The Foundation for Art and Blockchain (FAB) has launched FAB DAO, a Decentralized Autonomous Organization that aims to merge art and technology in the Web 3 space through blockchain technology. The new collector platform seeks to expand the reach and potential of FAB’s mission. Additionally, it will leverage blockchain technology’s power to democratize art patronage, enabling a more diverse range of voices to contribute to the art world’s evolution. The organization also announced the launch of its inaugural drop, titled “Giving Shape,” which will be an edition of 300 generative NFTs by artist ippsketch.
The Concept of DAO
At the heart of FAB DAO is the concept of Decentralized Autonomous Organization (DAO). DAO is a new way of organizing and governing communities built on blockchain technology. It allows for decentralized decision-making, where members of the community can vote on important decisions such as funding, governance, and direction of the organization. DAO democratizes the art patronage process, leading to a more diverse range of voices contributing to the evolution of the art world. It also enables the support of a wider array of artists and projects.
FAB DAO’s Unique Approach
FAB DAO differs from other DAOs in that collectors operate as patrons of the art they love. Funds raised through art sales go into a pool, and then buyers can sponsor and vote on projects or artists they would like to support with that money. Rather than a small cohort of board members deciding on how to hand out grants, the broad collective is responsible for coordinated decision-making around which art to support financially. This approach puts the power directly into the hands of the individuals most invested in the work.
The Inaugural Drop “Giving Shape”
The inaugural drop, “Giving Shape,” is a generative edition of 300 NFTs by artist ippsketch, featuring complex geometric shapes and graphic patterns. The artist used the programming language JavaScript, which is a language used by web browsers along with html and css. This allows the art to be generated and drawn by a browser like Chrome or Safari. The collection is powered by Art Blocks Engine, a technology provided by Art Blocks for generative NFT development on platforms other than its own.
The visual outputs of “Giving Shape” draw upon the art historical definitions of abstraction and minimalism and are influenced by artists such as Sol Lewitt. The use of code to generate the art creates a unique and ever-changing visual experience, as each output is determined by the code. This creates a connection between the viewer and the artwork, as each viewing is unique and cannot be replicated.
FAB DAO’s launch and the “Giving Shape” NFT drop are exciting new developments in the art world. FAB DAO democratizes the art patronage process, allowing for a more diverse range of voices to contribute to the evolution of the art world. It fosters a more inclusive and diverse environment that transcends geographical and financial boundaries. In doing so, the FAB DAO nurtures a thriving global ecosystem of artists and patrons, unlocking the potential for unprecedented levels of creativity and innovation. The FAB DAO has the power to reshape the landscape of the art world and usher in a new era of artistic expression and discovery, unencumbered by the constraints of the past.
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