Creator of Bored Ape Yacht Club to Release New NFTs at Art Basel December 5, 2021 December 5, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 5, 2021 by Kelly Cromley

Creator of Bored Ape Yacht Club to Release New NFTs at Art Basel

Seneca, the principal artist behind one of the most acclaimed NFT projects, will present five NFTs at Art Basel Miami on Saturday. Four will almost certainly be sold in the ICONOCLAST art exhibition’s auction. The fifth, a sculpture inspired by the BAYC, will be auctioned next year, the artist told The Defiant.

The NFTs will be issued on Ethereum but will be housed on the Internet Computer, a blockchain created and maintained by the DFINITY Foundation. In principle, since the NFTs will be entirely on-chain, they cannot be removed, as they can with centralised servers such as Amazon Web Services (AWS).

Seneca has long been frustrated with the conventional art market, a world that has always seen digital work as inferior to its physical equivalent. “The ability to verify a digital object is a game changer. That fundamentally alters the game,” she said, noting that NFTs will give digital art a voice in the conventional art market.

Seneca’s first journey into the realm of NFT was with Bored Ape Yacht Club, and the artist is enthusiastic by the growing field’s prospects.

“Of course, witnessing the project grow into this, you know, insane empire is incredible, but I’m also looking ahead. What’s next?” I’m thinking. Seneca hinted to a possible NFT cut in 2022 but declined to offer specifics. “What I created for Art Basel is only the beginning,” the artist said.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.