Author Archives: satelliteartio

Trevor Jones

FEATURE ARTIST

Trevor Jones

Graduating with an MA Fine Art (Hons) from Edinburgh College of Art Trevor has been working at the intersection of art and technology for over a decade experimenting with QR code oil paintings in 2012 and AR the following year. Investing in Bitcoin in 2017 inspired a new creative direction with the development of crypto themed AR paintings, which in turn soon led him to the fast paced and exciting world of NFTs.

READ Our Q&A with trevor jones  Below

Trevor Jones, bitcoinbull , (Detail)

What have you been up to, what have you been working on over the last year?

It’s been a busy 12 months! A few of the things I’ve been working on: The Ice Cube collaboration, the Angel’s Share (1991 Macallan cask) painting and NFT, I’ve established and quickly expanded my new company TREVORJONESART LTD, the planning of #CastleParty2022, I’m organising an Archangels rewards club for many of my collectors, and then the upcoming drops including the Steampunk AI project dropping on Coinbase NFT and an exclusive bronze cast physical sculpture and NFT. I need a holiday.

Tell us a bit about your art practice and any key themes throughout your work.

The unifying factor in my art practice is the fusion of Fine Art with Technology. Since my first experiments with QR codes I’ve sought to combine the handcrafted with digital mediums; to both celebrate the past and embrace the future. Recently I’ve been fascinated with the concept of exploring the themes associated with this practice. For example, the series of paintings for the Ice Cube collaboration incorporates AI, which raises the question as to how this technology could positively and/or negatively affect us in the future.

How did you first hear about NFTs, what did you think and when was that?

I first heard about NFTs in April 2019 at the first crypto conference I attended. Initially I didn’t understand what NFTs were and couldn’t see why I, as a traditional painter, would be interested in them. However, I followed several digital artists on Twitter, and, after watching the space rapidly expand throughout 2019, I decided to jump in at the end of the year with the EthGirl collab with Alotta Money.

What have NFTs enabled for you? (economically, creatively, community wise)

Without a doubt NFTs have completely changed my life. The successes of the past few years have provided me with the resources to grow as an artist without fear of wondering if I’ll be able to pay the bills or lose my home. To have this creative freedom, to be able to work only on the art projects that I’m truly excited about without anxiety or fear is such a privilege. 

 

As for how NFTs and my creativity, I see this digital phenomenon as a dynamic, innovative way to express my ideas and to communicate visually in new ways through animation, music, etc. Although I’d been producing short video clips for my augmented reality paintings since 2013, the notion of monetizing creative digital expressions in and of themselves was fascinating. Moreover, the collectors in this space are 100% all in on art and technology, which is such a breath of fresh air in contrast to the decade previous when I was trying to sell QR code and AR paintings at traditional galleries and there was almost zero interest in my work at that time.  

 

To have an entire community of art collectors come together around my work from all around the world, in particular, the Bitcoin Angel, is mind boggling. The possibility of this happening to me had never even crossed my mind. It’s so exciting but also, it’s a big responsibility. I want to ensure that those who place their trust in my work are rewarded. I’m always thinking about how to build on what has already been created. For example, my annual Castle Party is one way to give back to the Angel community and I’m really looking forward to the inaugural event July 30th and then every year after! It’ll be such an honour to meet people from all around the world at the castle, to talk art, NFTs, crypto and everything else…. over a wee dram, of course.

How have NFTs informed your art practice?

First and foremost, I consider myself a traditional artist, however the NFT medium and market has changed the way I look at my work, how I can manipulate it digitally, how I can present it and tell new stories, and how I can engage a new audience.

What attracted you about showcasing at Satellite?

In 1996 I strapped on a backpack to travel to Australia. It was the first time I’d left Canada. I was nervous leaving home, but this adventure turned into the best time of my life. I met the most amazing people and I’ve always wanted to go back. Unfortunately, I won’t be able to make this show but it’s still very cool to be able to show my art in the country where my journey began and where I was bitten by the travel bug. 

What are the NFTs myths you often dispel?

That minting an NFT doesn’t kill a baby seal in Canada.

What advice do you have for other artists/collectors trying to break into NFTs?

I posted a blog back in 2019 “How To Become A More Successful NFT Artist” with 75 tips. I continue to add to the list as I continue to learn. You can read it here: https://www.trevorjonesart.com/2019/12/18/artist-checklist-for-success/

Is there an NFT you’re most proud of, and why?

The Bitcoin Bull was the one that really elevated my reputation as the sale of it garnered a lot of media even outside of the NFT space. However, I’d have to go with the Bitcoin Angel as this is the artwork that has created an entire community around it and launched the Castle Party. I have a lot more projects in store as well that will become a part of the Bitcoin Angel legacy. The Angel is the artwork that changed my life completely. 

Do you have a favourite NFT in your wallet / project you idolise and why?

I’m a huge fan of Pascal Boyart’s Underground Sistine Chapel and NFTs. It’s a masterpiece on so many levels, both physical and digital. Also, anything by Alotta Money. I have a few of his works but La Peste Bleue is a personal favourite. Alotta is a creative genius!

Can you share any plans for upcoming projects?

I’m one of Coinbase NFT’s partner artists and I can’t wait to drop my AI Steampunk project inspired by Tesla, SpaceX and more. I have a very cool physical (bronze cast sculpture) and NFT that I’m working on atm, hopefully dropping in June and of course, I have the Castle Party coming up end of July!

In your crystal ball, what are your predictions for NFTs in the next 5 years?

This space moves so fast I can’t even predict what will happen next week! I just keep my head down and work away on the things that I’m excited about and that keeps me busy. 

Don’t miss seeing Trevor Jones NFTs at Satellite 2022

The first major
international NFT art
exhibition in Sydney

A month-long, digitally immersive and sensory experience Bringing together over 40 NFT artworks from leading influential Australian and international artists, in Bondi Beach this March.

EXHIBITION INFORMATION

Trevor Jones, the bitcoin angel, (Detail)

James van den Elshout

FEATURE ARTIST

James van den Elshout

James van den Elshout is a Brooklyn based Australian artist and designer. He has a hybrid focus on combining rich and detailed worlds with clean and minimal compositions. Throughout his career he has created live visuals, music videos and experiential installations with award winning creative duo, Toby & Pete, since then he has relocated to New York and is currently an Art Director with global VFX advertising studio, The Mill. While he loves the challenge of client briefs and working with a large team, his creative ambition has always been fueled by self-initiated solo passion projects, his most recent case study and film La Biblioteca de Babel is a fine example of this.

READ Our Q&A with James van den Elshout Below

Image: James van den Elshout, Aleph Room (DETAIL)

What have you been up to, what have you been working on over the last year?

I wish I had more excitement going on but the past year has all been about learning to live with the ongoing pandemic, all while gaining a better grasp of work/life balance and finding the true value in things that matter the most in life. Work wise I have had the great opportunity to art direct some incredible commercials and campaigns with the talented team over at The Mill in New York and also gearing up for more personal work in 2022.

Tell us a bit about your art practice and any key themes throughout your work?

The 3D space is at the heart of most of my work, I find it gives me the most freedom to realise whatever it is I am aiming to create. I like to think I have a bit more of a graphical approach to my subject matter and compositions but am starting to blur those lines a bit with more detailed and cinematic works. Personally I believe I am still discovering what my key themes are, I have certain aspirations and goals I am striving for but am still a little off what I am happy with.

What attracted you about showcasing at Satellite?

Getting the chance to introduce NFTs and their application in the art world to the public is a wonderful movement to be a part of. In addition, exhibiting my work among other artists that I admire and respect so much is an opportunity I couldn’t pass up.

Can you tell us more about the story and inspiration behind your Satellite submission?

‘Cerulean Cloudscape’ is an expansion and in some ways the culmination of existing techniques and ideas I have explored from previous artworks. As I thought about the type of work I wanted to exhibit, the more I wanted to create an abstract piece that would compliment the room it sits in, something that brings color, dimension and detail into the space and inspires curiosity.

Who/what are your biggest influences and where do you find your inspiration for your art?

I’ve always been inspired by video games and stories of fantasy & sci-fi, however only in the last couple of years have I felt confident enough in my abilities that I could start to explore and develop some of these worlds of my own. I’ve been re-reading The Riftwar Saga series of books by Raymond E. Feist, they are classics in the genre and have sparked countless ideas and levels of world building. Also rediscovering a childhood interest of the card game Magic: The Gathering has been a wonderful past-time during the pandemic, the card art is so rich and features such a deep world of classic fantasy themes.

Can you share any plans for upcoming projects?

I’m building towards another large body of work similar to my previous project ‘La Biblioteca de Babel’ with further exploration of world building and everything that it entails. I’ve enjoyed taking my time with projects and not feeling a need to churn out work for the sole purpose of needing to post something. Stay tuned, but I wouldn’t hold your breath!

In your crystal ball, what are your predictions for NFTs in the next 5 years?

The literal million dollar question – short answer, I have no idea! Longer answer, I believe NFTs have proven their function within the art industry, however I am curious to see how we can apply this technology to other applications so other industries can utilize and benefit from them too, such as within gaming, live music ticketing and election voting. I’m optimistic!

Don’t miss seeing James van den Elshout NFTs at Satellite 2022

The first major
international NFT art
exhibition in Sydney

A month-long, digitally immersive and sensory experience Bringing together over 40 NFT artworks from leading influential Australian and international artists, in Bondi Beach this March.

EXHIBITION INFORMATION

James van den Elshout, substractions 3, (Detail)

Tim Grove

FEATURE ARTIST

Tim Grove

Tim Grove is a Sydney artist and designer exploring visual communication and expression.

 

Stimulated by abstract and surreal art, cinema, science and architecture, Tim’s aesthetic language is compelled forward by frantic curiosity. Perpetually seeking new forms and techniques, a dedication to constant incremental improvement inform a distinct, genre and practice melding style that overwhelms the daily noise. Tim’s intention is to grip, entertain and enrapture the viewer or passer-by.

 

A versatile skillset with foundations in art direction and graphic design, he is fluent in 3D motion design, procedural art, photography and animation. This versatility is compounded by a deliberate and critical thought process, aligning strategic outcomes to a creative filter in reply to commercial and artistic briefs.

 

Tim has directed and produced projects for renowned musicians, artists and international corporations. His unique work has provided the identity, look and feel sought by agencies, brands and project managers around the world.

READ Our Q&A with time grove Below

time grove, 95 airmax (Detail)

Tell us a bit about your art practice and any key themes throughout your work?

My background is in graphic design and while learning 3D became a massive source of creative freedom for me, it’s the discoveries I’ve made when merging these two mediums that has resonated with me the most. 

What attracted you about showcasing at Satellite?

When I first started making digital art in the early 2000s, it was always a dream to find a way to have it accepted into a gallery and received with the same reverence that traditional art enjoyed. When I saw NFTs accelerate at the beginning of 2021 I started to realise that this dream was finally starting to materialise.

Can you tell us more about the story and inspiration behind your Satellite submission?

Over the holiday break of 2021 I took some time to develop new workflows. The three pieces displayed at Satellite represent some of the discoveries made during that period and are the initial voyage into a larger body of work that I’d like to develop. Each piece is a loop of bright and bold abstract graphics compiled as a digital collage and seasoned with a little bit of nostalgia.

Do you have a favourite NFT in your wallet / project you idolise and why?

It would be a close tie between Bumpy’s Self-Medication and Nic Hamilton’s submerged_stockmod. I love both.

Who/what are your biggest influences and where do you find your inspiration for your art?

Growing up I loved reading car magazines and looking at the art that came with CDs. These had a major impact on how I began to view media (especially typography) long before I had even heard of graphic design as a discipline. Adjacent to this I read books on art history, watched anime and became obsessed with science, fashion and computers.

In your crystal ball, what are your predictions for NFTs in the next 5 years?

I think the NFTs of today will mark an interesting and archival period of the technology. As AR hardware begins to integrate into our lives and many of the utilitarian benefits of NFTs are realised I expect that the use of them in day to day life will become much more commonplace. 

Don’t miss seeing Tim Grove NFTs at Satellite 2022

The first major
international NFT art
exhibition in Sydney

A month-long, digitally immersive and sensory experience Bringing together over 40 NFT artworks from leading influential Australian and international artists, in Bondi Beach this March.

EXHIBITION INFORMATION

tim grove, 95 napster (Detail)

BossLogic

FEATURE ARTIST

BossLogic

Kode Abdo, aka BossLogic, is a graphic designer and digital concept artist based in Australia who has stolen the internet’s heart with his creative fan art mashups and remixes. His artworks are passionate, powerful and pack an emotional punch.

 

What started as pure fan-art quickly gained the attention of millions around the world, including the team at Marvel, Disney and more who jumped at the opportunity to collaborate with BossLogic on a number of artworks including comic book covers, official movie posters for the likes of Avengers: Endgame, Aladdin and much more. He is now one of the most celebrated artists in the digital art space with works that transcend genres and styles, transporting us to fantastical worlds through his stunning creations.

READ Our Q&A with BOSSLOGIC Below

BOSSLOGIC, ARTWORK (Detail)

What have you been up to, what have you been working on over the last year?

I have been keeping busy, both in the entertainment world and the crypto world. Learning and being part of new tech and new ways to produce art and ways I can expand personal projects that I have been working on and utilising new ways to grow them. 

Tell us a bit about your art practice and any key themes throughout your work.

I have always worked in the realm of digital photo manipulation, digital paint or 3D to help me be more diverse when it comes to styles of my works. 

How did you first hear about NFTs, what did you think and when was that?

I heard of it from a friend, seeing him do his first ever drop at the time not knowing what a drop is but it was mind blowing, like how does one sell out of their art pieces within minutes?

 

I talked to him about it to explain it to me, I was still confused at the time so I did more research on nft’s. After that I got together with IV gallery and we did our first drop on Nifty Gateway and this whole new wave of how an artist can sell their work was just something I never seen before and I saw the potential where this can go. 

What have NFTs enabled for you? (economically, creatively, community wise)

To reach a whole new audience and new ways to create and engage with the community. I’m currently building an IP that has progressed so much since I have been in this scene and they have also got me into some art houses that I never thought possible. 

How have NFTs informed your art practice?

I try not to let different foundations change my practice, ultimately I want to bring me and what made me, me into any medium I step into.

 

I just want to adapt and evolve but still be the same base. 

What attracted you about showcasing at Satellite?

As big as I have gotten within the scene, be entertainment or crypto, Australia is my home and I feel I don’t do enough home bound shows and events and this one sparked my hype and interest. 

Can you tell us more about the story and inspiration behind your Satellite submission?

Whatever show I do, I like to bring what makes me, me to the table, to connect with the audience to get familiar with the pieces and work I do, so for the next time they see the style of work, they will remember it. 

How do you explain NFTs to someone who might not know anything about them?

I always go with the collectable logic of it, like if you own a rare comic in real life, now imagine that rare one of one comic was digital and you are the only one who owns it, it’s a super rare collectable, it just happens to be digital. 

 

This is the art take of nft where nft is not limited to just collection and you will see heavy evolution in the space. 

What advice do you have for other artists/collectors trying to break into NFTs?

Don’t change what made you the artist you are, bring what made you the artist you are today and adapt in this world. I have seen many artist change everything about them, work ethic, style, just to be part of the scene only to lose their way. Most of all. Stay enjoying what you do. 

Is there an NFT you’re most proud of, and why?

That would be the 4 horseman set, I got to create something that was always on my mind for the longest of time and it’s some of my best work.

Do you have a favourite NFT in your wallet / project you idolise and why?

I got a dope mega mutant Ape, bored Apes are a fun and quality collection and having this one is like being on top of the top!

Who/what are your biggest influences and where do you find your inspiration for your art?

I take it all in, shows, movies, music, the world, I get inspired by things indirectly to art itself, that’s why these days I take a moment to breathe, look around me and take in the wonders around us. 

Can you share any plans for upcoming projects?

All my time and energy has been building the BLU (Boss Logic Universe) and my personal IP. The story is being fleshed out, something I want to thrive in its own universe.

Can you share any plans for upcoming projects?

I honestly don’t have a clue but I’m excited. Tech moves and evolves so fast these days. 5 years in tech especially now, we could be chilling in space 😂

Don’t miss seeing BossLogic NFTs at Satellite 2022

The first major
international NFT art
exhibition in Sydney

A month-long, digitally immersive and sensory experience Bringing together over 40 NFT artworks from leading influential Australian and international artists, in Bondi Beach this March.

EXHIBITION INFORMATION

BOSS LOGIC, ARTWORK (DETAIL) ​

The Carbon Footprint of an NFT

The carbon Footprint of an NFT

With the rapid growth and uptake of NFTs in the art world, questions have been raised about the environmental impact of minting and processing these proof-of-work, blockchain-powered tokens. 

As with all blockchain technology, the computational power and processes required for token minting and processing requires large amounts of energy. 

 

As the majority of the world’s electricity is still being generated by fossil fuel sources [1], the large power consumption associated to NFTs has a direct impact on atmospheric greenhouse gas concentrations. 

 

Estimates of the NFT carbon footprint vary, however there appears to be some consensus at around 250kg.CO2-e. Memo Akten’s analysis of 18,000 NFT transactions is the most widely quoted benchmark, finding an average of 211 kg.CO2-e and a median of 155 kg.CO2-e per NFT [2].

 

The greenhouse gas (GHG) emissions associated to each stage of an NFT’s life is broken down in Figure 1. 

It is to be noted that energy used for the creation, storage and display of crypto art is not included in this footprint.

Figure 1 Estimated GHG emissions of an NFT per stage [2]. 

For Comparison Purposes

211 kg.CO2-e 

NFT carbon footprint 

200 kg.CO2-e

Delivering 10kg of traditional art from Sydney to New York by air [3].

6.7 kg.CO2-e

Delivering 10kg of traditional art from Sydney to Melbourne by road [3].

208 kg.CO2-e

Production and transport of a MacBook Pro 13″ and iPhone 12 [4, 5]. 

Recognising the environmental impact of NFTs, Satellite has committed to purchase carbon reductions to entirely offset the NFT carbon emissions associated to each item of crypto art on display.

To address the uncertain nature of NFT carbon footprints, 1 tonne of carbon reductions will be purchased per NFT, providing a buffer of 3 times its estimated carbon footprint. 

Satellite has chosen to purchase carbon credits through Carbon Neutral for this purpose. Generated from project developer Carbon Neutral’s Yarra Yarra Biodiversity Corridor.

 

To date, Carbon Neutral have planted over 30 million native mixed species, restoring over 13,000 hectares of degraded farmland in Western Australia’s wheatbelt.

References

 

[1]  Forbes, “Fossil Fuels Still Supply 84 Percent Of World Energy — And Other Eye Openers From BP’s Annual Review,” 20 June 2020. [Online]. Available: https://www.forbes.com/sites/rrapier/2020/06/20/bp-review-new-highs-in-global-energy-consumption-and-carbon-emissions-in-2019/?sh=5a7e346f66a1. [Accessed 15 July 2021].

 

[2]  M. Akten, “The Unreasonable Ecological Cost of #CryptoArt (Part 2),” 31 Dec 2020. [Online]. Available: https://memoakten.medium.com/analytics-the-unreasonable-ecological-cost-of-cryptoart-72f9066b90d. [Accessed 15 Jul 2021].

 

[3]  Department for Business, Energy & Industrial Strategy, “UK Government GHG Conversion Factors for Company Reporting,” UK Government, London, 2020.

 

[4]  Apple, “Product Environmental Report: 13-inch MacBook Pro,” Apple Inc, Cupertino, CA, USA, 2020.

 

[5]  Apple, “Product Environmental Report: iPhone 12,” Apple Inc, Cupertino, CA, USA, 2020.

 

[6]  carbonindependent.org, “Aviation,” 26 May 2021. [Online]. Available: https://www.carbonindependent.org/22.html. [Accessed 15 Jul 2021].

Curious to learn more?

Explore more topics about the evolving NFT space with us

BACK TO THE SATELLITE NFT HUB

Jessica Ticchio

FEATURE ARTIST

Jessica Ticchio

With a vision of boundless dreamscapes and gravity-defying sculptures, Jessica Ticchio is creating a world of her own.

 

Inspired by minimalism, surrealism and ubiquitous sculptural forms, Jessica’s vision is to reimagine the world through a contemporary art lens. Her work aims to evoke a sense of peace and calm, whilst bending our concept of reality; playing with the line between the real and surreal.

 

Over the years, Jessica has had work featured in exhibitions and press worldwide – including the Australian Design Centre Sydney, Crypto Portal Prague and Art Premium Magazine Paris.

READ Our Q&A with JESSICA TICCHIO Below

Jessica Ticchio, Into The Unknown (Detail)

What have you been up to, what have you been working on over the last year?

Hello! So happy to be here :~) In a nutshell, I’ve been practising art for as long as I can remember, but only in the last year or so do I feel I have really figured out my “style”. Now that I’m (finally!) here, it feels like a whole new world. I have so many sketches, ideas and collaboration concepts in my head, I’m in a constant state of excitement trying to bring them all to life!

 

Over the last year, I’ve minted NFTs across Foundation and 1stDibsNFT, created art for the beautiful Vera Blue, and have exhibited in the launch shows of both Ninety Three Bourke (new artist-run Sydney gallery) and Crypto Portal (Prague’s first NFT gallery). I created art prints for Slowdown Studio LA, and later self-released a “Lockdown Print Series” via my website to help bring some peace, calm and colour to those stuck in iso in this weird time. Although NFTs had just begun blowing up, I wanted to make sure my work was still accessible to those not yet acquainted with the metaverse. :~)

Tell us a bit about your art practice and any key themes throughout your work.

I have found myself delving more into the “experience” of art this year; reframing my art as a meditative practice itself. Sounds cliche, but my practice has brought so much clarity to my mind and become so intertwined in my daily life that it now transcends “work” and feels kind of like self-care. I heard the quote “both meditation and art require you to focus on the present moment”, which rings SO true to me. 

 

Getting in touch with nature, looking at the world more closely, taking the time to really observe and notice details in everyday life that I may have been desensitised to previously – these are all the things that inspire my art, but simultaneously help me exist in a more relaxed (and less anxious) state of being. With this said, the key themes of my art now are emulating this sense of calm, meditation and reflection for others who may benefit from it as I have.

How did you first hear about NFTs, what did you think and when was that?

I am forever grateful to Matt Vernon for my early introduction to the NFT space in 2020. Matt, as Co-Founder and Head of Design at Foundation, invited me to be a part of the platform’s launch, with 24 other incredible artists. Matt taught me how to mint, how to price and even bought my first NFT! As he explained the concept of NFTs, I recall thinking the whole thing simply sounded too good to be true! I couldn’t imagine suddenly being able to monetise a practice I had been doing for years, just for the sheer joy of it. I knew the technology was incredible, but still had no idea ‘NFT’ would become everyday language in the mainstream too. So far, NFTs have been a total gamechanger and it’s only the beginning…

What have NFTs enabled for you? (economically, creatively, community wise)

With NFTs came a newfound sense of creative freedom. For a long time, I felt caught between the worlds of art and design, without a bridge connecting the two. I love creating for brands and clients in my studio life, but creating my own art feels equally fulfilling… just in a different way. The ability to monetise my art practice (real talk) has given me the leverage I needed to be able to split my time between my love for both art and design, and my two worlds now exist in perfect harmony. :’)

How have NFTs informed your art practice?

NFTs have informed my art practice through facilitating a more personal connection between myself and my audience. Before NFTs, I didn’t feel as though I was part of the digital art community, nor did I feel my art was really having that much of an impact… But since the dawn of NFTs, I’ve been able to build relationships with collectors and followers, hearing more personal interpretations of why people gravitate towards my work. This insight has allowed me to zone more into the positive and calming feelings I’ve learnt my art can evoke – a notion that now constantly informs my practice.

What attracted you about showcasing at Satellite?

Joining the gallery space has always been an aspiration, but for a long time it seemed somewhat unobtainable in the digital art world. 3D art has been restricted to social media sharing for so long, I never thought major exhibitions dedicated to art like mine would suddenly exist, so I feel very, very lucky to be showcasing at Satellite.

 

I was also attracted to Satellite as it’s not your traditional art-on-walls exhibition. In my studio life as the Art Director of Studio Messa, I specialise in experiential design, so I’ve really appreciated being able to utilise immersive light, sound and space to create a deeper level of connection between my artwork and the viewer.

Can you tell us more about the story and inspiration behind your Satellite submission?

I’ve always been so intrigued by the concept of mirages; the mind’s ability to create a visual that plays on the line of appearing both completely impossible, yet so convincingly real… it just blows my mind! That was the key inspiration behind my “Mirage” series, but my artwork “Moonlight Horizon” also exists within this intersection – dream-like elements grounded in reality. In this piece, I‘ve attempted to visualise the abstract concept of mindfulness and meditation, interpreting an intangible notion as a physical space and exploring what that could look like.

Is there an NFT you’re most proud of, and why?

I’m most proud of my NFT “Into The Unknown” – a piece I created at the very beginning of the first Covid lockdown. Unable to leave the house, I found my mind constantly dreaming of expansive open spaces that juxtaposed my confined reality, and creating this surreal scene planted a little seed of hope in me. This NFT has become a bit of a symbolic representation of a “light at the end of the tunnel” for me in this pandemic. (Also Pat McGrath shared it on her instagram !!!)

Can you share any plans for upcoming projects?

I’m super into the crossover of digital art and the physical world (hello @ Satellite), so am VERY excited to announce I’m working with Infinite Objects on my very own artist collection! I can’t say too much more, but this year I’m planning to keep creating, minting and hopefully exhibiting more and more (HMU @ curators) so watch this space! Thanks for coming on the journey :’)

Don’t miss seeing Jessica Ticchio NFTs at Satellite 2022

The first major
international NFT art
exhibition in Sydney

A month-long, digitally immersive and sensory experience Bringing together over 40 NFT artworks from leading influential Australian and international artists, in Bondi Beach this March.

EXHIBITION INFORMATION

Jessica Ticchio, View from villa verde (Detail)

What is Ethereum?

What is Ethereum?

Ethereum, which launched in 2015, is the second-biggest cryptocurrency by market cap after Bitcoin. But unlike Bitcoin, it wasn’t created to be digital money. Instead, Ethereum’s founders set out to build a new kind of global, decentralized computing platform that takes the security and openness of blockchains and extends those attributes to a vast range of applications.  

Everything from financial tools and games to complex databases are already running on the Ethereum blockchain. And its future potential is only limited by developers’ imaginations. As the nonprofit Ethereum Foundation puts it: “Ethereum can be used to codify, decentralize, secure and trade just about anything.”

  • You can check the latest prices on Coinspot’s Ethereum asset page.
  • Ethereum has become a popular investment vehicle and store of wealth (and can be used, like Bitcoin, to send or receive value without an intermediary).
  • The Ethereum blockchain allows developers to build and run a huge variety of applications: everything from games and advanced databases to complex decentralized financial instruments — meaning that they don’t require a bank or any other institution in the middle.  (Read more: What is a blockchain?)
  • Ethereum-based apps are built using “smart contracts.” Smart contracts, like regular paper contracts, establish the terms of an arrangement between parties. But unlike an old-fashioned contract, smart contracts automatically execute when the terms are met without the need for either participating party to know who is on the other side of the deal — and without the need for any kind of intermediary. 
  • Ethereum, like Bitcoin, is an open source project that is not owned or operated by a single individual. Anyone with an internet connection can run an Ethereum node or interact with the network.
  • Much like Bitcoin’s decentralized blockchain allows any two strangers, anywhere in the world, to send or receive money without a bank in the middle, smart contracts running on Ethereum’s decentralized blockchain allow developers to build complex applications that should run exactly as programmed without downtime, censorship, fraud, or third-party interference. 

Is Ethereum secure?

ETH is currently secured by the Ethereum blockchain in much the same way Bitcoin is secured by its blockchain. A huge amount of computing power — contributed by all the computers on the network — verifies and secures every transaction, making it virtually impossible for any third party to interfere.


The fundamental ideas behind cryptocurrencies help make them safe: the systems are permissionless and the core software is open-source, meaning countless computer scientists and cryptographers have been able to examine all aspects of the networks and their security.

 

Apps running on the Ethereum blockchain, however, are only guaranteed to be as secure as their developers have made them. For example, code can sometimes contain bugs that could result in loss of funds. While their source code is also visible to all, the user bases of each individual app are much smaller than Ethereum’s as a whole, and so fewer eyes are on them. It’s important to do research on any decentralized app you plan to use.

 

The Ethereum protocol is currently being updated in ways that are intended to make it faster and even more secure. See the Ethereum 2.0 section below for more.

How does Ethereum work?

You might have heard that the Bitcoin blockchain is a lot like a bank’s ledger, or even a checkbook. It’s a running tally of every transaction made on the network going back to the very beginning — and all the computers on the network contribute their computing power towards the work of ensuring that the tally is accurate and secure. 

 

 

The Ethereum blockchain, on the other hand, is more like a computer: while it also does the work of documenting and securing transactions, it’s much more flexible than the Bitcoin blockchain. Developers can use the Ethereum blockchain to build a huge variety of tools — everything from logistics management software to games to the entire universe of DeFi applications (which span lending, borrowing, trading, and more).

 

  • Ethereum uses a ‘virtual machine’ to achieve all this, which is like a giant, global computer made up of many individual computers running the Ethereum software. Keeping all of those computers running involves investment in both hardware and electricity by participants. To cover those costs, the network uses its own Bitcoin-like cryptocurrency called Ether (or, more commonly, ETH).
  • ETH keeps the whole thing running. You interact with the Ethereum network by using ETH to pay the network to execute smart contracts. As a result, the fees paid in ETH are called “gas.”
  • Gas rates vary depending on how busy the network is. A new version of the Ethereum blockchain called Ethereum 2.0, which aims to increase efficiency, began rolling out in December 2020. (The transition to the new blockchain is scheduled to happen over the next two years.)

What is Ethereum 2.0?

Ethereum 2.0 (often referred to as ETH2) is a major upgrade to the Ethereum network. It’s designed to allow the Ethereum network to grow while increasing security, speed, and efficiency. 

 

As of early 2021, Ethereum 2.0 and Ethereum 1.0 exist side by side — but the original blockchain will eventually merge with ETH2 blockchain. (If you’re an ETH holder you won’t have to do anything — your holdings on the ETH 1.0 blockchain will automatically migrate to the ETH2 blockchain.) The transition to ETH2 began in December of 2020, and is scheduled to take two years.

 

Why is Ethereum 2.0 necessary? Moving a popular cryptoasset to a new platform is a complex endeavor, but for Ethereum to scale and evolve, it needs to happen. That’s because the “Proof of Work” method used by the ETH 1.0 blockchain to verify transactions causes bottlenecks, increases fees, and consumes substantial resources (particularly electricity).  (Read about Satellite’s commitment to sustainability)

 

What is Proof of Work?  How do cryptocurrency networks make sure that nobody spends the same money twice without a central authority like Visa or Paypal in the middle? They use a consensus mechanism. When ETH 1.0 launched, it adopted the consensus mechanism pioneered by Bitcoin: the aptly named Proof of Work. 

 

  • Proof of Work requires a huge amount of processing power, which is contributed by virtual “miners” around the world who compete to be the first to solve a time-consuming math puzzle. 
  • The winner gets to update the blockchain with the latest verified transactions, and is rewarded with a predetermined amount of ETH.  
  • This process happens every 30 seconds (compared to Bitcoin’s approximately 10-minute cadence). As traffic on the network has increased, the limitations of Proof of Work have caused bottlenecks during which fees spike unpredictably.

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How to bid on Foundation NFT marketplace

How to bid on Foundation NFT marketplace

Before placing a bid, read more about how auctions work on Foundation.

  1. Connect your wallet to Foundation. (Need help setting up your wallet? Check out our simple guide here to learn how to set up a Metamask wallet.)
  2. Make sure you have enough ETH in your wallet to place a bid and pay for gas fees. You’ll need to pay a gas fee each time you place a bid. Learn more about gas fees here.
  3. Go to the artwork page of the NFT you would like to bid on.
  4. Click “Place a bid.”

    If you place the first bid, the bid must exceed or meet the reserve price set by the creator. If the reserve price has already been met, all subsequent bids must exceed the current bid by 10% or 0.1 ETH, whichever is less.

  5. After you place a bid, your wallet will prompt you to confirm the transaction and pay a gas fee to complete the process. The funds will then be taken out of your wallet and placed in escrow in our smart contract.

    If you’re outbid, funds will be deposited back into your wallet. You will receive a notification if you are outbid and will be allowed to place another bid if the auction is still active.

Note: The exact scope of the buyer’s rights are set out in Foundation.app’s terms of service.

 

You should be aware of the risk in NFTs and cryptocurrencies, which are volatile and may lose some or all of their value. Nothing in this article is intended as advice, and you should consider seeking your own financial and taxation advice.

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What is a Crypto Wallet?

What is a crypto wallet?

Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies – safe and accessible, allowing you to send and receive cryptocurrencies like Bitcoin and Ethereum. They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps like Coinspot, which makes using crypto as easy as shopping with a credit card online.

Why are crypto wallets important?

Unlike a normal wallet, which can hold actual cash, crypto wallets technically don’t store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions. If you lose your private keys, you lose access to your money. That’s why it’s important to keep your hardware wallet safe, or use a trusted wallet provider like Coinspot.

  • Hardware wallets: Keys are stored in a thumb-drive device that is kept in a safe place and only connected to a computer when you want to use your crypto. The idea is to try to balance security and convenience.
  • Online wallets: Keys are stored in an app or other software – look for one that is protected by two-step encryption. This makes sending, receiving, and using your crypto as easy as using any online bank account, payment system, or brokerage.

Online wallets offered by a major exchange like Coinspot or widely used Ethereum based wallet provider Metamask are the simplest way to get started in crypto and offer a balance of security and easy access. (Because your private info is online, your protection against hackers is only as good as your wallet provider’s security – so make sure you look for features like two-factor verification.)

Using an app like Coinspot Wallet or Metamask gives you easy access to your crypto holdings. You can:

  • Manage all your digital assets in one secure place
  • Control your own private keys
  • Send and receive cryptocurrency to and from anywhere in the world
    Interact with usernames rather than long, hexadecimal “public key” addresses
  • Browse dapps (decentralized finance apps)
  • Shop at stores that accept cryptocurrency

See our blog post here for how to set up a Metamask wallet.

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NFT & Web3 Key Terms

NFT & Web3 Key Terms

Here’s a list of key terms used in the NFT space. It’s helpful to review before you get started!

Non-Fungible Tokens (NFTs)

Non-Fungible Tokens (NFTs) are unique digital assets that were initially available on the Ethereum network and more recently on other L1 networks. NFT’s are immune to duplication while allowing them to be owned and traded between owners of digital wallets. Examples of NFTs include art, collectibles, virtual reality items, crypto domain names, ownership records for physical assets, among many others.

 

For further information on NFTs, see our blog post here

Blockchain

A blockchain is one example of a distributed ledger architecture that mutualizes the infrastructure to facilitate the process of recording transactions and information across a network. In simple terms you can consider a blockchain as a decentralised database.

 

For further information on blockchains, see our blog post here

Ethereum / ETH 

The Ethereum blockchain is the most a popular blockchain for minting NFTs, and ETH is the single unit of exchange used to for transactions on the Ethereum network.

 

For further information on Ethereum, see our blog post here

Gas Fees

Gas fees are unique to public ledgers and are essential to incentivise the many providers of services to run and operate the networks. In the case of NFT’s, think of gas fees as a transaction charge for using the Ethereum blockchain. Gas fees vary according to demand, and are determined by the number of transactions currently being undertaken on the network (high volume, high gas fees).

 

For further information on gas fees, see our blog post here 

Crypto Wallet

A crypto wallet has many forms. Common examples include iOS Apps, or a physical hardware device for cold storage that allows individuals to store and retrieve digital items such as cryptocurrencies and NFTs. 

 

For further information on crypto wallets, see our blog post here

Wallet Address

Also known as your “public key,” a wallet address is your unique identifier. It is the “address” others will use when they are transacting with you and sending you cryptocurrencies or NFTs. 

 

 

However,  in nearly all cases (not all!) your NFTs and crypto do not technically ‘live/are held’ in your wallet but exist on public chains and are known and belong to the wallet address. Your wallet simply contains the keys to that address. 

Private Key

A string of numbers (often 256 characters long) that represents your signature to authorise transactions on the network. This is your singular private identifier to ownership of the assets on the network. Never share your private key with anyone!

Seed Phrase

Your seed phrase – also known as a “mnemonic phrase” or “secret recovery phrase” – is a list of words (usually ranging from 12-24 words) that can be used to recover your crypto should you forget your password or lose access to your wallet. 

 

You will receive or be asked to create a seed phrase to write down when you first create a crypto wallet. When you begin using your wallet, find your seed phrase and back it up somewhere safe, in multiple locations if possible. 

 

Do not store your seed phrase on an online cloud storage service and never share it with anyone.

Collection

A collection is a body of work, like a store or gallery.

Dapp (Decentralized App) 

A Dapp is a blockchain-integrated application that requires you to connect and approve all transactions with your wallet signature. Examples include OpenSea, Uniswap, and Zapper.fi. 

Smart Contract

Smart contracts are pieces of code that define rules and execute transactions on blockchains. Dapps are powered by smart contracts – they underpin the buying and selling of NFTs.

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