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Art in the Age of Web 3.0: The Potential of NFT and the Question of Counterfeiting

Posted on December 3, 2022 by admin

throughout history, Innovators were the first to discover new technology possibilities and frontiers, With experimental approaches far from the control logic of traditional devices. The Museum of Contemporary Digital Art believes that artists’ research will not only determine the cultural vitality of the blockchain, but its long-term trajectory.

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Opportunities to meet creators and students

One of the missions of the Museum of Contemporary Digital Art is Give chances For artists, collectors, and those just curious about how Web3 technologies work and what methods can be used to develop usage, collection and support dynamics Innovative and above all respectful of the individual parts.

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Since 2019, we’ve sponsored events, conventions, and exhibitions both IRL (“in reality”) and in the metaverse with the goal of Bringing audiences and industry experts together and interacting. It is imperative that MoCDA ensure that technologies such as blockchain, NFTs, DAOs (Decentralized Autonomous Organizations) and metaverses are used as much as possible by creators and students to ensure that Not only large companies and platforms that indicate how to use it.

In fact, if we want to do this Decentralization and creativity continue to play an important role for Web 3we must put ourselves in the order of ideas that Web3 is not the future of art, but rather the opposite: the blockchain is a tremendous tool when used efficiently, just like a brush or a typewriter.

Anonymity and transparency in the blockchain

The blockchain allows the user to protect their privacy in a way that is unimaginable in Web 2.0. Anonymity It is an essential aspect of the blockchain, without which Dynamics Web3 would not be possible. Users no longer have to introduce themselves by their first and last names, and confirm their identity with their dates of birth and home addresses, but have cryptic addresses made up of numbers and letters that do not denote any traditional official information.

At the same time, The blockchain is structured so that there are no secrets: All cryptocurrency exchanges and NFTs are completely available online, without the possibility to hide them or make them private. In short, blockchain is more and less private than Web 2.0: The user is completely anonymous but their activity history is available to anyone.

NFTs and copyrights

The NFT owner does not automatically acquire copyright: Artists can enter this information into the smart contract but this situation is not yet regulated by transnational or national laws. usually, NFT holders do not have the right to use them as they wish, A fact that can lead to misunderstandings between collectors, artists and third parties.

In the past, it has happened that works have been used by third parties with the prior consent of the artist alone, without informing the owner. The more experienced artists clearly indicate the ways in which the owners can use their work by contacting themwhen the latter is not completely anonymous, after an NFT transaction in their crypto wallets.

Blockchain has made it possible to facilitate, and in some cases, simplify the process of buying and selling digital artwork. International legislation and practices that regulate this field tend to be unwilling to welcome these changes in that they make them part of traditional practice. Therefore, artists and collectors find themselves working with a hybrid approach in a context governed by a decentralized and anonymous logic, and at the same time, they look to national laws to compensate for the shortcomings of Web 3.

For artists, one of the main attractions of smart contracts is the automation of percentage distribution on secondary sales. Because everything is recorded on the blockchain, there is no black or hidden market in NFTs: sales and purchases are tracked and made available to anyone online, making it possible to automate the distribution of percentages of sales without having to contact individual parties to ensure that everyone gets what they want. deserve it.

fake knot

The fundamental aspect of digital art derives from the fact that it can be repeated infinitely without apparent loss of information between one copy and the next. NFT-related work is an artist-approved release, but unless precautions are taken, it will always be ready to be viewed and saved by anyone who doesn’t own it.

in this meaning, The NFT by itself is not a certificate of authenticity in the traditional sense: What makes the difference is who, or rather the crypto address, spends it on the blockchain. Over the past few months, we have seen several cases of counterfeiting where copies of digital works were minted from crypto titles that were not associated with the original artists. These were bootleg copies bought by collectors without verifying their provenance. If, due to the nature of the blockchain, It is practically impossible to reduce the counterfeiting of digital works, It is necessary to educate collectors and the public to interpret an individual NFT’s history record to ensure that it was indeed minted by the artist and not by someone else.

conclusions

MoCDA Documents and supports research and teaching activities, Playing a unique role in the convergence of more traditional cultural institutions and the decentralized dynamics of Web 3. We are working on projects Which will not only allow our museum to interact in a coherent manner with both traditional museums and Web3 platforms, but also has the ambition to Track the way For all other cultural institutions that want to follow our path and enrich the context, the context of digital art, which more than ever needs a plurality of viewpoints and cross-sectional attention from the public.

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