BitCulture: Fine art on Solana, AI music, podcast + book reviews

1 June 2023

Cointelegraph By Savannah Fortis

BitCulture explores arts, culture, music and media in blockchain and Web3.

Fine art on the blockchain

Exchange.art head curator Haley Karren came to Web3 from some of the world’s leading art institutions and says that working with 14,000 artists on Solana’s fine art marketplace has broadened her tastes.

Exchange.art head curator Haley Karren (Supplied)

“I have a new appreciation for pixel art, voxels and things that really are very much native to this space. It’s been fascinating to see the difference between what I was more interested in two years ago and what I’m interested in now.”

Formerly a curator at New York’s Museum of Modern Art and the Peggy Guggenheim Collection in Venice, Karren says her role has always been as a “conduit” between contemporary artists and the rest of the world. Even more so now that she’s connecting traditional artists to a space that utilizes blockchain, NFTs and artificial intelligence.

“Digital art and traditional art spaces are moving together more and more. That’s a big push for us at Exchange.art, but there is still a little bit of a divide,” she says.

“There’s just a little bit of a bias against the blockchain in a sense, and I think it’s a little bit of not understanding it.”

She says often, collectors are unaware that the blockchain can be used for provenance, and artists don’t realize that NFTs can be programmed to collect royalties each time a piece is sold.

“It’s shifting some established norms in the art world that didn’t give artists enough ownership over their work,” she says.

“I try to help onboard people as well as artists or traditional art collectors. It is a process, you know, understanding what crypto is, understanding what a wallet is.”

In the traditional art world, galleries are the gatekeepers. For artists to sell works, galleries need to display them for buyers, taking commissions of up to 50% for doing so.

NFTs help replace these gatekeepers, giving control back to artists.

“It’s a huge shift in terms of sovereignty and shifting it back toward artists. It places much more responsibility on them to also market their work, to talk about their work and to present it coherently.”

Incorporating aspects of physical art (Lisanne Hack, Aspire, 2022)

Karren sees her current role as a “sounding board” for artists to think through how a series should be presented, and put out in the world, how many, how often, in which order?

One such artist Karren highlighted is Lisanne Haack and her “Synergy” series (pictured left). Haack is a digital painter who creates in a style that resembles oil painting, as well as charcoal and pastels.

“In a fascinating departure from physical art, she varies the texture of the support between canvas and paper,” Karren explains, adding that digital tools enable Haack to cut, paste, rework and repeat sections to create digital pieces of fine art.

Emerging trends in the space include artists “working with different AI programs and incorporating it into their creative process to then push themselves in a way that they wouldn’t have been challenged previously.”

She also points to conceptual art being put on the blockchain directly, as well as the emergence of illustration as a fine art.

“Finally, in this space, it has been given its due. It’s been fascinating to watch and learn more about this art form that has a long history and has not been considered a fine art form in the traditional art world.”

Musicians vs AI

AI has been causing a stir across the world with its ability to remix and create “new” works based on existing artists. Musicians and major record labels have taken wildly varying stances on this.

Dance/electronica musician Grimes was a trailblazer, offering to split 50% of the royalties with any “successful” AI-generated song that uses her voice. She said she finds it “cool to be fused with a machine” and is in favor of “open sourcing all art and killing copyright.”

But rapper Ice Cube, who rose to fame in the late 80s with N.W.A., said in a recent interview he would sue anyone producing AI tracks mimicking his voice and any platform that offers the track.

“It’s like a sample. Somebody can’t take your original voice and manipulate it without having to pay. I think AI is demonic, I think AI is going to get a backlash from organic people.”

Universal Music Group famously ordered streaming services like Spotify to ban AI from being able to train on the label’s content. However, last week the label signaled it’s not opposed to the technology if used in the right way, announcing a partnership with the “wellness sound app” Endel to create “ethical” AI music that “respects artists’ rights.”

UMG artists will use Endel’s AI technology to create “science-backed soundscapes, designed to enhance listeners’ wellness, including both new music and new versions of catalog music.”

Read also


Features

The best (and worst) stories from 3 years of Cointelegraph Magazine


Features

The legal dangers of getting involved with DAOs

Michael Nash, the label’s chief digital officer, said, “At UMG, we believe in the incredible potential of ethical AI as a tool to support and enhance the creativity of our artists, labels and songwriters, something that Endel has harnessed with impressive ingenuity and scientific innovation.”

Is this a cautious green light for AI creators from one of the music industry’s most powerful players?

`The Web3 Foundation partners with legacy music festival

On May 31, the Web3 Foundation, which is behind the Polkadot blockchain, announced a new partnership with Primavera Pro to create the inaugural Web3 Music Summit in Madrid this June. Primavera Pro is known for throwing some of Spain’s largest festivals, with hundreds of thousands in attendance. The conference focuses on blockchain technology, experiential events, and discussions on the future of music in the digital age.

DJ Agoria gives NFT owners 100% of recording royalties

The French DJ Agoria announced his entrance to the NFT scene via the NFT music platform Bolero. Agoria revealed that his fans who collect his music as NFTs would see 100% of the royalties redistributed to them. He said it’s “about time” to give back to fans and also sees it “as a sincere and legitimate opportunity for my traditional partners to step into our ecosystem.”

Elon’s cryptic meme about AI

Tesla CEO Elon Musk has a love-hate relationship with AI. While he helped found OpenAI, creates robot armies and is buying up GPUs to create his own generative AI tool, he has also warned about its destructive capabilities. Last week the billionaire tweeted a cryptic meme about people entering the AI space, going from everyday-looking people to corpse-like zombies.

Podcast review: Edge of NFT

The Edge of NFT podcast explores the intersection of emerging technologies and culture, exploring everything from art to gaming and animation.

Edge of NFT podcast logo.

Hosted by Eathan Janney, Jeff Kelley, and Josh Kriger — three industry insiders and founders of Web3 advisory MainChain Venture — the show racked up more than 100,000 listeners in the last year.

This podcast goes beyond technology and looks at the human element of how NFTs change the way we interact with communities and industries. Ranging from 30-60 minutes, each show features a guest interview and explores topics like building better Web3 games, the importance of culture and royalties to Web3, and even tax loss harvesting of NFTs.

Read also: Top 10 crypto artist Trevor Jones on being rich, rekt and rich again: NFT Creator

Big-name guests they’ve had on the show include Dim Mak founder and DJ Steve Aoki, The Sandbox founder Sebastien Borget, VeeFriends creator Gary Vaynerchuk and Filecoin Foundation President Marta Belcher. The presenters also regularly travel to high-profile events like Consensus and ETHDenver to conduct interviewees and help give listeners a sense of the flavor of the event.

In last week’s episode, they covered an event in New York at Christie’s art gallery featuring a 152-piece generative art collection of physical hand-drawn monoprints paired with NFTs.

Book review: Crypto Titans, by Markus Thielen

Crypto Titans was released in May.

Subtitled “How trillions were made and billions lost in the cryptocurrency markets,” this 405-page book is out now. Crypto Titans recounts the last 15 years of the cryptocurrency industry — starting from the publishing of Satoshi Nakamoto’s Bitcoin white paper in 2008 to the ongoing banking crisis and the U.S. crypto crackdown of 2023.

More than just a history, Crypto Titans reveals the interconnectedness of everyone and everything in crypto. How regulatory action in one country led to a massive crypto boom in another. Where some crypto empires were built, and others turned to rubble in a few days.

If you’re looking for a gripping edge-of-your-seat read, though, you may want to stick to fiction. This book focuses on being objective and fact-based — with plenty of references to boot: 631, in fact.

This means that unless you’re a history buff, it can get a little dry just talking about fact after fact. The book overcomes this with plenty of chapters and sections — meaning you can easily dip in and out, picking it back up with a fresh mind.

There’s even a handy little index at the back, in case you want to get a quick refresher on a specific company or person. Sam Bankman-Fried gets 68 mentions; the Securities and Exchange Commission, 41.

The book is great for anyone with an interest in the history of crypto. Readers need not be familiar with crypto or financial lingo to enjoy it, though a basic understanding will certainly help.

Memes for the road:

  

You might also like

South Korea eyes KuCoin, BitMEX in crypto exchange crackdown  
South Korea eyes KuCoin, BitMEX in crypto exchange crackdown  

South Korean authorities are reportedly looking into blocking crypto exchange platforms that may have operated without adhering to the requirements set by the country’s financial regulator. On March 21, local media Hankyung reported that the Financial Intelligence Unit (FIU) of the Financial Services Commission is considering sanctions against crypto exchanges for allegedly operating in the country without reporting as an operator to the appropriate regulators. South Korean financial authorities require crypto exchanges to report to regulators as virtual asset service providers (VASPs) under the country’s Specified Financial Information Act. The FIU is investigating a list of exchanges and is conducting consultations with related agencies. The regulator is also considering sanctions, such as blocking access to the exchanges, as they begin to prepare countermeasures. Exchanges operated without VASP reportsThe list of exchanges that have allegedly provided services to South Koreans without the appropriate VASP reports includes BitMEX, KuCoin, CoinW, Bitunix and KCEX. The exchanges reportedly provided marketing and customer support to Korean investors without going through the country’s compliance process. Under the country’s laws, operators of crypto sales, storage, brokerage and management are required to report to the FIU. If exchanges don’t comply, their business will be considered illegal and subject to criminal penalties and administrative sanctions. An FIU official said in the report that measures to block access to the exchanges included in the list are being reviewed. The official said the financial regulator is currently consulting with the Korea Communications Standards Commission, the regulator in charge of the internet, on how they can block access to the exchanges. Related: Wemix denies cover-up amid delayed $6.2M bridge hack announcementSouth Korean exchanges face scrutiny Apart from foreign exchanges, South Korean crypto exchanges are also facing scrutiny over suspicions and rumors of financial misconduct. On March 20, prosecutors raided Bithumb following suspicions that its former CEO, Kim Dae-sik, embezzled company funds to purchase an apartment. The authorities suspect that the exchange and its executive may have violated some financial laws during the apartment purchase. However, Bithumb responded that Kim had already taken a loan to repay the funds. In addition, rumors of intermediaries getting paid to list projects on Bithumb and Upbit surfaced. Citing anonymous sources, Wu Blockchain said projects claimed to have paid intermediaries millions to get listed on the exchanges. Upbit responded, demanding the media outlet to disclose the list of digital asset projects that paid brokerage fees. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Australia outlines crypto regulation plan, promises action on debanking  
Australia outlines crypto regulation plan, promises action on debanking  

Australia’s government, under its ruling center-left Labor Party, has proposed a new crypto framework regulating exchanges under existing financial services laws and has promised to tackle debanking.It comes ahead of a federal election slated to be held on or before May 17, which current polling shows is shaping up to a dead heat between Prime Minister Anthony Albanese’s Labor and the opposing Coalition led by Peter Dutton.The Treasury Department said in a March 21 statement that crypto exchanges, custody services and some brokerage firms that trade or store crypto will come under the new laws.The regime imposes similar compliance requirements as other financial services in the country, such as following rules safeguarding customer assets, obtaining an Australian Financial Services Licence and meeting minimum capital requirements.Australia’s Treasury says its new crypto regulations have four priorities. Source: Australian Department of the TreasuryIn August 2022, the government initiated a series of industry consultations to draft a crypto regulatory framework.“Our legislative reforms will extend existing financial services laws to key digital asset platforms, but not to all of the digital asset ecosystem,” the Treasury said in its statement.Small-scale and startup platforms that don’t meet specific size thresholds will be exempt, along with firms that develop blockchain-related software or create digital assets that aren’t financial products.Payment stablecoins will be treated as a type of stored-value facility under the Government’s Payments Licensing Reforms; however, some stablecoins and wrapped tokens will be exempt.“Dealing or secondary market trading in these products will be not treated as a dealing activity, and platforms where they are traded will not be treated as operating a market simply because of that trading activity,” the Treasury said.As part of its crypto agenda, Albanese’s government has also promised to work with Australia’s four largest banks to better understand the extent and nature of de-banking.There will also be a review into a central bank digital currency and an Enhanced Regulatory Sandbox in 2025, allowing businesses to test new financial products without needing a license.Related: May election could open floodgates to institutional crypto: OKX Australia CEOAlbanese’s government intends to release a draft of the legislation for public consultation. However, a change of government could be on the horizon with a looming federal election, a date for which is yet to be called.Dutton’s center-right Coalition had earlier promised to prioritize crypto regulation if it wins the election.The latest YouGov poll published on March 20 shows the Coalition and Labor neck in neck for a two-party preferred vote.The Coalition leads for topline voting intention, while Albanese continues to lead as preferred prime minister. Source: YouGovCaroline Bowler, the CEO of local crypto exchange BTC Markets, said in a statement shared with Cointelegraph that the areas of reform are sensible and would keep Australia competitive with global peers.However, she thinks there “will be additional detail required on capital adequacy and custody requirements.”“We need to ensure that these requirements aren’t overly burdensome for business investment in Australia,” Bowler said. Kraken Australia’s managing director, Jonathon Miller, said there is an “urgent need for bespoke crypto legislation” to address the existing confusion and uncertainty in the country’s industry.“We believe that by establishing a clear crypto regulatory framework and mitigating problems like debanking, government can remove the barriers hampering growth in the Australian economy,” he said. Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle

Bitcoin price thaws after Trump statement — Trader says ‘stay nimble and cashed up’  
Bitcoin price thaws after Trump statement — Trader says ‘stay nimble and cashed up’  

Bitcoin (BTC) price rallied to an intraday high of $87,453 in the early hours of the NY trading session but quickly retraced its gains to $83,655 shortly after US President Donald Trump made a video appearance at the Digital Asset Summit in New York. Prior to the video statement, rumors circulated on X, suggesting that President Trump would announce zero capital gains taxes on certain cryptocurrencies or issue a favorable statement about the US strategic Bitcoin reserve. To the disappointment of some traders, neither rumor proved to be true, and Trump simply doubled down on his promise not to sell Bitcoin that has been confiscated by the government, and he called for Congress to enact clear stablecoin legislation as soon as possible. The most positive statement made by President Trump was his restated goal of making the US the leader in all things crypto. “Together, we will make America the undisputed Bitcoin superpower and the crypto capital of the world.” As is commonplace for crypto markets, traders clearly bought into the rumor that Trump would make some sort of pro-Bitcoin executive order statements, and once this was clearly not the case, they sold on the news. In an X post, chartered market technician Aksel Kibar said that there is still a chance of Bitcoin price correcting to $73,700. BTC/USD 1-day chart. Source: Aksel Kibar / X Kibar said, “Long-term chart on BTC/USD. Still looks like a pullback to the broken $73.7K. What follows from here will decide on the following several month’s price action.” Not all of Bitcoin’s recent strength is attributed to excitement over today’s Trump statement. On March 19, BTC responded positively to the release of FOMC minutes and Federal Reserve Chair Jerome Powell’s confirmation that the Fed’s quantitative tightening regime would reduce its pace and that the possibility of two interest rate cuts in 2025 remained on the table. BitMEX co-founder Arthur Hayes took a victory lap at what he described as the Fed’s admission that QT would essentially end on April 1, but he cautioned that while $77,000 may have been the Bitcoin price bottom, surprise bouts of volatility could lead to more pain in stocks and BTC. Hayes said, “JAYPOW delivered, QT basically over Apr. 1. The next thing we need to gt bulled up for realz is either SLR exemption and or a restart of QE. Was BTC $77K the bottom, prob. But stonks prob have more pain left to fully convert Jay to team Trump so stay nimble and cashed up.” Related: Trump says US will be ‘Bitcoin superpower’ as BTC price breaks 4-month downtrendAs reported by Cointelegraph, a majority of Bitcoin’s recent price action has been driven by activity in the futures markets, but the reappearance of the BTC Coinbase premium could be a sign that spot demand is returning to the market. Bitcoin Coinbase premium index. Source: CryptoQuantThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Open chat
1
BlockFo Chat
Hello 👋, How can we help you?
📱 When you've pressed the BlockFo button, we automatically transfer to WhatsApp 🔝🔐
🖥️ Or, if you use a PC or Mac, then we'll open a new window to load your desktop app.