Survival of the fittest: the perils of viral memes, internet algorithms and the rise of the NFT market

This piece was first published on undrgrnd.io, November 28, 2021

by Anna Seaman

What does it take to go viral? What’s the secret formula that makes one clip about a child biting another child’s finger worth £500,000 whilst the cute, funny home videos on my iPhone only have sentimental value to me? So much about going viral, or skyrocketing prices pegged to your NFT is about being first, new, fresh and surprising. But equally, it can feel like a murky world out there when it comes to the deep, dark mysteries of internet algorithms that bounce one meme to the top of the forwarding pile and leave others lingering to fall into oblivion.

Sometimes, I think artists feel like that. There is no real reason why some art that is excellent in composition, execution, content and narrative gets passed by whilst other pieces (of arguably lesser quality) reach six figures or more. The truth is that art is subjective. Whilst many people in the art world — especially those educated in art history — can prove the effective use of technique, in most cases, what makes an artwork good is something that escapes definition. I believe it is a communication between the soul of the artist and the spirit of the viewer; it is a kind of energy exchange that touches you deeply in ways that words cannot describe. In the same way that music or film can pierce your heart, art can also have this effect; or it can make you laugh, or it can open pathways in your brain to new perspectives. If it is really good, it may do all of the above and more.

But today, in our hyper-connected world where artists can reach a global audience through the wonder of blockchain and NFTs, I do often question what makes the world go crazy over some things and not over others.

You can, of course, find speculations on Google. According to the wise oracle and psychological theory, content that feels novel or that fills information gaps may trigger the release of dopamine in the brain, thus touching emotions that can cause a viral effect. It is also about hype. FOMO in the world of NFTs — particularly collectibles — is very real and can spark eye-boggling trajectories. However, what if you are not the designer of a Bored Ape or you don’t have the mysterious intrigue of Pak, does that mean that your super talent will never be recognized?

Maybe. Or maybe not.

The democratizing spirit of decentralization has drawn me in since the beginning. Bringing the power back to the people, be they artists, collectors, investors or just about anyone has to be the way forward in our crazy and chaotic world. This should mean that it is a survival of the fittest situation. The best and brightest talents should eventually work their way to the top of the pile because in sorting the wheat from the chaff, what better barometer than the general consensus? Right? Yet, even as I write these words, I find myself nudging aside a seed of doubt. Is all fair in love, war and the internet (metaverse)?

There are a lot of NFTs out there getting love that I think are overrated. There are also a lot of artists out there battling for the front line and falling short. So, what is the solution before I get carried away with this play on words that is sounding more and more like a Tolstoy novel with every sentence? My solution is to say to artists: “don’t give up”. That is what the idealist in me says. There is a big market out there that is growing exponentially and initiatives are emerging that offer filtration to bring quality art to the fore.

It may be a tough old world, where justice is not dealt out in fair measures but I remain ever the optimist. So, I continue to encourage all of you to persist and persist and whether you are the hare or the tortoise, this is not a race; it is a growing ecosystem where the fittest will survive and (r)evolution will have its day.