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PROJECT

FMP: PRIMARY RESEARCH 

PROJECT INFO
DESIGNERS / TEAM

During the primary research phase, I visited a few exhibitions with a goal of answering some of my unanswered questions. I was mainly interested in learning more about the following aspects of NFTs: 

  • The culture around NFTs – The peculiarity and phenomenon of why people are willing to spend thousands/millions on pieces of NFT artwork. 
  • The economics of NFTs – Why is there artificial scarcity and limitations on the amount of  NFTs that can be produced?
  • Market dynamics of NFTs –  Why are some digital arts more expensive than others and who gets to decide the pricing. I was also interested in learning more about what kind of aesthetics people in the NFT world tend to go for. 

Topics of Interest – Diagram by Cat 

EXHIBITION VISITS

I visited A lot of exhibitions and galleries that were specifically dedicated to NFTs. Below is a list of the galleries that I visited/experienced:

  • NFT arts – this is London’s first dedicated gallery for NFTs. NFT arts also owns the Satoshi collection – a traveling gallery of the best NFTs that is shared with the best galleries, museums, and tech experiences. 
  • Illust Space – Illust space is an NFT company that is dedicated to using Blockchain solutions to flip the script on how artists engage with the digital future. 
  • Unit London – in September 2021 I also visited the ‘NFTis: No Fear In Trying’ exhibition that was held by Unit London. The exhibition allowed us visitors to 3-D video chat with artists, collectors, and art lovers from around the world using our phones or laptops. 
  • Creative Works – this exhibition was fully dedicated to black history month and all of the artworks that were featured were created by black artists. The visit to this museum inspired me to dedicate my project to working with artists from marginalized backgrounds. 

Sculpture Three AR – NFT Art by Ian (Illust Space)

Viewing Art at the Creative Works Gallery. 

IN CONVERSATIONS WITH ARTISTS 

In addition to the exhibition visit, I also managed to interview some artists.  Now that I was fully dedicated to learning more about artists from marginalised backgrounds, I attended some of the conversations and talks that were being held during black history month in October 2021. By the end of these interviews, I learned that many of the more established artists are not interested in joining the NFT market space due to their capitalistic nature and lack of proper future foresight. Below are some of the artist’s insights and opinions about NFTs. 

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Insights Gained From Conversations with Artists.

REFLECTION

INSIGHTS 

By visiting black history month related exhibitions and also having conversations/talks with the artists just themselves, I decided that I wanted to explore how NFTs can be used as a vehicle that champions inclusivity. From this moment on my project was solely focused on finding out how NFT art can support artists from marginalised backgrounds/communities in taking a full grasp on the work that they produce.

REFERENCES
  • Caldarelli, G., Rossignoli, C. and Zardini, A. (2020). Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products. Sustainability, 12(6), p.2391.
  • Chevet, S. (2018a). Blockchain Technology and Non-Fungible Tokens: Reshaping Value Chains in Creative Industries. SSRN Electronic Journal.
  • Chohan, U.W. (2021). Non-Fungible Tokens: Blockchains, Scarcity, and Value. SSRN Electronic Journal.
  • Dowling, M.M. (2021). Is non-fungible token pricing driven by cryptocurrencies? SSRN Electronic Journal.
  • Trautman, L.J. (2021).Virtual Art and Non-fungible Tokens. SSRN Electronic Journal.
  • Uribe, D. (2020). Privacy Laws, Non-Fungible Tokens, and Genomics. The Journal of The British Blockchain Association, 3(2), pp.1–10.