Queen Elizabeth Taylor I by Jen Stelco and Panji Krishna
JANUARY 25TH, 2022
Not wanting to sound too morbid at the beginning of a new year but the words that I have chosen for the title of this piece, in literary terms, usually signify death and how the fall of the final curtain makes no distinction between rich or poor, status or insignificance. Death, indeed, is the greatest leveller of all. However, these words continually come to my mind when pondering the world of NFTs and how they are impacting the traditional art market. NFTs were born from the bedrock of cryptocurrency and decentralised finance.
Decentralisation, by its very definition, is a term that denotes democracy – an escape from the crushing control of central banks, financial regulations and all that keeps capitalism at the mercy of free souls. And, in the same form of escapism, in the art world, with NFTs artists found a way to circumvent existing and normal methods to reach buyers. Before NFTs, art was mostly bought and sold inside exclusive art fairs, or inside established art galleries – which many people are intimidated to enter even if they are enraptured by the art inside. Artists outside of the represented gallery field had limited means to reach wide audiences. Posting on Instagram has its merits but joining the NFT community of like-minded people is far more enriching on many levels. Those that make, buy, trade, collect and support NFTs are true art lovers and now it is time for that community to rise.
So, back to the point of the piece. My intention as a curator has always been to shine a light upon those talents that deserve it. No matter their place in the established structures of the art world. In fact, one of my greatest dreams is to curate a show of art that includes work by the elite – think Anish Kapoor (one of my biggest art crushes) along with mid-career and established artists (Timo Nasseri or Sara Rahbar for example, two of my fave contemporary artists) and then some untapped and unknown artists alongside. In NFTs this is no longer a dream, it is entirely possible because we are all entering a new playing field.
My idea of NFT or crypto art is that it is a great leveller. If you have already built your status in the existing art world, that may not carry any weight in the crypto world. You may well (and probably will) find yourself alongside artists that you did not expect to see riding next to you. But that is something to celebrate. Don’t you ever feel that you want to be inspired by others? And that inspiration can come from unexpected places. I don’t think that an artist should rest on his or her laurels. Don’t get above your station, understand that the best creativity comes from humility and an understanding of the human condition, which is not always gained from being at the top and looking down. The people in the NFT world are fair. They believe in democracy in the truest sense of the word and they want everyone who is worthy to succeed.
So, sometimes, the introduction of a level playing field can be interesting. In fact, it can be revolutionary. I have said before that NFTs are a revolution in the art world; one of the recent shows I curated was done so under that theme (Into The Revolution, Foundry, Downtown Dubai, Sept 20-Nov 20, 2020). And in a revolution, all is fair in love and war. To conclude, then, I’m fascinated to see which way the dust settles and what the effect the leveler might have on art and its conceptual, inspirational and monetary value.
Part of our mission at UNDRGRND is to work with curators and people who know art and can help guide a new generation of art collectors. One of the ways we do that is by partnering with collectives like MORROW who know traditional art and exist to bring galleries, artists, museums, collectors and investors into the NFT space.
