To explain the beauty and complexity of this project, firstly I have to clarify what took me to create it. A few ideas and events should crossover in a short period of time to clearly picture this work: the first one was a deep meditation that I was doing the thinking in what would be a reward for the people who participate in the ODBK evaluations, something that could be easy to reproduce, unique and have enough intrinsic value to motivate the people to continue making ODBK evaluations. Another event was that in the daily newsletter I receive from Artnet I found an article that took my attention, this is the project of Paolo Cirio called “Art Derivates”. Paolo appropriated thousand of images from the art auctions and sell it or resell it to the art world by a very tiny small part of the quantity has been the original work auctioned. I think this is a very smart and beautiful project. And the second one was when I was handling the biographies and concepts of the artists for the ODBK evaluations database, I found the artist Felix Droese, this is a German artist who works with concepts of money and economy. He created two works that I was impressed one is to print the word “Money” in newspapers and the second one was the 20,000 offset prints signed that taken to Aldi (Supermarket chain) to sell them for one Euro, with an end price of 12,99 Euros and Aldi won more than 200,000 Euros in this business.
Art or what we understand as art, is in our heads, in our mind, thoughts, knowledge, and experience we have acquired during our lives. The knowledge comes from different sources but one of the most important is the mass media. Every piece of information that is created and put in public is a very tiny part of a huge system that defines the impression we have about the art world, participants, and what we know and consider art. This also helps to define how important an artist is and the price of their works. If we see it all as a system, every little piece that composes it has an intrinsic value itself, but the information is totally intangible, this is something that is accumulated in our minds and some other types of storage that with time it disappears in a huge mountain of data. But all this knowledge is an important basis of the value of art; it is like gold!. The accumulation of gold by the countries makes their money more valuable (between many other factors, of course). So if we gather all those amount data would represent the capital of the Art World.
Capital Knowledge of Art or Capital KA converts the intangibility of the knowledge in art into an asset. Those assets have the form of certificates called CeKA (Certificate of Knowledge in Art), representing one or more pieces of information (called KArtS - Knowledge in Art Shares) published in form of articles, essays, or papers by art magazines, academic websites, blogs, or newspapers. Every day comes fresh news from hundreds of sources building our idea of what art is. Capital KA uses the RSS feeds from those sources to create every CeKA. Every certificate encloses the text and images of a set of KArtS in form of a PDF that can be acquired through the CapitalKA system. The system assigns the name of the owner in the certificate, data are saved in the database, registered in a blockchain and the PDF can be downloaded. But how much should be the value of those certificates? This is a great question! The value of the text has defined the quality and relevance of the text for the art world.
Usign a system based on Natural Language Processing (NLP) technology an "art text" is processed to define their quality and their relevance for the art world. This is made by processing the text using a reference base of 350 essays written for professors and academics of the art universities around the globe. The reference base topics turn around contemporary art that date from 2007 until 2021. From every "art text", to define the quality and relevance, is extracted pairs of keywords checking and comparing the relation and correlation of them with the ones existing on the reference base. Every pair of keywords extracted from the "art text" in the same context of at least one of the documents of the reference base is considered a successful pair. When more successful keywords the text has more quality and relevance for the art world.
Click here to see the complete list of the reference base essays and some examples of the results of other art essays.
Capital KA daily crawls and processes RSS feeds from art magazines and blogs converting them into certificates (CeKA). Those “art texts” processing provides the successful pairs of keywords demand used in the current art world to calculate two values: the first is the CKA Index that corresponds to the level of quality and relevance for the art world of the text. And second to the value of each certificate CeKA.
The CKA Index is calculated usign the information of the successful pair of keywords found in the reference base. As I mentioned the texts of the reference base were processed using an NLP system. This system uses a RAKE algorithm to select the keywords and calculate their relevance of them in the text. I modified the RAKE algorithm to return the number of points calculated for each pair of keywords. This is for example one of the variables used in the formulas to calculate the CKA Index. The reference base database contains 2.5 million keywords pairs.
Every pair of keywords has a value and to calculate the value of a CeKA, is used not only the reference base process results but also the daily demand of the pairs of keywords. After the daily RSS feeds processing the demand of the pairs of keywords is reviewed and their value is recalculated. This demand makes the value of the pair of keywords change positive or negative and that affects the value of a CeKA. The value of the CeKA is measured in KArtCoins. One KArtCoin corresponds to a 0.0001 Ethereum.