United States, 19th February 2021, ZEXPRWIRE – You have probably seen The Most Famous Artist‘s headline-generating artworks and not even known it. The group includes over 200 interdisciplinary artists worldwide known for making waves with large-scale, head-turning, selfie-driven art installations that have penetrated mainstream media worldwide.
The group’s founder, Matty Mo, a former tech entrepreneur turn artist-trickster, recently announced the group’s entrance into the cryptocurrency scene by uploading their entire archive of subversive paintings as 1/1 NFTs.
What are NFTs, and How do they Work?
Non-Fungible Tokens enable individuals to own unique digital assets. NFTs are a form of cryptographic tokens, but you cannot interchange one for the other, unlike cryptocurrencies. Each NFT represents a unique digital asset that can be bought and sold in an open marketplace.
The majority of NFTs are being created on the Ethereum blockchain enabling compatibility with various wallets and exchange services.
NTFs empower artists and their digital audiences to buy and trade assets without permission from auction houses, galleries, and traditional institutional gatekeepers.
This technology will increase profits for artists who no longer need auction houses and galleries to create liquidity and secondary markets for their works.
NTFs are also programmable. For example, artists can write contracts to pay royalties to the artist on each subsequent sale. Additionally, NFTs serve as a record of ownership that allows creators to engage more deeply with their collectors.
There are already whispers of what holding one of The Most Famous Artist’s 638 NFT’s may provide collectors access to in the future.
TMFA has teased on Instagram that NFT holders will be able to join TMFA sponsored parties at Art Basel, participate in the community’s upcoming stunts, gain access to exclusive art drops, and more.
TMFA NTFs Now on Sale
@themostfamousartist listed their first comprehensive collection of NTFs for sale on Opensea – one of the largest peer-to-peer marketplaces for collectibles and digital art. Their most recent sale was 1.5 ETH, with others listed for as much as 5 ETH (close to $10,000).
The Opensea marketplace is decentralized, meaning no central authority oversees the transactions or holds custody of your items.
Matty Mo and his team are pioneering new ground in the NFT world. In addition to their limited and highly sought-after drop on Opensea, the group is the first to release conceptual artworks as NFTs.
For example, they minted NFTs of their most viral TikTok videos and NFTs of interactive art performances on Clubhouse, like the NFT for a ‘Moan Room’ wherein Clubhouse members join to moan together for some time. Participants say it is an excellent break from all the millionaire AMAs and get rich quick rooms you find in the hallway of Clubhouse.
Brief History of The Most Famous Artist
The Most Famous Artist is a technology-savvy community of makers, doers, and thinkers known for creating art projects that penetrate the mainstream media.
When you google search ‘the most famous artist,’ among the legendary individuals including Van Gough and Picasso, you will find one stand out – Matty Mo. The group’s website lists over 100 headlines generate from projects ranging from monoliths to pink houses and more. With a huge following on Instagram, Tiktok, and Clubhouse, TMFA continues to dominate the cultural conversation.
When asked about TMFA’s focus, Matty Mo said, “Right now, we are interested in breaking new ground in the digital art world with one-of-a-kind NFTs that express the all of the possibilities of this new technology.”
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.