To NFT Or Not To NFT
Art by Magdalena Takac
What the heck is going on with NFTs? Are they a viable avenue for artists to sell their art? Are they just a purely speculative market? Or are they a bubble waiting to burst? This week, Jake Parker, Lee White, and Will Terry do a deep dive into the NFT craze and give their honest opinions on the digital trend.
Tom Shannon last edited by
I'm not sure about all this in terms of artwork. If I had the money to spend, I'd rather buy an original Picasso. I guess, for me, it's the high value placed on an NFT I'm struggling to accept.
In listening to the podcast I couldn't help but make a comparison to those people who pay significant sums to get OG e-mail, twitter etc. addresses
BenR last edited by
I made it to the end! And to Jake and Lee, it was a good episode, haha
That being said my friend convinced me to throw some art up as an NFT and while it hasn't sold I think there are definitely some benefits to them, especially for artists making animated art, which is kind of in my plan going forward to explore being able to add a little animation to my pieces to be sold as NFT's and still maybe be able to sale the images as prints or something.
Asyas_illos last edited by Asyas_illos
This is so bizarre to me! I am very anti-computer anything, not that I dont like it, it is just very difficult for me to get going with something. I just started digital illustration with my iPad and procreate,I can also do email text and some social but this just sounds so crazy I cannot wrap my brain around it! I am only 34 lol call me old fashioned
This article on artnet.com is a compelling case to register one's work as a NFT.
A Collective Made NFTs of Masterpieces Without Telling the Museums That Owned the Originals. Was It a Digital Art Heist or Fair Game?
But I believe creating NFTs are only worth pursing if you're already famous.
Kim Hunter last edited by
NFT money like sugar plums dancing in our heads. The environmental issue is that crypto-everything, coins or art, requires a continuous and large amount of electricity to exist. While everyone is blaming climate change on cows that have been domesticated for thousands of years, the current carbon footprint of streaming videos from cats to Disney and Netflix, equals the carbon footprint of agriculture around the world. Food or Mickey? Quite the dilemma. Money can't buy happiness but it does buy things that make us happy. Does the somewhat weird human desire to own things for the sake of saying they own them buy as much happiness for the creator as the joy in a child's heart when they open the picture book you illustrated and discover a new world?
Kasey Snow last edited by
My brother is super into buying and selling sports memorabilia on ebay (baseball cards, jerseys, etc) and this whole episode reminded me so much of that. My bother talks constantly about how the entire collectibles market is unstable because it is only worth what someone is willing to pay for it.
The people who drove the market initially were buying these things for nostalgic value because it's stuff they had as a kid. But as these people are dying, the market for it is literally just being driven by collectors like himself who are buying and selling as a kind of mini investment hoping that it will be worth more to someone later. The initial thing that gave them value in the first place (i.e. the nostalgia of getting a little card on a crackerjack box of your favorite local player) is vanishing. There are a lot of questions about whether or not the market will crash as people who don't actually care about these high value nostalgic items get "stuck" with them.
All of this seems to have a lot of parallels with the NFT market as you've described it. It's essentially a collectors market being treated as investments. Curious to see how it plays out, but I don't think I'll be jumping in just yet.
erinrew last edited by
I was a NFT noob going into this podcast and now I feel informed on NFT’s and cryptocurrencies... ask me anything. Just kidding, I still know nothing. Great podcast as always! You guys crack me up.