NFTs. They’re the gift* that keeps on giving. And now they’re coming to Sydney.
Even though many Aussies have NFI what an NFT is, Sydney is soon going to be home to a “major international NFT exhibition”. A place where NFTs will be displayed. Like an art gallery. If only that was a thing already.
NFTs, or non-fungible tokens, are used to verify unique items. The blockchain-created certificate of authenticity is used for a digital asset such as art. ‘Non-fungible’ means unique – basically, the whole thing is digital proof of ownership.
I’ve been copy+pasting that paragraph a lot lately, with something new NFT-related popping up more than once a week. There’s a hell of a lot more involved in it than that blurb, and a lot of debate over whether or not the whole concept is a scam. But NFT sales have so far reached around $3.5 billion in the first three quarters of this year (according to the Hiscox Online Art Trade Report 2021), so the digital art market is doing something right.
This NFT exhibition is coming to Sydney in March 2022. The organisers tell us the exhibition, ‘Satellite’, will call Bondi Beach home, bringing with it over 40 works from “artists that are shaping the NFT art world”.
“Satellite will present over 40 pieces featuring the largest cross-section of NFT art from leading Australian and international artists,” they say.
There’s a bunch of artists exhibiting really beautiful work. There’s also beauty in some of their names (Into the ether and Bitcoin Angel are two standout pieces – here’s the uncropped version of the latter by Trevor Jones).
When Satellite opens on 9 March 2021, visitors will have the opportunity to purchase works virtually or through QR codes that link to NFT marketplace Foundation. The organisers say each NFT contains incorruptible in-built documentation of their origin, ownership history and current ownership status.
2022 is going to be wild, friends.