AI art on the move, NFT NYC coming up, and more | Cornering The Market #62

Collector's Corner

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Weekly generative art NFT news, beautiful art, and investment opportunities recorded Mar 25, 2024

This episode can also be found on our Youtube channel here.

Episode Artwork: CryptoPunk #7804

Timestamps:
00:22 | Intro
04:55 | Market recaps
14:41 | Steven weighing in about Memento Mori
18:36 | BlackRock tokenized asset fund in ETH
25:50 | Changing NFT platforms
35:23 | Happy hour at NFT KYC
38:30 | What can artists expect partnering with 8Nap
42:34 | Exciting upcoming drops
44:13 | Great art at great prices
48:23 | Artists to highlight
55:29 | Emergence of disruptive platforms

Show notes:
Where to find us
Collector's Corner Twitter | https://twitter.com/collectors_xyz
Jared's Twitter | https://twitter.com/jared_poz
P's Twitter | https://twitter.com/astamcloud

Useful Links
NFT price floor | https://nftpricefloor.com/
Fxhash market overview pages | https://www.fxhash.xyz/marketplace?sort=createdAt-desc

Market Recaps
- Sentiment is mixed depending on which part of the art market you are focused on - Ordinals and AI art are still holding up quite well, whereas code based gen art isn't doing as hot (at least in ETH terms)
- There does seem to be a quiet undercurrent of buying, especially on the top end as we had a $16.4m cryptopunks sale, which was mega to say the least. Also a few new funds have emerged and are buying in size. Bullish
- Memento Mori by Richard Nadler released on gmdao as their first Ordinals release on their new platform called gmscribe. I love to see the innovation from gmDAO and in some ways this puts them ahead of artblocks, certainly they beat them to Ordinals! They minted at 0.049 BTC and are right around there at 0.051 seeing some solid sales.

News & Events
- Although it's not direclty art related, Blackrock putting $100m USDC on the ETH blockchain for a yield bearing product is super bullish for digital art. You might ask why, and it's because it shows the confidence that a world-leading financial institution has in the ETH blockchain as a store of value. Perhaps youv'e heard that all art is going to Ordinals, and I'm sure some will, but this is a signal to the whole world that the ETH blockchain is deemed secure enough (not to mention AI art files are too costly to inscribe onto BTC)
- Artblocks is pausing releases for at least 5 more weeks and creating an open model where artists can release (similar to fxhash), and also revamping their curated requirements. It will be interesting to see how this goes!
- Did I mention the $16.5m alien cryptopunk sale? Yeah I think it's worth mentioning twice. That is two sales over $16m in one month. I think just a matter of time until art returns

Great art at great prices
- Factura by Mathias Isaken - my favorite gmdao collection is sitting at a 0.15 ETH floor
- O's by Wagedu (Nathan Cornes) - currently minting on Gamma, it's great art to get your Xverse wallet set up for! This dynamic ordinals art changes with every bitcoin block and is only ~$275 to mint
- Miniscapes by Rick Crane and Rich Poole - going across all the chains, we're big fans of this XTZ release that is so clean and minimalist, but infused with the power of code based gen art. This duo is unlike any other in the space and I'm exvcited to see more of their work (a bit of foreshadowing...)

Upcoming releases
- 8nap Art's first release, a collab between Rich Poole and Rick Crane will release on 4/23! Big congrats to Jared and the artists for getting this across the finish line, and stay tuned for more details
- Los Angelizing by Margaret Murphy - releasing on 3/25 on Verse in collab with Tender, 25 pieces, individual auctions (all pay the same clearing price), 25 fantastic post photo AI images featuring Los Angeles that I really enjoy

Art or artists to highlight
- I wanted to quickly highlight Strata by Evergreendazed, a brilliant post photo AI collection released on Solana that has mind bending imagery. A wonderful look at the unique experiences that AI art can bring to the table
- I have to go back and highlight LIfe in West America by Roope Rainisto as the collection that now over a year after releasing has significantly influenced the AI art landscape with a push towards photo / video surrealism. This is truly a paradigm changer and one that I believe will continue to be remembered