Tag: nft photography

• Blockchain applications in real estate

  I opened up X this afternoon and I saw a photographer tweet that he hadn’t sold a single NFT in the last four months. His conclusion: The NFT market is dying, if not already dead. There are no collectors left. Damn.

  I’m sure it probably feels this way to most. But the reality is that there are a lot of asset classes that feel this exact same way today. (I know that many of you will contest whether NFTs are actually an asset class.) There aren’t a lot of buyers out there right now.

  But that doesn’t necessarily mean that the NFT market, in particular, is done with. In fact, if you look around, there are countless signs that point to the opposite.

  I, for example, find it interesting that if you’re an architect or a city planner in the US, and looking to check off some continuing education units, you can now register for a course at Harvard called From Crypto to the Metaverse: Blockchain Applications in Real Estate.

  And if you look at the learning objectives, it includes things like demystifying how Blockchain technologies work, how they might impact real estate businesses in the future, and what opportunities they may create. This suggests we’re still early.

  Right now just feels like that time in the cycle that tests both your conviction and your discipline. It’s easy to believe in something when everyone else does. But what about when most people don’t?

  2023.12.17

• Nobody wants to collect NFTs anymore

  

  Back when everyone wanted to buy and trade crypto, my friend Evgeny started a marketplace for NFT photography called Sloika. This, to me, felt like an obviously good idea, both in general and for him specifically. Evgeny had previously cofounded the photo company 500px, and so Sloika was initially conceived of as 500px, but for web3. This is a good story.

  I have collected a number of photos via Sloika and, in general, I continue to regularly collect NFTs. Of course today, relatively few people want to trade and collect NFTs. The market is largely dead. What is obvious is that there was a giant NFT bubble and it popped in 2022, along with some other asset bubbles.

  But does this necessarily mean that NFTs and NFT art are bad ideas?

  When I think of bubbles I often think of something that Fred Wilson wrote on his blog. His argument was that bubbles tend to be directionally right; it’s the magnitude that we get wrong. A good example of this is the dot com bubble. Yes, it was a massive bubble. But it was directionally right. The internet was going to matter — a lot it turns out.

  Even if we go back to “tulip mania” during the Dutch Golden Age — which is often brought up as the pinnacle of dumb bubbles — one could argue that it was still directionally right. Today, tulips remain the most sold flower in the US. So we still love them; we just got a little too excited back in the 17the century.

  When it comes to NFT art, I like to think in terms of these questions:

  • Will humans continue to appreciate art? (Seems obvious.)
  • Will humans continue to want to collect things? (This is arguably a fundamental human instinct.)
  • Will provenance and authenticity continue to matter in art? (Blockchain technologies are really good at this.)

  Perhaps the only question that remains is whether people will want to collect digital art. But even this feels fairly obvious to me. The challenge, I think, is that the display side of the market needs to be more built out. Because alongside the instinct to collect things is the instinct to display them. That’s why NFTs initially took off as profile pics on social media.

  So as a start, I think more, better, and cheaper displays would be a big help. There’s something very different about projecting an NFT in your living room versus having it live in a crypto wallet on your phone or computer. You need to really experience it, just as you would a conventional piece of art. And like all art, context matters.

  I haven’t yet invested in a dedicated NFT display, but I plan to do that in the near future. And I’m looking forward to displaying my collection of NFTs, including the one at the top of this post. It’s a drone shot of the west side of Toronto in the middle of winter, and it was gifted to me by Evgeny. Thank you for that. It’s an honor to have it as part of my art collection.

  Photo: Six Bling (via SuperRare)

  2023.09.07

• Coastline villages

  

  I recently collected two NFTs from aerial photographer Vitor Esteves. I purchased one of Menton, France and one of Las Negras, Spain (pictured above). Both are from his 1/1 Coastline Villages collection on Sloika. I know that NFTs aren’t nearly as popular as they were last year, but that is exactly why now is a great time to be collecting. Talented artists continue to create, but ETH gas fees have come way down (a few dollars versus sometimes over a hundred at the peak) and there is now far less competition out there. It is no different than trying to buy great real estate when the rest of the market is sleeping.

  At some point, I’m going to need to pull the trigger on a good NFT display. I’ve been contemplating a Tokenframe, but I also think that most TVs are going to appropriate this function pretty soon. Some already have.

  2022.09.11

• A few observations about Salt Lake City

  Utah is beautiful. See here.

  People in SLC are really nice. Strangers greet you on the street. Motorists are also more polite and patient. I had no idea how to respond. I suspect it might have something to do with there being less traffic and, in turn, less frustration. But again, even if you ignore what happens on the road, people are nice.

  You will need a serious utility vehicle to navigate the topography of this region. Venturing into the surrounding canyons requires 4-wheel drive or chains during snowstorms. I was only there for a week and already I have visions of a classic Defender in my mind. Do they come in electric versions?

  The streets are too wide for proper enjoyment as a pedestrian. This is a challenging problem to fix, as I have mentioned before. That said — and this is going to be an unpopular opinion — the city felt void of any sort of real traffic. The distances travelled are great, but the highways actually flow freely. You also never really need to worry about parking.

  Electric scooters are popular in SLC. As is cycling — both for getting around and as a reason to wear tight-fitting bright clothes.

  SLC feels as if it is both under the radar and also rapidly emerging. My new favorite restaurant in SLC is a place called Post Office Place. We walked in without a reservation on a Friday night and they gladly took us. I couldn’t understand why the place wasn’t rammed. I mean, they have Marseille-style panisse on the menu!

  The Granary District is an area to watch. It is a former industrial area to the southwest of downtown. It is already home to breweries, food halls, and creative offices. But it needs some more time to properly fill in. We stayed at the Evo Hotel in Granary (highly recommend). The campus amenities include a rock climbing facility, an indoor skatepark, and plenty of places to work and Zoom.

  Most of the new infill housing appears to be mid-rise in scale and most of it is wood-frame construction on top of concrete.

  By my estimation (and by estimation I mean that I have a spreadsheet for this), the ski and snowboard communities surrounding SLC are some of the most accessible in North America. Land at SLC airport and you’re in the mountains in 20-30 minutes.

  Park City-Canyons is the most well-known ski destination. But if you’re a more aggressive skier — the kind that keeps your gloves together with duct tape and counts the number of ski days per season — you’ll want to head over to the Cottonwood canyons and places like Snowbird and Brighton.

  Snowbird remains one of my all-time favorite ski destinations for two reasons: the mountain itself and the brutalist architecture at the bottom of it. There’s none of that faux alpine crap over here — just exposed and unabashed concrete and wood. And who doesn’t love brutalism, right? (I haven’t been to Brighton yet but one of my local friends told me that it’s a great snowboarders mountain.)

  The Canyons Village at Park City is developing really nicely. As I understand it, it’s only about 30-40% built out at this stage. The Pendry Hotel just recently opened (announcement here) and I can tell you that the restaurants were generally busy every night of the week (summer experience). The project team did a wonderful job creating a place and a new anchor in the village.

  What did I miss in this list?

  2022.09.07

• New NFT collection — Utah

  

  

  Our week of working remotely in the mountains of Utah has come to an end. Being on mountain time meant early mornings every day. But it also meant being able to enjoy the evenings, including sunsets like the one shown here at the top of Ensign Peak. This was my first time really experiencing the Salt Lake City area in the summer, and I’m grateful for the opportunity. It is a beautiful place, and one that still feels under the radar once you exclude its global draw as a ski and snowboard destination. I also had a great time capturing it on my camera. So I’m excited to share my latest NFT photography collection — Utah. All of the photos were taken on my Fujifilm X-T3 (35mm) and can be viewed and purchased over here on Foundation.

  2022.09.05

• Who cares if there’s an NFT bubble?

  

  The Financial Times recently reported on “the great NFT sell-off” here in this article. Daily trading volumes on OpenSea, which is the largest NFT marketplace, are down 80% ($50M) from their high in February ($248M). Bored Ape Yacht Club, which is the most expensive NFT collection out there, has seen its average daily price come down by about a third (see above). Of course, they still remain extremely valuable NFTs. And a recent CryptoPunks auction was just pulled from Sotheby’s so that the owner could “HODL” until things recover.

  I don’t think any of this should surprise both NFT holders and the naysayers. This is a high-risk space and it is all very speculative. You can’t run a discounted cash flow (DCF) model on a Bored Ape and most other NFTs (though some might actually produce cash flow through, for example, secondary sale royalties). The more important point of all of this is that we are living through what many people believe is the creation of a new kind of internet. Cryptocurrencies are what underpin these new digital economies, but we are still figuring out how they will function and what their long-term business models will be.

  For me, this is an exciting thing to be a part of. I’m not a venture capitalist, but buying NFTs and doing other crypto things feels a bit like I am an amateur one. Holding ETH or SOL is similar to holding Canadian or US dollars (currencies that underpin economies). So what I am doing is using these currencies to put money into ventures (NFTs) that seem interesting. And to do that, you look at the art, the team behind the project, the roadmap, and how well they appear to be executing against that plan. Indeed, many of the most successful NFT projects are naturally run by teams who are constantly building and shipping.

  At the same time, I mentally write off every NFT I buy to $0 as soon as I purchase it. I am also limiting my total crypto allocation to between 5-10% of my non-real estate investments and buying with a scheduled dollar-cost averaging approach. So if this whole web3 thing went to zero tomorrow (which I firmly do not believe will be the case), my life would still go on. None of this is, of course, investment advice. Please do your own research and make your own decisions. But I can tell you that it is a lot of fun following and learning about what smart, creative, and entrepreneurial people are doing in this emerging space.

  If you’re interested in NFT photography, check out my global citizen collection on Foundation.

  Chart: Financial Times

  2022.03.12

• Be a global citizen — my new NFT photography collection

  Fresh NFT mint on @withFND! 🌐https://t.co/zuIpGRio5n

  — Brandon Donnelly (@donnelly_b) February 13, 2022

  I have enjoyed photography for as long as I can remember. But I got into it in earnest during undergrad while studying architecture. At that time, Toronto-based photographer Sam Javanrouh was in the early days of running his decade-long photoblog called daily dose of imagery. And I remember checking it religiously to see his captures of the city. This was a fairly novel medium for photos at the time. Instagram wouldn’t arrive for another 7 or so years. So I found it deeply inspiring.

  So much so that I went over to Henry’s at the corner of Queen and Church, bought a refurbished Canon Rebel, and started capturing my own photos of Toronto — often at night after school. I’m positive that I’d be embarrassed if I ever pulled out those old photos from the archives, but regardless, photography more or less stuck with me as a hobby. It also formed an integral part of the design portfolio that I used to get into graduate architecture school. (My photos proved to be less useful for business school.)

  I later moved onto shooting with Fujifilm cameras (currently a Fujifilm X-T3). And nowadays I mostly shoot when I’m traveling and have some free time. But two decades after buying that refurbed Rebel, I can’t help but feel like we are at yet another important turning point in the evolution of photography (and, of course, art more broadly). We now have tools and technologies that allow for the ownership of digital assets. (See non-fungible tokens.)

  So I have decided to start minting and making my photography available for sale on Foundation. The first collection is called “Be a global citizen”, and the plan is to slowly add my photography from around the world to it. The floor price is currently set at 0.25 ETH. And all of the photos were taken on my Fujifilm X-T3. I hope you like it. To check out the collection, click here.

  2022.02.14