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WAC Weekly - Unpack Smart Contracts 

When in 1985, a Texas jury awarded Pennzoil $10.53bn in damages for getting the short end of the contractual stick, the world learned just how powerful a handshake could be. One year prior in New York, the oil giant had reached an informal, but binding agreement to purchase a large stake in Getty Oil for $5.2bn.

Contract Killers: artist Nancy Baker Cahill challenges the efficacy of the 'smart contracts' behind NFTs with an augmented reality project

The art world has a late payment problem, and the people who suffer from it most are artists. According to UBS and Art Basel's The Art Market | 2018, dealers report that it takes an average of two months to complete payment for a work, and, from personal experience working at art galleries, we know it often takes longer.

WAC Weekly - Unpack Smart Contracts

📜 Topic of the session: Smart Contract

📚 Readings prior to the session

How Starving Artists Could Benefit from Smarter Contracts

Contract Killers: artist Nancy Baker Cahill challenges the efficacy of the 'smart contracts' behind NFTs with an augmented reality project