The headline-grabbing 8-figure auction for Beeple’s digital art collage has put the limelight on a novel niche – the NFT art marketplace. In the simplest terms, NFTs or Non-Fungible Tokens are certificates of origin and authenticity, created for a domain where owning the original artwork is everything. With every aspect of our life becoming digital, it was only a matter of time before one of the most unique aspects of the human condition – our desire to create, own and share art – went the digital route as well. With NFTs, we have stepped closer to absolute digitisation.
As art undergoes a paradigm shift, the means and frameworks necessary to display that art are evolving as well. Currently, physical displays of NFT art are a costly affair, whether for personal use or as part of exhibitions. These displays require highly specialised hardware to achieve the desired effects; luckily, with immersive VR technology gaining ground, 3D digital galleries for hosting NFTs are quickly becoming a reality.
Are physical galleries equipped for NFT art displays?
In a bid for relevance, many traditional galleries have started to make room for NFT digital art in their physical expo spaces. While this accommodation of “new art” alongside old formats is a testament to the changing times, the viewing experience of NFT art displays leave much to be desired.
The key reason why physical displays fail to bring out the best of NFTs is the lack of an immersive experience. Unlike classical pieces of art like sculptures and paintings, digital art is dynamic. Where classical pieces rely on scale, material and technique to establish a connection with its audience, digital art relies on its medium. Digital art rarely only consists of a jpeg file and nothing else – combining animation, 3D output, sound and even active user interaction, digital art tends towards an integrated multimedia experience. In a way, digital art can come ‘alive’ in a way traditional art may not.
What’s next? Virtual NFT Galleries
Growing adjacent to the popularity of NFT art is the trend towards click-and mortar business models. With the viability of deploying immersive VR experiences increasing every day, these new-age stores can provide their customers a chance to experience products in a new and exciting light. Similarly, 3D Virtual Reality-enabled digital art galleries can provide an immersive experience that is unmatched in its ability to captivate an audience.
The key difference between virtual NFT galleries and traditional galleries remains that of medium, with virtual galleries being hosted entirely within a 3D digital space. While this shift does not affect the viewing experience for static art pieces, it greatly enhances how we take in dynamic pieces of digital art. This shift also overcomes the crucial issue of logistics – with virtual galleries like Google’s own Arts & Culture initiative being accessible to anyone, from anywhere.
In the spirit of sharing art with as wide and varied an audience as possible, NextMeet hosts its own immersive art gallery within its diversified ecosystem. Equipped with spatial audio and customization options, the NextMeet gallery enables – a free-roam experience using 3D avatars – to recreate the experience of ambling inside a physical gallery.
An art collector’s case for VR art exhibitions
Just as an artist and their audience are inseparable in the act of appreciating art, so are a gallery and an art collector. A collector’s mainstay is speculative buying and selling of art, followed by the admission fee earned from viewers and visitors. While NFTs make the buying and selling of digital art a scalable venture, displaying digital art still has a long way to go. [3]
In a hyper-connected world, immersive VR software like NextMeet can enable artists and art collectors to host their own NFT-based 3D digital galleries. Users can view the digital art as intended by the artist – they can even be led on guided virtual tours by the artists themselves! Spatial audio will further give users the ability to discuss art with fellow viewers, form connections, listen to critics & artists, and even enjoy ambient music – reviving the gala culture within a virtual format. Speculative markets are based on a demand for novelty. As the relationship between NFT, Immersive VR and digital art evolves, the ways in which we curate, display and enjoy art will change as well. No matter where the industry heads next, one thing is for certain – immersive experiences will remain at the heart of this cultural revolution.
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