![]() ![]() But there’s something about the insanely high resolution or high definition of these images that is part of their popularity, or the value being conferred onto them. Now I’m doing the thing I swore I wouldn’t, which is some sort of close reading of Beeple’s artwork. And you’re both using or misusing the same tools, to very different ends. MK: It’s a time-honored avant-garde strategy. So it’s a use of this extremely complex tool in a very dumb way, and it can be interesting when you misuse a tool. It’s a 3D movie-making program, essentially it’s used a lot for gaming. I’ve been using it for five years to make large, printed works, and he’s also using it for still imagery, and it’s not really suited for that. ![]() SP: I’m also interested because Beeple uses a software package I use, Cinema 4D. I mean, it sucks, but it would make a good book. I think that work is going to be a pretty great record of this moment. ![]() Seth Price: First of all, as soon as they print a coffee table book of the Everydays, I’m buying it. Part of what I’m hoping to chat about today with you is a different approach. So, as usual, there are the Cassandras and the utopians. Or you hear the rhetoric of liberation: This will free art and every human along with it. At the same time, there’s a lot of hand-wringing about NFTs signifying the total conversion of art into a speculative financial instrument. It’s like making a full-throated critique of Justin Bieber: I don’t think our existing models of analysis really apply. In fact, much of the response seems to be about taking down Beeple and his art, which to my mind misses the point. The idea is actually straightforward, but it’s provoked so much angst. So it can be used to digitally codify ownership of things like art. An NFT can’t be exchanged with a like entity (the way one dollar bill is equivalent to another, or one bitcoin has the same value as another). The initialism stands for “non-fungible token”: a unit that is totally unique as a digital asset, registered or certified as such on a digital ledger, or blockchain. Paris Hilton, Jimmy Fallon, Steph Curry and Eminem are among the celebrities who have purchased one.Michelle Kuo: The NFT craze-which erupted with the $69.3 million sale of the artist Beeple’s Everydays: The First 5,000 Days last month at Christie’s-clearly touches a huge nerve within the art world, even though there’s still so much confusion about what NFTs even are. The Bored Ape Yacht Club is one of the most popular and best-known NFT projects to date. Like cryptocurrency, NFTs are exchanged through the blockchain, and can be bought and sold using Ethereum, the world’s second-largest digital currency after Bitcoin. This makes them a far more risky investment than purchasing, for example, an original painting by Vincent Van Gogh, which has a far more solidified value. Even if you purchase an NFT, nothing is stopping someone else from simply right-clicking, saving it and using it as their own profile picture, for example – and no one will be able to tell the difference.Īn NFTs value is entirely dependent on people being prepared to pay that sum the next time it is sold. It’s a bit like buying an original painting, with one key difference.ĭigital tokens proving ownership of an asset which doesn’t exist outside of the digital sphere and which can therefore be replicated into identical digital copies have no intrinsic asset value. When someone buys an NFT, what they are actually purchasing is a token proving ownership of such an asset. ![]()
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