According to market statistics, the market for non-fungible tokens (NFTs) risen dramatically in the second quarter of 2021, with 2.5 Billion USD in revenues so far this year, rising from just 13.7 Million USD in the first half of 2020. A digital item like a picture, video, or an in-game item is recorded by an NFT, which is a crypto property. The holders of NFTs are registered on the blockchain, enabling them to be sold as a replacement for the digital item they represent.
Holography is a method that allows you to capture and recreate a waveform. Holography is most recognized for its use in creating 3D pictures, but it may also be used for a variety of other things. Looking Glass Factory had revealed a partnership with singer Reggie Watts and electronic band Panther Modern to produce “The NonCompliance of Being”, a holographic crypto artwork that was sold through Zora on March 11. The crypto art industry is booming, and NFTs are quickly becoming a household name. As per Looking Glass Factory, the format's appeal will take a long time to gain traction. Since 2011, artists have been dabbling with digital artwork, blockchain technology, and cryptocurrencies, although collectibles have been around for far longer, according to the firm.
“Audience of crypto art are forced to see their artworks on 2D displays, despite the fact that some of it was made in 3D and was intended to be viewed that way,” the organization claims. “This joint endeavor is unique in that regard. The Looking Glass Portrait projection is not only the world's most sophisticated holographic projection, but it is also the most personalized and transportable because of its small dimensions.
Lovers of crypto art would not only be able to acquire a one-of-a-kind work of art, but they will also be able to enjoy it in 3D as a hologram using the most cutting-edge holographic technology. Supporters of Panther Modern, Reggie Watts, and electronic music would be able to appreciate the artworks accompanying the music because the projection includes a sound out.”
Three Black artists are selling NFTs connected to holograms of themselves doing the legendary dance moves they created, which have gone viral on social networks and spurred debate over how to pay digital performers. In 2020, the "Renegade" blew out on social media. TikTok’s greatest stars and millions of others, who submitted videos of themselves doing it, performed the dance.
The routine's inventor, Jalaiah Harmon, told the New York Times that she did not receive any recognition or compensation for the dance. Her popular dance was then turned into a Fortnite emote that gamers could purchase for their avatars to perform, but no licensing deal with Harmon was made public. Harmon's dance, along with Cookie Kawaii's "Throw it back" and Blanco Brown's "The Git Up," has been seen over 10 billion times on TikTok as of today, but monetizing their works has proven difficult.