Top NFT Articles and Essays Compendium

We have also included forward-thinking investment theses from leading experts that have since proven prescient, providing valuable lessons for those considering the long-term potential of NFTs as a transformative digital asset class. Whether you're interested in the creative possibilities unlocked by on-chain generative art, the economics of NFT marketplaces, or the stories of early adopters who shaped the space, this collection offers a comprehensive overview of key ideas shaping the future of NFTs!

What is CryptoArt? January 19, 2018 / Jason Bailey (Artnome)

Jason Bailey defines CryptoArt in this seminal piece as a blockchain-based digital art movement where unique artworks are created, bought, and sold as provably rare tokens. Key aspects include:

• Digital scarcity allowing artworks to be traded like physical items
• Open, democratic, and globally accessible to all artists
• Emphasizes creative expression ("dankness") over traditional artistic standards
• Empowers artists through minimal commissions and direct sales
• Growing market value demonstrated by significant sales

According to Bailey, this movement represents a fundamental shift in digital art ownership and trading through blockchain technology.

The Non-Fungible Token Bible: Everything you need to know about NFTs January 10, 2020 / Devin Finzer

This article serves as a comprehensive overview of the NFT ecosystem's technical foundations, historical development, and market dynamics up to early 2020, before the major NFT boom of 2021. It traces back the history of NFTs to early experiments with Colored Coins and Rare Pepes before 2017. According to Finzer, the watershed moment came with CryptoKitties in 2017, which brought NFTs into mainstream consciousness. The following years (2018-2019) saw the emergence of robust infrastructure, which eventually lead to enhanced minting accessibility by 2020.

CryptoPunks: Digital Collectibles as Stores of Value October 04, 2020 / Cryptodiario, Foobazzler and Alex Gausman

This article explores the potential of digital collectibles as stores of value, focusing on why CryptoPunks are particularly well-suited for this role. The authors examine the historical development of the Store of Value (SoV) concept and its significance as a key narrative shaping cryptocurrency markets. The estimated market cap of Cryptopunks at the time of writing was approximately $40 million, and authors suggest significant growth potential, projecting possible 100x gains within 5 years (they ended up being right with their valuation, but it would take less than a year instead of five years, to reach that target).

The Fat CryptoPunks Thesis February 21, 2021 / Ben Roy

Another investment thesis focused on CryptoPunks as Store of Value, Ben Roy argues that Punks, as a pioneering NFT collection on Ethereum, will capture more value than any other digital art as the NFT market grows. He compares owning a CryptoPunk to owning rare fine art, where value comes from verifiable ownership. With only 10,000 punks, their limited supply and cultural significance make them highly valuable. Roy predicts that both wealthy investors and smaller collectors, aided by fractional ownership platforms, will drive more capital into CryptoPunks, leading to significant value growth in the coming years.

The Rise of Long-Form Generative Art August 5, 2021 / Tyler Hobbs

Tyler Hobbs' essay, "The Rise of Long-Form Generative Art," explores the evolution of generative art with the advent of blockchain technology. While generative art has existed since the 1960s, new on-chain platforms like Art Blocks are shifting the artistic process by removing traditional curation and greatly expanding the number of outputs. In the past, generative artists curated a small selection of outputs, but long-form generative art scripts now produce hundreds or thousands of outputs directly to collectors as NFTs, making every iteration visible. This shift challenges artists to design algorithms that produce consistently high-quality and varied results. Success in long-form generative art is judged by the average quality, worst outputs, and overall coherence of the collection, marking a new and exciting phase for generative art.

Storing Value in Digital Objects February 16, 2023 / Derek Edwards

Edwards explores how digital objects store value in today's attention-driven economy. Three key paths to value creation are identified: inherent merits, creator association, and established economic frameworks. Blockchain technology enables digital objects to have advantages like easy trading, provenance tracking, and global accessibility. These objects fall into two categories: Products/Services (requiring ongoing support and having many dependencies) and Stores of Value (more independent and durable, similar to gold or art). The article predicts a major shift from physical to digital assets, with blockchain becoming the standard recording system for all types of value. Success of digital objects depends on their asset sovereignty, content durability, and ability to maintain value independently of creator support.

Art After NFTs November 6, 2023 / Alex Estorick

The essay "Art After NFTs" discusses how NFTs have transformed the relationship between art and money, empowering digital creators while disrupting traditional art categories. Although blockchain is valued for its transparency, NFTs are often viewed with skepticism. However, they have democratized digital art, creating new opportunities for generative and computer artists to monetize their work. NFTs blur the line between artistic and commodity value, pushing artists to engage with financial aspects of Web3. Despite the challenges, NFTs offer a glimpse into a new future for art and culture, shaping new markets and creative possibilities.

Can Art Replace Religion? August 5, 2024 / Peter Bauman (Monk Antony)

The article "Can Art Replace Religion?" explores the idea that art might fulfill roles traditionally served by religion in an increasingly secular and digital world. As religious affiliation declines globally, particularly in the West, technology and randomness have emerged as modern "gods," guiding how people find answers and meaning. Technology, particularly the internet and AI, serves as an all-knowing source, while randomness, as seen through scientific principles like evolution, explains much of existence. These forces are deeply intertwined with modern life, but their rise leaves a gap in areas once addressed by religion, such as social cohesion, comfort in crisis, meaning, and attention to inner experience. The article suggests that art, especially digital and generative art, could help fill this void.