TL;DR
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We think physical work is about to be replaced by digital as the dominant art medium, due to a shift in the means of production and distribution.
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AI will help shift the dominant medium from ‘physical’ to ‘digital,’ while hyper contracting the time and monetary cost of production.
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While Web3 (specifically NFTs) will make global distribution available to all artists (more than it already has).
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The end result? Lower costs and cheaper reach for all artists. We love a level playing field!
Full Story
Chug a Pepto Bismol, snort a line of Tums – do whatever you need to do…cause what we’re about to say might be a little spicy for some palates.
We think physical work is about to be replaced by digital, as the dominant art medium.
Physical art ain’t dead yet, but we think we know what’s going to kill it:
A shift in the means of production and distribution.
Ok, but what does that mean?
Let’s start here:
From about 2009 – 2017, we worked in the music industry.
In that time, we saw how Web2 technology reinvented the systems of production and distribution, and changed the face of the music business over the course of the last decade.
The shift in production:
Digital Audio Workstations (like Ableton and Logic Pro) brought a massive increase in efficiency and gave the means of production to anyone that wanted it (for about $100).
The shift in distribution:
While Facebook, Instagram, TikTok, YouTube, SoundCloud, and paid streaming platforms took the (previously) cornered resource of ‘distribution power’ away from the labels/traditional news media brands and put it in the hands of artists.
We think we’re about to see a similar ‘systems overhaul’ in the art world.
AI will help shift the dominant medium from ‘physical’ to ‘digital,’ while hyper contracting the time and monetary cost of production.
Meaning, creative endeavors that previously took hundreds/thousands/millions of dollars and days/months/years to realize, will soon cost a fraction of a cent and take seconds to complete.
While Web3 (specifically NFTs) will make global distribution available to all artists (more than it already has).
E.g. Instead of needing to be signed to a reputable gallery, you can reach a global audience by simply uploading your art to OpenSea.
Physical art and the galleries that support it will still have a place in the world, sure!
But our guess is both will go the way of the million dollar recording studio and vinyl records, becoming niche methods of production and distribution.
The end result?
Lower costs and cheaper reach for all artists. We love a level playing field!
P.S. If you want to check out the article that sent us down this rabbit hole, it was this one, by Max Widmer at Blockworks.