On August 02, 2021, an article about the first NFT CCCV 2021 exhibition appeared on Aergo’s official Medium page.
We present the content of this article below:
Today, when the line between online and offline is blurred, what would it look like if we were to take a portrait?
Due to COVID-19 we have increased the proportion of the online world in our lives. Previously, the online world had a strong perception as a virtual world for entertainment such as games, but now the online world has become a reality that can offset the constraints of space and time in real public and private encounters. Participating in meetings through video conference, planning a ‘LAN drinking party’ with acquaintances, setting up a drinking table at their own home, and having a meeting are a daily scene where telecommuting and staying at home are encouraged. The trend of various metaverse worlds that are appearing one after another, provide a variety of options for self-expression. 2D and 3D avatars created according to each person’s taste become another ‘me’. Now, the portrait of ‘I’ living in ‘today’ is filled with the real me within the real landscape and the other half with the 3D avatar and unrealistic virtual world as the background.
It is not only the protagonist in the portrait that is divided into reality and virtuality. The contemporary online world completes a virtual landscape by absorbing various areas occupied by reality. Now, furniture, interior accessories, works of art, houses, buildings, and even land (real estate) fill the virtual world market, and active transactions are taking place. The emergence of ‘NFT’ in the field raises the value of virtual assets, which are digital files, to the value of real assets. NFT is an abbreviation of Non-Fungible Token, which refers to a ‘non-fungible asset’ registered in the blockchain. In the process of storing digital creations on the blockchain, a unique number such as a serial number is created, which gives rarity and uniqueness to digital creations. Digital files, which previously could be easily owned without quantitative restrictions through copy-paste, now exist as ‘the only original’ protected by a unique number, and the exchange of this technology will increase awareness of the existence of digital files and transaction methods.
In this exhibition, the NFT technology provided by CCCV was integrated into the exhibition and its various applications were exhibited. [Pick the NFT for CCCV] is designed to introduce new NFT works to the audience and check their reactions through voting. Visitors to the exhibition hall can vote for their favorite 3 out of the 20 NFT video works on display, and if the written work matches the top three final votes, they can win a prize. The total prize money for voting is 2 million won, and both the artist and the audience are given a chance to win. First, the first 1 million won will be shared among the three artists selected for the top-voted works, and the remaining 1 million won will be shared equally among the viewers who got all the top three final-vote matches . Next, in [Make your own NFT], you can experience the purchase and warranty of NFT works at once by requesting a portrait request. First, the visitor selects the artist who wants to create a portrait, and then purchases a portrait from the artist’s NFT page. Next, after discussing the background color and style of the work with the staff, fill a request form and submit it to the artist. The work will be delivered to the customer’s email and CCCV NFT box by the deadline specified in the request form.
NFT itself can be an inconvertible asset or work, but at the same time, it functions as a means of transaction for digital works and as a guarantee. In this exhibition, we would like to observe the possibilities of the integration of newly emerged NFT technology and art, and discuss the future changes based on this exhibition.
Written by Seo-Hee Bae