{"id":1697,"date":"2021-03-22T11:20:33","date_gmt":"2021-03-22T16:20:33","guid":{"rendered":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/?p=1697"},"modified":"2021-03-22T11:20:33","modified_gmt":"2021-03-22T16:20:33","slug":"monday-nft-reading","status":"publish","type":"post","link":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/monday\/03\/22\/monday-nft-reading\/","title":{"rendered":"Monday – NFT Reading"},"content":{"rendered":"

This movement towards NFT\u2019s by new media artists starts to feel more and more like a byproduct of a broken art market, and it\u2019s more than understandable why some artists sell NFT\u2019s, despite the environmental costs. I was honestly\u00a0 shocked by the statistics listed in the Flash Art article about the demographics of today\u2019s most successful artists in the auction market. Chances are, if you\u2019re not a white male from an extremely wealthy and privileged background, your chances of success in the traditional art market is incomparable. Thus, I can\u2019t help but be sympathetic and supportive of these artists.\u00a0<\/span><\/p>\n

However, it is impossible to ignore how unstainable the market is, and to what degree it can harm the environment. This problem is at the fault of how the value of proof of work cryptocurrency is determined to begin with, and its energy consumption is increasing with no end in sight. I can\u2019t imagine a successful and sustainable future with a cryptocurrency-based market for art, especially with a proof-of-work model.\u00a0\u00a0<\/span><\/p>\n

Lastly, I\u2019m skeptical of the current NFT market, especially in regards to art theft and frequent themes in the art being sold. As stated in a couple of the articles, transparency is a major issue in this virtual market. A lack of accountability in art theft and a rise in sales in NFT\u2019s such as tokenized tweets raise questions about the future of this market. Additionally, the disconnect from the rest of the contemporary art world and these NFT\u2019s, with a large number of NFT\u2019s focusing on brightly-colored 3D animations of sci-fi environments strangely enough,\u00a0 also make it unclear how they are in relation to contemporary art now and in the future.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

This movement towards NFT\u2019s by new media artists starts to feel more and more like a byproduct of a broken art market, and it\u2019s more than understandable why some artists sell NFT\u2019s, despite the environmental costs. I was honestly\u00a0 shocked by the statistics listed in the Flash Art article about the demographics of today\u2019s most … Continue reading “Monday – NFT Reading”<\/span><\/a><\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,22],"tags":[],"class_list":["post-1697","post","type-post","status-publish","format-standard","hentry","category-06-nftreading","category-deliverables-06"],"_links":{"self":[{"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/posts\/1697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/comments?post=1697"}],"version-history":[{"count":1,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/posts\/1697\/revisions"}],"predecessor-version":[{"id":1698,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/posts\/1697\/revisions\/1698"}],"wp:attachment":[{"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/media?parent=1697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/categories?post=1697"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.courses.art.cmu.edu\/2021s\/60210a\/wp-json\/wp\/v2\/tags?post=1697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}