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As the world is transitioning to be completely digital, the hype around NFTs is primarily derived from the promise that in the virtual world, a whole metaverse is going to become a reality. If most of the things you do right now are eventually going to have a digital interface then the ownership of digital assets also becomes vitally important.
NFTs are also a particularly interesting choice for artists with regards to how it democratizes the industry and the way it’s reforming the way artists make and own their work.
Over the past year particularly, there has been a surge in NFT marketplaces also. The latest is White Noise, an NFT based art endeavour founded by Hari Pilaka, Parth Taco, and Sajid Wajid Shaikh. In their own words, they are ‘...curating iconic neo-contemporary art by some of the freshest South-Asian talent for the metaverse, on Ethereum, and Polygon’.
To understand White Noise’s model and what they’ve been up to in recent times, we had a conversation with the co-founder– Parth Taco.
How It Works:
‘As the world moves onto the next stage of recreational realities & media consumption, we aim to leverage social equity into real monetary value by facilitating all the spokes of value creation for the metaverse, including metaverse owned assets like art, music, film and other mediums, creating a market for it with DAO incentivised programs and a community mined liquidity program within the DAO structure, one where the user is incentivised by the time and skill invested and not the money, a place where super fans can also monetise their fanaticism by being stakeholders in the creators’ growth,’ says Parth.
‘We envision evolving White Noise into the premier curation house for culture; building a community of like-minded entities for the appreciation of art, a forum for discussion and discovery, and the YGG (Yield Guild Games) of the creator economy.’
NFT Releases
‘Our first NFT release was a surrealist art piece created by Sajid Wajid Shaikh using automatism, which was bid upon and sold for 0.501 Ethereum (USD-INR conversions variable to market rates).
While the music medium of art hasn’t matured as much on NFT marketplaces in India yet, relative to the artwork space, we genuinely believe there is a vast potential for discovery, growth and culturally behavioural adaptation of the format in the immediately upcoming future, following the global metaverse trends.
Rae Mulla’s debut album ‘lol’, is going to be one of the very first releases of music as NFTs in India. We currently have the track ‘Maggi’ up on Catalog, with the remaining 4 tracks from the album releasing through December and January.’
2021 has truly been the year of NFTs, with more and more artists looking at NFTs as a way to slowly enter the emerging digital marketplace. They are changing the creative landscape by revolutionising the creator economy and everyone seems to want a little bite of that.
You can follow White Noise here.
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