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NFT collapse and monster egos feature in new Murakami exhibition – Cointelegraph Magazine

– Takashi Murakami, a renowned Japanese contemporary artist, is known for his brightly colored signature characters that have appeared on various products.
– Despite collaborating with celebrities and institutions, Murakami’s NFT projects haven’t gained as much popularity as other contemporary artists like Beeple.
– However, many believe that Murakami’s flowers have the potential to become as iconic as CryptoPunks and Bored Apes.
– Murakami’s NFT launch coincided with the 2022 crypto collapse, resulting in a disappointing outcome.
– Murakami is now having another go at NFTs with a new exhibition at San Francisco’s Asian Art Museum.
– His exhibition explores the creation of original tokens from scratch.
– Murakami’s artwork critiques the perversion and violence underlying Japan’s otaku and kawaii subcultures.
– His artwork embraces and exploits commercialization while blurring the lines between high art and low art.
– Murakami’s “Superflat” theory bridges traditional Japanese visual culture with contemporary art and challenges the distinction between high and low art.
– Murakami’s previous NFTs experienced a decline in value after the downfall of FTX, leading him to apologize and pause his sales.
– The artist is now focused on creating digital art that matches the value of its real-world counterparts.
– Murakami’s new exhibition, “Unfamiliar People – Swelling of Monsterized Human Ego,” explores his frustration with the volatility of the metaverse.
– The exhibition features mixed media pieces depicting humanoid monsters influenced by traditional art and commentary on the influence of digital technology.
– Murakami believes that the current decline of virtual currencies is a temporary setback and continues to work on NFT projects.
– Physical reimaginings of Murakami’s NFTs, including painted renditions of his flowers, are also featured in the exhibition.
– The exhibition includes a sculpture of digital avatars created by Murakami in collaboration with RTFKT.
– Murakami highlights the difference between the value system of contemporary art and the world of NFTs.
– Western critics often reject NFT art while celebrating traditional painted art.
– Murakami suggests that the western art world should be more like Japan, where there is no distinction between high and low art.
– Strict regulations in Japan hinder the development of the NFT market despite the country’s demand for manga and anime-related iconography.
– NFTs experienced a decline in value after their peak in 2022, causing uncertainty among creators.
– Murakami sees NFTs as an artistic experiment and a future of creativity and commerce.
– He believes that the era of Superflat has come to an end, and we are heading towards a hyper-Superflat world with the rise of the metaverse.

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