- PROOF Signal
- PROOF Signal: Week of September 18
PROOF Signal: Week of September 18
Welcome back to PROOF Signal, your exclusive gateway to the world of all things PROOF. Let's dive into the latest updates.
Moonbirds Entering the Lunaprise Museum: On November 15, 254 ‘Space Helmet’ Moonbirds will be sent to space! In collaboration with Space Blue, these Moonbirds will be added to the Lunaprise Museum AND we have 50 spots available to join us at Kennedy Space Center.
Diamond Exhibition Closing Event: A quick update on the closing weeks of Diamond Exhibition and how to get involved! Some mint passes are still up for grabs.
Inside Look: Fractionalization of Traditional Art: Check out the emerging market for fractionalized traditional art and the future intersection between blockchain and the fractionalized art world.
Exciting News for Spacebird Owners
For the first time in half a century, a return to the Moon is underway, and this time, Spacebirds are going along for the journey! PROOF is thrilled to announce an extraordinary opportunity for the proud owners of the 254 Moonbirds graced with the rare "Space Helmet" trait. The Spacebirds will be the only generative PFP NFT collection included in the Lunaprise Museum – a space mission to preserve the heart and soul of humanity's history, culture and artwork in digital archives that will land on the moon.
In collaboration with Space Blue, 254 Astro @moonbirds with the "Space Helmet" trait will be featured in the Lunaprise Museum.
The launch to the moon is set for November 15th.
— Moonbirds (🦉, 🎨) (@moonbirds)
Sep 19, 2023
If you're one of these lucky Spacebird holders, you'll receive an exclusive invitation to join us at the Kennedy Space Center in November for the grand launch and black-tie gala event! Please note- there are only 50 spots available, more information to come soon.
But that's not all; we're also hosting a special raffle to those who make it out to the event for a few commemorative official mission jackets, embroidered with custom patches, to mark this historic occasion.
Not a Spacebird Owner? Don't Miss Out!
You are not a Spacebird owner but itching to be part of this incredible journey? Stay tuned! As we monitor the sign-up list, we'll be keeping an eye on any available spots. If openings remain, we'll extend an invitation to other Moonbird holders as well. Keep an eye on our Discord channel for all the latest updates and details!
Last week, we launched the “What’s your Diamond Exhibition Story?” contest, and we've been overwhelmed by your thoughtful submissions! Artists will review them and select pieces to feature in the final week of the Diamond Exhibition at Foundry.
Is there a Diamond Exhibition piece that stands out to you?
💎 Share why you love the piece and tag @moonbirds in your post
💎 We'll select our faves to feature at Foundry LA
💎 Your tweet could win a MB or one of 10 DE Mint Passes!
— Moonbirds (🦉, 🎨) (@moonbirds)
Sep 14, 2023
This week, we have another exciting opportunity for you to win a Diamond Exhibition Mint Pass. Using the new Generative Art Explorer, dive into the countless outputs from all the Art Blocks Engine-created generative art collections in Diamond Exhibition, share your favorites for your chance to win a mint pass. Top picks will also be featured in the closing event at Foundry!
Speaking of the closing event, we're thrilled to announce our collaboration with the MNTGE team for the Diamond Exhibition Celebration Event on September 29th. Join us for a fun night that includes a MNTGE customization lab with custom PROOF patches, a special night-time edition of 100 PROOF with Justin Mezzell, Terrell Jones, and Nick Adler from MNTGE, and a celebration of the closing of Diamond Exhibition. Don't miss out! RSVP here.
Outliers Showcase on October 1: PROOF has teamed up with Transient Labs to showcase the works of our first Outliers class of artists. The Outliers program supports digital creators pushing technical boundaries and innovating through their artwork. Join us to witness groundbreaking projects in web3. Read more about Outliers below:
Together with @TransientLabs, we are thrilled to announce Outliers, a new program for digital creators who are pushing technical barriers and innovating through their artwork. /🧵
— PROOF (🥃,🦉) (@proof_xyz)
Mar 24, 2023
London Frieze on October 11: We're partnering with Pace Gallery for a Frieze party celebrating 'CP1919,' an exciting project from Peter Saville and Steven Morris and the Joy Division Archives. Tickets go live on Sep. 25 at 8 AM PT. For more information on the partnership, check out the official website here or read the tweet below:
London is calling!
Celebrate the CP1919 collection with us and @PaceGallery for our exclusive @friezeofficial party on October 11!
Get ready: @tokenproof tickets for Collective, Moonbirds, Mythics, Grails, and Archive of Feelings holders will go live on Sep 25 at 8AM PT ✨
— PROOF (🥃,🦉) (@proof_xyz)
Sep 20, 2023
Botto Access Pass
The cover for our PROOF x Botto Access Pass has been revealed! The chosen Botto fragment, titled "The Marching Mirage," now graces our community's pass, representing our collective voice.
This pass is your key to participation in Botto's weekly curation, shaping the future of AI and digital fine art. Mint is still open; get yours here.
"The Marching Mirage"
The Lunar Society-approved project to teach Honduran artists about NFTs has resulted in a beautiful exhibition and the minting of their works! You can still mint these incredible pieces until this Friday for $25 on the ETH L2 chain Optimism. More info below:
Mint is live! if you registered in the Premint as a @moonbirds or @proof_xyz holder you are now able to mint the Honduran exhibition pieces on , This is on the @optimismFND network using @ourZORA. (This is the only tweet )
— crisgarner .eth | .lens 🦇🔊 (@crisgarner)
Sep 14, 2023
Congratulations to the Dead Birds Society on their first voting period for Command + A! Stay tuned for the reveal of the participating artists.
Inside Look: ‘The Art of Fractionalization: Bridging Traditional and Digital Worlds’
This week’s research piece comes from PROOF’s @WarDaddy, highlighting the emerging market for fractionalized traditional art and the future intersection between blockchain and the fractionalized art world.
The art world, traditionally a domain of the elite, is undergoing a transformation. Fractional art ownership is reshaping the landscape by providing the opportunity for individuals to diversify into a growing art market.
Why the uptick in interest from retail investors?
In 2022, the global art market had its second consecutive year of growth, following the lows of 2020, and has surpassed pre-pandemic 2019 levels.
Annual returns from exposure to Contemporary Art have outpaced annual returns from the S&P 500 over the last 26 years, according to the 2021 Citi Global Art Market report.
In this article, we explore the evolution of fractionalized traditional art and its current and potential crossovers with the web3 world.
The Fractionalization of Traditional Art
Historically, art investment was a privilege reserved for the wealthy, but that changed in 2017 when Masterworks pioneered the idea of selling "shares" of blue-chip artworks. Fractional ownership isn't new, but its application to fine art is a recent development, as it was traditionally associated with high-value tangible assets like real estate. Now, there is still a significant barrier to entry for many with the minimum investment of the platform sitting at $15,000, but the opportunity exists for those who want to gain exposure.
How has this fared for retail investors?
Notably, Masterworks has sold sixteen paintings with an average annual rate of return of 45% to investors, demonstrating the potential of fractional art ownership. In 2022, the platform paid out holders $25 million.
Recent Developments and Trends
Since the pandemic, there has been a rising interest in fractional art ownership, especially among younger and retail collectors. The pandemic accelerated changes in art investment infrastructure and consumer behavior with a more digitally native landscape, pushing fractional ownership of fine art into an emerging asset class. ArtTactic reported that, by July 2022, Masterworks had acquired 134 artworks worth $486 million, with top acquisitions including Ed Ruscha's Ripe painting ($20 million), Jean-Michel Basquiat's All Colored Cast II ($20 million), and Pablo Picasso's Homme à la pipe ($15 million).
Basquiat’s ‘All Colored Cast II’
As we have seen in the web3 art market, secondary volume can pose issues with high value, low supply collections, and the fractionalized traditional art market is no different, with 70% of Masterwork’s pieces falling below their initial offer price in 2022, with little volume.
A Blockchain-Powered Future For Fractionalized Art?
Amidst these developments, startups like Freeport are entering the space, offering fractional ownership of blue-chip art using NFT technology. Freeport blends aspects of Masterworks and Particle, with SEC approval and blockchain capabilities. Its innovative approach aims to make art investment accessible while ensuring regulatory compliance.
The future is clear, traditional art and blockchain will coexist, but this begs the question: If fractionalized traditional art is finding success, why haven’t fractionalized NFTs found their footing?
Fractionalization is democratizing the art world, allowing more people to invest in the beauty and cultural significance of artworks. As this trend continues to evolve, it will be fascinating to see how the traditional and digital art worlds further intersect and redefine the concept of art ownership.
More to come on this topic in a future Inside Look- WarDaddy
This Week in PROOF Media
Here is a quick rundown of some of the top highlights from PROOF’s weekly content!
PROOF Daily NFT Countdown
This week, our Director of Research, Sam, highlighted friend.tech flipping Ethereum NFTs in total volume and their airdrop incentive structure on the PROOF Daily NFT Countdown. Catch the insightful discussion here.