Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: RSRS on July 17, 2021, 07:13:17 AM
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Damien Hirst, a contemporary artist known around the world, talked about similarities and differences between artwork and fiat currency as he prepared to drop 10,000 NFTs tied to his physical paintings.
Speaking with Cointelegraph’s Andrew Thurman at his London studio in May, Hirst answered questions in a magic 8-ball fashion, by opening up one of the boxes containing hundreds of sheets of his The Currency artwork collection and reading a sentence off the back of the paper. Though the immediate answers were not always on topic — is Satoshi really a cliche? — the artist laughed at the absurdity continued to voice his thoughts on money and art.
In particular, Hirst said people believe money has value because it gets “a little leg up with art,” an argument similar to what many critics have discussed about social media pumps and dumps of tokens: some prices only rise because of inflated value driven by high profile figures, i.e. giving a project a little pizazz. The artist said he would “love it” if someday someone were able to use his The Currency artwork as actual currency given its value as a nonfungible token, but believes most people will choose to keep the physical painting. With this view, he still sees the technology as eventually revolutionizing the art world.
“I just saw [NFTs] as a really amazing thing,” said Hirst. “I saw it like the invention of paper.”
More information (https://cryptonews.net/en/news/nft/1081521/)
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In-game items are represented by NFTs, or non-fungible tokens. These cryptographically unique tokens can be linked with digital content; in Axie Infinity's case, the Axies and land plots that populate the game. Unlike conventional in-game items, the NFT confers ownership on the buyer; you can trade Axies on the game's marketplace for real money.