You'd think that the NFT would be more valuable with the real-life counterpart also existing. But no, now this $10 million artwork gets a renewed chance to die in obscurity.
Nobody is going to burn a $10M anything, if they can burn a replica.
If you burn the real thing and not a fake, exactly the same set of gullible people will believe you as in the fake scenario, and getting people to believe it is pretty much the entire point.
the art markets never make "sense" anyway, with or without crypto. The artist Kahlo had a vivid and intense life, including huge social moments, publicity, travel and the fun of dining, music and seeing the works of other great artists. Artist Kahlo transferred and recreated those influences into new arts. None of the unpredictability or emotion of that life is present in daily finance. Finance revolves around scarcity, control and restriction. So finance yearns for its inner psychological opposites in something they can buy. It really is strange. Many artists works are destroyed by their own lives and ordinary circumstances. This item (I don't know the details) was captured and saved and became some kind of monetary unit. This article (obviously) wants to show the wasteful, useless side of crypto as opposed to the .. lets say it together .. scarcity, control and restriction of the physical item, which apparently was "worth" this amount of money somehow. Says who? where are the lives and spirits that make art ? nowhere in the equation.. money exchanged between owners of money, with art representing the poker chip.
as an artist, I can see the value in Banksy more than the villification of some random crypto dude. The work of Artist Kahlo lives on in so many ways..
We all just spent at least ten seconds thinking about his purchase. In aggregate, this is ten or one hundred times more attention we would have paid otherwise. Is that worthy of $10M? I doubt it, but that's that experiment, and he will probably sell the actually artwork for more now that the stunt has been investigated by the Mexican government. Mission accomplished.
13 comments
[ 3.0 ms ] story [ 38.2 ms ] threadNobody is going to burn a $10M anything, if they can burn a replica.
If you burn the real thing and not a fake, exactly the same set of gullible people will believe you as in the fake scenario, and getting people to believe it is pretty much the entire point.
They don't.
as an artist, I can see the value in Banksy more than the villification of some random crypto dude. The work of Artist Kahlo lives on in so many ways..