How the Art World Learned to Love NFTs, Franz W. Kaiser & Marie Noel Rio (Le Monde Diplomatique)

See Hoxxoh’s work: Superchief Gallery NFT, New York, March 2021

Timothy A Clary AFP Getty

n 11 March 2021 Christie’s has sold non-fungible token (NFT) artwork by American digital artist Michael Winkelman aka Beeple. Daily: First 5000 daysAfter an auction that started with a bid of just $100 lasted 14 days and nearly crashed Christie’s website, it sold to an anonymous buyer for $69.3 million, according to a living artist sold at auction so far. It became the third most expensive work.

This is a collage of 5,000 digital images created and posted online by Beeple, one per day starting May 1, 2007. Individual images are less evocative. It has an apocalyptic aesthetic that is sometimes inspired by pop culture and its overall artistic content. One image a day he equates to the simple concept of 5,000’s his today A series of paintings for the current date.

Beeple sells JPEG files, a type of file widely used online, which can usually be reproduced for free indefinitely. So how did you come up with such a high price?

Besides the fact that this is the first purely digital art offered at Christie’s (the novelty attracts collectors), there were two main reasons. The work is sold as his NFT, guaranteed by blockchain (a peer-to-peer network that records transactions on a decentralized, tamper-proof electronic ledger), meaning it is as unique and irreplaceable as Rembrandt’s paintings. it was done. And ahead of the sale, Christie’s announced that it would accept payments in cryptocurrencies, in this case Ethereum, for the first time ever, with the buyers being two of his Indian investors who developed the technology that powers Ethereum. It became clear.

Uniqueness is the key difference between a work of art and a mass-produced product. On the art market, sellers offer unique objects whose authenticity, the fact that they were created by a particular artist, is beyond question. At least in principle — (…)

Full article: 1 480 words.

Franz W. Kaiser &

Marie Noel Rio

Marie Noel Rio is a writer, Hambourg Hansaplatz no 7, quatre ans dans la misère allemande (No 7 Hansaplatz, Hamburg: Four Years Among the German Poor, Delga, 2021); Franz-W Kaiser is an art historian and exhibition curator.

(1) A consensus algorithm is a computer science process used to achieve agreement on a single data value among distributed processes or systems.

(3) Andy Warhol Andy Warhol’s Philosophy: From A To B And From A To B Again Harcourt, New York, 1975.

(Four) See Riah Pryor’s Cryptocurrency Collectors Beware: Why Online Wallets Are Increasingly Vulnerable to Theft. art newspaper, London/New York, March 18, 2022.

(Five) guardian, London, June 18, 2022. How the Art World Learned to Love NFTs, Franz W. Kaiser & Marie Noel Rio (Le Monde Diplomatique)

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