For some time now, the acronym NFT has been buzzing around. We see press releases announcing Madonna's controversial NFT, TV debates discussing speculative NFTs, and even spam messages flooding our inboxes with offers to buy and sell NFTs. But for many, the concept of NFTs remains a mystery:
What exactly is an NFT? Why is it stirring up controversy? And how does it intersect with the art world?

We aim to address these questions through The Enigma.jpeg, an experiment led by diselo.xyz and curated by Ora Labora Studio. Together, we will dive into the depths of the Metaverse to uncover the true nature of NFTs. Joining us on this journey will be ten artists: Giovanna Crise, Mabel Esteban, Jorge Isla, Alex Khabbazi, Julie Legrand, Cristina Ramírez, Lara Ruiz, Luis San Sebastián, Elián Stolarsky, and Lev Termen.

Let's begin by defining what an NFT is. The term "NFT" stands for Non-Fungible Token. But what exactly does this mean? Let's break it down.

The word "token" originates from English and is often associated with items like those found in casino games — a token represents a unit of value. On the other hand, "fungible," derived from the Latin word "fungi," meaning "to spend," refers to something that is consumable and replaceable. In simpler terms, fungible items are those that can be used up and easily replaced with an identical counterpart. Examples include clothing, food, or money.

Non-fungible goods, however, possess a unique quality — they cannot be replaced with an exact replica because their value is intrinsic and everlasting. Works of art and archaeological sites serve as prime examples of non-fungible items. Once these items are consumed or utilized, they cannot be replicated in the same manner as fungible objects.

NFTs are digital tokens with unique characteristics, serving as certificates of ownership. They are commonly linked to digital audiovisual files such as videos, photographs, music, or images. Just as tangible world art has certificates of authenticity, NFTs fulfill this role in the digital realm.

Here's how they function: An NFT is recorded through a contract, typically a smart contract, generating a numerical code associated with the owner's and creator's details, akin to a car's registration number. Consequently, NFTs play a crucial role not only in establishing ownership of digital assets but also in safeguarding copyright.

Once created, these NFTs are stored in a vast decentralized database known as the blockchain. This database is shared among all users, granting access to stored information. The term "blockchain" derives from how this technology records new data. Each time new information is added, it undergoes validation by various users through a cryptographic seal, ensuring its immutability. If updates are necessary, a new block of information is appended to the existing one, forming a chain of unalterable data accessible to all users.
For instance, when an NFT changes ownership, each transaction's data remains recorded on the blockchain, accessible to all for verification.

How does someone acquire an NFT? Ethereum L1 and L2 currently stands as the primary blockchain services for NFT issuance. Ethereum is an open-source platform facilitating the creation of decentralized applications. These applications can generate smart contracts, which safeguard and monitor each transaction. For instance, The Enigma.jpeg project functions precisely as such an application, permitting the purchase of digital artworks through a smart contract on the Optimism Ethereum's Layer 2 blockchain.

Let's begin once again: what exactly is digital art? Digital art encompasses creations produced and presented solely through digital tools. The expansive range of creative options within the digital realm results in a diverse array of works, including photography, music, texts, video clips, and images. These artistic expressions are inherently diverse and exclusively exist within the virtual space.

The intangible nature of digital artwork, coupled with its ease of replication through the internet, has presented a series of challenges for artists in this field. Their creations often become lost in the vastness of the internet, utilized without permission and frequently without their awareness. Additionally, due to the reproducibility of digital art, commercializing it becomes challenging — it lacks the ability to be signed and numbered as one would with an engraving or a printed photograph.

In response to this reality, mechanisms like the aforementioned NFTs were developed to safeguard the intellectual property of digital artworks while also facilitating their integration into a market grounded in authenticity and uniqueness. Through the creation of an NFT linked to an artwork within a blockchain, a "certificate" is generated, registering its authorship, certifying its provenance, and documenting its transaction history. Furthermore, smart contracts (should...) ensure that each time an NFT changes hands, the artist receives a percentage of the sale. Consequently, NFTs not only enhance transparency in the distribution chain but also guarantee that artists are compensated for their work.

Thus, whether or not aligned with the current system governing the art market, the realm of NFTs merely mirrors existing practices found in the physical world. Beyond the surrounding noise and controversies, which are undoubtedly valid, it's equally true that this technology presents new income avenues for artists, ensures adherence to copyright laws, and enhances transparency within the sales chain.

Enigma is, above all, an experiment — a humble venture by a group of artists, designers, and cultural managers into the realms of blockchain, the metaverse, and digital art. We've invited ten artists from various corners of the globe to collectively contemplate this alternative universe inhabited by NFTs.

Enigma presents itself as a group exhibition showcasing the talents of Giovanna Crise, Mabel Esteban, Jorge Isla, Alex Khabbazi, Julie Legrand, Cristina Ramírez, Lara Ruiz, Luis San Sebastián, Elián Stolarsky, and Lev Termen. Each artist has contributed two works, two masterpieces encompassing photographic pieces, conceptual works, video clips, and illustrations. As mentioned earlier, the diversity of digital art is vast, and these ten artists offer a range of technical, aesthetic, and conceptual possibilities within this new virtual environment we've chosen to explore.

Enigma.jpeg is thus envisioned as a collection of ten artistic perspectives that offer diverse insights into the digital realm we've immersed ourselves in to explore and comprehend. However, Enigma doesn't conclude here. We aspire for this collective exhibition to serve as the inaugural chapter of an ongoing project. We invite you to join us in continuing to craft the narrative of this journey through the expansive landscape that unfolds beyond the confines of our screens.