Hey MJ & co. Why Is "Everyone Doing It" On NFTs? Is It The Real Deal?

[sparechange]

Check out Steve-0's podcast with Mark Cuban, in the first half Cuban talks about NFTS.

One of the smartest guys around...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Abrodos]

@MaxKhalus Here's an article that might help you understand value in contemporary art. It goes way back to Duchamp's fountain in the 1900s, when computers didn't exist (but digital reproductibility is an important concept in contemporary art since the 60s) . From a logical/productive point of view it makes little sense, but the key is that everything is related to the story behind it, and that also includes the story that is created when a collector buys it.
The Mona Lisa is worth so much more than other works of Leonardo, and is so famous, because it's the first painting that was reproduced in newspapers all over the world at once (when it was robbed). That's how it got its fame and its place in art history. Everything is about the backstory, same as branding.
Collectors buy, keep and sell art like that banana in the article just to "brag", be exclusive, or protect net worth. Same reasons as to buy any other luxury item. And as long as the world agrees on x piece being worth x, all these uses are valid. Museums, governments, big fortunes, all have been helping mantain this value for decades so atm it's a pretty solid agreement.

So basically NFTs are unfalsifiable certificates of authenticity/ownership, which is what everything is about. But that has no relation with the ability of the physical or digital artwork to be copied or not, or with any use that you might give to the acutal piece of artwork (if it really exists as such).
.

The $120,000 Art Basel Banana, Explained

Maurizio Cattelan’s “Comedian” caused quite a stir at Art Basel Miami Beach—especially after another artist ate it.

www.vogue.com

 

[Prince33]

View: https://www.youtube.com/watch?v=MZ--B6gQo_g


Though I don't agree with the political undertone here I do agree NFT's are like the very very beginning of most if not all things in life going digital. Think by the late 21st century the lines between what is digital/physical will be blurred. The internet is barely 30 years old, we're witnessing proto mass digitalization.