News Rare Art Festival Canceled Following Crypto Market Crash

Rare Art Festival Canceled Following Crypto Market Crash

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Rare Art Festival Canceled Following Crypto Market Crash

Rare Art Festival Canceled Following Crypto Market Crash

Tommy Nicholas, adviser to the R.A.R.E. digital art platform project, let slip on Discord that the Rare Art Festival, an annual blockchain art event, won’t be happening this year. Where does blockchain art go from here?

Also read: New Dawn: Treasury Dept. Levies Bitcoin Address Sanctions

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Rare Art Festival Off By the Looks of It

The Rare Art Festival, or Rare AF, was a pioneering showcase of blockchain art and digital collectibles held in New York, and the site of a record-setting live Rare Pepe auction block last year.

From its start, the event was billed as a way of changing minds about blockchain and digital art.

A lot has happened since then, though — chiefly the latest massive market correction and ensuing public disillusionment with cryptocurrency and related technologies.

Rare Art Festival
Tommy’s announcement. Image via Discord.

Joe Looney, developer of the Rare Pepe Wallet and an active figure in the world of blockchain collectibles, confirmed Tommy Nicholas’s November 30th announcement on Twitter, saying that he, along with the other Rare AF organizers, simply don’t have the time and resources to pull together another festival:

This news comes on the heels of a series of recent market contractions that have lowered the bitcoin price to levels not seen in over a year.

One has to wonder if these conditions, combined with a lack of popular interest in the subject, also played a part in Rare AF’s’s cancellation.

Enthusiasm Lost?

The blockchain digital art scene has had its share of internal problems, too.

Platforms like Counterparty have become insular and somewhat stagnant in the recent past, and even newer, more purpose-built ones lack a lot of features artists find essential regarding sales and rights management.

The first notable example of content access being directly tied to an asset emerged only weeks ago with the addition of private music access for owners of the DJ PEPE card in Rare Pepe Wallet.

A lack of compelling features and public enthusiasm means the future of blockchain art is adrift, and the cancellation of Rare AF, the flagship event for this blockchain use case, may well be an omen of things to come in the world of cryptoart.

Bitsonline will continue to track the scene in the interim.

What’s your take? Have you had any brushes with blockchain art? Let us know in the comments section below. 


Images via Discord, Pixabay



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