DUBAI: Even before the pandemic shut down cinemas, the use of technology transformed the way art is viewed, spreading to new audiences and expanding business opportunities.
In Dubai, the Theater of Digital Art (ToDA) and the Generative Gallery are hosting a multidimensional art exhibition, presenting what it calls “an immersive, non-fungible (NFT) experience with seven international modern artists”. The event will be held from November 23 to February 28, 2022 at Madinat Jumeirah, Dubai.
Visitors will discover a wide selection of modernized NFT art with unique physical and digital artwork, which guests can purchase in crypto or on a card with little more than a swipe of a smartphone.
The event aims to promote Dubai’s broader plans to boost tourism and recreation as it pulls the country out of the pandemic period. It also brings together traditional forms of interaction between the art market and the art market, given the non-material essence of digital art and the new mechanics offered by the crypto-economy.
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âThere aren’t that many places that can represent digital art,â said Daria Prodaevich, artistic director of ToDA. Business recorder at the event. âIn the future, ToDA will showcase more digital art. This is an international exhibition featuring 7 artists.
“We have a special NFT collection which is going to be sold in crypto and physical monitor.”
Non-fungible tokens (NFTs) have become a buzzword in digital art, with new forms of supply and demand emerging in the UAE alongside online platforms as a news product. technologies. These types of NFT artwork provide modern ways for people to view, buy and sell digital artwork and can be worth millions of dollars.
Anna Smirnova, creative producer and art curator at Generative Gallery, said the artists created their pieces especially for these frames.
âWe have a limited collection of frames right behind me from several artists who created the artwork especially for this exhibition and when you buy the artwork the NFT goes with it,â Smirnova said. Business recorder .
“It is the same process as the physical tools of art, artists take the order or the savings of these digital frames”
Speaking about the digital aspect, Smirnova said the project mixes the digital and the physical aspect.
âFor many digital artists, this is a real problem. They want to play not only digitally, via screens and cellphones, but also offline.
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“That’s the main goal of this generative gallery project – bringing their digital art out of personal device screens into offline spaces because we really believe it deserves it.”
The exhibition includes 3 unique art areas. The main area will feature 40 minutes of immersive digital art content, while the second will feature artist interviews as well as information about NFT. The last room will present works of art by other artists.
What are NFTs?
NFTs, a type of digital asset, have exploded in popularity this year, with NFT artwork selling in the millions of dollars.
The trend puzzles those who might wonder why so much money is spent on items that only exist in digital form and can be viewed by anyone for free.
But proponents see NFTs as the next phase in art collecting.
Simply put, an NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the authenticity of the NFT and who it belongs to.
So unlike most digital items which can be reproduced endlessly, each NFT has a unique digital signature, which means it is one of a kind.
NFTs are usually bought with cryptocurrencies or dollars and the blockchain keeps a record of the transactions. While anyone can see the NFT, only the buyer has official owner status – a kind of digital bragging rights.
Buying an NFT of an image or video does not normally mean that the buyer is getting the copyright to the underlying material.