Brandon Donnelly

Daily insights for city builders, delivered every morning at 6 AM ET. I’m Brandon Donnelly — a Toronto-based real estate developer and founder of Globizen. I’ve been writing here since 2013.

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Tag: NFT art

  • Schematic design phase complete for Parkview Mountain House

    Some of you may be aware that Globizen is working on a new project in Park City, Utah right now called the Parkview Mountain House.

    It was first announced on the Globizen Journal back in the summer and then a later announcement was made appointing New York-based Mattaforma as the project architect. It’s kind of a great story because Mattaforma is a relatively new firm that was formed by two architects who used to be at Studio Gang. So we have a long history of working together.

    The vision for the project is a creative retreat in the mountains. A place to unplug, be active, and hopefully a place to foster creative expression, whatever that may be for you. It was inspired by the trip that I have been making to the mountains each year where we try and do exactly this. It’s one of my favorite times of the year and one that I look forward to the minute the last one is over.

    The team has just finished the schematic design phase for the house (see above axonometric). And we are now working through some of the structural and geotechnical issues that come with building in the mountains on very steep terrain.

    To give you all one example, we had initially contemplated large multi-storey retaining walls to hold back the earth and embed the house into the side of the mountain. But that is now being changed to a stepped foundation that minimizes the amount of excavation and reduces each retaining wall to no more than a single storey. This move will also result in more wood and less concrete. It has been a fun learning process.

    The creative retreat concept has also been evolving and we recently decided to make digital NFT art an integral part of the experience. We have a few collections that we have been stocking up on, but if any of you have any recommendations we are, of course, all ears.

    Once the floor plans have been finalized, they’ll be posted up on the Globizen Journal. So make sure to e-mail subscribe and follow along on Instagram at @parkviewhousepc.

  • NFTs and real estate

    I have started using my NFT collection as a rotating face on my Apple Watch. The one you see below is a Cool Bean, but I have many others in the gallery. Lately, I have been gravitating towards NFTs on the Solana blockchain because of how fast and cheap it is to transact. Though I am still much longer with ETH.

    This is all pretty geeky stuff, but it reminded me just how early we are when it comes to web3. NFT art has exploded over the last year, but the broader ecosystem is still getting built out. We are all going to want mediums in which to display and experience this new form of art. And as soon as that happens, I suspect they won’t be thought of as “just JPEGs” anymore.

    (One of the nicest digital art displays that I have seen is the MONO X7. It’s currently available for pre-order but I haven’t yet pulled the trigger.)

    On a related note, I follow a human on Twitter who goes by 6529, because that is the Cryptopunk number that she/he owns. 6529 is incredibly bullish on crypto and NFTs, and tends to write long and insightful threads about it. One of the most recent ones is about real estate and I think that many of you will find it a worthwhile read.

    What I particularly like about it is that it reminds us that so much of what we consider to be normal and the status quo is actually just a construct that people before us created. Usually it’s not perfect and there are many inherent flaws, but it’s the best that could be done at the time. That or it just worked.

    And because it’s the way it’s been “always done”, it just recedes into the background and most of us don’t give it much thought. Of course, so much of entrepreneurship is about questioning the status quo and doing things differently. Why this way? Could it be better? And it’s precisely during these moments of change where lots of value is created.

  • There is no effort without error and shortcoming

    I had a blog post planned out in my mind for today. I was going to write about how the Penthouse Collection launch went this evening at One Delisle (our new website just went live), and the digital NFT art (by Petra Cortright) that we commissioned to accompany each of the 8 penthouse residences.

    But then my partner Lucas Manuel sent out the below quote by Theodore Roosevelt in one of our group chats and it derailed everything. I think it’s imperative that it gets reshared here immediately:

    It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

    There is no effort without error and shortcoming. But in the worst of cases, that means failing while daring greatly. Because failing while daring greatly is better than not daring at all. These are words to live by. And I would like to think that our team’s efforts to bring digital NFT art to Toronto’s condominium market is daring on some level.

    What is clear to me after speaking with a lot of people this evening is that most people don’t know what an NFT is and they don’t know how this all works. But at the same time, they recognize that real and meaningful change is underway. (I was on Global TV this evening trying to explain this stuff.)

    We may be the first (at least here in Toronto), but I would put money on the fact that we won’t be the last developer to incorporate NFTs into their projects. And that’s a good thing. We should all be building on top of each other’s work. Let’s dare greatly.

  • Louis Vuitton, Frank Gehry, the Impressionists, and NFT art

    La Foundation Louis Vuitton (which is housed in a building designed by Frank Gehry) has an exhibition on right now that displays the art collection of two brothers: Mikhaïl Abramovitch Morozov (1870-1903) et Ivan Abramovitch Morozov (1871-1921). The collection contains mostly early modernist work from the late 19th century and includes pieces by Cézanne, Van Gogh, Renoir, Monet, Matisse, Picasso, as well as others, including some Russian avant-garde work. We went through the exhibition last week when we were in Paris. Partially to see the collection and partially to see the architecture, which is, you know, very Frank Gehry. See above photo.

    As I was going through the exhibition I was reminded of how much I like the Impressionist movement. I like the work, but I also really love the story. The Impressionist movement started in Paris in the late 1800s and many consider it to mark the beginning of modern art. It broke free of tradition and violated the rules of what was considered to be proper art work at the time in France.

    Because of this, the Impressionists were heavily criticized at the outset. So much so that they were routinely rejected from exhibiting in the traditionally accepted art venues in Paris. The annual Salon de Paris was the big and most prestigious one as I understand it. This forced the group to organize their own exhibitions and circumvent the incumbents in order to get their work out into the world, which is pretty much what any “startup” has to do. Obviously the rest is history and now people to go to museums like La Foundation Louis Vuitton to look at Impressionist art work and talk amongst their friends about how we don’t make art like they used to back in the late 19th century.

    I mention all of this because of what is happening today in the world of NFTs. Non-fungible tokens and their application to digital art feels to me like history is repeating itself. We are at the dawn of something new and a lot of people seem to think that what’s happening today is pretty stupid: Why pay thousands or even millions for a JPEG? I can just download a copy to my computer for free. This is not art. How do you even display it? I don’t get it.

    I am sure that most of the NFTs that people are buying today will go to $0 in value; just like a lot of the paint that has gone onto canvasses over the years hasn’t created much value. Art is a funny thing. But that doesn’t mean that cultural value will not be created over time. When people are talking and they think what you’re doing is dumb, you may actually be on to something. The Impressionists taught us this important lesson well over a century ago.

    Photo: La Foundation Louis Vuitton

  • The Petra Cortright NFT Collection at One Delisle

    My two week photo blogging experiment has come to an end. We are now back in Toronto. France was incredible, and I thoroughly enjoyed practicing my French and messing up which nouns are masculine and feminine. Expect some follow-up posts in the coming week(s). I was jotting down notes throughout the trip.

    I must say that the experience of getting back to Canada was far easier than I was expecting. Besides having to run around to a few different places for our PCR tests (sante.fr gave us some addresses that wouldn’t take us), it was relatively painless.

    I am now swimming through my inbox (butterfly stroke kind of thing). There’s a lot to catch up on and a lot that I want to write about. But here’s something pretty special. Today I am excited to share that Slate Asset Management just announced an NFT digital art collection by Los Angeles-based artist Petra Cortright.

    The collection consists of 8 works of digital art that are exclusive to each of the 8 penthouse residences at One Delisle (1/1). We believe that this is one of if not the first example of this — NFTs being commissioned by a developer for future condominium residents.

    Since the beginning, we have wanted to make One Delisle a “project of firsts.” We wanted to create something remarkable and usually that means you have to do something for the first time. We are fortunate to have been able to partner with Studio Gang for both the architecture of the building and its interiors.

    The Petra Cortright NFT Collection is the next step in this commitment to new ideas. And on October 6th the team will be revealing both the One Delisle Penthouse Collection and hosting a one-time gallery viewing of the eight digital art pieces. If you would like to attend here in Toronto, please send an email to info@onedelisle.com.

    For more information about what all of this means (including a bit about NFTs), here’s the full press release from earlier today.

  • Meatspace vs. metaverse — what is the best way to flex?

    With every passing year, the Matrix feels less and less like science fiction. With the continued rise of the metaverse — Zuckerberg is betting all of Facebook on it — we are increasingly living our lives between two worlds: one is offline and one is online. What this will ultimately mean (for us and for our cities) is of course up for debate. But what is clear is that the traditional trappings of real life have quickly made their way online into the metaverse. Arthur Hayes recently penned this fantastic article about the future of the world (it’s the metaverse) and the role of art (including NFT art). In it, he makes the argument that to “flex” is integral to the human experience. Here’s what he means by that:

    As social beings, the sole purpose of many activities and purchases is to publicly display how much energy you can waste. The nightclub economy is extremely a propos to this concept. Individuals walk into a dark room, listen to loud music (art), dance (a waste of energy akin to a mating call), and pay exorbitant amounts of money to drink liquid. Everyone gets dressed up real nice in articles of clothing that serve no useful purpose other than to demonstrate that the wearer spent a lot of money to display their social status to the rest of the clubbers present.

    People go to clubs to flex. In the words of the late Clayton Christensen, that is the “job” to be done.

    Why this matters is that many of us are now doing the same kind of things online. Buying a CryptoPunk (an OG NFT) for a large sum of money and posting it as your social media profile pic is a flex. Is this rational or irrational behaviour? Whatever your answer, it is akin to paying several hundred dollars for a t-shirt from some cool streetwear brand. The real job to be done is not that you desperately need a t-shirt to cover your upper torso. It is the signalling that goes along with owning something scarce and valuable. One of the things that is so special about NFT-permissioned stuff is that there’s now a simple way to prove and enforce all of these things: ownership, scarcity, and so on.

    What’s equally fascinating to me is how offline and online will end up interacting with each other. (Arthur refers to our offline world as the meatspace. I don’t know if he coined the term, but I’m going to rolling with it for the purposes of this post.) If people end up preferring to flex online instead of offline (and I’m sure many already do), what does that do to our meatspace(s)? And what does it do to our cities and how we build? I have no doubt that these questions are coming.

    Photo by Richard Horvath on Unsplash