NFT / what changed if so in global art market?

What is NFT?

Imagine that You missed whole year and never heard of nft, then start the research from wikipedia, you get some interesting stuff right from the begining…

Promoting through the “exaggeration of unnoteworthy facts” You say? Ok. So up we go through to the facts.

NFT is a non-fungible token, a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. The NFT can be associated with a particular digital or physical asset and a license to use the asset for a specified purpose. (1)

Blockchain – interchangeable? Like You cannot change one NFT to other because every NFT has different value, because it is only prove of digital ownership of assets and every asset has it’s unique value. But (good?) news is that You can trade and sold it on digital markets if you find a buyer… for ownership of something that can be downloaded by anyone in this world, because … yes you can! You can copy/download a digital file as many times as you want, including all the art stuff that was bought with an NFT.

So what is with this whole NFT ART world?

First only we saw hype for mems and rare digital stuff which still sounded like onlyfans, but then the “names” got involved, still within onlyfans vibes Cara Delevingne has teamed up with the artist Chemical X to create art video – digital asset about her vagina, as We know sex sells harder… but thanks to the Cara’s mindset all profits went to her foundation. When it all still sounded very suspicious the games was only starting, new player get involved Christies and other well know “art brands”

Did it changed art market?

Tell me how, because I didn’t noticed or suspect big global changes, besides the hype and maybe creation in some minds that digital art is also an art and memes have ownership, it rather created the new form of digital ownership besides copyrights or digital documents. Like bitcoin and others crypto it’s worth is build only by humans involved.

LINKS & sources

THE VERGE “NFTs, explained”

The Guardian NFTs are helping artists solve a vital problem: who owns digital artwork?

Wikipedia NFT definition

Christie’s first NFT auction info

hellllo :)

trend & human research

colaboration/ reports

DEsign Lab