Amid a turbulent NFT market, the energy-efficient blockchain Tezos is launching a permanent collection that aims to elevate creatives looking to push the boundaries in the crypto art space.
The Rise of the Tezos Blockchain in Art
Tezos is quickly becoming one of the most popular blockchains in the art world, especially among creators who have embraced NFTs but are concerned about the high coin costs and environmental impact of chains such as Ethereum. The Tezos Foundation, the Swiss non-profit branch of energy-efficient blockchain, is cementing its status as a player in the art world by launching the Tezos Foundation Permanent Art Collection, which aims to celebrate artists who are resisting the boundaries of the NFT space.
It is in this context that Tezos made its debut at this year’s Asian edition of Art Basel, with a freestanding showroom for its exhibition entitled “NFTs + The Ever-Evolving World of Art”.
The interactive exhibition space featured several pioneering generative artists collaborating with Tezos’ premier art platform, fxhash. In addition, it invited visitors to create a unique NFT generative artwork for free on a first-come, first-served basis. It is impressive to see that this idea of free coin is very well received by the public. The NFT artworks of these emerging artists quickly hit the spot before the art fair ended. These works include those by Yazid Azahari, Ryan Bell and Aleksandra Jovanić.
† The Tezos Foundation’s permanent collection supports and celebrates a new generation of artists who have chosen a path based on smart contracts to be their true selves.“, says Harriman, the famous photographer and activist. † As the first curator of this collection, I want to make sure that the world sees the different voices that are doing truly amazing work with crypto art. We will be the guardians of this new community† †
However, according to crypto investor and art collector Jehan Chu, more needs to be done on the digital front. † We’re still stuck in 2020 as digital art, web3 and NFTs don’t seem to get a lot of attention outside of Bank Gallery’s NFT and Tezos NFT booth.†
Launched in November 2021, fxhash is a generative art platform that allows anyone to upload their code to the site and redeem the results as Tezos NFTs. While some coding knowledge is required to create artwork on fxhash, the platform’s community is dedicated to helping new users get to grips with this emerging and often complex art form.
Fxhash provides support for experienced programmers and those just starting out, it has become a hub for generative artists and collectors of all backgrounds and skill levels. Members of the fxhash team provide guides and resources to help new artists, while experienced programmers can connect with other artists to share ideas and information through the project’s Discord server.
Despite the success of Tezos and its fxhash technology, the NFT market is suffering: it saw a sharp 92% drop in transactions compared to the same period last year and recently lost $1 trillion in value, prompting comparisons to the dot-com collapse of the late 1990s. Cryptocurrency exchange Coinbase unveiled its highly anticipated first NFT marketplace on May 4, reporting 110 transactions and $60,000 in sales.
Art and NFTs remain in constant evolution, but it is important that blockchains like Tezos continue to expand to reduce the environmental impact of NFTs and find solutions to democratize NFTs in all sectors of our economy.
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Passionate about geopolitics, economics, cryptocurrency, Eurasia and travel! (as far east as possible), crypto trader for 4 years.