Some Thoughts on NFTs
A new iteration of the internet - Web 3.0 is alive and well and with it the phenomenon of NFTs:
Non-Fungible Tokens - digital files (image/audio/video) which are minted on one of several blockchains and bought, sold and collected by enthusiasts.
Above is one of 10,000 iterations of the CryptoPunks NFT, released in 2017 - image courtesy of www.cnet.com
If art is meant to move or cause some feeling within you, good or bad, I admit I am yet to be bowled over by any NFT I’ve set eyes on.
That’s not to say I don’t find the movement interesting. The passionate community, the very transient popularity of each asset and the continued anonymity of Satoshi Nakamoto (the inventor of blockchain technology). All of these pique my interest, but any curiosity I have comes from somewhere different within me than the love I have for other, more traditional art forms.
How I would describe visual art:
An individual's expression of the sum of their own experience. It represents what they have learnt, have done, have seen and have felt. Every sly comment from a bully at school decades ago and positive reaction to a kind gesture yesterday. Every physical scar or deformity they have which hinders their movement just slightly all contribute to the marks they make either directly with their body or indirectly with the use of a brush/other tool. These constituent parts and more affect A. The individual’s motivation and willingness to create and B. What they create. They are what make the end result unique and valuable.
I find NFTs, for all their utility, lack some of what I consider the necessary contributing factors for great art. Historically, even the most minute physical or neurological eccentricity that affected an artist’s method of applying marks to a support - are now irrelevant if the user is simply typing in keywords to programs like Midjourney.
The Metaverse - the name given to a new, immersive digital world enabled by Web 3.0 technology. image courtesy of www.intuji.com
The popularity of each digital asset within the mataverse comes and goes as trends do - nothing new obviously - but this volatility could be a reflection of an online world built on quick fixes and distractions. I am also guilty of being side-tracked by new, flashy things, though.
The question is; what does the metaverse and Web 3 mean for traditional creative fields? After all, these creative fields have always embraced the challenges of innovation.
I think we will see a continuing split between the physical world and Web 3. Early adopters; those who are already comfortable navigating the metaverse, will have no reason to jump ship but I think most people will resist it.
The shift the world experienced 30 years ago with the gradual adoption of the internet/Web 1 and then Web 2 in the early 2000s will be nothing compared to the changes coming with Web 3. For that reason I think the transition will take far longer.
