The NFT Art World

J

juliart

1-1-58-696x423.jpg
https://usaartnews.com/news/the-nft-art-world
 
As far as I understand it, very questionable.
And that goes for both NFT's and cryptocurrency.
Huge amounts of money involved, very opaque who is pulling the strings, difficult to impossible to trace. More than enough to raise my suspicions...
 
I don't understand flowercat. How are NFTs and cryptocurrencies bad for the environment?

I also don't see the correlation between NFTs and cryptocurrency. They are very different things. Investing in Bitcoin is not really different than any other stock. An NFT is a type of art/image that people feel is as valuable as an original painting (for whatever reason), but that's their prerogative, I guess.
 
Artyczar said:
I don't understand flowercat. How are NFTs and cryptocurrencies bad for the environment?

I also don't see the correlation between NFTs and cryptocurrency. They are very different things. Investing in Bitcoin is not really different than any other stock. An NFT is a type of art/image that people feel is as valuable as an original painting (for whatever reason), but that's their prerogative, I guess.
Click to expand...
I am not good at explaining things myself, but here are sides i found explain it very well. Like this one.

www.nftsstreet.com

How are NFTs Bad for the Environment? - NFT's Street

If you’ve recently heard talk concerning NFTs or Non-Fungible Tokens, but aren’t exactly sure what everyone is talking about, you are not alone. While NFTs have technically been around since 2014, they did not hit an extreme spike in popularity until the past year. What is an NFT? If you have...
www.nftsstreet.com www.nftsstreet.com

The main issuses are the large amounts of carbon released when trading, selling and controlling these nfts.
Also the big amounts of often not clean produced energy (through things like coal ) which also isnt good for the environment.
I personly think there are better ways to share and sell art, that have less environment impacts.

I think Nfts where just created to make money, not to benefit artists or art
 
I read this and get it. Lots of power is used to keep NFTs and crypto alive. Lots of power is used to keep the entire internet alive too. Just saying. More than enough to keep a few larger countries going. The stock market uses electronic power too. We all make a footprint. We are all guilty. But I hear you about NFTs seemingly being there to trade incredible amounts of money for nothing. I guess I don't have much of an opinion about it because I can't do anything about what happens in the world and/or with art. I have to accept it, or something? 🤦‍♂️
 
They don't want art. These "art collectors" are investors who are opportunists looking to make a profit. That is a legitimate reason to invest in something. But this guy destroyed a $10 million dollar painting to create 10,000 Non-Fungible Tokens that he hopes to sell for more than $10 million. May he rest in peace.
 
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