“Art will not save us,” says Marina Abramović in light of the current world situation. What we need now are “fewer artists” and “more heroes”: people who are committed to climate protection or liberal democracies — and who also use the opportunities offered by the young blockchain economy. That Nadezhda Tolokonnikova from Pussy Riot with the sale of non-fungible tokens (NFTs) raised more than seven million dollars to help Ukraine via an independent, decentralized online structure that, according to performance artist Abramović, was an incentive to enter the NFT business.
on me Blockchain Palm, aiming for much lower power consumption than its parent blockchain Ethereum or Bitcoin, has remastered Abramović’s film “The Hero” from 2001: from the artist’s video work in memory of Tito’s heroic father, a partisan, with a demo White flag on a gray horse, “The Hero 25FPS” ran at 6250 frames. These files can be purchased as jpg files or multiple gif files, each associated with a unique certificate of ownership in the blockchain: the NFT. It costs £150 if you can get a copy on the CIRCA platform. Abramović intends to use 25 percent of the proceeds to support “heroic” projects: applications for grants can be submitted on the sales website.
So far, Abramović’s NFT collection has raised £76,000. This is modest considering he is a world class artist whose work is being promoted by CIRCA on big screens all over the world in places like London’s Piccadilly Circus. However, tokens must become a secondary market occupation – so it is always hoped – earning royalties that increase their value. With each resale, 5 percent goes to the artist, 2.5 percent to CIRCA, and another 2.5 percent to the grant fund.
Is that enough to perfect a project that’s no more technically interesting than selling photos based on video years ago? After all, Marina Abramović doesn’t just care about money or her own profits in her first step into the NFT business, which came after the sensational $60.25 million sale of NFTs from Beeple. Christie’s Saw a sensation at the start of 2021. Fixed in Corona Lockdown, it seemed to some as if non-copyable tokens were the true messianic promise of the digital age, as if they brought custom salvation in the form of a decentralized, grassroots art trade without intermediaries with digital assets Mining it does not turn anything virtual into crypto gold. Others have vilified NFT images as a climactic sin based on brute computing power, stripping art from being art, to the subject of speculation by mostly male nerds and praising commerce driven by greed.