Monstercat Launches First NFT Crypto Art Collections
We’re partnering with digital artist Giant Swan and producer Varien to bring you these exclusive, Lost Civilization themed artworks!
From Mike Darlington, Monstercat co-founder, and CEO:
Innovation that leads to new transparent royalty streams for artists has been a driving force of our business since the beginning. I quickly recognized how NFTs (Non-Fungible Tokens) can revolutionize the world for artists; not just for musicians, but for creators across all forms of artistic expression. Suddenly content posted on Instagram and other social platforms could have real financial value to collectors. Artists now have the potential to reach sustainability and be discovered by wider audiences while creating art on their own terms. I love that!
Source: Giant Swan’s YouTube
I stumbled upon Giant Swan’s work on SuperRare, which led me to discover this video on YouTube. I fell in love instantly and knew Monstercat needed to work with him. I could sense his artistic interpretation of our Lost Civilization universe would be magic. It’s been a pleasure partnering with him, and I am overwhelmed by the incredible work we’re going to unveil on Wednesday - Monstercat’s first (of hopefully many) NFT collection, ORIGINS, exclusively on Nifty Gateway. Moreover, having Varien compose the audio for this art is special for many reasons, not least of which is her immense industry-recognized talent.
The Constellations Pack came together as a means to introduce an entirely new audience to NFTs - it’s my hope that our community’s curiosity will be piqued enough to start collections of their own. The art for our Constellations Pack was done by our incredible in-house design team featuring audio once again composed by Varien!
I asked my friend Matty, one of the most knowledgeable and switched on bloggers in the crypto space, to share a quick history of art NFTs and forecast the future of this technology - read on below to get the inside scoop. I can’t tell you how thrilling it is to be on the cutting edge of a new medium that serves as a form of expression and sustainability. NFTs offer a chance to change the world for creatives, if we nurture the technology and the community. Let’s go!
Where It All Began…
“In 2017,” begins Matty, “cute cat images on the internet began to sell for hundreds of thousands of dollars. Nothing physical was exchanged; this transaction was simply digital currency (or cryptocurrency) in exchange for digital images.”
“The aptly named 'CryptoKitties' is a game built on blockchain technology. This experiment shook the crypto world and opened the door to a new movement - the ability to sell digital creations with a ‘certificate of authenticity,’ thus making them valuable to artists, investors, art collectors, and beyond.
These digital images were ‘NFTs,’ short for Non-Fungible Tokens.”
What’s the difference between 'Non-Fungible Tokens' and 'Fungible Tokens?'
Matty explains, “Physical AND digital objects can be fungible or non-fungible. Fungible means that the item in question can be replaced or exchanged at an equal value. Money, including cryptocurrency, is an example of a 'fungible' item; in other words, if I traded you 1 bitcoin for a different bitcoin, you would feel as if the exchange was equal… even though they are technically different!
'Non-fungible', however, means that the item is unique and CANNOT be replaced with an item of equal value. You couldn’t claim that da Vinci’s Mona Lisa was the same as van Gogh’s Starry Night... nor could you pass off a poster print of one for the original painting. That’s what makes these two famous works of art non-fungible.”
“In the digital space, many types of ‘tokens’ can be non-fungible. Digital art, like CryptoKitties, is an example. But other digital items, like a sword in a video game, or a virtual land, can be non-fungible as well.”
What makes NFTs so special?
Since NFTs are unique, their ownership can be traced even when sold or traded. And since individual ownership can change, it stands to reason that these tokens will have varying values. As such, marketplaces have sprung up to share and sell NFTs.
Matty expands, “These ‘digital tokens’ exist on blockchain, which is the technology behind Bitcoin. Ethereum, a blockchain-based software platform, has taken this technology and opened the doors for anyone to create apps and marketplaces (like SuperRare and Nifty Gateway) for art enthusiasts to buy, sell, and collect art as NFTs.”
Why are NFTs important for Artists?
Imagine you were an artist already digitally creating art through illustration or animation software (to name a few) -- or uploading photographs from your camera. You might be accustomed to turning those artworks into physical prints and flogging them on ecommerce shops, or even in physical stores and galleries. But what if you could more quickly and easily turn them into NFTs instead?
“In the legacy art world, collectors support and collect from their favorite artists. Traditionally this has meant obtaining a physical piece. But NFTs make it easy to verify the authentic owner of the token, and the transaction (including receiving the artwork) happens immediately. Plus, collectors can display their NFTs via their digital wallets, literally redefining what it means to showcase your collections!”
Over the past year, artists have entered the scene to ‘tokenize’ and sell their work. And as this technology grows in popularity, so do the opportunities for artists to make a sustainable living from their craft. In some cases, NFTs have become a highly profitable outlet for creative artists.
“An artist called Fewocious, who only just turned 18, recently sold $374,000 worth of Digital Art within 24 hours through Nifty Gateway,” shares Matty, “and if you look back at sales that were made earlier on in this artist’s career, you’ll see this wasn’t a one-time thing. ETH,short for ‘Ethereum’, is the dominant currency used to buy NFTs. One ETH is currently worth around $1,400 USD at time of writing, so we’re talking pretty big income for a teenager!”
“NFTs were born in the cryptocurrency industry, which is one of the reasons we’re seeing some BIG sales. Some investors entered the market when Ethereum was brand new and have since seen their investments grow 1000x - so they have capital to spend on NFTs, and see the value in celebrating the uniqueness of this art form! No doubt, the popularity of NFTs will continue to grow and likely at the start of a completely new paradigm unlocked by blockchain technology.”
The future of NFTs is looking bright!
We asked Matty to predict where this technology might evolve over the next year.
“For the last few years NFTs have been in an experimental phase. We are maturing to a level that should see some polished, brand heavy, well funded projects come out and appeal to not just crypto but non-crypto investors and users.
I truly believe 2021 onwards will be the breakout year for NFTs across art, games, collectibles, finance and more.”
ORIGINS by Giant Swan x Monstercat - a digital art legend collaborates with our brand!
Monstercat is absolutely thrilled to partner with renowned digital artist Giant Swan, an intuitive communicator who uses modern technology to craft a new experiential language. A pioneer in VR expression, he creates undiscovered environments that miraculously evoke the emotions of familiar landscapes and settings. As one of the first artists to be featured on Nifty Gateway, he has since dropped three wonderfully colourful and beautiful collections; each unique on their own, but all undeniably showcasing Giant Swan’s distinct voice in this burgeoning field.
ORIGINS by Giant Swan x Monstercat is a creative interpretation of our Lost Civilization biomes, as seen through the eyes of Swan. The collection contains four incredibly diverse and dynamic Open Editions: Cradle of Life, Sands of Time, Heart of the Mountain, and The End is the Beginning. Collectors can take their time marvelling at these masterpieces after purchase, but every art lover is encouraged to act quickly. Although you can collect as many as you’d like, each piece will only be available for two minutes!
Also collaborating on this collection is platinum record producer Varien, whose brilliant score transports you to each biome. Longtime fans of Monstercat know of Varien’s rich history with the label, having released many iconic tracks on Monstercat. The inclusion of her atmospheric music gives an added intangible dimension to every piece.
Interested in becoming a digital art collector?
Are you new to digital art? Join our journey and start your collection, fueled by creativity and community, by getting your hands on our Constellations Pack. This series takes collectors through an exhilarating tour of Monstercat’s Lost Civilization origins story; constellations that dot the night sky, only visible from the island. Designed and created by Monstercat’s in-house designers, Erica Shaub and Lydia Pourmand, with audio produced by platinum record producer Varien, these lovingly crafted pieces symbolize precious musical memories in time. With only 500 packs at $0.50 each, they won’t be available for long.
Constellations Pack drops at 3:30pm PT / 6:30pm ET on Wednesday, January 27th. Head to Nifty Gateway and create your account today! Be sure to validate your profile with a phone number, and link a payment method, as only verified accounts will be able to redeem a pack.
ORIGINS by Giant Swan x Monstercat will be available for only 2 minutes, from 4pm PT / 7:00pm ET on Wednesday, January 27th.
Constellations Pack from Monstercat will be available while supplies last, from 3:30pm PT / 6:30pm ET on Wednesday, January 27th.
Register an account on Nifty Gateway now so you don’t miss these drops!
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