What even are they and why should we truly care?
Explore the beautifully artificial world of the Metaverse and NFTs, see how they have increased in popularity in recent times and where they will go next. There is more than what meets the eye, though they are merely a graphic with a solid coloured background, the artistry, time and skill input into each of these designs root from years of experience and infatuation with art and hype culture.
"Because it's new and because of the uncertainty and the potential role it could play in our future"
Is it just more tech giants dreaming of swimming in pools of money? Who are buying these designs for these insane amounts? What even is an NFT? Well, let me tell you that a 'Non-Fungible Token' is something that you cannot physically possess, an object only tangible through the medium of virtual reality. A topic that is becoming a lot more popular within the online and social market at this current time. Imagine a digital version of clothing, a one-off graphic or the latest Nike trainers designed to look like anything you could ever want, to which you pay for with cryptocurrency in order to wear while spending time in the "Metaverse".
Would it surprise you to hear that there are people who choose to spend tens of thousands of pounds on something which doesn't physically exist? However, there are plenty of people out there who are all for it, bidding and auctioning off digital graphics from brands such as BAAPE and knock-off Hermès Birkin Bags for upwards of £40,000 each. Many a brand are hopping on the band wagon to jump the queue, to get ahead of the game in a manic race to stay relevant. Though some celebrities are against this idea, with Kanye West asking "Do not ask me to do a f***ing NFT.", adding "ask me later" at the bottom of the scribbled page - but wouldn't we expect that? Justin Bieber is being berated online for spending $1.29million worth of Ethereum coin on a "Bored Ape" graphic, with the move being labelled as "just a flex". Is it just a publicity stunt? Very probably.
Due to their increased demand and popularity, NFTs are becoming the fastest growing digital art market in the world. The hype has everything to do with it, their online presence stems from the competition that comes from wanting to own one of these distinguished designs are all to play for. There isn't even a specific reason as to why we should be interested in them, unless you are glued to the stock market, or can already afford someone to be for you. There is a significant difference between NFTs and the Metaverse. An NFT is essentially the object/item/graphic you are able to virtually acquire, and the Metaverse is the sandbox where you are able to put your NFTs to use. Exciting right?
Edgar, a Graphics Design student from Central Saint Martins school of art and design makes his own NFTs, "to gain recognition and potentially make money", but is this not the aim of every NFT designer out there right now? It seems pretty obvious, it is a money making game. So, why are people so obsessed with NFTs? "We are told that NFT's are the future but really as of right now, NFTs don't mean anything. However, people assume that it will gain in value in the near future so people see it as an investment". It is also at the fault of celebrities with their "influence" over the youth, urging them to learn and invest in crypto currencies. When posed with the question, "What is the point in owning an NFT?" Edgar went on to explain that "there can be benefits that come with it. For instance, when buying one, you could spend a day with the artist himself based on the conditions written".
Whereas, in terms of the "Metaverse", Mr. Adenot said that it is "the evolution of internet and google. Instead of purchasing items from Amazon online, you go into the metaverse with your VR headset, choose your items and get them delivered to your house". All in all as if you were to experience the first-hand world, just virtually. As depicted in the infamous novel "Ready Player One", written by Ernest Cline which was later brought to life by Steven Spielberg. On the topic of bringing to life, we are now able to actually allowed to immerse ourselves into this unknown territory with "haptic gloves". "This would allow you to feel clothes, cups etc... However, I'm sure that there will be new technology which will allow people to feel something more real". Technology is improving in favour of this new universe and many people are here for it. It is remarkable just how much faith the population has in new tech such as this.
It is a risk, an investment, a secure encryption and something that will keep you up at night; but also something that the world is going crazy for. Though it is not a platform to turn your nose up at. Designers such as Mason Rothschild and Yuga Labs (Gargamel, Gordon Goner and No Sass), at the end of the day they are digital artists and the "FAD" of NFTs is showcasing their talent as designers. An escape from the normalities of art and design, allowing anyone to reach out and grab a piece of the world of NFTs. As mentioned, there is a significant difference between an NFT and the Metaverse. Think of it this way, ones a piece of art, a collectors item; the other, a dystopian world, a universe where anything it ultimately possible - play how you want, dress how you want, buy what you want all without the danger of the realities we face in the real world.
As most of you know, sustainability is very important to us here at Ästhetik Magazine, we strive to bring you the best and most niche companies out there for you to discover. Especially at this time as the world is struggling to keep itself going and smaller companies such as some of these need a lot of help in not only sustaining the earth, but also themselves.
The pandemic has affected many around the world and in order to help, we wanted to express our thoughts on some amazing companies which have made our shortlist. Of course, there are many designers which we would have wanted to represent in this post as well, so be sure to look around and find somewhere which suits you best.
So stay safe, and don't forget to wear a mask. Protect yourself and those around you... in-style of course! Make sure you check us out over on Instagram @asthetikmagazine and follow us on our journey as we bring you everything ästhetik! <3
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