Forum unveils its first dedicated NFT auction

An image from Cath Simard’s EpoStory “Art Is Energy” which has a starting price of £6600.

In collaboration with Artbrain, a specialist in artificial intelligence (AI) technology, he will organize a hosted auction on thesaleroom.com of AI-generated NFT art called 1/Xrt on January 31.

Artworks are created by digital artists using Art AI’s Eponym service. Art AI, an AI-powered art gallery, launched in 2019 in Cambridge and set up its Eponym service last year which allows artists to create artwork using a text to image generator.

Forum said 40% of customers who responded to its recent survey wanted to know more about digital art and NFTs (non-fungible tokens, units of data stored on a digital ledger, called blockchain, that can be sold and traded ).

Stephan Ludwig, CEO of Forum Auctions, said GTA“We are committed to continuing with the opportunity to educate our clientele about NFTs and digital art. Together with our partners at Artbrain and Art AI, we are exploring the growing importance of digital creations on the art market in the broad sense.

“Listening to and observing the artists behind the works confirms to me that these works absolutely have an artistic substance. While the concept of buying purely digital art stories is a new concept, buying new wave artists is centuries old.

The works of art in the Forum auction are made using algorithms. The artist creates an “EpoStory” – the name of a group of images and titles telling an ongoing visual story by the artist residing on an NFT.

There are 20 of these EpoStories offered for auction.

Among the artists is Canadian-born photographer and digital artist Cath Simard. Its called EpoStory art is energy includes four layers (images and title). It has a starting price of £6600.

Forum started working with Artbrain in 2018 on AI marketing and developed social media marketing campaigns with them. They started developing the NFT auction project last fall.

Ludwig said Forum emphasizes the educational element of the sale and promotes an online workshop for potential buyers to learn more from NFT and blockchain specialists as well as the collection curator and of some artists. Those interested can register before the sale via https://atg.news/NFTworkshop. The workshop will take place on January 19 at 6 p.m. with auction then opening at 7:30 p.m. A preview of the works will be available two days earlier and the auction will end from 5 p.m. on January 31.

Increased education and confidence

Asher Ben-Saadon, CEO and Founder of Artbrain, said, “We appreciate the need for increased education and confidence in the evolving digital art market and crypto regulations and aim to help collectors and auctioneers to overcome the underlying conceptual and technical mysteries. digital art.”

EpoStories are created using the Ethereum network and saved on the blockchain. Although the auction takes place with bidding in sterling, those who wish to pay for their purchases in the Ether cryptocurrency can do so. The current exchange rate will be used when paying.

The auction will charge a buyer’s premium, but there will be no additional online premium payable for winning bidders.

Buyers of EpoStory NFTs have full commercial rights, access to high definition versions of all images suitable for fine art prints, and the ability to edit and add more to the story. Access to future Eponym projects and an upcoming token are also among the benefits of ownership.

The world’s largest auction houses Christie’s and Sotheby’s have already held a number of auction formats for the sale of NFTs and last year German auction house Van Ham held an auction of NFTs from works of British photographer Gavin Evans.

At the time, Van Ham managing partner Markus Eisenbeis said, “Photography is already a digital medium – NFT certification is a logical continuation of this art form.”

For more information, visit www.artbrain.ai/NFT or www.forumauctions.co.uk

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