Murakami to return from NFTs, Dan Harmon’s NFT show debut and more
Murakami to return from NFTs
Prominent Japanese contemporary artist Takashi Murakami has said that the future of non-fungible tokens (NFTs) may not be issued after entering the market in late 2021.
Murakami in 2010 He is a world-renowned artist with a career dating back to the late 1980s. It has released two NFT collections to date: the Clone X collection with RTFKT in December 2021 and the Murakami.Flowers collection in May 2022.
Speaking to The Guardian on September 20 as part of his new solo art exhibition titled Unknown People, Murakami said: “Maybe I'm done releasing NFTs.”
Murakami.Flowers, in particular, proved to be a challenging project for the artist. It was delayed to fine-tune the launch before its release in May 2022 when the crypto and NFT markets crashed.
Following the auction's floor price and sales slowdown, Murakami finally apologized to those who bought his NFTs. However, the public seemed to understand at the time that broader market conditions were at play.
Despite this, Murakami.Flowers has generated 26,713 Ether (ETH) or $42.52 million in secondary trading to date, and the NFT floor price is 0.36 ETH ($573) from OpenSea.
NFT artist wins multi-million dollar contract dispute
NFT artist Danny Casale, also known as Coolman Coffeedan, has won a multi-million dollar profit-sharing contract dispute with Web3 artists DigiArt.
According to a report from Artnet on September 22, Casale has signed on to replace DGART in May 2021. Offer all non-perishable tokens created by Casale for sale until the contract expires on May 2, 2022.
But DigiArt sued for breach of contract in March 2023 after the artist self-launched an NFT project called Coolman's Universe on December 21, 2021.
The project consists of 10,000 cartoon-like NFTs and has generated 26,399 ETH ($42 million) in secondary sales to date, according to data from OpenSea.
DigiArt claims Casale “in complete disregard of its contractual obligations” by launching the project, but fails to list any monetary damages in the complaint. The company also admitted that it did not try to enforce the agreement months after the project began.
Additionally, DigiArt did not provide a written effective date on the contract with Casale, along with several other important details.
That ultimately led Judge Wendy Berger of the United States District Court for the Middle District of Florida to rule against Casale and dismiss the lawsuit.
“In the body of the email, which contains several blank spaces including the draft's effective date, the artist's name, and net sales revenue; [DigiArt’s] The agent stated that the dividend would be '50/50′ ‘with NFT drops first,'” the court document read.
The long-awaited debut of Krapopolis
Crapopolis, the NFT-related animated series from Rick and Morty co-creator Dan Harmon, is set to finally air in September after being announced for June 2021.
The show is set to debut on Fox on September 24th with its first two episodes and then air on Fox Animation's dominant series block with The Simpsons, Family Guy and Bob Burger beginning October 1st.
Only 2 days left to take you on an epic adventure in #crapopolis starting September 24th! Here is the magic! pic.twitter.com/sb6E8oLGxV
— Krapopolis (@Krapopolis) September 22, 2023
Krapopolis is a comedy set in ancient Greece about “a flawless family of humans, gods, and monsters trying to rule one of the world's first cities without killing each other.”
The show's NFTs are called “Crap Chickens” and feature cartoon chicken avatars in the same art style as the show. There are a total of 10,420 NFTs, and holders are granted benefits such as voting rights for certain aspects of the show and exclusive prizes, content and experiences.
NFTs help rural artists gain exposure
While mainstream media has recently drawn attention to NFTs as “ultimately worthless,” a digital artist from rural Victoria, Australia highlighted a key use case for the technology: expanding the exposure of regional/remote creators.
Speaking to the ABC on September 22, Warracknabeal-based artist Ben Fowler emphasized that virtualizing his artworks has allowed him to reach an international audience and grow his work from home without having to travel to cities hours away, such as Melbourne.
“I listed a piece of Astral Travel that sold in three days and it was worth 0.34 Ether, which was worth about $930 at the time,” he said, “Then I added another one and it sold out, and another one… people were buzzing and buying it, and I started getting new people, and It just started.
“[It] Places like Melbourne will definitely encourage people from regional areas to create jobs for themselves […] Artists don't make a lot of money unless they're really high-end, but it allows low-end artists and creatives to take some of that money out and get their value, and that's a beautiful thing.
RELATED: NFTs Are ‘Absolutely Worthless' Says Mainstream Media, Community Responds
Other good news:
Casey Rodermore, creator and lead coder of Bitcoin Ordinals, recently proposed changing the protocol's numbering system to simplify the project's codebase.
Play Proof, led by Farmville co-creator Amit Mahajan, raised $33 million to develop Web3 Games, according to a Sept. 21 announcement. Majahan is the CEO of Proof of Play and Twitch co-founder Emmett Shear is a board member.
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