Despite current times being described as somewhat troubling for the crypto industry in general, some innovative and exciting players are refusing to back down or give up on ambition. The ever current and tirelessly evolving art gallery, Pace, announced this week it would be partnering with the equally enterprising and topical Art Blocks.
Although not completely out of left field, the move does come at an interesting time for the NFT industry. What we want to know is why the two parties decided their moment was now and what they intend to do with the opportunity. Keep reading to find out what we know so far.
What Is Pace?
First things first: what exactly is Pace Gallery? Founded in 1960, Pace has grown to become one of the world’s leading international contemporary art galleries with nine stunning locations and an impressive list of big-name connections. It celebrates artists as much as it celebrates art, which is part of the reason for its decades-long success and industry relationships.
Towards the end of 2021, Pace launched its dedicated NFT platform, Pace Verso. It marked the gallery’s first official move into the NFT world- coming several months after it began accepting Ethereum currency as payment for digital art.
What Is Art Blocks?
The other half of this stirring partnership is Art Blocks: the number one NFT creation platform for generative art. What does that mean, exactly? Let us explain:
Generative art is created using artist-born algorithms and programmatic minting. Artists use Art Blocks to upload their arty algorithms for sale and then select how many editions can be purchased. The platform then randomly assigns varying factors into the code to create unique NFTs, which are minted and created at the moment of purchase.
It is also used by popular blue-chip collections to help generate token attributes. Bored Apes Yacht Club and CryptoPunks are two examples of well-known NFTs that use Art Blocks to help with their creation.
Art Blocks launched in 2020 thanks to Eric Calderon- also known as Snowfro. He credits his success to his tech-savvy understanding and ability to manipulate the minting process- skills he picked up when trying to acquire one of the ultra-rare CryptoPunk Zombies. He is considered one of the most influential figures in the NFT industry, and his platform, Art Blocks, is the center of the entire generative art movement.
About the Partnership
According to the President and CEO of Pace, the primary aim of this partnership is to connect their artists to the NFT collecting community, ultimately expanding their reach and encouraging a new branch of creativity through technology.
By joining forces, Pace’s artists will gain access to all of Art Blocks’ technology and software. There are also going to be dedicated engineers and leading development experts to assist in the change to NFTs. Some digital artists from the crypto platform Pace Vargo are also set to be part of the first wave of creatives to test the new waters.
On top of all this, in-person programming events are planned in Pace’s various worldwide locations, which are reportedly planned as ongoing occasional workshops.
Caldera of Art Blocks says that now is the perfect time to launch this partnership. As a well-weathered NFT veteran and patron, the generative art platform’s founder is in a unique position to comment on the timing and what it means for the industry.
He shared his thoughts on the ups and downs of the NFT industry over the recent years and why now feels right. The wild rush of late 2021 saw swathes of investors, collectors, and artists jumping on board for the excitement of a new and lucrative digital asset, but now that the dust has settled, it may be time for the art to shine.
If people are now appreciating and buying NFT art for the sake of the art itself, it makes sense to combine a leading name in international art with one of the most revolutionary Web3 platforms.
The inaugural launch is set to arrive later this month. Petro National by John Gerrard is a collection of 196 NFTs connected to a climate change project focusing on the effects of oil. It launches on June 21st on the Art Blocks platform and will be on display for three days in Pace Galleries.