatively engaging the blockchain.
Five NFTs of Andy Warhol’s work have just sold for an eye-watering $3.4 million at auction.
Bright, colourful digital-only art that is selling for millions – who wouldn’t be intrigued?
But my first experience of investing in this world was a nightmare – with far too much time, money and stress wasted on… well, not very much.
Because an NFT doesn’t have a physical representation like a painting, it exists only as a digital asset.
So all I was paying for was a record of ownership – basically, to have my number displayed on a website next to a cartoon cat.
Three years ago, two software developers created a quirky art project called CryptoPunks that posed a serious and provocative question: Could a few lines of code translate to a feeling of meaningful ownership? It was a crazy idea that would require, in their words, ‘a conceptual leap.’ Three years later, that project is rightly regarded as the beginning of today’s CryptoArt movement.
9 rare CryptoPunks from @LarvaLabs own collection to star in our 21st Century Evening Sale this May in NY.
All mint numbers under 1k and yes there is a rare Alien! Punks 2, 532, 58, 30, 635, 602, 768, 603, 757 #CryptoPunks
ERC-721 is a more advanced token that is “non-fungible”. Think of ERC-20 as the token type for things that are money (any $5 bill is worth the same as any other $5 bill, usually) and ERC-721 as the token type for collectibles (it’s the Ethereum equivalent of baseball cards).