shrugbread- NFTReading

The NFT phenomenon is as fast moving as it is possibly destructive. We can’t talk about NFT’s without realizing it’s stem from the old fine art world. An art world filled with statements like “oh I could do that” with the only thing stopping people being the fact that they could never get a gallery to sponsor their work. NFTs eliminate the monolithic ideal that art world presence makes art valuable. If a random person’s work was placed in a museum with a completely unfounded artist statement hangs by the piece will be seen and critiqued and sold, subsequently giving the artist success. NFTs eliminate the middle man and is where my middle class concern comes in. Yes, there will be droves of people who will begin to make money for whom this will be the first taste of them making any sort of money from their art. Many artists stand to gain from this. However in the depths of the internet millions will be buried. Not every NFT will be bought, and many artists will use their last 100,200,300 dollars on gas fees. Small artists will blow up and be used as a tool for people with millions to spare to have protected assets. We are also seeing the apathy expressed in the NFT community regarding the environmental concerns surrounding more unsustainable currencies like Etherium and Bitcoin. For pretty much everyone, money now is better than money later. Not enough people are waiting for Proof of Stake to become fully viable and just as the purpose of crypto began, get in while NFTs are still “small”. This all doesn’t even approach the possibility of the NFT bubble bursting.