non-fungible tokens have sprung onto our feeds recently, claiming to be the next big thing. But is this an online populist uprising or just an environmentally destructive fad
For confounded critics, whether you’ve paid $11 million for a series of numbers on a blockchain or a simple picture of a pixelated punk is a moot point Fans of the format argue that NFTs represent a populist uprising against traditional art world gatekeepers and provide a source of income for digital artists who never had “original” art pieces to sell. Naysayers think this makes little sense because ultimately people are just trading expensive addresses on complicated, surprisingly environmentally destructive blockchains, and that the market is eventually bound to collapse.
You have people identifying with cool cats and sneaky vampires and bored apes. . . A lot of it comes down to a generational thing Darren Caffey, a Limerick-based artist and writer, believes the investment frenzy around NFTs has a stultifying effect on the actual creativity. “I’ve always been interested in ‘value’ in relation to art because you’re kind of always creating something out of nothing when you make art. Whether you sell it or not, it has value for you at the end of it that is distinct from ‘profit’. Profit is something that comes secondarily.
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