The On-the-Ground Appetite for Digital Art in 2024: Regional Trends and Future Trajectory - Interview with Museframe Founder Dyl Blaquiere.
In a recent conversation with Dyl Blaquiere, Founder of Museframe, we explored the evolving landscape of digital art, its growing presence in traditional art events, and the future of NFTs. Here are some key takeaways from our interview:
1. The Evolution of Art Events
Q: Do you see anything being done differently at these events from previous years?
A: Yes, the need for digital art is growing, and the need for dedicated beautiful frames is greater than ever. Artists don't want their artwork shown on a reflective cheap television. This shift reflects a broader acceptance and demand for digital art displays that match the quality and prestige of the artwork itself.
2. Unique Highlights of Art Events
Q: With the events mentioned, is there anything you see unique or worth highlighting between them?
A: Each event is different, but events such as Art Dubai, Art Basel, and Venice Biennale are particularly interesting as they position digital art alongside luxury contemporary art. This inclusion signals a significant recognition of digital art within the high-end art market.
3. Regional Trends and Market Buzz
Q: Based on the event's interest and attendance, do you see any regions or markets more buzzing than others?
A: Our sales are very strong in the US, with fast-growing sales coming out of the Middle East. We are being approached by many traditional art fairs like Art Basel, British Art Fair, and Art Dubai to put on digital art displays at their events. For NFT focus, I think NFC is the best event for digital art on chain.
4. Overcoming Market Challenges
Q: What are the gaps that need to be filled to take this market to the next level?
A: The current gap lies in the ease of use and collecting. Teaching a contemporary art collector how to open a Metamask wallet, save the seed phrase, and purchase an NFT is quite challenging and a significant barrier. Art collectors want to buy the artwork and the frame in one go and display it in their homes. Platforms like Sedition are successful because they allow purchases with fiat, buying a Museframe, and easily showcasing art.
The Future of Digital Art and NFTs
Dyl also shared insights into the future trends in digital art. Bitcoin Ordinals and generative art are currently in high demand, with many customers requesting these capabilities. Companies like Sedition are leading the market due to their long-standing relationships with contemporary artists and art collectors. He predicts another significant surge for NFTs and digital art in late 2024 or early 2025.
Conclusion
The integration of digital art into traditional art events and markets is growing rapidly. As platforms improve ease of use and collectors become more familiar with digital transactions, the market for digital art and NFTs is poised for significant growth. Museframe is at the forefront of this evolution, providing innovative solutions for displaying digital art in a way that honors the artists' vision and meets collectors' expectations.
