Art in Metaverse
Everything in the real world is being recreated in the virtual world. Fans of Stranger Things could relate better to the Upside-down. Well, that is the Metaverse.
Image provided by Salomé Gomis-Trezise, featuring 'August and Ra via Dazeddigital
The metaverse is a persistent digital universe that reflects our world while becoming as diverse and awe-inspiring as the natural world. And you'll be able to do everything you do in real life in virtual reality, if not more. In the real world, you can walk into a gallery, buy a one-of-a-kind piece of art that has been signed and authenticated as original, take it home, hang it on the wall, enjoy it, and show it to your friends, which is a form of investment. This artwork becomes a part of your story and gives meaning to your life; it represents a moment in time and a feeling for you. We can now have the same experience in virtual galleries featuring digital artworks. While this might seem like an obscure niche on the internet, let's take a look at a recent auction sale that some might have heard of. The major auction house Christie's sold a purely digital artwork by an artist named Beeple (Mike Winkelmann) for 69 million dollars in cryptocurrency, or Sultan Gustaf Al Ghozali, an Indonesian college student’s 1.8-million-dollar meme coin presale following his success in selling NFTs featuring his daily selfies, or a CryptoPunks NFT that was sold for 4,850 ETH (Ethereum cryptocurrency), equivalent to 16.4 million dollars, breaking the previous sales record. These auctions, the artworks, and the currency were virtual, but the transaction was very real. But who can afford a Beeple? Don't worry, there are lots of artists creating digital art and conceptualizing brand-new art forms that you can afford. The students of the Creative Media Industries Institute at Georgia State University are building a metaverse at present. Imagine a future where everyone can continue building new visions and new worlds, or in other words, a better internet, and can make a living while doing so. There is a paradigm shift happening that is turning the world of content creation and its financial rewards on its head. Gone are the days of the internet being a giant copying machine.
What is an NFT? The (fairly) new automated tool that allows for guaranteed proof of origination and ownership of music, videos, images, and even text is called an NFT: non-fungible token. Non-fungible means "not exchangeable." Simply put, it is a permanent tracking device that proves ownership of a digital file, somewhat similar to the way that you can chip a pet to identify it as yours if it runs away; an NFT is a cryptographic token connected to a digital asset to preserve ownership rights in the metaverse. The NFT is allowing everyone to own their data, starting with art, and there is hope that it will revolutionize how value is created online and how digital labor is monetized. Most things in the real world are non-fungible because most physical objects are unique and can't be traded one for one. No painting, pet, or person is exactly equivalent to another. And like Bitcoin, the record of ownership of an NFT is kept in a public database on the internet that is maintained by millions of computers that keep track, via consensus, of all content origination and transactions.
Virtual Galleries: A New Frontier
Virtual galleries have emerged in the digital landscape, providing immersive experiences that go beyond the constraints of physical space. These platforms enable artists to present their work in a curated environment that is open to anyone with an internet connection. As a result, art consumption has become more democratic, with both artists and collectors facing significantly lower entry barriers. In the metaverse, humans appear as avatars. A nine-year-old probably knows, but did you know that you can buy clothes for your avatar? Today, Gucci even sells sneakers that only exist in the virtual world, and you can never wear them, but your avatar can, something like your Snapchat avatar. Recently we have seen heavy hitters like Mark Cuban and Snoop Dogg investing in NFTs. This is the new frontier for artists and their fans. And just like in the real world, an artist can sell a one-of-a-kind piece, make limited editions to control scarcity, and show in art galleries and marketplaces. However, with NFTs, you can sell directly to your buyer without an intermediary, collect royalties on all future resales, broaden your audience to the entire internet, exhibit in virtual galleries and worlds, and sell 3D objects and clothing to virtual humans.
The Blurring Lines between Art and Technology
As we progress further into the digital age, the line between artist and technologist becomes increasingly blurred. Digital artists are both creators and innovators who use AI and blockchain to push the limits of what art can be. In this new era, an algorithm can be compared to a paintbrush, whereas the contract itself is like a canvas.
Looking into the Future
The advent of NFTs and digital galleries is only a springboard for further opportunities. With these innovations, it becomes clear that the art market is going to see even deeper shifts. The future will comprise virtual-reality experiences for art, AI-generated artworks, and forms of art which we have not come across yet. In this emerging age of AI, change is the only constant fact, and we are only limited by our imaginations. The digital art revolution has arrived, and it is rewriting the rules for what art is, how it is distributed, and even who should be called an artist. Well, this is our chance to get into and live in the beginning of art’s new golden age. This sail into the digital art revolution gives us a glimpse into a world where imaginations have no bounds and the 'canvas' is as large as the internet. As we continue to explore this unknown territory, one thing is certain: people will never look at art the same way again.
