Hologram company Looking Glass Factory has announced a collaboration with musician Reggie Watts and electronic band Panther Modern to create a hologram crypto art piece to be auctioned through Zora on March 11 called “The NonCompliance of Being.”
The crypto art market is exploding, with non-fungible tokens (NFT) becoming a commonplace term. According to Looking Glass Factory, the popularity of the format is a long time coming.
“Artists have been experimenting with digital art, blockchain technologies, and cryptocurrency since 2011, while collectibles have existed far longer,” the company says. “Crypto art blends all of these trends to create a decentralized collectibles marketplace that artists can use to securely sell their works and build their communities. To highlight its growing popularity, the net artist known as Beeple recently sold 20 of his digital works for $3.5 million.”
The popularity of Beeple’s NFTs did not stop there, as his purely digital collection called “The First 5000 Days” is currently bidding for $3.75 million on Christie’s with — at the time of publication — three days remaining in the auction.
Looking Glass Factory, the company behind the Looking Glass Portrait digital frame, argues that there are unfortunate limitations to what can be done with digital art for those that do acquire it along with an NFT.
“Fans of crypto art are left to experience their artwork on 2D screens, even though some of that art was created in 3D and was designed to be enjoyed that way,” the company says. “That is where this collaborative project differs. The Looking Glass Portrait display is not only the world’s most advanced holographic display, but its small form factor makes it the most personal and portable. With this project, fans of crypto art will not only get to purchase a unique piece of art — they will get to experience it in 3D as a hologram on the latest in holographic technology. And because the display has an audio out, fans of Panther Modern, Reggie Watts, and electronic music will be able to enjoy the art alongside the music.”
Looking Glass Factory points out that Reggie Watts has a history of experimenting with the latest technologies in his projects. He worked with Intel Studios to create his volumetric 3D music video Runnin’ in 2019, which could be viewed in VR and on Looking Glass’s holographic displays. So while creating a piece of crypto art might be new, the general concept of pushing the boundaries between art and tech is not.
The listing for the artwork is not yet live, but you can view “The NonCompliance of Being” here.
While the crypto art scene is currently on the rise, some investors warn that the inflating market could signal a price bubble and caution that as is the case with many new niche investment areas, there is a major risk for loss if the hype were to die down. Additionally, these experts warn that it is a prime market for fraud as many participants operate under assumed names.