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The fourth edition of D-Art Encounters took place on September 24th at Poolside Hub with a panel discussion titled “The Monetization of Creativity: A Discussion on Money, Crypto, and Value.” The panel featured Miguel Rodrigues, a Portuguese artist, and Vitali Devoed, CEO of sprk.fi., and was moderated by Julia Flamingo, a journalist and writer on the 100 Collectors team, Together, they explored the evolving dynamics between creativity, technology, and the financial mechanisms shaping today’s art world.
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D-Art Encounters is a series of talks organised by us in collaboration with Muro and Poolside, both projects in the Web3 space and based in Lisbon, to foster discussions on digital art and blockchain, emphasising their societal and cultural impact rather than technical details.
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This edition also featured a digital art collection by Pakistani artist Omar Aqil. With six pieces on display, the collection "The True Luxury" calls for a moment of introspection, offering a chance to reclaim authenticity and stillness amid the relentless currents of the virtual world.
The panel began by addressing a provoking question: who gives value to an artwork?
Be them digital or physical, it is important to discuss the intrinsic and extrinsic value of artworks. While intrinsic value focuses on the artwork's inherent qualities, extrinsic value is shaped by external factors, often influencing how it is priced or regarded in a broader cultural or economic context. Miguel and Vitali shared their thoughts on the challenges of discussing the value of art which often extends far beyond materials or market speculation.
The sustainability of the current NFT model, which heavily depends on resale markets, was another focus. The panellists considered whether this approach is viable in the long term or if it might limit artistic growth. The consensus was that while NFTs offer vast potential, the art community should prioritise building long-term value and deeper engagement with collectors over short-term profits.
The panel also explored the ongoing debate around Bitcoin’s value. While some argue that Bitcoin lacks intrinsic worth, comparisons were drawn to fiat money, which similarly functions without a direct link to precious resources. Both forms of currency, in their own way, represent shifts in economic systems and cultural evolution.
The discussion also covered the volatility of cryptocurrencies like Ethereum. For artists and creators, navigating financial instability can be a challenge when monetizing work in the Web3 space. The panelists suggested strategies to mitigate these risks while still leveraging the opportunities of blockchain technology.
One of the evening’s broader philosophical questions centered on the possibility of decentralization in Web3. Although the ideal is a space without intermediaries between creators and audiences, the reality is that large corporations still dominate. Thanks to everyone who attended this insightful talk! We look forward to continuing these meaningful conversations in future editions.
