5. Discussion and conclusion
5.3 Limitations
Due to the overall research design, it must be noted that the number of ten case studies is relatively small to explore and explain all possible patterns. Furthermore, the data collection in text form was limited to an average of five articles in this work due to time capacity and availability. Again, a more detailed or additional analysis, for example of available video material (which was only partially considered in this study), could provide further insights. It should also be noted that due to the deductive approach in the thematic analysis of the documents, further patterns and themes may not have been directly apparent (new topic groups were only created here as additional subgroups under existing themes). Although care was taken to enable a balanced document collection per case, occasional differences in terms of the availability of articles occurred. The partial analysis of the business model therefore represents rather a superficial, but for the general state of research important first impression of the innovation. However, as discussed in the chapter before, this needs to be examined in more depth. Ultimately, the results can be further used in practice as well as in literature, as the artists studied are successful examples for engaging with NFTs and can therefore be explored by
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Appendix A
How Blockchain Works. Source: Infographic (Fox, 2017).
Appendix B
What do we mean by the Cultural and Creative Industries? Source: (Unesco, n.d.).
Appendix C
Nifty Gateway operation. Source: (Khezr & Mohan, 2021, p.11).
Appendix D
Overview of selected case studies.
Anna Zhilyaeva is a French/Russian virtual reality artist.
She calls herself Anna Dream Brush because her paintings are mostly created with a VR tilt brush. She is considered as an early adopter or a pioneer in the field of virtual reality art which brought a lot of attention to her (Anna Dream Brush, n.d.; NFT culture, n.d.).
Artist since: Since 14 Using NFTs since:
February 2021 Followers on:
Instagram: 59.2k Twitter: 24.5k Victor Langlois, better known as Fewocious, is a
19-year-old digital artist who sold his first painting at 17. Through successful NFT sales he made over $17 million in just under a year. His paintings mostly represent his feelings and memories about his past as a refugee and a young transgender artist (Fewocious, n.d.).
Artist since: Always (first sale in 2020) Using NFTs since:
2020
Followers on:
Instagram: 58.9k Twitter: 130.5k Hackatao is “an artist duo formed in Milan in 2007.
“Hack” for the pleasure of going under the skin and discovering what’s hidden inside; “Tao” for Yin and Yang, their creative dynamic balance”. Their entry in the NFT market was relatively late, but after only a short time they were able to achieve enormous success (Gateway, n.d.).
Artist since:
2008
Using NFTs since:
2018
Followers on:
Instagram: 13.1k Twitter: 75k Artist since: 2014
Krista Kim, a contemporary artist, founded the Techism Movement and created the Mars House. During the COVID-19 lockdown, she developed a virtual environment that would have a healing and meditative effect and sold it “as the first
“Metaverse home”” in March 2021 (Kim, n.d.).
Using NFTs since:
May 2020 Followers on:
Instagram: 41.3k Twitter: 19.7k Alycia Rainaud is a French digital artist and graphic
designer based in Canada. She created her artist name
“Maalavidaa” in 2016. Her work is inspired by color therapy and meditation and deals with topics like emotional support and healing (Rainaud, 2021).
Artist since: 2016 Using NFTs since:
January 2021 Followers on:
Instagram: 236k Twitter: 22.8k Mad Dog Jones (Michah Dowbak is his real name) is a
Canadian digital artist. He has many partnerships with well-known companies, musicians, and other artists. His art contains
“photographs or hand drawings of urban objects such as buildings, street signs, or traffic pylons which he then morphs through collage, coloring, and illustrating into a cyberpunk scene on his iPad” (Everipedia International, 2021).
Artist since: 2017 Using NFTs since:
April 2021 Followers on:
Instagram: 317k Twitter: 47.6k
Micah Johnson is a former MLB player and turned artist. He is known in the NFT space for creating a character which stand for “youth, aspiration, and the complete defiance of societal bindings”. His NFT collections are in demand and supported by various celebrities (nft now, 2022)
Artist since: 2016 Using NFTs since: 2020 Followers on:
Instagram: 27.6k Twitter: 35.9k Artist since: 2014
Refik Anadol is “media artist, director, and pioneer in the aesthetics of machine intelligence”. Originally from Turkey, he currently lives in Los Angeles, California. His artworks address challenges and opportunities of artificial intelligence on the humankind and introduces the “post-digital architecture”
which is all about imagining alternative realities (Anadol, n.d.).
Using NFTs since:
March 2021 Followers on:
Instagram: 590k Twitter: 89.7k
Trevor Jones considers himself a “traditional painter but one who is also very much fascinated with art and tech collaboration”. After buying some Bitcoin in June 2017, his paintings mostly represent “cryptocurrency themes, ideas and people” (Jones, 2021).
Artist since: 2012 Using NFTs since: 2018 Followers on:
Instagram: 10.7k Twitter: 72.6k Yam Karkai is a digital illustrator and NFT artist from
Portugal. She is best known for her NFT collection “World of Women”, which brings “diversity and inclusion into the nft world while creating a safe welcoming space for women and minorities and also supporting up and coming artists“ (Karkai, n.d.).
Artist since: 2020 Using NFTs since: July 2021
Followers on:
Instagram: 13.4k Twitter: 61.5k
Appendix E
Units of analysis: Source tables (used in chapter 4).
Case 1: Anna Dream Brush
Value Proposition
- Lavania, R. (2022). Anna Zhilyaeva: A beacon of Immersive Art and Volumism in the NFT space. Retrieved 03 May, 2022, from
https://www.cryptotimes.io/anna-zhilyaeva-a-beacon-of-immersive-art-and-volumism-in-the-nft-space/
- MakersPlace (2021). Beyond Painting: Exploring Volumism with Anna Zhilyaeva. Retrieved April 24, 2022, from
https://rare.makersplace.com/2021/01/12/beyond-painting-exploring-volumism-with-anna-zhilyaeva/
Customer-Relationship
- 20 Twitter posts and comments between 18 February 2022 and 14 March 2022 and 20 Instagram posts and comments between 17 June 2021 and 15 March 2022, see this link for the data
Channels
- 20 Twitter posts and comments between 18 February 2022 and 14 March 2022 and 20 Instagram posts and comments between 17 June 2021 and 15 March 2022, see this link for the data
Revenue Streams
Case 2: Fewocious
Value Proposition
- Christie’s (2021). ‘This is who I am’: Fewocious on his life in art. Retrieved April 23, 2022, from
https://www.christies.com/features/FEWOCiOUS-on-his-life-in-art-11746-3.aspx
- Kurutz, S. (2021). Teens Cash In on the NFT Art Boom.
Retrieved April 23, 2022, from
https://www.nytimes.com/2021/08/14/style/teens-nft-art.html - Morozova, V. (2021). NFTs New Series: The Trending Artists
in the NFT World You Need to Know About. Retrieved April 20, 2022, from https://art.art/blog/the-trending-artists-in-the-nft-world-you-need-to-know-about
Customer-Relationship
- 20 Twitter posts and comments between 11 April 2022 and 21 April 2022 and 20 Instagram posts and comments between 02 December 2021 and 09 April 2022, see this link for the data
Channels
- Gary Vee (2021). GaryVee Audio Experience: Fewocious.
Retrieved April 28, 2022, from
https://www.youtube.com/watch?v=i4jfKmml4Xg
Revenue Streams
- NFTexplained (n.d.). Who Is Fewocious? – The Digital Artist With A Powerful Story. Retrieved April 23, 2022, from https://nftexplained.info/who-is-fewocious-the-digital-artist-with-a-powerful-story/
- Morozova, V. (2021). NFTs New Series: The Trending Artists
20, 2022, from https://art.art/blog/the-trending-artists-in-the-nft-world-you-need-to-know-about
Case 3: Hackatao
Value Proposition
- Brizi, E. (2020). In The Studio with Hackatao. Retrieved 30 April, 2022, from https://www.mocda.org/post/hackatao- eleonora-brizi-in-the-studio-with-artist-do-hackatao-sergio-scalet-and-nadia-squarci
- Psycheincrypto (2021). Hackatao’s Hack of a Bear – The Digital is Life. Retrieved April 26, 2022, from https://psyche- crypto.medium.com/hackataos-hack-of-a-bear-the-digital-is-life-4b0683ba3307
Customer-Relationship
- 20 Twitter posts and comments between 27 April 2022 and 01 May 2022 and 20 Instagram posts and comments between 15 April 2022 and 30 April 2022, see this link for the data
Channels
- 20 Twitter posts and comments between 27 April 2022 and 01 May 2022 and 20 Instagram posts and comments between 15 April 2022 and 30 April 2022, see this link for the data Revenue Streams
Case 4: Krista Kim
Value Proposition
- Calandra, C. (2021). Krista Kim, contemporary digital artist, founder of the Techism movement. Retrieved April 23, 2022, from https://www.wundermanthompson.com/insight/krista-kim-contemporary-digital-artist-founder-of-the-techism-movement - Estorick, A. (2022). The Worldbuilders of Web3. Retrieved
April 23, 2022, from https://www.rightclicksave.com/article/the-worldbuilders-of-web3
- Lok, I. (2022). Louis 200: Krista Kim’s trunk design is an exploration of the potential of the metaverse. Retrieved April 23, 2022, from https://vogue.sg/louis-200-krista-kim-trunk-design-metaverse/
- Mun-Delsalle, Y. (2018). Like A New Digital Rothko, Krista Kim Uses Technology To Create Meditative, Healing Art.
Retrieved April 23, 2022, from
https://www.forbes.com/sites/yjeanmundelsalle/2018/03/08/like- a-new-digital-rothko-krista-kim-uses-technology-to-create-meditative-healing-art/
- Nft now podcast (2021). The Future of Metaverse Real Estate with Krista Kim. Retrieved April 23, 2022, from
https://www.youtube.com/watch?v=cK5IIyxhLEg
Customer-Relationship
- 20 Twitter posts and comments between 08 April 2022 and 22 April 2022 and 20 Instagram posts and comments between 23 March 2022 and 22 April 2022, see this link for the data
Channels
- Cash, D. (2021). My Favourite NFT Artists: The Krista Kim Interview. Retrieved April 30, 2022, from https://nfts.wtf/my-favourite-nft-artists-the-krista-kim-interview/
- Stankiewicz, K. (2021). Creator who sold nft house for
$500,000: We’ll be ‘living in an augmented reality lifestyle’
soon. Retrieved April 28, 2022, from
https://www.cnbc.com/2021/03/17/creator-of-first-nft-digital-house-krista-kim-on-augmented-reality-.html
Revenue Streams
- 20 Twitter posts and comments between 08 April 2022 and 22 April 2022 and 20 Instagram posts and comments between 23 March 2022 and 22 April 2022, see this link for the data
Case 5: Maalavidaa
Value Proposition
- Vapor95 (n.d.). Artist Spotlight. Maalavidaa. Retrieved May 02, 2022, from https://vapor95.com/blogs/darknet/artist-spotlight-maalavidaa
Customer-Relationship
- 20 Twitter posts and comments between 15 April 2022 and 01 May 2022 and 20 Instagram posts and comments between 17 March 2022 and 01 May 2022, see this link for the data
Channels
- The Canadian News (2021). Artists are changing their lives with crypto. Retrieved May 01, 2022, from
https://thecanadian.news/artists-are-changing-their-lives-with-crypto/
Revenue Streams
- Lightbox (2019). Interview: In Conversation with Alycia Rainaud. Retrieved May 01, 2022, from
https://lightbox.io/2019/07/29/interview-in-conversation-with-alycia-rainaud/
- Vapor95 (n.d.). Artist Spotlight. Maalavidaa. Retrieved May 02, 2022, from https://vapor95.com/blogs/darknet/artist-spotlight-maalavidaa
Case 6: Mad Dog Jones
Value Proposition
- Cascone, S. (2021). Phillips Is Entering the Digital Fray With the Sale of a Mad Dog Jones NFT That Will Generate New NFTs Every Month. Retrieved 02 May, 2022, from
https://news.artnet.com/market/phillips-mad-dog-jones-nft-1956730
- Kinsella, E. (2021). Mad Dog Jones Is the Most Expensive Living Canadian Artist After Phillips’s $4.1 Milliion Sale of His Self-Replicating NFT. Retrieved April 24, 2022, from https://news.artnet.com/market/phillips-4-4m-sale-of-mad-dog-nft-1961626
- NFTexplained (n.d.). Everything About Mad Dog Jones – An Innovative Digital Artist. Retrieved April 30, 2022, from https://nftexplained.info/everything-about-mad-dog-jones-an-innovative-digital-artist/
Customer-Relationship
- 20 Twitter posts and comments between 27 February 2022 and 22 April 2022 and 20 Instagram posts and comments between 20 April 2021 and 28 March 2022, see this link for the data
Channels
- Cascone, S. (2021). Phillips Is Entering the Digital Fray With the Sale of a Mad Dog Jones NFT That Will Generate New NFTs Every Month. Retrieved 02 May, 2022, from