The Inherent Art of NFTs
Artists and creatives are embracing the potential that NFT’s provide: provenance, long term financial benefits and the decentralization of selling and trading assets. For Mexican artist, Vicente Ortiz Cortez, this digital technology brings an opportunity to explore art in multiple dimensions.
By Sandra Lopez
Conceptual artist, Sol Lewitt, was known for producing authenticity certificates for his wall drawings, which included vague instructions that installers would refer to when creating an original piece for display. These certificates came with an identifiable number for each drawing, along with a statement of authenticity affirmed by Lewitt’s signature. It was then up to the art installers to create the piece with the limited information provided.
“The certificates are the rights to the work and the work itself. I thought (non-fungible tokens) NFTs could work in the same way,” explains Vicente Ortiz Cortez. Cortez, who has recently introduced a new series of NFT installations, is one of many artists embracing this cultural shift.
An NFT is a digital asset that is encoded and authenticated on a cryptocurrency blockchain. When an NFT is minted on the blockchain, a smart contract is produced, which includes the terms of agreement between the two parties.
In 2021 alone, Christies sold digital artist Beeple’s NFT for $69 million, and just a month later, Sothesby’s auction house sold an art collection of NFTs by artist Pak for $17 million. A 2021 report by nonfungible.com, which used data from 30 million transaction records from around the world, also reports that crypto art accounted for $2.8 billion in trading, representing 16% of the art market to date.
For contemporary and multidisciplinary artist Cortez, of Moroleón, México, entering the world of NFT art was a natural progression and one that was prompted by more than just financial opportunity.
In reference to LeWitt’s conceptual drawings, Cortez has reimagined his concept through the production of the NFT series “USA Presale,” which consists of 50 (physical) installations and their NFT counterparts. One installation per U.S. state, each of which depicts a contemporary societal issue that Americans are facing.
Elements such as a wire hanger that represents abortion rights in the state of Texas and skittles that form an outline of a hoodie, making a reference to the shooting death of Trayvon Martin in Florida.
Throughout all 50, each U.S. state is made of soil, a common motif in Cortez work. In person, the installations are static on the gallery’s floor. Their digital counterparts, which are 3-D and animated, are available for purchase on the NFT marketplace Opensea.
The skittles are no longer an outline. They move to form a hoodie that faces the state of Florida which now appears in the shape of a gun. Together, they float and produce a shadow as they gyrate the flag.
“I think that NFTs open doors to people who in the past were not art lovers or collectors,” says Cortez, who believes that the versatility of the NFTs will attract both traditional art collectors who are familiar with art installations and also general audiences who prefer to hang art on a wall.
That’s because the owner of the NFT will have a smart contract which outlines the materials that are needed to reproduce the installation for a physical gallery display. The owner will also have the digital asset, which can be displayed on a wall (or anywhere) as a video or a physical print.
The series was recently taken to the streets, where a painted QR code faced the flag with the states. The QR code leads viewers to Cortez’ OpenSea page, for an opportunity to purchase an NFT piece. “In a way, it’s similar to how corporations are selling the country,” Cortez said.
Thanks to his artist residency at Silver Arts Projects, Cortez has embraced the resources provided to grow the series and explore NFT and digital art in general. A fellow studio mate, Xin Liu, who is well versed in digital art and NFTs through her own work, has been pleased to provide support and feedback to Cortez. “It’s important to leave the door open for people who want to try new things,” Liu said.
Cortez also sees NFTs as an economic opportunity for Latinos in the art world.
“Over time, one will not be able to work in the same way and receive a livable income, and without royalties, it will be even harder to live comfortably,” says Cortez before adding “this new technology will not only benefit (the artist), but once the credentials are passed to one’s family, they too can benefit.”
While Cortez hasn’t sold an NFT from this series, he continues minting NFTs and expanding on earlier works. Most recently, he minted digital pieces of Ukrainian Hearts, which beat to a real human heart beat as part of an NFT sale that is raising money for Ukraine.
The “USA Presale” series will be exhibited in a two-person exhibit in Omaha, Nebraska, this summer.
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