Welcome to the nineteenth edition of the ART AS A CONSEQUENCE weekly briefing. Today, we are catching up on two weeks of content, as Zurich Art Weekend and Art Basel came in heavy. Also, reporting first hand from BTC Prague conference. All of that and more below. So, grab a snack 🍎 and happy scrolling.
Lol (lots of love),
Dimitria
Notable news from the art world 🦋✨
🍎 I had the wonderful opportunity to attend a few events at this year’s edition of Zurich Art Weekend. If you are not familiar with the ZAW concept, it happens every year (for the past 7 years) the week before Art Basel kick starts (from Friday through Sunday). This year I attended the private tour of Swiss Re and Julius Baer’s corporate collections. Also, Matt Mullican in conversation with Hans Ulrich Obrist (as Matt has this amazing exhibition at Mai 36 Galerie - a further investigation into his Glenn series and explorations connotated to VR and the metaverse, really pioneering stuff - plus his presentation at Art Basel Unlimited - wowza!) and the Gallery vs Agencies talk where Marc Spiegler raised interesting thoughts (you can watch the panel talk here).
On the Art Basel side, I visited Art Basel Unlimited and I must admit I overheard someone saying that it was limited…
In regards to the firework sales for “risk-free” works at the VIP opening on Tuesday, Zwirner sold a sunflower painting by Joan Mitchell for $20M. A work on paper by Gorksy was sold for $16M. Hauser and Wirth sold a flowerless painting by Georgia O’Keefe for $13.5M on the second day (more on the reported $$$ sales can be found here). Acquisitions for bluechip art will continue to happen but that doesn’t reflect the market.
“I hate the phrase ‘market correction’, but it’s kind of where we are. There are still significant private sales happening. Quite a few big transactions are still pushing through, but they’re all works people have been looking for, they’re well priced and the access is there.”
—Morgan Long
🍎 Moving on, the most important news in my opinion is that Sotheby’s is reported to be in the process of laying off staff (about 50 people in London and more to come in New York and remaining Europe) in order to cut costs.
🍎 The Kunsthaus Zürich faces more drama (aside from the recently announced CHF 4.5M debt), as more works have been seized from the Emil Bührle Collection due to Nazi looted provenance (BBC reported on that mess here).
🍎 What to look forward to? Rabanne partners with Art Basel for the upcoming Art Basel Miami fair where six digital artists will compete for a chance to exhibit at Rabanne’s booth ( 🤦♀️ how innovative and has not been done before... eg. by Shisheido last year). Part of Rabanne Arts Factory, that was launched in December 2023, Rabanne now supports emerging digital artists with the goal to resonate with younger generations. No comments.
🚀 🌞🌛 Rise and shine moments from the crypto space
🍎✨MAJOR✨: This week we saw Michael Saylor present 21 Rules of Bitcoin at BTC Prague. Full review on BTC Prague will be published next week.
Michael Saylor
21 Rules of Bitcoin 🤌
Those who understand Bitcoin buy Bitcoin. Those who don’t criticize Bitcoin.
Everyone is against Bitcoin before they are for it.
You know you grasp Bitcoin when you know you’ll never fully understand Bitcoin. You’ll never be done learning about Bitcoin.
Bitcoin is powered by chaos.
Bitcoin is the only game in the casino where we can all win.
Bitcoin won’t protect you if you don’t wear the armor.
Bitcoin is the one thing in the universe that you can truly own.
Everyone gets Bitcoin at the price they deserve. (legendary🤌)
Only buy Bitcoin with the money you can’t afford to lose. (as pictured)
Tickets to escape the matrix are priced in Bitcoin.
Bitcoin insight is restricted to those who need to know.
All your models will be destroyed.
The cure for the economic ill is the orange pill.
Be for Bitcoin, not against fiat.
Bitcoin is for everybody.
Learn to think in Bitcoin.
You don’t change Bitcoin; it changes you.
Laser eyes protect you from endless lies.
Respect Bitcoin, or it will make a clown out of you.
Do not sell your Bitcoin.
Spread Bitcoin with love.
🍎 Love this 💘 👇
Rekt guy (on X: OSF) is innovating in web3 by giving away shares to his new company Rekt Brands, to be claimed by his NFT holders: “In order to thank our supporters for sticking with us through the toughest of times, we are distributing a gift of equity to Rektguy holders based on a snapshot taken on 26th October 2023.”
This initiative stands out by offering holders equity in the actual company, a rarity in the industry. While tokens often symbolize network utility rather than equity, and NFTs typically do not confer IP ownership or company equity, OSF is pioneering a model where passionate art holders become stakeholders. This approach aligns supporters' interests with the company's success, potentially setting a trend for future projects to convert passive fans into active advocates. Such efforts merit commendation. Bravo 👏
🍎 Beeple announces PepeFest coming August 10th at his studio in Charlestone:
Discover the origins and cultural impact of Pepe through insightful talks, community art showcases, and live art performances. Showcase your creativity and win badass prizes. Connect with your fellow Peptopians from around the world and immerse yourself in the vibrant community of Pepe! <3
🍎 The Punks' floor price has dropped to 27 ETH as I write this at noon on Sunday. If you feel sentimental, you can watch What The Punk!, an 80-minute documentary that explores the history of the CryptoPunks. I got the link for free on Arte, but they mentioned you have to pay. I’m confused. Actually, after looking at the title again and noticing it uses an exclamation mark instead of a question mark, I guess it’s only natural to feel this way.
🍒 Bonus: Sunday Reading
Collecting the artist Beeple
An anthology on the master and his oeuvre:
🍎 Becoming Beeple
🍎 Appreciating Beeple
🍎 Collecting Beeple
By Andrew Jiang and Todd Goldberg | June 11, 2024
Make sure to read, link here
That’s all frens! 👋 toodeloo
See you next Sunday - if there is a next Sunday.
Visit artasaconsequence.net to discover more about my work in the art industry. You can contact me over email or find me on social media: Instagram | X | LinkedIn
