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> Of course there are other ways to meaningfully own the digital artwork, you listed some in your response: By my count you listed just one - owning the copyri
by miracle2k 5y ago
> Of course there are other ways to meaningfully own the digital artwork, you listed some in your response:
By my count you listed just one - owning the copyright. But as I said, while owning intellectual property is certainly meaningful (and can be valuable), it is not art collecting. There is a reason why there exists no art market where people are trading copyright claims.
As a collector, I don't want to be in the business of managing an intellectual property licensing enterprise. Yet, I want the artwork I own to become a well-known, celebrated cultural object; the artist also wants this, and thankfully - incentivised and empowered by still owning the copyright - will try to manage their career to achieve this.
We can all agree that crypto lends itself to rampant and unrestricted speculation / gambling, which attracts all kinds of people looking for a cash grab or get-rich scheme. Those speculative bubbles have been going on for years, and in all likelihood will continue. It's an issue that artists and collectors in this space are struggling to deal with; people don't like that new releases are sold out in minutes, because flippers and their bots think they can make a profit (this is not dissimilar to event ticketing issues).
However, artists who have experimented with blockchain 10 years ago, were not looking for marks to scam. While pics of lions will go up and down in price, and people who bought even respectable art at the height of the bubble will be looking at a loss in resale value, this market will not disappear; it provides a product that artists and collectors find useful.
I am not of the opinion that this will be as world-changing and all-encompassing as web3 proponents proclaim. Art collection is a niche in the real world, and it will be a slightly larger niche in the digital realm.
- grey-area 5y agoCreating something is distinct from owning the copyright (though many jurisdictions automatically assign to creators unless otherwise assigned). For example illustrators for hire immediately assign copyright to someone else, so these are distinct. The art market is a racket entirely divorced from value, if you want to emulate that, good luck to you, but know what you're getting into, the comparison with the manipulated and celebrity led current art market is entirely unflattering to NFTs as it shows them up for what they are - a get rich quick scheme. I think this market will disappear when the cryptocurrency bubble bursts, which seems imminent now it has mainstream attention again and with the coming withdrawal of stimulus.