Anyone Making NFTs?
3yr
Marc Spagnuolo
Just curious to see how many here are jumping in on the NFT market. What do you all think about NFTs and how are you using them in your work?
It has been very thoroughly covered in the past months why you should _not_ do it - at least not now, not until the many very serious issues with it are fixed. The facts that it is extremely damaging to the environment, that it's a gimmick that borderlines a scam, and that it's built like a pyramid scheme where a very few people make big money while everyone else loses money are only the three biggest problems to name.
This article does a very good job summing up the problems: https://everestpipkin.medium.com/but-the-environmental-issues-with-cryptoart-1128ef72e6a3
Then there is also the rampant plagiarism and art theft of people turning other people's works into tokens and selling them without the actual creator's permission or knowledge.
I personally think the entire idea is nonsense and is nothing but a money grab scheme for the NFT platforms because it tries to solve a non-existing problem: it is based on the premise that digital art being infinitely reproducible is somehow bad and that we must manufacture artificial scarcity and that's the only way digital artists have "freedom".
But as a digital artist who lives from his art, I see that as complete backward thinking. Literally the opposite of all that is true. Reproducibility is not a weakness, it is a strength. It allows me to utilize my art in many ways, from selling my own prints and merch to license it for use. I do not need any middle-men (such as NFT platforms, or galleries for traditional artists) to do these things, I can do it all myself. I literally could not have more freedom in how I use my art. I can also sell commissions. And if I really want to create artificial scarcity, all I need to do is make a limited edition premium print run that I hand sign and number, and it does exactly what NFTs do, except does it simpler, cheaper, and in my opinion, much better. And if you buy a print, that's physical, tangible, and definitely yours - meanwhile NFTs usually link to content stored on the platform so if the platform goes down one day, all those tokens become very expensive digital paperweights.
Just to be clear, I'm all for innovation and smart technology. I'm a digital artist after all, also doing 3D modeling and a little programming and webdev. I want to make sculptures using a combination of 3D printing and traditional sculpting. So it's not that I'm against things that are new or very technological, not at all. Quite the opposite, it is my familiarity and experience with innovative technology, and research into how crypto-currencies and NFTs work that tells me that crypto art is just a really, really bad idea. Even if you insist on creating artificial scarcity digitally, this is a very bad way of doing it.
Also, if you don't trust me, watch the Draftsmen episode where Stand and Marshall talk about crypto-art.
I tried it once on one of the more environment friendly platforms, because I was curious. I am really into SiFi and I can imagine how the world will develop more and more into the VR direction and so I wanted to see what is happening and can be happening in a few years.
But for now and for me I think it is time to wait, because I could not find a platform that is as environment friendly as possible while having active users, easy minting method and an intuitive interface/serach and so on. I don't know to me it feels all to early to being an option. But this a very subjective opinion, I don't know much about this big theme.