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Dear Reader,

Firstly, thank you for making time to read this blog post and thank you for your readership in general, I started this blog site in August 2009. In this post, I am continuing my series exploring Web 3.0 and the topic today is the value of art NFTs. I will first dip into the topic of the value of art, art for it’s own sake, as a symbol ngular sensational creative expression.

So, let’s dive in. In my experience, the value of art in general and a work of art in specific, is not a one-size-fits-all definition. My understanding about the value of art in general and in specific is at the baseline, beauty is in the eye of the beholder. I believe that we assign value to an artwork based on the meaning that a specific piece of art resonates or symbolizes to you. Art can invoke possibility, power, love, hope, beauty and any virtue or value you attach to it. In essence, what is the value of art as an inquiry is rhetorical and a question as old as time.

According to Michael Findlay in his book, The Value of Art, art can be looked at through the metaphor of the Three Graces from Greek mythology: Thalia, the commercial value of art; Euphrosyne, the social value of art; and Aglaea the essential (or instrinsic) value of art. In his book, he explores the question and brings over 50 years of experience as an art collector, an auction-house specialist and art dealer. As an artist who is navigating the three components above in my own journey towards self-realization and success as an artist. I received this book as a gift and am enjoying it so far. I implore you to pick it up if these ideas are inspiring curiosity.

Now, let’s take a look at artwork presented as an NFT, a unique digital creation that can be collected, appreciated (and can appreciate) and even re-sold for a profit.

To review what an NFT is: NFTs are stored on the blockchain, they have clearly defined owners, and they point to metadata files, which link to the creations themselves. These 3 components will therefore allow you to buy and sell NFTs. Essentially, you have the ability to purchase ownership and transfer it to other owners without the influence of centralized platforms or third parties. As a result, this form of true ownership is what enables NFTs to accrue value.

Also to be considered, is the underlying value of NFTs is enriched by a number of important variables, from ownership, authenticity/identity, rarity/scarcity, aesthetics, community, technology, and utility. Each value is important in its own right and serves to increase the desire and value of a certain NFT.

An an artist and NFT creator, what I see as the value in my currently listed NFTs, are the qualities of digital ownership, identity, scarcity, aesthetics, technology, and utility. What makes an authentic artwork scarce, other than being an authentic physical original, is it’s presence as a digital version, an NFT- and available as a limited editions or as a one off. All of my current artwork NFTs are offered as limited editions, up to five maximums total per NFT.

Perhaps one of the most important contributors to the growth of value for NFTs is utility. Utility is exciting to imagine and play with as an NFT owner (of course the NFT smart contract terms clarifies about HOW the NFT can be used, for example commercial or non-commercial use). Let’s look at how an owner of one of my art NFTs would be like.

This is a watermarked small version of the mixed media painting, Orion Nebula II. One can purchase this as an NFT, available as one of five available in a limited edition, offered on the curated platform MakersPlace. That means that only five people out of 7.9 billion people can own a high resolution digital art (jpeg) of this painting.

This NFT is a signed (by me) and limited edition digital creation including the full non-commercial rights to this creation. The owner may download the unique digital creation and can display it on any digital device or even print out, for personal use. All the while, knowing that one has the authentic piece, verifiable on the blockchain.

As a wrap up, I invite you to explore more of my NFTs being offered online, take a look, explore

Lórien Eck Art & Design on:

MakersPlace- a curated NFT platform.

Prism NFTs- a new platform for artists by artists

OpenSea- the largest NFT platform

In the next blog post on the big topic of Web 3.0, I will be exploring the environmental impact of crypto, NFTs and various Co2 offset options/possibilities.

Feel free to comment below and connect with me via social media or better yet, share and subscribe to this blog and my art newsletter to stay in touch and to know about my art announcements, NFT drops and in real life events.

http://www.lorieneck.com

In love, gratitude and beauty…

Lórien Signature fuschia_small

Sources:

Findlay, Michael, The Value of Art – Money, Power, Beauty, Prestel Verlag, 2012

NFTs and their value – https://www.nft-insight.com/p/nfts-and-their-value?s=r

Research the history of art and blockchain in general, check out this journal article Art and Blockchain: A Primer, History, and Taxonomy of Blockchain Use Cases in the Arts

Disclaimer:

The views expressed here do not represent those of any past, present, or future employer of mine, or represent the views of the other people and companies I may discuss. They may not even represent my own views, I am exploring these ideas in the spirit of curiosity and sharing this with you here because I can and choose to. None of this is financial advice, legal advice, or art career advice.

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Hello dear reader!

I am so glad that you are making some time to read this! Did the title of this blog post inspire you to be a little curious? If so, I warmly welcome you to read on as curiosity is a fabulous thing for us peeps to follow. I like to think of the path of curiosity like a path of bread crumbs in the universal shape of a spiral.

I will start with this: What is Web 3.0? Web 3.0 will bring us a fairer internet by enabling the individual to be a sovereign. True sovereignty implies owning and being able to control who profits from one’s time and information. Web 3.0’s decentralized blockchain protocol will enable individuals to connect to an internet where they can own and be properly compensated for their time and data, eclipsing an exploitative and unjust web, where giant, centralized repositories are the only ones that own and profit from it.

Source: https://elastos.info/what-is-web-3-0/

So, the big question, what are NFTs? First to answer this, we must explore the world of cryptocurrency. Essentially, a cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name. There are currently over a thousand different cryptocurrencies in the world.

Okay, so now that we have touched on Web 3.0 and crypto, what are the three interesting facts about NFTs?

Fact #1: NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like art, collectibles, even real estate. They can only have one official owner at a time and they’re secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.

Fact #2: NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, an original physical painting, or your computer. These things are not interchangeable for other items because they have unique properties.

Fungible items, on the other hand, can be exchanged because their value defines them rather than their unique properties. For example, ETH or dollars are fungible because 1 ETH / $1 USD is exchangeable for another 1 ETH / $1 USD.

Fact #3: NFTs ensure authenticity and provenance of a unique digital creation. NFTs solve a public, trackable, verifiable, history of ownership. Provenance helps create a sense of history and authenticity to the artwork and as an artist this is extremely important.

Why, is this so important to the NFT creator? This is important to creators/artists who choose to earn a living (or at least earn an partial income) through their work. Sharing art images on the internet exposes the art and IP (even small files and social media sharing) for anyone to use without giving credit and/or compensation to the artist/creator. Art is in reality, intellectual property (IP) and holds tremendous value. And this fact is very valuable and important to me as an artist who creates original mixed media paintings, unique physical and digital creations.

I am thrilled about new ways for us artists sharing our artwork with the public, the NFT spaces and Web 3.0 are a natural segue for my art on my path as a contemporary artist. And, what’s so exciting is that I have launched my original mixed paintings as rare NFTs on three different NFT platforms.

Take a look and explore!

Lórien Eck Art & Design on:

MakersPlace- a curated NFT platform.

Prism NFTs- a new platform for artists by artists

OpenSea- the largest NFT platform

In the next blog posts, I will be exploring the questions around why would an art appreciator want to invest in NFT art? And, what about the environmental impact of NFTs and Co2 offset?

Feel free to comment below and connect with me via social media or better yet, share and subscribe to this blog and my art newsletter to stay in touch and be the first to know about my art announcements, NFT drops and in real life events.

http://www.lorieneck.com

In love, gratitude and beauty…

Lórien Signature fuschia_small

Sources:

https://www.forbes.com/sites/forbestechcouncil/2020/01/06/what-is-web-3-0/?sh=6888855258df

What Is Web 3.0? The Fundamental Guide To The New Era Of Digital Data Ownership

https://en.wikipedia.org/wiki/Cryptocurrency

https://ethereum.org/en/nft/

Research the history of art and blockchain in general, check out this journal article Art and Blockchain: A Primer, History, and Taxonomy of Blockchain Use Cases in the Arts

Disclaimer:

The views expressed here do not represent those of any past, present, or future employer of mine, or represent the views of the other people and companies I may discuss. They may not even represent my own views, I am exploring these ideas in the spirit of curiosity and sharing this with you here because I can and choose to. None of this is financial advice, legal advice, or art career advice.

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Find us online:  Lorien Eck Art & Design

My Original Art Collection Now on VIDA!

VIDA – Art-Inspired • Zero Waste • Global Impact

Dear Friends,

Happy Lunar New Year, Gong Hei Fat Choy!

I am so excited about my new Vida Collection — a creative collaboration in design with makers around the world to

create inspiring apparel and accessories! Truly a dream come true for me and I am having

so much fun with this process!

This is work that that I’m proud to say brings something truly positive to the world;

taking care of the planet, and empowering the makers and their children through education!

Thank you for reading and supporting women in business, like me!

Blessings of health, prosperity and much love to you,

My New Collection on VIDA
 

Click here to learn more about the Luggage tag, accent pillows, iPhone case and cashmere scarf above- all featured in my New VIDA collection online now!
I invite you to browse and explore this new collection, at introductory prices,

a super-fun variety of goods featuring my mixed-media paintings!

By purchasing a unique Vida piece, you empower the makers of your product to build a better future for themselves and for generations to come.

Press from Fashion Times —
The VIDA shopper is someone who is well-traveled,
she’s inquisitive, she’s thoughtful, [and] every product
she brings into her life, she’s mindful of how it was made.

MY ORIGINAL COLLECTION on ETSY
Handmade •  Wearable Art • +Repurposed Decor
Love yourself. Then forget it.  Then, love the world.

— Mary Oliver

 Copyright © 2019 Lorien Eck Art & Design, All rights reserved.

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flyer:windowLang Fine Art Laguna Beach, ©LE Art & Design (photo)

One thing I know for sure is that I am cosmic, made of the stuff of stars.  I began creating paintings  in my Santa Monica art studio in the fall of 2010 that depicted images of the cosmos.  I didn’t question why I was painting these images or even have a cognitive motive to paint the skies, the heavens, the starry galaxies.  I was simply following my creative impulse and following my bliss.  I began to engage more and more with the imagery from the various NASA space telescopes and paint abstract, textured and sparkly paintings on paper mostly, and enjoyed the process so very much.

stuff starsIn the summer of 2011, I began to receive lots of encouragement to show and share my artwork in our world.  At the time I was teaching art full-time in the public school system and was beginning to moonlight as a professional artist.  I gradually began to show my work at more and more art galleries in the Southern California region, as well as continue to paint and fall in love with our cosmos.  In late 2012, I began to engage more deeply with the available knowledge about how super connected we are to our cosmos, how it is in our very DNA, as well as engage with a variety of teachers, leaders and authors of books about the star nations and multi-verses that exist.

Cosmic XIICosmic XII ©LE Art & Design

This content and focus of my work is more exciting as ever with new documentaries coming out all of the time and mainstream television shows being produced, like Cosmos: A Spacetime Odyssey, the sequel series to Cosmos: A Personal Voyage presented by Carl Sagan in 1980.  I just discovered this new 2 hour video called Earth from Space produced by NOVA, that reveals a spectacular new space-based vision of our planet!  There are many programs found online and via youtube, like this one that I really enjoy from NOVA in 2004, the Origins series.  I believe that we are just scratching the surface about what “we know”, however, I love how art imitates life in so many mediums!

Orca NebulaOrca Nebula ©LE Art & Design

I feel lucky to be able to this very day, show my work throughout Southern and Northern California since 2011 and have enjoyed such a wonderful time the past 6 weeks sharing many of my original cosmos and earthscape inspired paintings in Laguna Beach at Lang Fine Art.  This show is open for 1 more glorious week, up through March 30, 2014.

Lang Fine Art
1450 South Coast Highway,
Laguna Beach, CA 92651
(in the Art Center, across from the Surf and Sand Hotel)

Borealis II 30x22 Mixed Media on PaperBorealis II ©LE Art & Design

I also have an ongoing showing of several of my larger original cosmos-inspired paintings at:

Irvine, CA
Temple of Light
Spiritual Community

11 Goddard
Irvine, CA 92618
(949) 333-1641

Thank you for reading and I invite you to share your contributions via comments and connections and would love to hear from you via this blog, my face book page, or email lorien@lorieneck.com.

In love, gratitude and beauty…

Lórien Signature fuschia_small

www.LorienEck.com

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