Museum of Modern Art and Refik Anadol Launch NFT Burn Mechanics
Refik Anadol, New York-based Museum of Modern Art, and digital art platform Feral Fire announce the launch of a new initiative dubbed “NFT Burn Mechanics.”
Holders of 9 artworks from the “Unsupervised – Data Universe” collection will have a chance to burn them in exchange for redeemable NFT passes.
Renowned media artist Refik Anadol announced his partnership with the New York-based Museum of Modern Art and digital art platform Feral Fire.
Together, they are launching NFT Burn Mechanics. The initiative allows art collectors to “burn” their non-fungible tokens in exchange for other physical and digital artworks and perks.
As part of the initiative, Anadol and MoMA will transform tokens from the “Unsupervised – Data Universe” collection into rewards. “Unsupervised” is Refik Anadol’s installation that was on view at MoMA from November 2022 through March of this year. It featured three artificial intelligence-generated artworks that interpret and transform pieces from MoMA’s art collection. It’s worth noting that the latter includes artworks collected over 200 years.
Generally speaking, the project aims to attract more collectors and incentivize secondary sales. In addition, the initiative is expected to bring the community’s and collectors’ attention to the possibilities of artificial intelligence, which are currently being discovered in many fields.
“Anadol trained a sophisticated machine-learning model to interpret the publicly available data of MoMA’s collection,”states the collection’s description on MoMA’s website.
So, individuals that “burn” nine artworks from the “Unsupervised – Data Universe” collection will receive a unique redeemable NFT pass that gives access to a variety of future activities and exclusive items. For instance, collectors might receive museum-quality 2D prints of the artworks, a hundred unique AI data paintings, and a day pass to the Museum of Modern Art.
The first NFT “burning” event will take place on May 19 to 21 on Feral File.
“Unsupervised – Data Universe” is not the first collection that includes pieces created by artificial intelligence. In 2019, an anonymous AI artist called “DeepBlack” minted a set of 3,073 AI-generated fine art pieces on the Ethereum blockchain.
These days, the art community is exploring the potential of AI. Some believe that artificial intelligence is a great tool to help find references for their work and fasten the process. Others claim that one should be open to being surprised when generating an AI piece. In any case, one thing is sure – this innovative technology is not going anywhere.
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