Web3 technology is revolutionizing the art industry, enabling new forms of creative expression and community building. As a media research team, we are particularly interested in exploring the ways in which this technology is impacting the art world. In this blog post, we will provide a brief overview of the history of web3 and its relationship to art, examine the key art movements and communities that are emerging within the web3 ecosystem, and conclude with thoughts on the future of web3 and art.
Web3, also referred to as the decentralized web, is a term used to describe the next generation of web technologies that are built on blockchain and peer-to-peer networking. The first decentralized applications (dApps) were developed on the Ethereum blockchain in 2015, and since then, the web3 ecosystem has experienced significant growth. A defining feature of web3 is the ability to create decentralized autonomous organizations (DAOs), self-governing communities that operate without a central authority.
The emergence of web3 has resulted in the formation of new art movements and communities that are pushing the boundaries of digital art. One of the most notable movements within the web3 art world is the cryptoart movement, which utilizes blockchain technology to create unique, one-of-a-kind digital artworks that can be bought, sold, and traded on decentralized marketplaces. Another important community within the web3 art world is the NFT (non-fungible token) art community. NFTs are digital assets that are stored on the blockchain and are unique, meaning they cannot be replicated. NFT art is becoming increasingly popular among artists and collectors alike, as seen with the Beeple’s digital artwork sold for $69 million in March 2021 and Mad Dog Jones, who has been actively involved in the creation and promotion of NFT art since 2017.
It is also worth mentioning the impact of decentralized autonomous organizations (DAOs) on the art industry, such as The DAO, which was launched in 2016 and became the largest crowdfunding campaign in history at the time. The DAO was a community-driven venture capital fund built on Ethereum, it allowed members to vote on which projects the fund would invest in, and it was a major step forward in the development of decentralized autonomous organizations.
New media art is a rapidly growing area within the web3 ecosystem and has the potential to be one of the most exciting and transformative areas of the art world. New media art refers to the use of digital technology and the internet as mediums for creating and distributing art. In the context of web3, new media art is often decentralized and built on blockchain technology, which allows for new forms of interactivity, ownership, and collaboration.
One of the most important figures in the new media art world is artists like Memo Akten, who has been at the forefront of the movement since the early days of the web3 ecosystem. His work explores the intersection of technology, art, and society, and he has exhibited his work at major festivals and events such as Ars Electronica, Sonar, and Transmediale. Another notable figure is Zach Lieberman, who is known for his work in the field of generative art and has exhibited at festivals such as Ars Electronica and the Venice Biennale.
There are also some important festivals and events dedicated to new media art in the web3 ecosystem such as the Web3 Festival, which is an annual event that brings together the global web3 community to showcase the latest developments in the field of new media art. The festival features exhibitions, performances, and talks by leading artists, researchers, and developers in the field. Another notable festival is the Cryptovoxels Festival, which is a blockchain-based virtual festival and showcase of NFT art and digital experiences. It’s featuring some of the most prominent NFT artists, like Fewocious, Mad Dog Jones and XCOPY.
The emergence of web3 and blockchain technology has also led to the creation of new decentralized platforms and marketplaces for new media art. For example, SuperRare, Rarible, KnownOrigin and OpenSea are some of the most popular platforms for buying, selling and trading NFT art. These platforms have created new opportunities for artists to monetize their work and for collectors to acquire one-of-a-kind digital artworks.
In summary, new media art in web3 ecosystem is a rapidly growing area and has the potential to be one of the most exciting and transformative areas of the art world. The emergence of web3 and blockchain technology has led to new forms of interactivity, ownership and collaboration, as well as new platforms, festivals and events to showcase the work of leading artists. Artists like Memo Akten, Zach Lieberman and festivals like Web3 Festival, Cryptovoxels Festival and marketplaces like SuperRare, Rarible, KnownOrigin and OpenSea are leading the way in this field. We expect to see more and more artists and creatives exploring the possibilities of web3 and blockchain technology in the future, and we look forward to seeing how new media art will continue to evolve in this exciting new ecosystem.