Non-fungible tokens (NFTs) have become one of the most popular segments on the blockchain ecosystem which revolutionises the way these digital artworks or assets are being created, distributed or sold. There are several types of NFTs today ranging from PFP – which stands for profile picture in projects such as Bored Ape Yacht Club; music, art pieces, to generative art to name a few. In this article, we take a look at what is generative art as we speak to the founder of ArtJam.com, Alvin Koay.
Alvin is a contemporary fine art artist and technology enthusiast who began his foray into creating NFT artworks during the lockdowns in 2021. As the NFT market started to pick up, he saw the opportunity to digitise his artworks and sell them on the NFT marketplace.
“When NFTs and blockchain were all the rage, I knew I could capture all my personal art styles into codes and algorithms alongside my programmer son, Nicholas. As most of my physical artworks are not for sale, I wanted my works to be in the form of NFTs and this gave me the opportunity to keep my favorite physical works for myself and selling only the digital NFT versions. That’s how I got into generative art and launched ArtJam.”, said Alvin.
With generative art NFTs, Alvin believes that it is a gamechanger for many programmers and artists.
So what is Generative Art?
Alvin explained that generative art is created using computer algorithms. In the subsection of the art world, generative art has always been suppressed due to the lack of technology where the creator of generative art is unable to show proof of provenance or rather who the actual creator was all this while.
“With blockchain technology, an NFT will give proof that the work originated and created was by the particular artist. This has brought a major change in the world of generative art.”, he added.
Upon learning of the potential to monetise his creations, he deep dived into the NFT scene by digitising his artworks, putting his own unique spin combining creativity and technology. In March 2022, ArtJam launched its first collection titled Bulat-Bulat which consists of 1,100 pieces of single edition NFTs. In Bulat-Bulat, everything was captured using algorithms and each theme within the collection has its own backstory. This collection is a combination of Alvin’s signature art style and the programming skills of his 18-year-old son.
Alvin says the growth of the NFT scene has changed the way artists in Malaysia traditionally make a living from commissioned artworks to achieving creatively depending on what artists want to personally achieve. To create financial value for their work, Alvin and the team are working with a few real-world gallery platforms to bring the collection to fine art buyers.
Upcoming plans for ArtJam.com
“We are working on listing the collection on dozens of the largest online furniture retailers in the US such as Wayfair, Home Depot, Walmart, Houzz, and Overstock. These marketplaces have a major section on wall art or home décor in their stores, and physical prints of each edition will be listed there.”
In addition, Alvin is also experimenting with merchandising and partnerships with city councils around the world to sponsor large murals within the cities.
The future of NFTs
NFTs have been on everyone’s mind when it peaked in 2021, but what is the future of NFT? As with any new technology, NFT can be ‘a hype cycle’. But the space is fast-changing and the wide-ranging use cases for NFT technology will also continue to grow as NFTs are not just for art.
Explaining further, Alvin says, “NFTs will be more mainstream in a few years’ time with non-art related goods and services tied to them.”
The first NFT minted by the Penang state
In conjunction with the launch of the state’s Creative Digital District @ George Town (CD² @ George Town) on 25 February 2022, the Chief Minister of Penang performed his first NFT minting live! The 114 acres digital district aims to attract tech startups, investments and talents to strengthen the digital ecosystem of Penang.
NFT is transforming the digital ecosystem, and the future of NFTs will give more power to artists.
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