Despite the problems in the NFT market, digital art continues to expand its footprint in the modern art space, with Art Basel announcing the launch of its new curated digital art platform, Zero 10.
Zero 10 will “unite leading and next-generation participants – artists, studios, galleries and digital innovators – with Art Basel’s global framework of curatorial excellence and market access” and will debut at Art Basel in Miami before expanding abroad in 2026.”
Care has been taken to avoid using the term “NFT” at the release, but the exhibition’s debut collection will feature art from NFT-native platforms such as Art Blocks, Fellowship, Beeple Studios, and Pace.
Eli Scheinman, who previously worked on the digital art teams at Proof and Yuga Labs, will serve as curator and advisor for Art Basel.
“Excited to announce the launch of ‘Zero 10,’ a new global, multi-year initiative for digital age art at Art Basel… This will be central to the fair experience in Miami Beach and its 100,000 visitors and 10,000 local collectors,” Scheinman said.
In addition to the announcement, Scheinman teased new works from the “who’s who” of digital art, including Larva Labs, XCOPY, Beeple, Tyler Hobbs and Dimitri Cherniak.
While digital art collectors are excited to see the ecosystem take the next step forward, new and existing NFT collections continue to struggle.
On October 10, Larva Labs, the artists behind Cryptopunks, released their first unique set in years as Art Blocks’ latest curated collection, called Quine. Quine had huge volumes at the auction, and the sale closed at 7.56 ETH, or $31,000 at the time.
However, Quine has struggled to hold the coin price and is currently trading at 3.75 ETH, or $12,450. Although the collection is down about 50% in ETH terms, the market downturn has further driven down the fiat value.
Meanwhile, Chromie Squiggles, Art Blocks’ mascot collection, is changing hands for 2.7 ETH, approaching its lowest price since 2021.
Squiggle Floor Price – NFTPriceFloor