While institutional philanthropy is in a boom-time, foundations have not monopolized such growth. The renewed interest in donor advised funds (DAF) since the pandemic has triggered meteoric growth in the amount of assets stored in DAFs, with recent figures showing over $229 billion stored across 2 million DAF accounts, receiving roughly $86 billion in annual contributions, and granting nearly $52 billion in 2022.
The use of generative AI (GenAI) tools is becoming increasingly prevalent in marketing, particularly for smaller organizations or nonprofits seeking innovative ways to engage audiences and improve workflow efficiency. This article dives into data collected through a survey that was sent out to museum professionals in Pittsburgh and Cleveland to better understand how and if they are utilizing generative AI tools in their marketing strategies.
This month, music and film are at the forefront as each battles with the future uses for burgeoning tech. While AI-generated film visuals seem to be coming up short, progress toward realistic AI-generated music is starting to send shockwaves. On the consumer side, music streaming tools are being released to allow more listening experience customization. Across the industry, artists are celebrating ways that some these new tools can enhance their work, while speaking out against potential impacts on jobs, compensation, and creative freedom.
Generative AI (GenAI) has become increasingly integrated into marketing and communication careers, and even our daily lives, with the rise of various text-to-image, text-to-video, & text-to-text tools. As digital marketers find new and innovative ways to keep up with the trends, and specifically GenZ in a quick-changing popular culture scene, how are they reacting to the rise of GenAI?
Arts and cultural organizations are becoming increasingly aware of their climate impact, and many are taking action to reduce harm. Tracking, reporting, and offsetting emissions may seem like an overwhelming feat for small or mid-sized organizations, but emerging blockchain technology may help make the process more efficient and reliable.
Cryptocurrency has the potential to and is already beginning to disrupt philanthropy and the ways that nonprofit organizations collect donations. In previous eras, philanthropic innovation was spurred by “new sources of wealth,” as with John D. Rockefeller creating America’s first foundation or Bill and Melinda Gates translating his immense success in the tech revolution into global philanthropic influence in areas of “poverty, disease, and equity.” Similarly the emergence of a new class of “crypto-elite[s]” has the potential to disrupt traditional methods of philanthropy. Now, as blockchain technology and its myriad applications become more mainstream and our society becomes more crypto-curious, nonprofit organizations have an opportunity to adapt by incorporating cryptocurrency and its various tokens into their fundraising strategies.
The cryptocurrency market is in turmoil, mirroring both the U.S. stock market and the emotional state of many of its citizens. Though some crypto investors have found astronomical financial success, skeptics have long voiced concerns about the volatility and inherent peril of pursuing such investments. These naysayers have ground to stand on given the instability of Spring 2022, as more than “$700 billion has been wiped out” from the crypto-economy, entire currencies have collapsed, and related companies and market exchanges are scrambling in response to the downturn.
Deemed as a white, male-dominated space, many female artists and celebrities have voiced their enthusiasm for inviting more women into the Web3 movement. While many NFT projects focus on education, philanthropy, and providing visibility for women creators, some have been criticized for using social justice issues as selling points, undermining their risks and actual contribution to the cause. Is NFT an outlet for women to express and achieve financial independence, or is it another “tokenizing” marketing gimmick to exploit female audiences? What are some of the risks and opportunities with “pinkwashing” the NFT market?
In recent years, the advancement of cryptocurrencies and blockchain-based technologies has led to increased exploitation from criminals. From “pump and dump” scams to cybercrimes, the rapid rise of digital assets has raised questions about their exploitation by criminals to launder money and commit fraud in untraceable and anonymous ways. Lawmakers and regulators have been trying to figure out ways to combat the threats that the growing sector imposes. On February 17, 2022, the Department of Justice announced its new National Cryptocurrency Enforcement Team (NCET) appointing Eun Young Choi as director. Many argue that the NCET and the FBI’s Virtual Asset Exploitation Unit that launched on February 18, 2022 signals more crackdowns on the crypto industry. As the possibility of regulations looms, what are some of the effects it may bring to the crypto and NFT markets? This article explores what some may look like.
There is ongoing legal debate around Quentin Tarantino's latest project, an exclusive behind-the-scenes NFT collection based on the 1994 Miramax blockbuster hit "Pulp Fiction," published in December 2021 on Opensea by SCRT Labs. A California lawsuit will determine whether Tarantino's plan is too cavalier, and whether Miramax should receive a cut of the sale. Today’s NFT world is governed by crude and antiquated laws surrounding copyright and trademark ownership. Hopefully this lawsuit establishes new legal boundaries and guidelines for future cases. In the meantime, NFT collectors should stay wary of ambiguous claims and unclear terms.
Streaming technology in the last decade has rebuilt the structure of film revenue models. Motion pictures now earn revenue through a network of internet-based over-the-top (OTT) content distributors, reaching worldwide audiences by partnering with multiple streaming platforms. More recently, the Covid-era decline in theatrical film distribution has led to a purely OTT distribution model, and a complete reliance on internet-based revenue. In the future, advancements in blockchain technology are expected to disrupt and further redesign the film distribution waterfall. Ambitious filmmakers should have a clear understanding of how revenue distribution waterfalls work before they tackle a blockchain-based film production.
As innovation using blockchain continues in 2020, we are looking back at all the research our contributors have done around blockchain and its applications in the arts sector, including fundraising, contracts, and auctions. Let AMT Lab know if there are more blockchain topics you would like to see covered or if you are using blockchain or cryptocurrency in novel ways in your organization.
