NFTs appear both a capitalist stunt and a great tool for digital art

LAST month, somebody bought a 10-year-old animated gif of a flying cat for over half a million dollars. It isn’t some symptom of pandemic panic, neither is it a fresh scam. Instead, it really is all thanks to a little little bit of code called a non-fungible token, or NFT, that gives an internet solution to an extremely internet sort of problem.

The problem is that art gains its value from being unique, however when you can download anything online, suddenly art doesn’t seem to be so valuable. The answer is the NFT, a distinctive digital token associated with an image or video file …

Leave a Comment