Generative artist William Mapan’s latest collection, “Distance,” sold out in less than 24 hours despite launching in the middle of a very weak NFT market.
From his early long-form generative series “Dragons” on the Tezos blockchain to the highly sought-after “Anticyclone” ArtBlocks collection that currently commands a 5 ETH floor, Mapan has a unique way of capturing the hearts and minds of collectors.
But many people in the public still don’t understand what generative art even is. Mapan has a unique way of explaining the often misunderstood genre by boiling it down to a piece of paper, a crayon and a die.
“It can be really hard to explain but usually the way I explain is to put away the code, put away the blockchain, put away everything. Just take a piece of paper, a crayon and dice. Imagine drawing two by two boxes on that paper, so four boxes total. You then throw the dice — if the roll shows up as a three or below, you draw a square; if the dice shows four or above, you draw a circle into one of the boxes.
“You just made an algorithm; you just made a set of rules and introduced some randomness in there. That’s basically what generative art is, you build a set of rules, an algorithm and then introduce randomness. Then you try to control that part of the space.
Strands of Solitude #010 by William Mapan (OpenSea)
“With the grid of two by two, the parameter of space is very reduced, but as soon as you expand to different parameters, you can get many different outputs. Imagine a 10 by 10 box and imagine you have multiple shapes like a circle, triangle, square, star or whatever. You just write down your rules and just follow them, and that’s it.”
Fine line technique
Mapan’s work straddles the line between appearing as if it’s physically or digitally made, a technique other artists such as Tyler Hobbs and Emily Xiu have a reputation for.
“I like to activate senses, feelings and memories. My hope is that when you see my work, it sparks curiosity. You might think my art reminds you of something in one way, but in another way, you’re thinking there are so many shapes that it’s impossible that someone made it by hand,” says Mapan.
“I hope that it connects with people in their memories, especially like the last series that I released last week, “Distance.” I want people to see themselves traveling, and they remember, ‘Oh, I was on this plane when I saw this kind of landscape down there.’ I like to trigger emotions and curiosity.”
Distance #22 by William Mapan (OpenSea)
Based in France, Mapan credits Matt Deslauriers, the artist behind Meridians and Subscapes, as his introduction to art on the blockchain. Mapan’s first NFT was minted on 4 March 2021 on Tezos, where he put a lot of his early digital work before launching Anticyclone via ArtBlocks on Ethereum on 23 April 2022.
“Matt helped me navigate early on. He kindly explained it all to me, and it started to make sense over time. I started in the Tezos ecosystem, which was a very community art-driven vibe,” Mapan says.
“It intrigued me that you could put an algorithm on the blockchain, and when people mint it, they buy an iteration that triggers your algorithm on demand. It was a new way to think about your work. Basically, the collector is a triggering point.”
Notable Sales
“Anticyclone #470” by William Mapan sold for 182 ETH ($229,856). (OpenSea)“Anticyclone #743” by William Mapan sold for 37 ETH ($50,430). (OpenSea)“Strands of Solitude #253” by William Mapan sold for 16 ETH ($26,321). (OpenSea)
Rapid-fire Q&A
Are there any up-and-coming artists who you think people should be paying attention to?
“Anna Lucia:I definitely love her work. She’s very talented, and I can’t wait to see her progress. You need to look her up.”
What are the influences on your art career to date?
“Abstract expressionism movement and people pushing boundaries in modern-day art.”
Who is a notable collector of yours that makes you smile knowing they own one of your pieces?
“AC the collector — He is one of the most engaging ones. He comes to exhibitions and talks to me. He always tries to reach out to me and to understand the practice behind the work. AC is definitely a great collector.”
What’s your favorite NFT in your wallet that’s not your own NFT?
“I don’t know why I love this, but I just do. It’s perfect because I love Iskra’s work and I love Zach’s work. It’s the perfect combination. I love the light and abstract shapes, it’s just amazing work.”
Who do you listen to when creating art?
“Kendrick Lamar and Sofiane Pamart. I really like classical music, especially when I try to be in the flow state. When I need to crush stuff, it’s hip hop.
“Performers are in another light. They need to go up in front of the public. They have to be fragile and sensible, yet you have to let your shell down. I find that very inspiring.
“I try to be more like that. To let my emotions out. Prior, I was basically shutting them down because I wasn’t creating art full-time. Now that art is my job, I want to explore expressing myself more. Performers are very inspiring in that regard.”
“Untitled” by William Mapan (objkt.com)
What’s hot in NFT art markets
Mapan’s aforementioned “Distance,” a collaboration with Cactoid Labs and LACMA, sold out its 250-piece collection at a 2 ETH mint price per piece. The collection has done close to 185 ETH in secondary sales volume since its 13 September mint.
Below are some of the other top recent digital art sales.
Ringers #343 by Dmitri Cherniak sold for 39.99 ETH ($65,395). (OpenSea)Door VII by Matt Kane sold for 22.5 ETH ($36,787). (OpenSea)Chromie Squiggle #1606 by Snowfro sold for 20 ETH ($32,877). (OpenSea)
Cool Cats headed to Macy’s Thanksgiving Day Parade
Nothing says mainstream more than the iconic Macy’s Thanksgiving Day Parade in New York City, and Cool Cats is set to become the first NFT collection to be featured.
In its 97th annual edition, the parade ran a contest that featured numerous NFT collections, including SupDucks, Boss Beauties and VeeFriends. Cool Cats eventually won out, which means a massive Blue Cat balloon will grace the skies of Manhattan on 23 November.
The lead artist and founder of Cool Cats, Clon, couldn’t be more excited for his beloved project.
“This is a big moment for me as an artist and as the founder of Cool Cats. Personally, the Macy’s Thanksgiving Day Parade has always been an important event in my family and it holds a lot of memories. Being able to showcase my artwork alongside some of the world’s most recognizable characters is a dream come true,” says Clon.
After a bumpy ride over the past few weeks, the Nouns DAO fork has finished with 472 Nouns NFT holders out of 844 in total opting into the fork that was approved in proposal 356.
The Nouns holders that opted into the fork will have the opportunity to get approximately 35 ETH back, while Noun holders that voted against proposal 356 will carry on as the DAO had originally been structured, where 1 Noun per day is auctioned, with the proceeds going to fund the treasury of Nouns.
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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.
Thousands of job cuts at the NHS will go ahead after the £1bn needed to fund the redundancies was approved by the Treasury.
The government had already announced its intention to slash the headcount across both NHS England and the Department of Health by around 18,000 administrative staff and managers, including on local health boards.
The move is designed to remove “unnecessary bureaucracy” and raise £1bn a year by the end of the parliament to improve services for patients by freeing up more cash for operations.
NHS England, the Department of Health and Social Care, and the Treasury had been in talks over how to pay for the £1bn one-off bill for redundancies.
It is understood the Treasury has not granted additional funding for the departures over and above the NHS’s current cash settlement, but the NHS will be permitted to overspend its budget this year to pay for redundancies, recouping the costs further down the line.
‘Every penny will be spent wisely’
Chancellor Rachel Reeves is set to make further announcements regarding the health service in the budget on 26 November.
And addressing the NHS providers’ annual conference in Manchester today, Mr Streeting is expected to say the government will be “protecting investment in the NHS”.
He will add: “I want to reassure taxpayers that every penny they are being asked to pay will be spent wisely.
“Our investment to offer more services at evenings and weekends, arm staff with modern technology, and improving staff retention is working.
“At the same time, cuts to wasteful spending on things like recruitment agencies saw productivity grow by 2.4% in the most recent figures – we are getting better bang for our buck.”
Image: Health Secretary Wes Streeting during a visit to the NHS National Operations Centre in London earlier this year. Pic: PA
He is also expected on Wednesday to give NHS leaders the go-ahead for a 50% cut to headcounts in Integrated Care Boards, which plan health services for specific regions.
They have been tasked with transforming the NHS into a neighbourhood health service – as set down in the government’s long-term plans for the NHS.
Those include abolishing NHS England, which will be brought back into the health department within two years.
Arjun Sethi, the co-CEO of major crypto exchange Kraken, criticized the United Kingdom’s crypto regulations, which he believes hinder services for their customers.
In an interview with the Financial Times, Sethi said that “in the UK today, if you go to any crypto website, including Kraken’s, you see the equivalent to a cigarette box.” He suggested that the disclaimers have a significant impact on customer experience.
Sethi suggested that disclosures slow users down and that, because of the importance of speed in crypto trading, “it’s worse for customers.” He concluded that “disclosures are important […] but if there are 14 steps, it’s worse.”
The UK Financial Conduct Authority’s (FCA) updated financial promotion regime came into force in October 2023. It introduced a “cooling-off” period for first-time crypto investors and requires firms to assess whether users have sufficient knowledge and experience before trading.
Sethi said that the rules may prompt customers to avoid investing in crypto altogether, potentially leading to missed potential gains. The FCA defended the rules, noting that “some consumers may make an informed decision that investing in crypto is not right for them — that is our rules working as intended.”
Example of disclaimer from the Kraken website. Source: Kraken
Despite frustrations with the FCA, the UK appears to be moving toward a broader alignment with the United States on digital-asset oversight.
Lisa Cameron, a former United Kingdom Member of Parliament and founder of the UK-US Crypto Alliance, said she believes a joint “sandbox” between the UK and the US is in development to align their crypto markets.
She came to this conclusion after discussion with US Senators and regulators and expects the sandbox’s purpose to be to “iron out some of this in terms of passporting” for crypto licenses between the UK and the US.
On Monday, the Bank of England published a consultation paper proposing a regulatory framework for stablecoins. The new legislation is focused on sterling-denominated “systemic stablecoins” widely used in payments, similar to the US’s GENIUS Act.
A crypto collaboration between the UK and the US is not a new phenomenon. September reports noted that treasury authorities in the US and UK created a transatlantic task force to explore “short-to-medium term collaboration on digital assets.” Also in September, UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent discussed how the two nations could strengthen their coordination on crypto.
September also saw UK trade groups urge the UK government to include blockchain technology in a technology collaboration with the US program known as “Tech Bridge.” A joint letter by the organization warned that “excluding digital assets from the UK-US Tech Bridge would be a missed opportunity,” and that it “risks leaving Britain on the sidelines.”
Japan’s first domestic stablecoin issuer said digital asset companies may soon become significant players in the country’s sovereign debt market, potentially reshaping monetary policy.
JPYC, the Tokyo-based company behind Japan’s first yen-pegged stablecoin, said issuers may evolve into major buyers of Japanese government bonds (JGBs) as their reserves increase.
In comments reported by Reuters, JPYC founder and CEO Noritaka Okabe said stablecoin reserves could fill the gap left by the Bank of Japan (BOJ) as it slows its bond purchases.
The Tokyo-based startup started issuing its yen-backed token, also dubbed JPYC, on Oct. 27, under the country’s revised Payment Services Act, its first legal framework for stablecoins. The company has issued about $930,000 worth of tokens to date and aims to reach a circulation of $66 billion within the next three years.
The token is backed by a combination of bank deposits and JGBs and is fully convertible to yen. It’s also designed to move seamlessly across blockchain rails.
Stablecoin issuers as new bond buyers
Okabe said JPYC plans to invest 80% of its issuance proceeds in JGBs and keep the remaining 20% in bank savings, initially focusing on short-term securities. He added that the company may consider longer-term JGBs in the future as demand grows and the yields remain attractive.
This type of allocation could give stablecoin issuers a significant role in Japan’s debt market, where the BOJ still holds about half of the $7 trillion JGB market. As the central bank slows bond purchases, new buyers need to absorb the issuance.
Because of this, Okabe floated the idea that stablecoin reserves could naturally fill part of the vacuum, linking blockchain adoption to fiscal financing.
“The volumes of JGBs stablecoin issuers buy will be swayed by the balance of supply and demand for stablecoins,” he said, noting that this trend “will happen around the world” and that Japan will not be an exception.
Okabe’s comments came as stablecoins continue to see adoption in Japan’s traditional finance sector.
On Friday, the Financial Services Agency (FSA), the country’s financial regulator, endorsed a yen-pegged stablecoin project led by Japan’s biggest financial institutions.
The FSA announced the “Payment Innovation Project,” an initiative that involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform.
The regulator said that the companies will begin issuing payment stablecoins this month.