Digital art market in Dubai … Creative horizons and global platforms

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The art scene opens in Dubai, giving a new aesthetic touch to the corridors of the city that took the path of “creativity” to become its capital globally. The boundaries of the art scene in Dubai are no longer limited to traditional works of art, but have also expanded to include digital art, which seems to be living, locally and globally, as a “true revolution” with technology innovation ( NFT) and the expansion of blockchain, so this art has turned into Pioneers, artists and special platforms that deal with it, taking advantage of the expansion of the creative space that Dubai offers to them. In light of Dubai’s embrace of several platforms promoting and dealing with digital art, Al-Bayan preferred to anticipate the shape of this market as its papers began to open locally and globally.

innovative technologies

The expansion of the digital art market has encouraged a number of artists to move towards it, including Dubai-based artist Christel Bishara, who was one of the first to unveil their digital works and sell them using NFT technology or “non-replaceable tokens.” She assures Al-Bayan that she is constantly on the lookout for innovative technologies to be among the first to do so. a group of my works that have been sold to (3fMusic) and (UAE.NFT) based in the UAE, as well as art collectors in the UK and the United States. And she continued, “In fact, the expanding relationship with the digital art market in Dubai is proof that it has become an ideal starting point for many innovative and groundbreaking and innovative talents. Technologies and an indicator of the degree of interest in the digital art market. “

She explained that “digital art is not inferior to its traditional, artisan counterpart.” She said: “Every market has its own valuation and one can not dominate the other. In my experience, whether with traditional or digital art, creating any work of art requires the same strength and creativity.” Kristel explained that the NFT is very powerful. She said: “A technology that contributes to raising the status of digital art and raising awareness of (Blockchain) rules, digital currencies and smart contracts that may influence future financial decisions.” Authenticity and source for radically produced works of digital art and paintings.

Project support

Meanwhile, Anastasia Glebovia, CEO and founder of the V-Art platform specializing in digital art, said: “It can be said that the UAE and the Middle East are one of the regions that have benefited from the range of opportunities presented by the digital transformation of the art market ”, noting that the presence of support for projects Original art in the new digital media has been one of the factors that has influenced the Dubai art scene.

And she continued, “Over the past decade, the local art market has witnessed rapid growth, relying on international art collectors who have contributed to pushing it towards the adoption of digital solutions, and so (digital art) can it is seen as a force that allows for equal opportunities and the spread of the arts. ” She noted that the core value of the art market lies in the process of facilitating human creativity.

She said, “It is good to see Dubai and the UAE adopt the steps of this market and the process of digitalization of art, as this offers an opportunity to reduce barriers to achieving productivity benefits,” noting that the transformation digital art market does not differ much from any other transformation, as it is a process It enables the expansion of its fans and the circle of art collectors, as well as the creation of new avenues of creative expression.

One-click promotion and purchase

In the past, the traditional art market was easily managed and controlled by a close circle of experts, collectors and merchants who controlled access to works of art, but with the expansion of the internet and social media, the digital art market seemed more intertwined and open. . for all, and we have a large number of sites working on displaying and purchasing art products, if we consider that previous art is limited to what can be seen and touched in some private places like museums, galleries and spaces The exhibition opened, and it can be said that Instagram offered an alternative market, Artists can now reach a wide range of audiences around the world, with just one click.

This expansion required the emergence of artistic platforms related to digital art and its promotion, and in this context, the first significant artistic platforms appeared in 2017, which are (CryptoKitties) and (CryptoPunks), and they could offer a base for sale. artistic products, for example in January In the past, work no. 2890 was sold for a record amount of 605 Ethereum (ETH 605), equivalent to $ 761,188.57 and artwork no. 7804 was sold for 4200 ETH (ETH 4200), equivalent to $ 7,820,520, which is equivalent to $ 7,820,520. He points out that NFT technology has become ideal not only for games, but also for rare art collections, and reveals to us that the rush to deal with this technology has become tremendous and therefore experts expect that this year will prove a boom in NFT-dealing platforms, calling for the importance of large-scale art coding. In this context, Megan Doyle, a post-war contemporary art specialist, sums up the issue that “NFT” gives digital artists the agency to sell their work with a guarantee of originality and rarity, and says that by doing so they “create a new way forward “.

2017

NFT technology is a type of digital document that confirms a person’s ownership of a work of art, be it a painting, song or video. 2017, with the launch of CryptoKitties, which allowed the purchase and acquisition of limited copies of “digital cats” using cryptocurrencies, and the technology was able to expand its reach to include digital artwork, and non-digital tokens. interchangeably can be resold, traded and transferred to another person, and according to statistics, the volume of investment in them amounted to more than $ 174 million, from November 2017 to mid-2021.

2018

The “HOFA” Gallery, which has branches in the Greek cities of London, Los Angeles and Mykonos, became the headline of the news in 2018, after announcing the possibility of buying and purchasing its artistic possessions, using cryptocurrencies. On the digital assets of the world, based on NFT technology and in mid-May Gallery, in collaboration with (MakersPlace), the largest digital art market in the world, organized the exhibition “Material and Form”, where he collected works by 4 artists: Jean Calab and Lorebel. Spirovsky, Gregory Seif and Darina Medeiros, with the aim of bridging the gap between traditional and digital art.

Iyad Al-Moussawi: a new touch

The artist, Iyad Al-Moussawi, had a different view, as he saw that the digital art market is still weak. He said: “I think the potential of this market is still weak. “Through my frequent visits to exhibitions and various arts weeks, I did not see a large presence of digital works”, emphasizing that the digital art market will not have an impact on the size of its traditional counterpart. He said: “Most galleries still present traditional works, without any impact of digital works, but this does not mean that we can witness changes in the future”, while denying the possibility that the digital art market of becomes an alternative to it. the traditional counterpart, saying, “Art is in it.” Creativity and originality and digital art can be a new style within the system of artistic work, as it is one of the various tools of art and can add a new touch to art. stage, but will not erase the previous artistic heritage. ”

Olga Simpson: a real breakthrough

The “big” figures achieved by digital paintings were enough to open the eyes to “the digital art market, which is experiencing a real boom,” according to Olga Simpson, founder and director of the Institute for Law, Technology and Innovation. co-founder of the V-Art platform, attributing the reason to the expanded circle. Dealing with digital currencies, saying that the art world is experiencing a real revolution because of digital art, which has provided tools and new techniques that most artists have. began to use it to create new interactive artwork. better known as “Pebble,” which Christie’s sold for $ 69.3 million. its employees are “digital artists”, most of whom come from the information technology community and have benefited from “Blockchain”, noting that the digital art market, and before relying on “Blockchain” technology and ( NFT), it faced a number of challenges, particularly the ease of copying digital content.

Virtual tours and online auctions

The spread of the Covid 19 pandemic contributed to the promotion of virtual trends, as many galleries opened their doors to the public, wandering among their paintings “virtually” and enabling them to buy what they wanted from paintings and works of art. electronically, and Recently launched the VV platform, Art held its first virtual art exhibition entitled Art in Space, which included dozens of space-inspired works of art.

And to assess the size of the digital art market globally, a single visit to the OpenSea platform, which is the world’s largest digital marketplace for cryptocurrency holdings and immutable tokens (NFT), is enough, as the data show. that the platform established in 2017 has more than 477,000 pieces and that the volume of transactions it proves is about 354 million dollars, while the number of users of the platform reaches 113 thousand users. In this context, the Lebanese artist, Christel Bishara, discovers through this platform the launch of a series of paintings with limited editions, which can be obtained using NFT, where the buyer can receive any of the paintings of this group directly by mail.

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