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SMARTER CONTRACTS - Tokenomics: A New Economy of Art

How can we move towards a creator-centric blockchain economy? with Kevin McCoy, Rhea Myers and Primavera de Filippi, chaired by Mark Waugh

organized by DACS designers&artists copyright society NTF taken over (parts of) the market by storm and controversial what do you have to know when you create a NFT?

kevin: based in NYC, video internet projects other digital arts, working together, transform of digital into hybrid analogue art form is the traditional way

rhea: code can be chained by tokens, why namecoin ?

kevin: bitcoin was the start, but uniquely owned by an individual practical controversial in an art museum - still experimental NFT concept

r: addresses social needs, that’s why it worked template - interesting creative medium when real money starts is changing hands smart contracts - program not law first emerging ironic (crypto kitties) when artist talk “rare art” without irony

k: power of the NFT - digital art ownership on the blockchain no interest first - NFT not true in itself, is more than the tech community decisions software standpoint has to involve this

r: satisfied artist making money if ether-stuff believers on twitter don’t copy art from foreign resources addresses the whereabouts of the artwork

k: afraid of all the issues involved started centralized, wants to decentralise find simple terms what a NFT is - metadata - add value to the image value, usages, ownership

r: meaning less identifying number, that you can clip any kind of metadata on cryptographic control - flaw - …

The evolution of NFT primavera - background architecture

creative commons, hyped 2015, collect the metadata, movement - NFT versus CCL? digital instance - impairing the economic needs and possibilities a business model for (digital) artists double click download problem holder of the copyright in the vault remixes - protocol of platform NFT “solves” two big problems: business model and tracking info challenging copyright laws blockchain tech as an artistic expression ??? blockchain art instead of NFT vaults live on their own - opportunity instead of reproduction capabilities create -> NFT becomes a seed for more focusing on the creation of new entities - control and governance evolution

mark: creating a sustainable space and past? k: relevance also on political organiser side financialized messaging network blockchain is just sitting - it is not running - transactions are the happening governance is in advance of an human actor always art around finance pool - social creative models that financial impacts come together

r: very true seeming events track on the blockchain - but can not be proofed/exported into the real world good model - pull whatever you can/have as an artist, you can make a living answers to the concerns of property etc. provenance, .., etc. for the art by the token

p: conceptual art(ists) not using NFT to sell the art but to create an artwork NFT mechanics as an happening, remix of an NFT standard, creative NFTs, meme machine, people involved, …, particular protocol natural consequences exploring the integration of the artist in the tech environmental NFTs tracking the benefit/impact of (..) interesting dynamics penny stock wise, raise back the natural (values)

r: states of a token can be used to get people to improve whatever

mark: a lot of is lost in plain sight, NFT can make the conditions visible, transparency , context of viewing and receiving of art have NFT disrupted the art world?

p: Not disrupted, extended. Now it is possible to have a digital original, sees a kind of value eventually we see more radical changes but right now NFT replicates the traditional concepts, relying on it, like galleries - trading platforms enables artist have been ignored so far to be seen (empty space idea)

r: NFT are not just code they are economics not bad not good k: direct control attracted him autonomy perceived value - people respect - blockchain cost is a lot to things to learn artist economy

mark: relationship between NFT and copyrights? is this a trend to continue?

p: you do not want to rely on a centralized platform governance in governance out the is no value in owning a copy, not a work that is signed NFT provides a verifiable value who identity where provenance copies are nice to have but …

r: caused by free minting - copy as steal when sold for the one dollar now ownership by the artist - art toasting, make T-Shirts, .. or NFTs

p: relying on the service on specific platform

k: odrl open digital rights language not central but on chain kind of contract-ish way works “best” as standard

r: how things should work, talk to as if you an lawyer, conservator, etc otherwise it will go horrible wrong

merk: what is the role of art schools in teaching it now? distance franchise - what is the relevance now for the future?

k: painter keep paintings

r: art is a good place to play with the future - NFTs and if you touch them I’ll block you is not helpful in anyway creative talk heads - generational opportunity with this medium

p: digital artist inviting artist not involved in digital here is how you make an NFT - go into NFT with an very nice informed way teach about the value beyond the obvious

chat: planetoid

closing words