NFTs are riding high right now. Some collectors see them as safe investments. But with the world moving so fast, maybe it’s too soon to say.
By Maurice Gouiran
Exposition et vente de NFT commissariée par Pau Waelder sur la plateforme en ligne Feral File.
An NFT, or Non-Fungible Token, certifies ownership of a digital asset that is unique and non-interchangeable. Many people considered NFT collectors a bit daft – until 11 March this year when Christie’s auctioned a virtual artwork by Mike Winkelman, alias Beeple, for 69.3 million dollars. The work is a giant collage of 5000 digital artworks produced day by day over more than 13 years. That groundbreaking sale introduced the public to NFTs, their place in the art market and their distinctive nature. Distinctive because what is sold is not the piece of art but its dissemination. This blows to smithereens the traditional process involving artist, gallery and buyer. But is it just a passing fad? A speculative bubble? Like cryptocurrencies, NFTs have spread fast, prompting much speculative buying and a new market in popular culture derivatives; anyone can buy an NFT! In June this year, Equisafe and the association Pour Que Marseille Vive introduced the first NFT for a physical artwork in France. They offered joint ownership of a work by Marseille artist Deniz Doruk to almost 150 visitors. Their idea was to democratise access to art. In another local example, the Ethereum blockchain has “tokenised” the Olympique de Marseille soccer players through the fantasy soccer game Sorare. So you can buy a player as a digital collectable. This should help to boost the OM brand and bring it some revenue from licencing on the blockchain.