Episodes Explore NFT Boom with Focus on Benefits to Artists; Latest Episode Premieres Today with NYU Professor/Cryptology Expert, David Yermack
Today, Chaos’ CG Garage podcast announces the launch of a series focused on NFTs (nonfungible tokens). With NFTs sweeping through the art world, turning digital artists into sudden millionaires, the opportunities can seem limitless. But NFTs also come with a bunch of questions, especially for artists unfamiliar with cryptocurrency. The series seeks to explain what they are, why they matter and how to get started, so artists can make more informed decisions about their careers.
“CG Garage has always been about shedding a light on what matters to CG artists, whether that’s how they came up, interesting projects or just making sense of emerging opportunities,” said Christopher Nichols, CG Garage host and director of Chaos Labs. “The DeFi world is fascinating, but it also needs a guided introduction for most people. In these episodes, we’re talking to artists and experts in the know, who can easily illuminate the many facets of NFTs, from basic ideas like ‘what is Ethereum?’ to their carbon footprint. If you’re curious, this is where to start.”
For the uninitiated, NFTs are digital tokens that can be used to track the ownership of a digital asset. Because they live on a blockchain (or decentralized ledger), these digital tokens can be easily validated as totally unique, giving the owner access to an evolving investment or bragging rights. While online superstars like Grimes and Beeple have already sold NFTs for millions, they also offer a new way for CG artists to sell and profit off their art, moving them from social media likes to recurring royalties without any help from the traditional gallery system.
Two episodes are available now, including today’s discussion with the head of NYU’s finance department, David Yermack. Several more will be released in the coming weeks. The current series will include:
- Sally Slade, Magnopus’ lead AR/VR developer, explains what she had to do to get her digital drawing onto the NFT market, using a $100 budget as a constraint.
- David Yermack, NYU Stern cryptocurrency professor, breaks down the key concepts behind NFTs in the most accessible way possible, getting into issues of ownership, the value of digital copies and the role digital artists can play in the NFT market.
- Alex Coulombe & Samuel Arsenault-Brassard will join the podcast on May 10 to talk about how they created an art exhibit using virtual architecture and NFTs.
- David Levy, Avatar 2 concept artist, will stop by on May 24 to explain how the changing profit model and new financial opportunities are impacting the artist community.
The series is designed to be listened to in order to build up the listener’s knowledge base, moving from initial ideas to a more versed, actionable understanding as things progress.