Greg Oakford, co-founder of NFT Fest Australia, is your guide to the world of NFTs from a collector and fan’s perspective.
Seventeen years ago, Pindar Van Arman built a robot that, like him, painted with a brush on canvas.
He has built several robots since, with each iteration possessing a more sophisticated artificial intelligence that tried to paint “more like I painted.”
The term OG can be thrown around often undeservedly, but Van Arman is truly that when it comes to AI art.
He created his first crypto art project in 2015 — titled bitPaintr — and minted his first Ethereum nonfungible token (NFT) in 2018 titled “AI Imagined Portrait Painted by a Robot” on SuperRare.
“It was really hard in 2015 because I had the challenge of trying to explain the tech in an emotional way. It triggered a visceral reaction where people would say, ‘Well, wait, these are robots that can’t be emotional,’” says Van Arman.
“I’d got hate mail back then when people would say it’s hard enough for artists to make a living. Now, we have to compete with robots. There were a lot of barriers back then.”
Pindar’s robot painting (Cloud Painter)
Validity of AI art
For the cynics that question the validity of AI art, Van Arman agrees with them to a degree but makes a distinction between AI being labeled as an artist versus being creative.
byteGANs collection by Pindar Van Arman. (SuperRare)
“The thing I agree with them on is that AI can’t make art. But AI is a tool that can be used to make art by an artist. When you put it in those terms, no one can really disagree with you. They may not like it, but it’s hard for them to disagree,” Van Arman says.
“Here’s where it gets controversial though, here’s the middle ground that I claim which I know is true because I see it and I program it; AI cannot be an artist. AI can be creative. Creative in a very similar way that humans are creative.”
Van Arman is no stranger to having people’s eyes glaze over when explaining his work.
“All the questioning and doubt over the years told me I was on to the right thing because when you have artists in the art world saying that your stuff is too weird, you sort of know you’re on to something. I mean, artists are the most avant-garde, forward thinking group of people there are,” says Van Arman.
“For artists and art curators not to get something that you know is true and for them to say something’s impossible, you just know the time hasn’t come yet and just keep on pursuing that.”
The Fates by Pindar Van Arman. (SuperRare)
Freedom to transact
Van Arman has frequently spoke in favor of royalties, supporting the current writer’s strike in the United States.
“I’m always in the middle of the royalty debate because I 100% support them and I support them because they exist in the writing world, they exist absolutely in the recording world. Hollywood’s on strike right now because the writers stopped getting royalties on streaming services. This has significantly impacted their lives and now they’re being taken advantage of again. The whole Hollywood strike is about royalties on streaming services like Netflix and others,” Van Arman says.
Van Arman notes the difficult of keeping track of royalties, claiming that the Ethereum network has provided a better means to guarantee the “Freedom to Transact.”
“It’s a new philosophy that the asset has to be 100% sovereign. If you own something, you have total control over it, you should not be forced to pay royalties. I went hard early on against people that were saying royalties are like tips,” Van Arman says.
“I agree with freedom to transact and that means that artists have the right to say, there are royalties on my artwork and if you don’t like it, you don’t have to buy it. No one’s forcing you to buy it and it makes perfect sense to me. But for some reason I have a hard time explaining that to people. They say no, no, no, the asset is worthless unless it has no encumbrance. They might think it’s worthless, but it might be worth something to someone else.”
Notable sales
AI Imagined Portrait Painted by a Robot by Pindar Van Arman sold for 80 Ether (ETH) ($342,100). (SuperRare) The Cryptographer 10,101 by Pindar Van Arman sold for 21.8 ETH ($93,800). (SuperRare) Bonni3 by Pindar Van Arman sold for 20 ETH ($68,900). (SuperRare)
Rapid-fire Q&A
When someone looks at your art, are there any particular emotions you hope that they’re experiencing?
“The goal for me of making AI art and the emotion I’m after is for people to not know it was AI art. To feel something and observe something and not know that the image was painted by a robot. And then only afterwards they realized it was painted by a robot, then that becomes part of the narrative. They can do a double take, they learn the story through that.”
Who are the influences on your art career to date?
“I don’t want to answer here. I don’t want to answer because I’m friends with some of them now and I don’t want to give them the satisfaction of knowing that they were my influencers haha.
If they found out, they’d become intolerable which is absolutely true. This is what I love about this space, I am hanging out with my big influencers and it’s really fun. Love it.”
Who is a notable collector of yours that makes you smile knowing they own one of your pieces?
“There’s one collector I have and that’s unusual and I really enjoy how unusual this collector is because this collector is silent and has possibly the largest AI art collection in the crypto space but has no social media presence. Zero.
This collector is ironically named Blur, not the platform. Why Blur really brings a smile to my face is they are so conscientious about their collecting that they don’t want to influence other people, they don’t want to ape into something and then have other people ape into it because they aped into it. I think that’s really noble, the collecting is coming from the heart and they never advertise their bags yet collect like mad.”
What’s your favorite NFT in your wallet that’s not your own NFT?
“The one that gives me the most joy is my CryptoPunk. I own punk 7627. That’s actually a really obvious choice when I think of my collection.”
What does Pindar listen to when creating art:
“A lot of EDM music. Also Pink Floyd once in a while.”
Pindar Van Arman in action. (Cloud Painter)
What’s hot elsewhere in NFT art markets
Winds of Yawanawa, a co-creation between the Brazilian Indigenous Yawanawa and Refik Anadol collection, is on fire. The floor ripped through a 10 ETH floor earlier in the week and has more than doubled in the last two weeks.
Other big sales include:
The Monument Game 1 of 1 by Sam Spratt sold for 420.69 ETH ($700,000). (Nifty Gateway) Ringers #195 by Dmitri Cherniak sold for 35 ETH ($57,184). (OpenSea) Ethereal by Nude Yoga Girl sold for 33 ETH ($54,259). (X)
Only two fresh Squiggle mints remain
The iconic Chromie Squiggles collection has nearly finished minting. On August 30, founder Erick “Snowfro” Calderon tweeted that 66 fresh Squiggles would be out into the world, leaving only two Squiggles remaining for the 10,000 collection.
Snowfro distributed the 66 to a selection of family, artists, collectors, institutions and friends while announcing Squiggle #9998 will be a special commemorative mint with further details soon and #9999 headed to the Los Angeles County Museum of Art.
Selection of the new 66 fresh Squiggles minted (Proof)
Day 0 Squiggles occurred on November 28, 2020 with approximately 9,000 of the total collection being minted in the first two months after the initial mint. Snowfro decided to keep the remaining mints up his sleeve and has been releasing those at various stages over the last few years as the popularity of his artwork continues to skyrocket.
Tomorrowland surpasses $2 million in NFT sales
World-renowned EDM festival Tomorrowland generated over $2 million in NFT sales on Solana.
Tomorrowland superfans were able to secure pre-sale tickets, access secret gigs, become eligible for giveaways, and be treated to exclusive tours of the festival ground.
Tomorrowland 2023 (Tomorrowland).
Tweet of the week:
The tweet of the week goes to Justin Trimble commenting on Refik Anadol’s work being spectacularly displayed on the new Vegas Sphere. The Sphere was first covered in this article of NFT Collector.
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Greg Oakford
Greg Oakford is the co-founder of NFT Fest Australia. A former marketing and communications specialist in the sports world, Greg now focuses his time on running events, creating content and consulting in web3. He is an avid NFT collector and hosts a weekly podcast covering all things NFTs.
China’s foreign ministry has hit back at what it called “unfounded” accusations of spying in Westminster, saying it has “no interest” in gathering intelligence on the UK.
Yesterday, the security service MI5 sent a warning to MPs and peers about two recruitment headhunters who are working for Chinese security services.
They are Amanda Qiu of BR-YR Executive Search and Shirly Shen of the Internship Union.
But speaking in response to a question by Asia correspondent Helen-Ann Smith, Chinese foreign ministry spokesperson Mao Ning replied: “China has repeatedly made clear its solemn position on this matter.
“We firmly oppose such unfounded allegations and the exaggerated portrayal and sensationalism that project one’s own biases onto others.
“Judgements based on erroneous information will only lead astray.
More on China
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Ms Mao added: “China never interferes in the internal affairs of other countries, nor does it have any interest in gathering so-called intelligence on the British parliament.”
Chinese spying accusations may signal thorny period ahead
It is China’s standard playbook to outright deny allegations of spying.
But given that it’s common knowledge countries spy on each other, and given the recent spate of allegations of this nature, it might feel a little far-fetched for China to stick so rigorously to the position that the UK is just making it all up.
Not so, says Mao Ning, the spokesperson for China’s Ministry of Foreign Affairs.
When I put it to her, she said that these allegations are, in fact, a “projection of one’s own biases on to others”, and that China doesn’t “have any interest in gathering so-called intelligence on the British parliament”.
That is almost certainly not true. China is commonly understood to run a highly sophisticated espionage operation.
But, in a way, the truth or untruth might be immaterial to the impact on the bilateral relationship.
While the UK government may seek to send strong signals amidst criticism that it’s being too soft, China really does not appreciate this type of laundry being aired in public.
It may well signal a thorny period ahead.
In a message seen by Sky News about parliamentary staff, MPs and peers were warned that the MI5 alert “highlights how the Chinese Ministry of State Security (MSS) is actively reaching out to individuals in our community”.
The message continued: “Their aim is to collect information and lay the groundwork for long-term relationships, using professional networking sites, recruitment agents and consultants acting on their behalf.”
Security minister Dan Jarvis later said in a statement to parliament that “China has a low threshold for what information is considered to be of value, and will gather individual pieces of information to build a wider picture”.
He added: “Let me speak plainly. This activity involves a covert and calculated attempt by a foreign power to interfere with our sovereign affairs in favour of its own interests, and this government will not tolerate it.”
The government made a statement in the House of Commons following the revelations, saying it would take all “necessary measures” to protect the UK.
Westminster employees were warned that two individuals were both known to be reaching out on LinkedIn to “conduct outreach at scale on behalf of MSS”.
This latest warning comes after the collapse of a prosecution of two people suspected of spying on behalf of China.
The previous spying allegations led to controversy over how the government under Labour responded to the Crown Prosecution Service’s requests for evidence.
Sir Keir Starmer sought to blame the previous Conservative government for the issues, which centred on whether China could be designated an “enemy” under First World War-era legislation.
Sir Keir has sought to keep relationships with Beijing somewhat warm, highlighting the value of China as a trading partner.
New Hampshire has approved the issuance of a $100 million municipal bond backed by Bitcoin, in what appears to be the first structure of its kind at the US state level.
Minutes from a Nov. 17 meeting of the New Hampshire Business Finance Authority (BFA), the state’s business financing agency, show the board planned “to consider approving a resolution authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.”
Minutes from the following day record that directors voted to “approve the preliminary official intent, with no reservation, to issue a taxable conduit revenue bond for WaveRose Depositor, LLC of up to $100,000,000.”
According to a Wednesday Crypto in America report, the bond is backed by Bitcoin (BTC) and would let companies borrow against overcollateralized BTC held by a private custodian. The state or taxpayers do not back the bond; instead, BFA approves and oversees a private deal, while Bitcoin — reportedly held in custody by BitGo — covers investors.
According to the report, asset manager Wave Digital Assets and bond specialist Rosemawr Management designed the bond to utilize Bitcoin as collateral under the same rules that govern municipal and corporate bonds. Wave co-founder Les Borsai said the goal is to “bridge traditional fixed income with digital assets” for institutional investors.
The New Hampshire State House in Concord. Source: Wikimedia
“We believe this structure shows how public and private sectors can collaborate to responsibly unlock the value of digital assets and digital asset reserves,” he added.
The borrower is expected to post approximately 160% of the bond’s value in Bitcoin as collateral, and if the price of BTC drops below roughly 130%, a liquidation would ensure that bondholders stay whole. According to BFA Executive Director James Key-Wallace, fees from the transaction will fund the local innovation and entrepreneurship program, the Bitcoin Economic Development Fund.
New Hampshire dives headfirst into crypto
The news follows New Hampshire becoming the first US state to allow its government to invest in cryptocurrencies in May after Governor Kelly Ayotte signed a bill allowing the municipality to “invest in cryptocurrency and precious metals.”
New Hampshire is also working on a bill to deregulate local cryptocurrency mining operations. In late October, a committee voted 4–2 to send the measure for further review in an interim study after it had been deadlocked in the State Senate twice.
The local administration is viewed as particularly welcoming to the cryptocurrency industry. In early February, Brendan Cochrane, an Anti-Money Laundering specialist at YK Law in New York City, argued that it could become an alternative for crypto companies relocating to the Bahamas.
The latest moves build on a longer history of crypto engagement. Back in 2015, New Hampshire was already working on a bill that would have allowed the state government to accept tax and fee payments in Bitcoin.
Global bank regulators are preparing to revisit their most stringent crypto rules after the United States and the United Kingdom refused to implement them, a move that threatens to unravel the long-standing consensus of the Basel Committee.
In an interview with the Financial Times, Erik Thedéen, the governor of the Swedish central bank and chair of the Basel Committee on Banking Supervision (BCBS), said they may need a “different approach” to the current 1,250% risk weighting for crypto exposures.
According to global law firm White & Case, the application of the 1,250% risk weight means that credit institutions must hold their own funds of at least equal value to the amount of the respective crypto-asset exposure.
Under the existing framework, crypto assets issued on a permissionless blockchain, which includes stablecoins such as USDt (USDT) and USDC (USDC), receive the same 1,250% risk weighting used for the riskiest venture investments.
However, Thedéen acknowledged that the rapid growth of regulated stablecoins has changed the policy landscape. “What has happened has been fairly dramatic,” Thedéen told the Financial Times, adding that there is a strong increase in stablecoins and that the amount of assets in the system calls for a new approach.
“We need to start analysing. But we need to be fairly quick on it,” Thedéen added, floating questions over stablecoin risks and if there was an argument that could approach the assets in “a different way.”
Explicit resistance from major economies
The resistance felt from major economies is now more explicit. According to the FT report, the US Federal Reserve does not plan to implement the Basel crypto rules as written, with policymakers calling the capital charges unrealistic.
The Bank of England also signaled that it will not apply the framework in its current form. At the same time, the European Union has only partially implemented the 2022 standard, excluding key provisions that cover permissionless blockchains.
Citing anonymous sources, Bloomberg previously reported that the Basel Committee is preparing to revise its 2022 guidance next year to be more favorable to banks participating in crypto markets.
The report said that many banks interpreted the framework as a deterrent to engaging with cryptocurrency or stablecoin services.
The talks reportedly intensified as regulated stablecoins gained traction in the US, supported by US President Donald Trump and the passage of the GENIUS Act, which formally authorized the use of these assets in payments.
Stablecoin boom requires rethink of rules
Thedéen echoed the concerns in the FT report, saying that the increase in stablecoin adoption requires fresh analysis and a potentially more lenient stance.
However, he also said that reaching an agreement may be difficult as regulators are divided on core assumptions about crypto’s risk profile and the role of bank-issued digital assets.
“Going further than that at this point in time is difficult, because I’m the chair and there are so many different views in this committee,” he said
The divergence in policies creates a competitive imbalance for global banks. If EU banks remain bound by these mandates while the US and the UK operate under more lenient frameworks, the playing field becomes significantly tilted.
This imbalance would influence which jurisdictions can build bank-issued stablecoin products, tokenized deposits or even crypto custody solutions.