Kicking off an occasional series on random views of Non-Fungible Tokens (NFTs), which exist in an environment antithetical to their aspirations, which is a singular, even unique existence. Search UMB on ‘NFT’ for my evolving thoughts on the matter.
From WaPo, covering an art exhibit of NFTs in San Francisco, where wearing Metaverse-style goggles isn’t just de rigeur, but actually required to see the art.
Are the images on display at Verse art, money or both? [Verse founder Ray] Kallmeyer freely admits that some NFTs — like the Bored Ape Yacht Club’s primate illustrations, two of which are on display at Verse — are not aesthetically pleasing. “I don’t think anyone is looking to put a Bored Ape in their bedroom,” Kallmeyer said. Owning a Bored Ape NFT, which can set you back $235,000 to $2.8 million, is more about the status that comes with it (like being part of a virtual country club, Kallmeyer said) than the visual appeal. Kallmeyer likens the popular BAYC [Bored Ape Yacht Club] to the Dutch tulip mania of the 1630s. Eventually the bubble will burst.
I cannot help but notice that the Dutch tulips on offer eventually died and returned to dust, while NFTs, at least within my hearing, do not have a limited lifetime.
Neither does the Mona Lisa.
But Mona’s relatively hard to copy, compared to any NFT.
And then there’s owner doubt:
For some potential buyers, the fact that NFTs can only be displayed digitally (on a phone, on the Web or viewed through a virtual-reality device) causes them to pause. “I don’t know if I’d want this,” said Jorelle Jones, 40, “it’s not the same as my art on the wall.” Jones likens his night in the metaverse to the experience of playing Atari as a child in the 1980s versus what it’s like to play video games now. He’s waiting for the technology to advance. “It’s cool now,” Jones said, “but it’ll be cooler in 50 years.”
