I'm sure many have followed the NFT art saga over the last couple of months and seen today's headline that somebody just paid $ 69,346,250 for a NFT on a blockchain, meta-data to claim ownership of the "originalcopy" of a digital art work.
https://onlineonly.christies.com/s/first-open-beeple/beeple-b-1981-1/112924 I don't want to start a discussion on the revolutionary vs reactionary character of this emerging art market. All of that has already been said. If you want a close approximation of my perspective, I refer you to this: https://everestpipkin.medium.com/but-the-environmental-issues-with-cryptoart-1128ef72e6a3 What I'm more interested in here is to ask two things. What -- after a decade of quantitative easing and crypto-currencies rising into the stratosphere -- monetary value is indicating for the segment that profited the most from these developments and what does that mean for the rest of us? And, assuming that this is not a cartoon version of a potlatch where wasting resources serves to put rivals to shame, how many different scams -- money laundering would be an obvious contender -- are being layered on top of one other to create this? Quite puzzled. Felix -- | |||||||||||||||||| http://felix.openflows.com | | Open PGP | http://felix.openflows.com/pgp.txt |
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