- In the huge downturn, if not doldrums, in the NFT market, it’s easy to jump to the conclusion that NFTs are dead.
- But nothing can be further from the case. NFTs are a technology that create virtual ownership for digital art. Overnight, they spawned a new market for digital artists.
- While the NFT bubble has burst, the technology remains. And so does the market for the leading innovator-artists, such as Sam Spratt and Refik Anadol, whose NFTs command great value.
- Spratt’s The Monument Game NFTs sold over $1.1 million on Nifty Gateway, and one 1/1 artwork fetching $698,000.
- Meanwhile, Anadol’s collaboration with the indigeneous people of the Yawanawá community in Brazil, titled the Winds of Yawanawa, continues to draw great demand. According to Design Boom, “Each data painting harnesses weather data from the community’s village, including wind speed, gusts, direction, and temperature, which is then merged with works of young Yawanawá artists, resulting in a mesmerizing play of traditional shapes and colors of data pigmentation.” Anadol has donated his share of the proceeds back to the community.
