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Posts Tagged ‘NFT

“What strip mining is to nature, the art market has become to culture”*…

Nyan Cat meme, sold for $590,000 as an NFT (non-fungible token)

Before Christmas, the only uncertain-times-era art world innovations I could think of were online art fairs and anonymous Instagram callout accounts. Now more innovation has arrived, and it’s come from outside, from the spheres of online culture and cryptocurrency speculation. Crypto has its origins in a mistrust of authority in various forms, from government-backed fiat, to the banking system, to the financial industry. Now it’s also challenging art world elites…

Cryptocurrency’s exploding again. NFTs (non-fungible tokens) in particular. The Nyan Cat meme goes for $590,000. The “ape in a fedora” CryptoPunk goes for $1.54 million. An animated gif of Trump’s bloated, naked corpse by someone called “Beeple” goes for $6.6 million, setting a new record for any Millennial artist, dead or alive. Christie’s launches a two-week sale of one of his works. It closes tomorrow and has already broken the record again. Current bid: $9,750,000…

The old gatekeepers have been losing their power for a while now. In his New York Times profile of KAWS (Brian Donnelly), who’s just opened a major retrospective at the Brooklyn Museum, Michael H. Miller writes, “One art reporter told me … that certain directors at Gagosian, the largest and most profitable gallery in the world, would automatically move anyone known to own a KAWS down on their waiting list to buy something.” Nevertheless KAWS is unstoppable. He has his career-defining homecoming museum show, his Peter Schjeldahl writeup, his many pages of coverage, his giant sculptures looming over Manhattan’s Park Avenue and Brooklyn’s Greenpoint waterfront, and, a couple years back, in 2019, he shocked the art establishment when his painting The Kaws Album (2005), a remake of The Simpsons’ remake of the Beatles’ Sgt. Pepper’s Lonely Hearts Club Band cover, sold at Sotheby’s Hong Kong for $14.8 million. Images and sculptures are accruing value in new ways: KAWS came up making street art and toy collectibles, and Beeple (Mike Winkelmann) made his name through Instagram and concert visuals. They symbolise the return of populism to the arts. I recently wrote for the Spectator about the trend of bad figurative painting that occupies the bardo between content and art: paintings that are easy to enjoy, and also to post. With NFTs, we’ve made another leap from art that’s easy to post, to art that simply is the post.

The old ways of valuing an object at auction (backdoor dealings, price fixing, and clandestine, corrupt practices) are coming up against the new ways (wild speculative mania and hyperstition) and falling short, for now. Beeple and KAWS, who have dominated the year’s artistic discourse, are outsiders that made it to the top. But it’s a very boring sort of outsider art, made by nerds for other nerds…

So much of today’s culture is a poor-quality remake of something better and more compelling. KAWS bootlegs pop-cultural staples like Mickey Mouse, the Simpsons, Peanuts, and SpongeBob in his own depressive comic style, while Beeple takes Mickey, again, Pokémon and Shrek, plus politicians like Joe Biden, Hillary Clinton and Kim Jong-un, and composites them into dystopian CGI montages. There are two paths for the golden-age American cartoon star: to be withdrawn, like the lascivious skunk Pepé le Pew, or, worse, to be reimagined as bad art, as childish and nostalgic art for those that don’t like ideas, or beauty…

There’s just too much of everything. There are too many different Oreos. 65 flavours in 8 years is too many. Too many Hot Chicken Wing Oreos, Waffle & Syrup Oreos, Jelly Donut Oreos, Supreme Oreos. There’s too much content that appears different but is the same. Too many identities are available to us. Too many manias. Too many hysterias. Examine nearly any aspect of society and you can see it’s gone too far. The reason so many flavours of Oreos are invented, according to the cookie’s brand director, is that this overabundance of choice reminds us of and drives us back to the original. It reminds us of how much we like the old Oreo, the Platonic ideal of the Oreos of childhood, the Proustian Oreo with the glass of cold milk. When there’s too much of everything however, at some point the original is lost, the memory is lost, and all that remains are faded, flat, hollowed-out derivatives…

The most popular series of NFT collectibles are algorithmically generated. And what they reveal, compared to the rest of culture, is a broader and more prevalent trend of art and entertainment that has the uncanny feeling of having been made by algorithm, even though it wasn’t. A painter and performance artist once told me, in the brutalist basement of the old Met Breuer, that Future had destroyed the future. Trap music has taken over the world, and it all sounds more or less the same now. It might be amazing, but it sounds the same. It’s supposed to sound the same. That’s the idea, what makes it so powerful. A talented producer can make a song in ten minutes on a live stream. A talented producer can make a song in less time than it takes to listen to. It’s never been quicker to write a song than now. Songs keep getting shorter and shorter. Records keep getting shorter and shorter. It’s a numbers game. I can write these columns pretty quickly now. This is an age of great speed and competition. We’re all looking for more popularity, new ways to find an edge; and yet, all this competition only seems to lead to blandness and mediocrity, rather than breakthroughs. Nor does it lead to collapse; even accelerationism doesn’t work. We want too much content, too fast, and it just leads to this endless algorithmic churning, this paint-by-numbers effect. You see it in art. In Netflix documentaries. Spotify playlists. Op-ed pages. The news. The latest manufactured outrage. Well-reviewed first-person novels about nothing. All so dreadfully banal and repetitive. This is what results when everything is forged in economies of dollars, of ether, of attention. Most culture now has the feeling of having been made by algorithm; and the reason for this, is that humans have begun to act like algorithms…

What non-fungible (which is to say, unique) tokens show us, is the absolute fungibility of culture today: its hazy, interchangeable meaninglessness. How it all belongs on a blockchain. How it all belongs on an infinite self-generating playlist ouroboros. It all belongs on a streaming service that slowly steals the hours and the heartbeats from inside you. When you look at the Discover Page Hotties, you look back into your own soul through a clouded mirror. “Online,” a mysterious anonymous cipher writes to you, “so much is dependent on an algorithmic matrix of mined data that the user’s identity is distilled so accurately that you can’t breach the identity that’s fed back to you via the screen. So no chance encounters, just a recurrent overlap of what you already are.” If life was once about chasing after a dream, it’s now about running away from the comfortable, hypnagogic lifestyles prescribed to you by the culture we create together, reflexively and imitatively. You’re living inside other people’s dreams; and these are not good dreams. So much of modern life is algorithmically scripted so as to exclude surprise or chance, and you must try to break free of this script every day. Rejecting all this post-death culture is a good place to begin…

The art world, disrupted by crypto: Dean Kissick (@deankissick) on why that’s a sad thing: “The Downward Spiral: Popular Things.”

See also “NFTs Weren’t Supposed to End Like This,” by Anil Dash, the co-creator of the NFT; further to which, this thread from Jonathan Zittrain.

And finally (as a cap on what’s turned out to be a trio of posts about scarcity, post-scarcity, and what matters in our economy; earlier here and here), “Red Bull, Elon Musk, and Matt Gaetz“… “post-scarcity is just another way of saying decadence.”

* Robert Hughes, writing presciently in 1989

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As we appraise art, we might spare a thought for an artist who, roughly a century ago, played an outsized role in revolutionizing the art world of his time, Pablo Picasso; he died on this date in 1973. Picasso is universally regarded as one of the most influential artists of the 20th century; he is known for co-founding the Cubist movement, for the invention of constructed sculpture, for the co-invention of collage, and for the wide variety of styles that he helped develop and explore.

Picasso in 1908

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