Pau Waelder on NFT hype, crypto art market, and digital collecting
In an interview with Artribune, critic Pau Waelder reflects on the surge of NFT and crypto art, pinpointing significant auction events: Christie's auction of Obvious's "Portrait of Edmond de Belamy," which fetched over $430,000 in October 2018; Mario Klingemann's "Memories of Passersby I," sold for $51,000 in March 2019; Robert Alice's "Block 21," which went for over $130,000 in October 2020; and Beeple's "Everydays: The First 5000 Days," which garnered over $69 million on March 11, 2021. Waelder expresses concern about the emphasis on financial gain over artistic value, warns of potential backlash if the market remains unstable, and discusses his book "You Can Be a Wealthy / Cash Strapped Collector in the Digital Age," addressing security and environmental issues while anticipating a move towards regulated platforms.
Key facts
- Pau Waelder is a Spanish critic, curator, and researcher specializing in new media art market.
- Christie's sold Obvious's 'Portrait of Edmond de Belamy' for over $430,000 in October 2018.
- Mario Klingemann's 'Memories of Passersby I' sold for $51,000 in March 2019.
- Robert Alice's 'Block 21' sold for over $130,000 at Christie's in October 2020.
- Beeple's 'Everydays: The First 5000 Days' sold for over $69 million at Christie's on March 11, 2021.
- Rafael Rozendaal's NFT sold for $102,000 while his websites are worth about $10,000.
- Feral File, an online exhibition space by Casey Reas, launched its first show with NFTs on Bitmark blockchain; all works sold out in two days.
- Memo Atken calculated minting one NFT produces over 200 kg of CO2, equivalent to a person's monthly energy consumption.
Entities
Artists
- Pau Waelder
- Obvious
- Mario Klingemann
- Robert Alice
- Beeple
- Ben Davis
- Rafael Rozendaal
- Casey Reas
- Tino Sehgal
- Joseph Beuys
- Robbie Barrat
- Carlo Zanni
- Memo Atken
- Valentina Tanni
Institutions
- Christie's
- Artnet
- Foundation
- Gagosian
- Rene Block Gallery
- Feral File
- Bitmark
- Printer Fault Press
- Artribune
- Politecnico di Milano
- Naba – Nuova Accademia di Belle Arti
Locations
- New York
- Paris
- London
- Frankfurt
- Spain