A Deep Dive Into A Discussion About The Status Of The Crypto Art Market today With Fanny Lakoubay
Fanny Lakoubay sparked a fun and insightful conversation on an episode of NEWFORUM.
Fanny has been a Crypto Art Collector and Advisor via LAL ART Advisory since 2018. LAL Art advises private & institutional collectors, artists, and some select startups and corporations in their discovery and navigation of the NFT and Crypto art space.
We enjoyed chatting with Fanny about her background, experiences, and how she fell down the Crypto rabbit hole. We also dived deep into a discussion about the status of the Crypto Art Market today, the trends and debates around licensing and royalties, and how to support artists further in the space.
“A lot of artists are like, I don’t know precisely about my style, how do I fit in, nothing looks like what I’m doing, I don’t feel like I’m gonna find people who like it; so maybe I should change and do something more in line with what I see. This is the worst idea, right? Stick to your guts; what you do. And we’ve all been wronged by PFP projects that sell out in seconds, making millions in one minute. This is not an achievable goal and benchmark. I think anything that takes more than two seconds of due diligence or research to understand is not going to sell out in seconds…” — Fanny
Fanny has over 14 years of experience in art, Technology, and finance. We were curious about how all her experiences led her to become a digital art advisor specializing in NFTs and a founder of LAL Art.
“It’s not been a straight line; that’s what I’m gonna start with. It’s exciting to hear how people end up in the space because we’re all a bunch of rejects, right? We just said, oh, I don’t know what I’m doing, I can do this, I did that, and then, like, finally clicked when we came to Crypto Art and NFT community, so for me, it was a not straight line.” — Fanny
Fanny started with banking, where she spent one year, and she wondered what she was doing there, she expressed. She moved to New York 22 years ago. Her background comprises Business and Art History, so she decided it was an excellent move to New York to start in the Art Market. Fanny began at Artnet and spent eight years at Artnet in a role that we now call Art and Tech, which was absolutely not called that at the time.
“At the time, Artnet was quite the only and first Online Marketplace for the Art Market, and then I worked at a tiny startup for a collection management system for collector’s Galleries, and that actually was acquired by Christie’s, and that’s how I came to Christie’s and stayed in more the product team and operations jobs; so not the Glamorous gallery and specialist and like and we’re still techies within the Christie’s ecosystem…” — Fanny
Fanny later left Christie’s and started Consulting. She expressed that she had very young children at the time, which made sense.
We loved our inspiring, powerful women in Tech who show young women that it can all be possible.
She started with Elena Zavelev, who founded CADAF alongside Andrea Steuer, who was on an episode podcast.
They began organizing panels about Art and Technology, and in 2018 obviously, the Art Market was not talking about NFTs then, but they were already talking about Blockchain for certification of authenticities or the Blockchain for physical artworks, she explained. In her full episode, she explains how this collaboration unfolded and eventually led her to found LAL Art.
How does Fanny keep her sanity while staying up to date with the fast change space as an NFT Art advisor and Tech/Art teacher in the space?
“ On Twitter, many artists and people burn out because there is literally no limitation to what you can or should know or should learn about. One way I coped with it was to write a weekly newsletter on Friday. It can be late on Friday but let’s stick to it; publishing a news feed about what’s happened, happening specifically in the Crypto Art Space and then some general news…” — Fanny
Fanny added that it’s good to know what’s going on, you may not be directly interested in DeFi or Blockchain protocols, but it’s good to keep yourself up to date in a healthy way.
So by obliging herself to say okay, a few thousand followers expect that newsletter. She has to put it out; it actually does help her keep in touch with what’s going on generally in the market, and then as an advisor, she also needs to be aware of new platforms that are popping up, new artworks new exhibits, like things that don’t make it into the news. She gets to publish everything for free in the newsletter.
Here is a link to access Fanny’s newsletter!
“To be honest, the best way I’ve found to keep in touch is to spend a lot of time talking to people and having calls with artists, with platforms, really taking the time. Because I also tried to just follow things on Twitter online, and it was fascinating to see all the formed biases as when you read something online, you probably read one comment that someone put on Twitter before another one that someone else put, and then this twists your own idea of what’s going…” — Fanny
Here are more tips and suggestions on staying up to date and fighting FOMO to keep your sanity in this fast-evolving space. The NEWFORUM community cares about mental health.
We also discussed the opportunities and benefits LAL Art gives artists and Fanny’s overall vision in the space.
Is the cryptocurrency market crashing? How has this influenced the Crypto Art Market today? Watch her full interview to hear her honest views on the subject matter.
Fanny also expressed her views on the debates around licensing and royalties trending on Twitter.
She discussed learnings from advising artists to navigate Crypto and Web3, her challenges, and how she stays informed. She also talked about her target artists and why.
How can artists benefit from a DAO, and do all artists need to be a part of a DAO? Fanny believes DAOs are beneficial and also touched on the advantages of Quadratic Funding and explained how it works in supporting artists even further in her interview.
Fanny closed our episode with her powerful and inspiring words for artists creating in Web3, all in this spectacular episode of NEWFORUM!
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