Greg Oakford, co-founder of NFT Fest Australia, provides a collector’s perspective on the Web3 digital art world. He discusses the trend of turning concert merchandise and memories into durable digital goods on the blockchain. Oakford believes more musicians and entertainers will follow Snoop Dogg’s example of creating evolving concert tour collectibles, which tap into fans’ nostalgia and create a new line of digital merch. He outlines the benefits for both artists and fans, such as token-gating exclusive content, deeper engagement, collaborations with digital artists, and the ability to trade on secondary NFT markets.
Oakford also highlights some notable sales in the NFT art market, including Dmitri Cherniak’s “The Goose” from the Ringers collection, which sold for $6.2 million at Sotheby’s Grails II auction. He mentions other successful sales from the auction, such as Snowfro’s Chromie Squiggle #1780 and Tyler Hobbs’ Fidenza #216. Oakford discusses Sotheby’s move into the metaverse and its commitment to digital art and NFTs, attracting new collectors and younger audiences. He also mentions Sotheby’s recent sale of a first edition of the U.S. Constitution, which drew attention to the crypto community’s excitement about live auctions.
In addition, Oakford mentions Sotheby’s upcoming generative art program, which will feature Vera Molnár’s groundbreaking on-chain generative art project titled “Themes and Variations.” The program will be launched with a Dutch auction, marking a new milestone for Sotheby’s.
Overall, Oakford provides insights into the growing popularity of NFTs in the art world and the potential for artists and collectors in the Web3 digital art space.