Digital art: NFTs up for auction
25 January 2022 The first dedicated auction of NFTs on thesaleroom.com is here.
An image from Cath Simard’s EpoStory 'Art Is Energy' which has a starting price of £6600.
Forum Auctions is hosting a sale of digital artworks generated by artificial intelligence. The auction, called 1/Xrt - 'NFT Art by Eponym', is held in collaboration with artificial intelligence (AI) technology specialist Artbrain ends on January 31.
The artworks are created by digital artists using Art AI's Eponym service. Art AI, a gallery of AI generated art, launched in 2019 in Cambridge and set up its Eponym service last year which enables artists to create artworks using a text-to-image generator.
Forum said 40% of its clients who responded to its recent survey wanted to know more about digital art and NFTs (non-fungible tokens, units of data stored on a digital ledger, called a blockchain, which can be sold and traded).
Stephan Ludwig, CEO of Forum Auctions, added: "Listening to and observing the artists behind the artworks confirms to me these works absolutely have artistic substance. While the concept of buying artistic stories purely digitally is a new concept, buying new wave artists is centuries old."
You can learn more by watching this video:
The artworks in the Forum auction are made using algorithms. The artist creates an 'EpoStory' – the name for a group of images and titles telling a continuous visual story by the artist residing on one NFT.
There are 20 of these EpoStories on offer at the auction. Browse the catalogue to see them all.
No online commission is paid on items purchased in this auction.
