Bybit Crypto Exchange to Power Art Dubai’s First Digital Art Chapter

Bybit, a leading cryptocurrency trading platform today announced its support for the digital art chapter of Art Dubai 2022 at Madinat Jumeirah, Dubai.

Bybit to Support Art Dubai 2022’s Digital Art Chapter

In an announcement made today, the world’s fastest-growing cryptocurrency exchange Bybit stated it is Lead Partner of Art Dubai Digital, a new section of the iconic art fair that aims to bridge the gap between the booming crypto industry and the international art market. The rise of NFTs and the metaverse has provided artists and creative content creators with immense options to express their art digitally. Further, the onset of the COVID-19 pandemic accelerated the digitization of the world and provided the perfect ground for global remote artistic communities to connect through a digital space. Accordingly, the new Art Dubai Digital section will put on display those art pieces that blur the lines between reality and the realm of digital art. Specifically, the section will showcase 17 presentations from both traditional galleries and digitally native ones. The digital section aims to give a voice to emerging digital artists and market participants, the majority of whom are first-timers at an international art fair. Art enthusiasts can use the Bybit NFT Marketplace to join the fair and experience the art or support any artist of their choice. Further, the NFT Marketplace also offers 15 artworks from the participating galleries of Art Dubai.

A Wide Range of Artists Featured

It’s worthy of note that Art Fair Dubai 2022 will also present Bybit Talks which is essentially a new addition to enable dialogues between the crypto ecosystem and the art world to make crypto, web3 digital practices, and NFT concepts and opportunities more accessible to the wider public. Moreover, Bybit’s association with Art Dubai 2022 includes a limited run of NFTs at the booth featuring artists and art collectives MIRL (Made in Real Life), Song Ting, Viia Yeon, Maruchef, Hyuck, S.R Innovation Lab, Oscar Oiwa, Yeo Huang Joo, Saule Dyussenbina, Ziyang Wu, Yasuo Nomura, Kevin Heisner, and SIM_Moby. Commenting on the development, Igneus Terrenus, Head of Communications at Bybit, said:

“Art Dubai’s admirable work in elevating talent to the global stage, particularly with artists from underrepresented regions, echoes Bybit’s endeavor to democratize next-level trading for the broader public. NFTs are one of the new tools to reinvent and rewire the art market, and a new generation of artists and art patrons are drawn to a new parallel world that rewards authenticity and the imaginative minds.”

Similar sentiments were echoed by Pablo del Val, Artistic Director of Art Dubai at the opening address. He said:

“There are two important legs in the projects. We have galleries from the physical world and galleries that only exist in the metaverse. And to complement these and help understand what they’re going to be showcasing, we have one of the most exciting educational programs today, among them is Bybit Talks by Bybit, the sponsor of the digital section, and the Global Art Forum.”

The Bybit NFT Marketplace functions as a one-stop-shop for artists, creators, and digital collectibles enthusiasts, to create, and sell or trade on the Ethereum ERC-721 standard via their spot accounts to provide the tools of digital ownership to all. Shumon Basar, Commissioner, Global Art Forum, concluded:

“In the last two years, the 3D world lost approximately half a dimension. At the same time, new multiple dimensions have been discovered online. We are now extensions of our devices and this changes everything. It’s the kind of paradigm shift that civilization sees every few 100 years. We’ve been going through these changes arguably for the last 30 years and now in a more and more accelerated manner, evidenced in the mainstreaming of crypto, blockchain technologies and NFTs over just the last year. In the two and a half dimension, digital artifacts and crypto economies are as real or unreal as anything else. And there’s such rapid growth in digital platforms, it’s often difficult to keep track even for seasoned insiders. So the Bybit talks will explore the unknown past and the possible futures of NFT, how our ideas and experiences of media buy change with decentralized institutions, and what kind of values beyond merely the monetary is at stake with these new technologies.”