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.
Stablecoin issuer Circle has secured regulatory approval to operate as a financial service provider in the Abu Dhabi International Financial Center, deepening its push into the United Arab Emirates.
In an announcement Tuesday, Circle Internet Group said it received a Financial Services Permission license from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi. This allows the stablecoin issuer to operate as a Money Services Provider in the IFC.
The USDC (USDC) issuer also appointed Saeeda Jaffar as its managing director for Circle Middle East and Africa. The new executive also serves as a senior vice president and group country manager for the Gulf Operation Council at Visa and will be tasked with developing the stablecoin issuer’s regional strategy and partnerships.
Circle co-founder, chairman and CEO Jeremy Allaire said that the relevant regulatory framework “sets a high bar for transparency, risk management, and consumer protection,” adding that those standards are needed if “trusted stablecoins” are going to support payments and finance at scale.
The newly introduced Federal Decree Law No. 6 of 2025 brings DeFi platforms, related services and infrastructure providers under the scope of regulations if they enable payments, exchange, lending, custody, or investment services, with licenses now required. Local crypto lawyer Irina Heaver said that “DeFi projects can no longer avoid regulation by claiming they are just code.”
Crypto companies seeking a US federal bank charter should be treated no differently than other financial institutions, says Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC).
Gould told a blockchain conference on Monday that some new charter applicants in the digital or fintech spaces could be seen as offering novel activities for a national trust bank, but noted “custody and safekeeping services have been happening electronically for decades.”
“There is simply no justification for considering digital assets differently,” he added. “Additionally, it is important that we do not confine banks, including current national trust banks, to the technologies or businesses of the past.”
The OCC regulates national banks and has previously seen crypto companies as a risk to the banking system. Only two crypto banks are OCC-licensed: Anchorage Digital, which has held a charter since 2021, and Erebor, which got a preliminary banking charter in October.
Crypto “should have” a way to supervision
Gould said that the banking system has the “capacity to evolve from the telegraph to the blockchain.”
He added that the OCC had received 14 applications to start a new bank so far this year, “including some from entities engaged in novel or digital asset activities,” which was nearly equal to the number of similar applications that the OCC received over the last four years.
Comptroller of the Currency Jonathan Gould giving remarks at the 2025 Blockchain Association Policy Summit. Source: YouTube
“Chartering helps ensure that the banking system continues to keep pace with the evolution of finance and supports our modern economy,” he added. “That is why entities that engage in activities involving digital assets and other novel technologies should have a pathway to become federally supervised banks.”
Gould brushes off banks’ concerns
Gould noted that banks and financial trade groups had raised concerns about crypto companies getting banking charters and the OCC’s ability to oversee them.
“Such concerns risk reversing innovations that would better serve bank customers and support local economies,” he said. “The OCC has also had years of experience supervising a crypto-native national trust bank.”
Gould said the regulator was “hearing from existing national banks, on a near daily basis, about their own initiatives for exciting and innovative products and services.”
“All of this reinforces my confidence in the OCC’s ability to effectively supervise new entrants as well as new activities of existing banks in a fair and even-handed manner,” he added.
The US Commodity Futures Trading Commission has issued updated guidance for tokenized collateral in derivatives markets, paving the way for a pilot program to test how cryptocurrencies can be used as collateral in derivatives markets.
Collateral in derivatives markets serves as a security deposit, acting as a guarantee to ensure that a trader can cover any potential losses.
The digital asset pilot, announced by CFTC acting chairman Caroline Pham on Monday, will allow futures commission merchants (FCM) — a company that facilitates futures trades for clients — to accept Bitcoin (BTC), Ether (ETH) and Circle’s stablecoin USDC (USDC) for margin collateral.
Pham said in a statement that the pilot program also “establishes clear guardrails to protect customer assets and provides enhanced CFTC monitoring and reporting.”
As part of the pilot, participating FCMs will be subject to strict reporting criteria, which require weekly reports on total customer holdings and any significant issues that may affect the use of crypto as collateral.
The CFTC’s Market Participants Division, Division of Market Oversight, and Division of Clearing and Risk also issued updated guidance on the use of tokenized assets as collateral in the trading of futures and swaps.
The guidance covers tokenized real-world assets, including US Treasury’s money market funds, and topics such as eligible tokenized assets, legal enforceability, segregation and control arrangements.
Pham said in an X post on Monday that the “guidance provides regulatory clarity and opens the door for more digital assets to be added as collateral by exchanges and brokers, in addition to US Treasurys and money market funds.”
The Market Participants Division also issued a “no-action position” on specific requirements regarding the use of payment stablecoins as customer margin collateral and the holding of certain proprietary payment stablecoins in segregated customer accounts.
A CFTC Staff Advisory that restricted FCMs’ ability to accept crypto as customer collateral, Staff Advisory 20-34, was also withdrawn because it is “outdated and no longer relevant,” in part due to the GENIUS Act.
Crypto execs back CFTC move
Several crypto executives applauded the move by the CFTC.
Katherine Kirkpatrick Bos, the general counsel at blockchain company StarkWare, said the use of “tokenized collateral in the derivatives markets is MASSIVE.”
“Atomic settlement, transparency, automation, capital efficiency, savings. Feels abrupt but who recalls the tokenization summit in 2/24, a glimmer of hope in the darkness,” she said.
Coinbase chief legal officer Paul Grewal also supported the action, calling Staff Advisory 20-34 a “concrete ceiling on innovation.”
“It relied on outdated info, went well beyond the bounds of regulation and frustrated the goals of the PWG.”
Salman Banaei, the general counsel at layer-1 blockchain the Plume Network, said it was a “major move” by the CFTC, and another push toward wider adoption.
“This is a step toward the use of onchain infra to automate settlement for the biggest asset class in the world: OTC derivatives, swaps,” he added.