For more than six months in the world of contemporary art in Romania and everywhere there is a small talk about NFT Art. As we are not all familiar with this notion, we thought to find out more directly from the source. So we went to ask Costi Arghirescu, one of the founders and oldest people in CryptoCoin.Pro, a start-up initiated in 2016 that works with ICOs, FIAT, NFT and crypto currency.
What is an NFT? And what is the connection with art? So how do you get started talking about NFT Art?
The best is an example … This year a digital work of art was sold for the equivalent of $ 69m USD – but the winner of the auction did not receive a painting, a sculpture, not even a print. In exchange for the amount paid in the auction, he received a unique digital token, known as an NFT (Non Fungible Token).
Broadly speaking, an NFT is a unique, indivisible object and can also be considered a certificate of ownership and authenticity. As a recommendation, in order to understand the phenomenon I could mention here the origins of NFT. It was initiated by a community whose main activity was the collection and exchange of various figurines, those well known in the USA collectibles.
Do you think NFT can change the overall view of art? Do you expect it to have an impact at least the same as the one at the start of 2021 in the near future or is it just a trend?
As with any innovative thing, skepticism predominates in the first phase. Only in some, with well-defined audiences will NFT Art continue to be successful. As time goes on, art houses, artists, galleries and other operators will surely adopt the new technology. Unlike traditional mode, NFTs allow global audiences, fast transactions and advanced security. I think it can add a plus, obviously if used properly.
Who is NFT Art accessible to? Artists? The public? Investors? Who and what gains from NFT, what does it bring in addition and what are the risk factors regarding NFT Art.
Anyone can buy an NFT quickly, so it’s super affordable. In fact, it is an upgrade of the existing market, transposed into digital mode, but different as before. The obvious advantage and plus is that it allows a huge number of participants, whether they are artists, investors, art lovers to be part of this wonderful world.
Do an imagination exercise and tell me what an NFT Art Museum would look like (and if there will be one).
It can be digital or physical. Works of art can be exhibited in a virtual environment, through VR technology. It can also be organized in a traditional setting, the exhibits being designed in 3d or 2d. Maybe here we find the intersection between the two worlds.
Can NFT Art and Blockchain technology currently be considered a counterculture?
Culture is constantly changing. We don’t know how it evolved, stagnated or regressed. What is certain is that it is always changing. Writers no longer mainly use pens or typewriters, but write on blogs, websites, and often send their raw work to digital publishers. In the art world, part of culture, things have changed and continue to change. It is difficult to make an objective diagnosis now. Probably time will tell and explain whether or not we live in such a counterculture.
More importantly, it seems to me that an NFT is not necessarily represented by an art object, it is a 100% exclusively cultural thing. It can be anything, from a poem, to a musical score, a building. I’m wondering if a tree can be NFT! I will answer next time.
Finally, to be subjective and answer your question, I certainly don’t think counterculture is. It is, however, a personal opinion. Given the fact that the number of artists, investors, etc. in the industry will increase exponentially, it is very possible that NFTs of dubious quality will also appear, in contradiction with the philosophy and ethics of art.
I challenge you to work with you in the future and we will see exactly what it is about and how things will move.
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