The Convergence of the Fine Art and NFT Art Communities
When thinking about what makes good art, Chu believes that the intention and ability of an artist to communicate and execute an idea – whether it’s through pixels or paint – remain the most important factors.
“It doesn’t matter whether it’s fine art or NFT art,” says Chu, who is also a former art dealer and currently an advisor to digital artists such as Mike Winkelmann “Beeple”. “But I find the main difference between the two art scenes lies in the communities around them. It seems the fine art community isn’t ready for the new medium, and some even struggle to recognise NFT artworks as ‘art’.”
However, Chu believes that this is also why it’s so exciting to introduce the new medium to the art world. “It could bring new energy, new interpretations and new ways of expression,” he says, “because NFTs exist not only in an aesthetic or conceptual framework, but also in a technological and economic framework. It’s an entirely new way of thinking about art and community. The fine art and NFT art communities are still separate, but they are colliding, and will eventually converge.”
Hong Kong as Asia’s Centre for Digital Culture
The record-breaking sales of NFT artworks testify to the boom of the global NFT art scene, and Hong Kong’s art community is ready to take the lead and push it even further. “Considering the smaller size of Hong Kong’s art industry, I think it’s safe to say that we are in step with, if not ahead of, the rest of the world when it comes to the adoption of NFTs in the art space,” says Chu. “One of the trends that I expect to see more growth in is digital fashion – NFT wearables such as digital sneakers and dresses that you can buy for your avatar in metaverses, or virtual worlds. Brands are already creating NFT fashion, and I believe this kind of digital designs will be very popular here, where internal space is such a premium.”
“Hong Kong has a very vibrant consumer culture and the people – artists and the general public – are very comfortable with digital tools,” Chu adds. “So, my prediction is that it will ultimately become one of the centres for NFTs and digital culture in Asia, alongside Korea and China.”
Explore the 50th Anniversary Art NFT Collection specially commissioned by Swire Properties in our commemorative theme “Original Always”. Click here to find out more.