Who’s buying into NFT art? Is there real values or a fad. Here’s an Artsy article. https://www.artsy.net/article/artsy-editorial-collectors-nfts?utm_medium=email&utm_source=sailthru&utm_campaign=editorial&utm_content=weekly-03-14-21&utm_term=23194811
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Interesting perspective on NFTs from David Hockney. Which would you rather own, a real world Hockney or a digital Beetle NFT? Highest Valued Living Painter David Hockney: NFT's are for 'Crooks and Swindlers'
After Decades of Selling New Media Art, Gallerist Steven Sacks Offers His Take on NFTs
Bitforms gallery has been on the cutting edge of digital art for decades, so what does its founder think about NFTs?
This will be interesting to watch, art, NFT, and energy efficiency meet. Ethereum cofounder Joe Lubin creates a 99 percent more energy-efficient blockchain. A group of blockchain’s biggest players, including Ethereum and ConsenSys co-founder Joe Lubin, have announced the launch of Palm, an alternative network for NFTs that’s 99 percent more energy efficient than the current Ethereum blockchain. While Palm isn’t the long-promised wholesale switch from Ethereum to Ethereum 2.0 (Eth2) that would drastically reduce the network’s energy consumption, nor is it the first platform to use other more energy efficient blockchains, it signifies a huge stride from some of field’s leading figures. Palm will debut with a series of 10,000 unique oil paintings on paper by Damien Hirst that will be sold as NFT's.
More on crypto art. Why would anyone buy crypto art – let alone spend millions on what’s essentially a link to a JPEG file?
The image above is Beeple's work, Everydays: The First 5,000 Days (2021). On February 25th, Christie's offered it in an online auction for $100. It ultimately sold for $69.3 million. Click on the image for more details.
IMO, non-fungible tokens are not (yet) about art collecting - they are about generating cash like the stock market. Digital art is the McGuffin.
I do believe the technologies that allow NFTs to increase in value will have something to do with the successful management of collectable fine art digital files.
Right everybody is talking about NFTs ($$$), not the art.
For a historical perspective, consider The Tulipomania...