The term 'pop art' was first coined in 1954, although the movement got its first real break in the 1960's. Pop art addressed the division between the high-brow and popular culture by challenging the traditional conceptions of fine art. By using visual codes from popular culture and mass-produced objects in works of art, pop artists merged high-brow and with low-brow.

blog.php-566 Jeff Koons Balloon dog, H&M, New York Image: Forbes

''I want my work to be accessible to people,'' Jeff Koons told The New York Times at the launch of his limited edition handbags for H&M, adorned with Koons' signature 'Balloon dog.' The artist predicted that women of all ages, students, young professionals and others would pounce at the chance to purchase one of the $49.50 bags.

For Japanese artist Takashi Murakami, his high profile collaborations really do seem to pay the bills. The artist has designed ski passes for Aspen, on countless occasions collaborated with Louis Vuitton and even designed a limited edition of Vans shoes and skate wear.

''For me, there are no other shoes that are so comfortably wearable that let me focus on producing my artwork. I also feel extremely strong empathy for Vans brand concept and creative stance.''

blog.php-567 Damien Hirst and Alexander McQueen scarf Image: Sølve Sundsbø

In 2013 Damien Hirst collaborated with Alexander McQueen to produce a limited edition collection of scarves. The scarfs were covered with Hirst's butterflies, spiders and insects, which together formed a geometric pattern in the shape of a skull, the symbol synonymous with McQueen.

Another YBA who has lent their talents to the fashion world is Tracey Emin, who recently created a jewellery collection with Stephen Webster. The collection, titled "I Promise to Love You" is inspired by Emin’s iconic neon statements: "Promise to Love You," "With You I Breathe," "Love" and "More Passion."

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Street artist Shepard Fairey has collaborated many times with Z-Trip, one of America's biggest producers and DJs. In 2008, the pair created a poster depicting Obama with the words "Hope" and "Change." Originally, the artwork was not made in collaboration with Obama's presidential campaign, although it did not take long before the artwork gained his seal of approval, becoming the campaign's most prominent symbol.

Just like the pop art of the 1960's, these collaborations reflect the most current trends in consumer culture. This difference between the 1960's movement and today's artists, is that the these collaborations today have financial gain for both the artist and the brand.

Brands and even artists of today are always chasing and creating the next "hype." Today, Andy Warhol's proverbial "15 minutes of fame" would be more like 15 seconds (could you really fit 15 minutes into a Vine?)

An artist no longer achieves fame beyond the grave. Today, artists can achieve a respected reputation with collectors and museums around the world and see their artworks achieve high prices at auction, if they create enough hype.

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