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RE: Why I'm so Bullish on NFT Art

in #leofinance4 years ago

Piracy is a lost battle, there is no winning against people doing what they will do. As far as combatting forgeries and plagiarism, that's done by manually onboarding and reviewing each artist and then collaboratively policing the platform with the team and other artists that don't want to see their work devalued by allowing theft on the platform.

What isn't disputable when we bring NFTs into the equation is ownership. The artist mints a specific number of tokens which creates the scarcity of ownership and is the basis for valuation from buyers/investors. While anyone can hypothetically just right-click download any image or pirate any music or movie, they won't have the digital "certificate of authenticity" so to say.

Like imagine every poster and digital image of Starry Night. Obviously Van Gogh didn't make all of those, he made a single painting. The rest are all copies and forgeries. Which one is going to be more valuable? The original that is irreplaceable or the random posters and knickknacks that you can buy for a couple of bucks. There's a really good article by SuperRare that takes a much deeper dive into this topic if you want to check it out.

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On SuperRare, each tokenized artwork is created directly by the artist, using their cryptographic keys to create the NFT. Thus, it is the artist’s intent that the original, collectible, digital artwork is the token. Yes, anyone can download and view the image for free, but they don’t own it and they can’t gain any value from it without owning the NFT as well. As a collector you want as many people as possible to be downloading and enjoying the artworks that only you provably own because this is how the artwork gains value. Imagine if one million people around the world were featuring an artwork that only you owned on digital frames in their houses. THAT is a piece of art that has real value.

I disagree with this statement. If the idea of it can become popular and the veracity of this statement can be validated enough times in the right circles of people - then that is what creates the value of this way of thinking about art and that is what generates the value of an NFT. The concept itself is refutable.

But we're not living in a logical world... as much as we'd like to think.

I suppose I am going to go cover myself in mud in the lake and claim to be part of natural law. I don't want to be a part of the new world. 😂