How NFTs Are Invading the Art World

The art world is a nebulous environment of deep-pocketed financiers with little regulatory oversight, which has made it a favorite for the wealthy to speculate, at the expense of starving artists. Now the world of NFTs promises to disrupt this system and reward artists fairly. But is that just a cover for even more speculation?
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[@ashybury]

As a starving artist working as an art teacher struggling to get into galleries I couldn’t watch this, it filled me with dread lol

[@Bayplaces]

Most artists experimenting with NFTs are not getting in. If you feel bad, I recommend a video called “The line goes up - the problem with NFTs” by Folding Ideas.

[@SpaceRanger187]

if you think you should make money on the 2nd sale you need to have your head checked..

[@coreyshack6508]

@@SpaceRanger187 if you have a small mindset then say that you get royalties on NFTs you made and sold you look up to vice you will forever be mind fucked...

[@pineapplepenappoodlepen]

I have a masters degree in art but never felt like I belonged in the traditional art world, being one of the pioneers of digital image creation in the early 90s. Now there's a place where I can thrive and nothing needs to make sense. Don't be afraid.

[@Bayplaces]

@theo goodman no, all his points about link rot, rug pulls, and the calcification of the old market taking over crypto while acting like it isn’t calcified are all extremely valid points. Bunk few sentences aren’t going to debunk Dan at Folding Ideas. Better luck next time newb

[@josephk1342]

Lol hilarious listening to a guy talking about how NFTs are democratizing art from his 5 story Manhattan home. The only people getting rich off this are people who were filthy rich to begin with.

[@DaRadicalCavy]

Exactly. Most of us can't even afford the mint cost if wanted to buy things never mind the items themselves.

[@marvinmejias.elsiervo]

that is not true. I am AN artist who came from Venezuela and grew up in poverty, but cryptoart changed my life.

[@LLLemi]

Exactly! LOL

[@zechariah3234]

@@marvinmejias.elsiervo us normal folk do not have access to the nft. Only the rich can afford nft.

[@thomasdriskill5254]

They are stealing your ETH for NFT. 💎👐 ETH

[@knownnuisance7512]

Absolute cringe People

[@1nePercentJuice]

I will never be able to understand how so many of us have been duped into believing any of this is legitimate. Believing it actually has real value. It's absolutely wild.

[@RimZeime]

Well the belief itself creates value, The same way gold isn't all that valuable unless people believe it is.

[@ericp4573]

@@RimZeime that’s the dumbest thing I’ve ever read. No, gold has value due to its utility and finite scarcity. Nft is not scarce.

[@mattlegier7408]

In the same sense tho.....all art is exactly that valuable....its all worthless.....this is gonna read cringe, but you kind of have to understand art as a whole, in order to see the value.....or collective lack thereof.

[@philipbreytenbach]

lol. wait till you learn about fiat currency.

[@TheMasterStudent]

@@ericp4573 its not dumb at all, you are just unfamiliar with the concept of value and how it works.

[@sjenkin88]

If the sole purpose for the 'artist' to make the art is financially driven, it neglects what makes art so special. Artist don't make art to get rich, they make it to express something. If that expression is greed, I don't want anything to do with it.

[@lucianodenobrega5319]

Feel the same way

[@LeBellmont]

That and most NFTs go right past other artists and just deploy an algorithmic "art" generator in the form of avatar customization. Heinous.

[@fieldofreeds8581]

Agreed

[@MPPG663]

They still have to make a living. And regardless of the heart in the painting, 5k vs 400k to someone who didn't make it is ridiculous.

[@rommelmilliam7746]

Never heard of Warhol i assume

[@Bayplaces]

At the risk of sounding like a gatekeeper, NFTs are not about art and the sale of them shouldn’t be considered art dealing or trading. It’s just a high stakes gambling market. People already highly invested in crypto are pushing NFTs as a way to launder money and pump the value of their own crypto holding.

[@eelalien]

ABSOLUTELY - SPOT ON!

[@savvyviral9681]

Art is anything that makes someone feel something! So if u feel something cuz of the stuff u see then it’s art lol. NFTs and buying art are the same thing!

[@BringerOfDeath12]

@@savvyviral9681 I just got hit in the balls and I feel pain. Is that Art?

[@jaelopez1397]

@@savvyviral9681 NFT’s make you feel something…

[@Bayplaces]

@@savvyviral9681 I love how people who couldn’t define art before getting into crypto and NFTs now suddenly think they can define art as “anything that makes someone feel anything!” It’s about pumping crypto. Link rot/swapping can easily kill an NFT. NFTs aren’t what people claim they are. They aren’t even receipts for pictures. They’re receipts for HTMLs.

[@Natureboy207]

Digital furniture 🤣🤣 imagine trying to sit on a digital couch

[@gian19791]

What if that nft has a backing with a real world nft

[@jairoherrera4040]

who knows when idiots are buying virtual homes

[@_JC_21]

Ngmi

[@Wolfsbane909]

like second life?

[@nudelpackung3622]

The system is different but the motivation is the same. Sadly the scammers probably profit more then the real artist.

[@donquixote812]

You mean like the art industry? Just saying haha

[@elizabethbaldwin]

probably?

[@Bedroom_Musician]

Exactly,,I feel sad for those artists who gives their 100% time energy and skill but got less than 10% of the revenue they made from their Million dollar artwork 💔

[@Wolfsbane909]

then that explains why its limited production

[@jeremymorrow9477]

I feel like I've seen this before. With vinyl collecting, it was a thing before the 90s, then CDs and MP3s became popular in the 90s and everybody said the only thing they need is the music, that the cover art and having something to hold in your hands wasn't important. People later got bored with the digital aspects of music and went back to physical collecting because digital got boring and didn't make you feel like you were close to, or part of, the product. I bet that's exactly what happens to digital art. Eventually people will realize that digital is boring and emotionless and switch back to physical.

[@constipatedlesbianamphibia7022]

I totally agree!! It sucks because I ask people these questions about the NFTs and they fully treat me like I’m a dumb fucken idiot…. I understand the whole thing, just don’t understand why people are buying these things like they’re cool. They’re not even cool. I don’t get it

[@PoboyMusic]

Nfts arent just art tho. The token can be used for many different things

[@NikoSitaras]

Vinyls came back but still aren’t even close to being the predominant way people listen to music.

[@victoriagore470]

@@NikoSitaras They meant, vinyls came back in terms of collecting, not necessarily to consume music.

[@victoriagore470]

@@PoboyMusic serious question. What are the many things? I was hoping Vice would have explained it in the video

[@Babyclownn]

Him trademarking NFTism speaks volumes

[@thessavanzyl]

I also thought that was an ahole move...

[@Solidude4]

Yeah that stood out for me as well. Screams 'money-minded'.

[@viralbuthow000]

I was waiting for him to say "I did it because I'm not dumb anymore."

[@angusorvid8840]

Ha Ha!

[@ChocolateMilkyYummy]

NFTs are manipulated. The same person makes 2 accounts and buys and sells nfts back and forth to themself to create the illusion that the price is rising.

[@vodkaboy]

the targeted marketing aspect is also obvious, all these people look/talk the same.

[@egyptianblue9355]

Yeah also somtimes they make millions doing it. Not by sales but by drops. The rabbit hole goes alot deeper than just trading for exposure.

[@YNGDYE]

Regardless, there’s money to be made

[@egyptianblue9355]

@@YNGDYE not much anymore if you were in in 2019 mabye it's too late the fact vice is even talking about it kinda shows that.

[@Vanpotheosis]

"art prices are manipulated" You didn't know that's how it worked the past thousand years? NFTs are just making it obvious since you can't hide the transaction history. It's recorded forever.

[@MC_Smuv]

If people were actually interested in the art itself, they would realize an NFT is still just a jpeg. Looking at the NFT does not differ at all from looking at the free jpeg. It's different with regular physical art. Looking at the real Mona Lisa is not the same as looking at a printed out version or a jpeg version of it. Hence there really is no benefit at all in owning an NFT apart from financial speculation.

[@lubaniskie]

You know that the mona lisa at the Louvre isn't even the orginal mona lisa? So I mean, a jpeg is a jpeg is a jpeg and capitalism is a snake eating its own tail no matter which shape it takes.

[@theWebmasterify]

Wrong, they would realize that an NFT is just a RECEIPT to a jpeg, and that they do not even own that jpeg most of the times. Check out Legal Eagle's video on NFTs and you'll realize how messed up NFTs are

[@MC_Smuv]

@@theWebmasterify I know that you don't own the rights to the jpeg. But that's not even different to physical art. If you bought the Mona Lisa you don't own the copyright either. The point I made is a different one. Digital objects just remain the same, no matter how often you copy them (meaning the jpeg some NFT owner has, isn't even visually different from what you could just righ-click download for free). Physical objects however cannot just be copied. An original canvas is not the same as a print-out of that canvas.

[@DK70707]

@@MC_Smuv that’s why I get so hung up on NFTs. If the media is the same across different platforms what makes it valuable? I have the same image you have. And it’s not even good art worth having lol. This is a giant scam

[@elliotw.888]

why do you have to position physical art as superior to digital art? many artists now create on digital mediums instead of physical ones; their work is not inherently less valuable than artists who use physical canvasses

[@Bedroom_Musician]

I feel sad for those artists who gives their 100% time energy and skill but got less than 10% of the revenue they made from their from their Million dollar artwork 💔

[@Tomanna]

A lot of Artists are making more money than ever If they are selling artwork for a million dollars, they can most likely afford to live

[@Aday442]

You know that artists can set how much they make on the NFT every time its resold right? Your point is invalid AF lol

[@Aday442]

Sleepy Joe lonewolf can't read

[@cancerino666]

It's only worth millions cause it's value is intentionally inflated to be useful for money laundering and tax avoidance. The artist is still making more at 10% than what the art is actually worth.

[@Bedroom_Musician]

@@Aday442 yes those business man are making money not the artist. It's really sad for some of the artist who get less than 10% of the market price

[@SheikYerbouti]

When was the art industry ever about art ? Whether physical pieces in galleries or digital pieces as NFT's ; the industry has always been, and will continue to be about transferring and washing dirty money.

[@bartlx]

so true

[@fredericoespinoza]

Facts

[@ducatipaso1386]

Physical media is easier to turn back into money...

[@aflameninja]

True but i feel like the old way through gallery didn't really affect anyone exept the rich and this whole NFT business feels like its going to scam a bunch of people looking for ways of getting rich quick, just like a large part of the crypto market. People will ruin their lives and that kinda sucks.

[@R.U.1.2.]

Shake Djoubouti--Maybe talk to Rembrandt or Monet about that. Dali and Picasso and the Dadaists would also be quite informative.

[@sebasmusician736]

if you look into Vignesh Sundaresan (even in the article at 19:21 says it) the guy created a "crypto-exclusive fund that specializes in identifying early-stage projects" called Metapurse... meaning that what the guy really wants is to create a company that buys NFTs, holds them, waits for the market to make them more valuable and sell them, that's why he got so weird when answering "are you going to sell it", he is not doing for the art, he is doing it to manipulate impressionables nerds into thinking they're part of this big revolution so they keep spending money into NFTs

[@trull122]

what a tool

[@neeneko]

I doubt he is actually all that interested in the NFTs themselves, but instead the coins behind them. NFT minting drives up crypto prices, and that is his real investment. Even if every NFT his company buys value drops to zero he can still cash out.

[@nelsonth]

Beeple is a partner with him in that venture... Talk about insider trading in a different format

[@playman350]

It sounds exactly like the people in the old art market conspiring to buy at a reduced price and sell at a premium.

[@cablevamp3163]

Hope he tips the economy

[@editorjohn8803]

People can't dump their NFTs fast enough right now. I smell a crash. One guy bought one for millions, and he can't sell it for thousands. Serves him right. Long term investor/ bagholder has been born

[@mattss7886]

Ngmi

[@kovy689]

Yup! Too bad.

[@crazychariotgrabber9085]

you going to buy the dip? or miss the boat ?

[@glitchmanshandle]

@@crazychariotgrabber9085 text me the dip

[@skeen0076]

NFTs have absolutely nothing to do with art whatsoever.

[@TheKodak111]

Of course it does.

[@camguy6224]

yes it does nerd

[@mohtx]

This guys smoking crack, stop watching vice and go do some research

[@akolyt]

it sadly does

[@sarssars-hm2ox]

I saw it now y'all can to Own your stuff so no one can use it. NfT your face 😈 Trademark your voice 👀 Copyright your DNA 🧬 Who's wearing the tin foil I'm not into useless metals

[@confuciuslola]

Seems like the people advocating for NFT's here are financially staked on NFT's.

[@Vanpotheosis]

Or they're just gamers that are buying skins and guns in games already and they want to have full control over their purchases from now on.

[@confuciuslola]

@@Vanpotheosis that's a good point. But do you really own it, if you're still dependent on the hosting service?

[@jackharold8379]

@@Vanpotheosis Yeah, companies are definitely going to reduce their own control for no benefit to themselves. Every game will also standardise on a set file format

[@Ruintek]

@@Vanpotheosis this is such a stupid argument stop it

[@hereticsshallbecleansed7245]

@@Vanpotheosis Explain. Because as far as I know csgo skins have been for trading and sale since before NFTs.

[@greenfoxes5903]

NFT art reminds me of Dutch Tulip Mania. Time will tell how similar it really is.

[@2011blueman]

all crypto currencies and NFTs are the modern Dutch Tulip Mania.

[@Stoney-Jacksman]

The whole system you live in - capitalism- is Tulip Mania

[@MrLegendra]

@@Stoney-Jacksman and your solution is communism right...because that has historically worked out perfectly lol

[@Stoney-Jacksman]

@@MrLegendra Why the hell would you think of communicism? Do you live in the 60s? Upgrade your brain please or stop talking. You are energy drain

[@koobea4859]

Great comparison!

[@fluxophile]

"Providing access" to pyramid-shaped, profit-seeking, hype-fueled economies have NOTHING to do with "getting artists paid" en masse. Ben Davis is 100% correct on every point. NFTs will not save artists. Most artists aren't even selling anything, because the market for digital art collectibles is completely fictitious. A few tens of thousands of crypto wallets currently hold something like 80%+ of the "market value" locked up in NFTs, the vast majority of which are generated PFP collections that the artists saw a one-time fee to produce with no royalties. Any artist who tells you that this is going to "revolutionize the art market" is probably just a temporarily undiscovered superstar waiting for their chance to be pulled up into the upper-echelon by generous millionaires. (Or, they're already famous, and see an opportunity to milk the rich for even more.) This. Is. A. Fantasy.

[@Bayplaces]

Yeah, NFTs are just a way to pump the value of crypto. Creates a spike in the cost of trading.

[@playman350]

I never thought I'd agree with an art critic

[@sirsnipermonkey]

It’s a reality right now. Keep up or drop off.

[@mattheww797]

So you don't want a NFT pulp fiction script.??

[@FredJeff-kh2wc]

Hello Greetings, sorry for the random approach .I was going through your page, and I found out that you have some interesting clean artwork pictures. I would love to buy a collection of your artworks as an nft. Message me if you are interested in selling all your artwork collection as an NFT.

[@BryanReeves]

I love Michael’s reporting style … wander cluelessly around a bizarre gathering and just ask questions. It’s working.

[@knowledgeman86]

Lol, I honestly think its not so much a style I think that might be his authentic personality. 😂

[@FredJeff-kh2wc]

Hello Greetings, sorry for the random approach .I was going through your page, and I found out that you have some interesting clean artwork pictures. I would love to buy a collection of your artworks as an nft. Message me if you are interested in selling all your artwork collection as an NFT.

[@mosquedasam]

washing money. it's so dam obvious.

[@onikaizer]

We traded real wash traders in the traditional art market, for wash trading in digital. That art dealer is so blatantly lying while saying it doesn't happen in the "NFT market". Another conman

[@BangBangBang.]

The scam known as NFTs invading the money laundering service known as art? Neat.

[@poweredbynato6313]

It is only the s...ker left holding the crypto or NFT... that loses... 🤣😂🤣😂🤣😂🤣😂🤣

[@phoenix5054]

IKR? Nothing of value is lost.

[@dfhdf4214]

you're conflating. an nft doesn't intrinsically have anything to do with art. it's just a virtually persistent signature. we use signatures and the concept of signatures in the physical world all the time. there are practical benefits for businesses to use nfts. done correctly we could solve a lot of issues in the signing of deeds and titles and even identification documents. in the physical world when something is forged there are no immediate alarms and people can then, while remaining in the shadows, sell say - your house - without you even knowing something was wrong. which means if the legal ownership of your house was tied to an nft (not a financial nft but purely the digital title, unlike how nft art currently operates) and a government department was put in charge of monitoring the movement of those nfts, there's a much better chance of finding and stopping fraud before the point of sale. in our current system there's literally no way to know there's a forged title or deed floating around until after the point of sale. thus increasing insurance rates for everyone. thus nfts could save everyone money. it's a legitimate new technology.. calling it a scam would be like calling phones a scam

[@guitarylife3062]

@@dfhdf4214 so your saying this practically is just an upgrade to ownership and has nothing to do with art.

[@dfhdf4214]

@@guitarylife3062 yes, its only connection to art is if an artist is digitally signing something and whether that digital signature has value is up to speculators and collectors

[@jw6422]

From the begining, high art(music, art, literature) has been a monetary commodity. So, nothing has really changed. It's just a new way that some can justify the obscene amounts involved in procuring said "art". It's simply about being the ONE who has the ability to do so and can prove it. Humans doing what they do to prove their status in society. This isn't anything new here folks.

[@Slai47]

"On this episode of No Fucking Thanks..."

[@matthewevans963]

NFTs and, crypto in general is just so remarkably stupid, I can't even put it into words. George Carlin said it best; "we're circling the drain folks... and the circles get smaller and smaller, faster and faster... and then we'll be gone and that's fine. I welcome it! I wish I could live a thousand years to watch it happen." I wish he'd just made it a few more decades, that's all he'd have needed.

[@Bdotcapone]

Seriously, the humans of the 20second century are brain less zombies

[@Tackitt]

@@NullBlox It will never be used like that. It only lead to more nickel and diming.

[@aflameninja]

@@NullBlox all of these crypto bros talking about the amazing possibility of the technology.. but like.. why isn't it being implemented, where are the amazing features everyone keeps talking about. crypto has been around for a bit now, even my grandma knows about bitcoin but still its just a bunch of investment nonsense, making money out of the next sucker. And if i understand NFTs correctly they dont really guarantee any ownership, its just a hyper link right? might be wrong on this last part.

[@flubby1982]

Honestly NFTs are not a problem: Its how people use them. I can for sure appreciate an artist who jumps from traditional canvas to digital and wants to monetize their work. NFTs fit that space, but instead we have endless Bored Apes with crypotbros telling me how its going to change finance. Like come on man...its a cool way to buy digital art. Lets just leave it at that.

[@ryanm4319]

The crypto finance/NFT bros are a very odd phenomenon to me. They almost always are die hard on both things

[@mf--]

Hyperlinks are not valuable.

[@monat_son]

word

[@cptrelentless80085]

It’s great until someone turns off the target server

[@taylan5579]

@@cptrelentless80085 this goes for everything nowadays. "so you're a instagram influancer? what will you do when their servers turned off, silly?". there is no stupid in the world who would shot down their cash cow.

[@Tobazhniazhi]

Are 'artists' really condescending to the degrading standards of being some sycophantic parasite whose only drive is to satisfy the absurd demands of wealthy elites and dilettantes? It makes me nauseous to think these are the only prominent options available for emerging artists wanting to venture into this path. Somehow it makes sense to romantically regard art as having purpose, as a window into the artist's life rather than it being firstly an asset to be exchanged or a commodity to be exploited, but perhaps I'm too naive and outmoded. In our contemporary reality, capitalism is the driving force behind all this. Support local artists, you'll find something more meaningful, expressive than some idiotic, cringey pepe frog art.

[@ryanm4319]

So as a photographer I’m still upside down on local artists using NFTs to actually make money, as opposed to trying to hang them in coffee shops and wait for some random person to commit and buy..instead of making it digital and getting it easily in front of a large market that is specifically looking to spend money on it. Like having “a gallery” essentially or renting space for a show in real life, and marketing, handing out flyers, except now artists can save all that money and risk and just throw it in an auction or list in somewhere. I’m a bit too old for it and prefer “traditional” art, but I have seen some younger creatives use it pretty effectively to sell their art and actually make money for once, instead of just being a starving artist, and I can’t really knock them for that. But more the buyer side finance bro BS angle to it is really what irks me and makes me dislike them.

[@iamslf]

@@ryanm4319 the number of artists who actually make money selling nft’s is super minuscule. i figure local artists can make the same amount, if not more, selling prints at a local show. plus the cost of actually getting your work minted to be sold on the different marketplaces is insane. to think, in order to sell an nft for a couple hundred dollars, you’d have to pay double that just to get it posted.

[@hoorayitsjackie6166]

Did you wear a monocle while typing this?

[@bekblanch]

The cost to mint your own art can be prohibitively expensive for many people, and this creates a barrier to entry for those who don't have the financial resources to do so. This means that those with money are able to express themselves and be creative in ways that those without money simply cannot. This is a huge problem, as it creates an unfair playing field and further entrenches existing inequalities.

[@oprahlovesgail]

“This is a revolution!” -someone trying to manipulate you into giving them all your money

[@Adyen11234]

Basically, you don't need to know what NFTs are. You just need to know NFTs are another way for the rich to play with their money.

[@ericswain4177]

Follow the money ! Just like the 1961 artwork by the Italian artist Piero Manzoni. The work consists of 90 tin cans, each reportedly filled with 30 g of feces, and measuring 4.8 x, with a label in Italian, English, French, and German as an artistic statement, $300,000 Can of Poop, if people will pay big money for it there are people who will sell it. AI and NFT Art is no different and is an atrocity and is Degrading the art world even more than it already is. Most contemporary art today is pure garbage. The Art bubble has got to burst sometime. There is a saying in the art world. "ART IS ANYTHING YOU CAN GET AWAY WITH"

[@jairoherrera4040]

this is the biggest ponzo scheme ever

[@kinngrimm]

People seem really like to own stuff. Seems strange, as we loose it all when we die, to even try to own anything. Money has no meaning and the meaning of art gets diluted, too by even trying to put a pricetag on it. 15:50 "Aslong there are extrems between rich and poor ... democratization is just hype" Sadly i find myself agreeing with this and not only where it comes to art.

[@janbaumgartner930]

Maybe nuclear armagedon wouldn't be that bad

[@apostolos8734]

I find myself saying that a lot lately too.

[@ashdraked]

Thanks for proving that all socialists are misanthropic murderers

[@lovelynroche6832]

I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?

[@averadenn2515]

Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong

[@babakurazanna212]

@Amanda Kim I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Lisa Rickson's

[@rowanhakim]

@@babakurazanna212 Wow I'm just shock you mentioned and recommended Expert Mrs Lisa Rickson I thought I'm the only trading with her

[@nelilanco1575]

@Mark Evelyn Thank you for providing her contact here because this is not the first time I am hearing about kamari Telina and her trading exploites, she has really made a name for herself. Now I can reach her and invest with her.

[@amidumuniru5930]

@@nelilanco1575 Here in Canada Expert Mrs Lisa Rickson carries out the both orientation and mentorship potentials

[@Pochocoloco]

Money laundering with extra steps

[@Vanpotheosis]

You'd have to be extremely stupid to think you can launder money using an asset that has every single transaction permanently recorded. Like, EXTREMELY stupid. Imagine trying to just walk into a bank and opening the teller machines in broad daylight and no mask. Everyone knows exactly when and where and who did it. And you can't deny who did it, and the evidence is stored on a thousand computers in over 150 different countries. Maybe you're using the wrong word or don't know what "laundering" is?

[@Canigetanawwwwyyyyeeeah]

“What drug addict made this” her face hahahahaha…best part for sure. As a tattoo artist. Who physically tattoos art into skin and was inspired by physical art and master of old (they would laugh at this crap too) this is lunacy. The art world needs sorely fixed.

[@nootboot9744]

The artists of old were predominantly craftsmen, they made art by commission as adornments for the homes of the aristocracy, churches, or public spaces. The artists of today are no longer the skilled artisans of yester-year, they're philistines making garbage for investors to speculate over.

[@ericswain4177]

Follow the money ! Just like the 1961 artwork by the Italian artist Piero Manzoni. The work consists of 90 tin cans, each reportedly filled with 30 g of feces, and measuring 4.8 x, with a label in Italian, English, French, and German as an artistic statement, $300,000 Can of Poop, if people will pay big money for it there are people who will sell it. AI and NFT Art is no different and is an atrocity and is Degrading the art world even more than it already is. Most contemporary art today is pure garbage. The Art bubble has got to burst sometime. There is a saying in the art world. "ART IS ANYTHING YOU CAN GET AWAY WITH"

[@csoniah4432]

Sorry this has nothing to do with the video but: A 12 year old indigenous yanomami girl was raped and murdered here in Brazil recently by prospectors who were illegally destroying the yanomami land. A 3 year old and the baby's aunt who was trying to save the 12 year old were also murdered, they threw them in a river. The community disappeared and I wish the international media could talk about this case because it keeps happening to other communities and the government does nothing, the national media doesn't give attention to this case. I am just writing this here so more people become aware.

[@JOSEPHCHARLESCOLIN2024]

I am in the Nft world now & my art is time priced like me or not

[@cancerino666]

Very disappointed the whole video made no mention of how the art market, nft or not, is used to dodge taxes and money laundering.

[@badslothlord7706]

I like how vice never put someone on that doesn't have stakes in NFTS to give their educated opinion.

[@ReclusiveEagle]

??? Every artist they featured has NFTs. Did you not hear when they said "Kenny owns over 300 physical art pieces and many more digital"

[@badslothlord7706]

@@ReclusiveEagle you must be a little slow I just said bring someone on who is educated in what NFTS are and not fueling hype.

[@jordand.6032]

just because they make you look bad doesnt mean that its not educated lol

[@greeen0broccolli]

If there were protections for artists, we wouldn't get fucked over. All the creators are making this world more exciting and getting no credit.

[@GT-mn3bx]

Worthless in the real world. Like fools gold in a vial.

[@Vanpotheosis]

Oh, you mean like Art? Weird.

[@jairoherrera4040]

i wonder how will that crap survive after a nuclear fqllout when a black our occurs.

[@fluxophile]

@@Vanpotheosis As an artist, yes. Art doesn't have any inherent tangible value, and mixing it with finance is an act of absurdity.

[@noentropyjames1283]

I'm so glad I don't care about any of this crap.

[@tuabenjamin]

lol don’t worry guy, you’ll be owning that beeple and frog guy for generations

[@jashsylde8136]

Most of the 'ART' that costs millions of dollars can be replicated by a 3 yr old kid with crayons. The Seller can interpret whatever the style and stroke lines blah blah and up sell it for 100k. The art market is oversaturated. It'll all come crashing down. Our Minds can interpret the patterns in dirt as art. Its good, atleast rich people have a reason to blow money.

[@melissawjoy522]

NFT is the future of money. And anyone who is interested in making passive income should really keep some part of their portfolio dedicated for NFTs, you can start minting with absolutely no risk whatsoever.

[@Edgarmouram2d]

Absoluty no risk...Bitcoin down 30%...filecoin down 90%...take another sip...

[@melissawjoy522]

NFTs are not affected by the resent bitcoin price dip because they are traded with Ethereum and furthermore, If more people keep buying a particular NFT traits then the NFT value keeps going up.

[@dustinwrudder]

Please share more details because I have had a lot of failures with NFTs. I have no luck investing in NFT.

[@keithbolin4006]

@@melissawjoy522 Nft is where some of the smartest people are going, big time developers, anyone in the computer science space and i dont want o be left behind.

[@melissawjoy522]

Feel free to write me on any of my social handles for more insight.

[@piterisparkeris4770]

This thing is finally over.

[@ranjitpelia3267]

Bits are atoms. . .

[@hoematica5841]

I mean isn't this just testament to the world we live in? Fck all of us that actually went to art school or taught ourselves from a young age how to use creative mediums right? We live in a time where EVERYONE can claim the title of "artist" or "creator" and make/sell/distribute actual GARBAGE or make/sell/distribute someone else's work entirely. All for profit. Everything is art and because of this, nothing is art. Everyone is an artist and because of this, none of us are.

[@neildeeley4177]

The only people making money off NFT are the ones creating and selling them on, you’re an utter simpleton if you think these will be some tradable commodity

[@maboroshi2550]

This is the most wypipo thing I've watched - great job!

[@arimax888]

It's basically a digital version of what's already out there! I feel bad for disillusioned desperate artists who think they're "taking power back" when the opposite can be true. I mean the fact that there's alot of cases of people not being able to resell what they bought there alone should be alarming to those people

[@meladversity]

if you buy it because you like it it doesn't matter if you can't resell it. when you buy an artwork from a random young artists you're probably never gonna be able to resell it for a higher price or at all. that just shows what NFTs are about. just another way to use art, which is an important and inherent part of humanity, to make money just like the regular art market. as an artists i wish they would just be honest about that but the truth doesn't sell.

[@mathewomolo]

The Artist is alive, he is right there but they'd rather buy it 50x from a middleman, I don't understand that part.

[@2011blueman]

There is a lot of big stupid money in the art world.

[@chavariomontavis6911]

...or you just can screenshot or screen record for free

[@jairoherrera4040]

people do that all the time especially on tiktoc in which I can screenshot the vid and have it on my homescreen while the artist is unaware who has it

[@ericpeters0n]

Waits for the honest discussion of money laundering...

[@billul1]

NFT creators should be home invaded

[@Ronniemc1999]

Why

[@Ronniemc1999]

They have every right to capitilize off this

[@Ronniemc1999]

@derzzsh according to what law

[@_JC_21]

WTF.

[@Auriflamme]

It would have been interesting to interview the creator of Pepe the frog about how speculators are making bank off of his intellectual property. NFTs started off as an opportunity for digital artists to monetise their work, but at this point it's just speculators trying to blag cash by using other people's ideas. It's just the monetisation of memes.

[@Bayplaces]

@theo goodman watch “the line goes up” from start to finish without being a twit the whole way through

[@sonnybrisbane66]

He doesn't mind and is all for it, his name is Matt Kane. He had more of a problem with the alt right using it.

[@calalos]

They compare downloading a jpeg of a nft as owning a Chinese copy of a Matisse, the difference is that the jpeg is an exact duplicate, not just a “print”, there is no difference in any way, just a registry on a blockchain saying you own said jpeg.

[@diamondlion47]

I guarantee you wouldn't be able to tell a well done copy of physical art, many fakes hanging in galleries have fooled supposed experts for years.

[@calalos]

@@diamondlion47 great point. kzbin.info/www/bejne/lYbWgqSMgpd2fLc

[@viralbuthow000]

That guy at 15:45 gets it.

[@leonsmith71]

I believe NFT is the real future of art. I invest in DeFi Warrior right now and looking to invest in art next

[@dennisc.simpson4032]

People have too much money to waste, so stupid

[@ottoahmadp.5738]

Artist don’t understand there’s an added value when the reseller themselves have an established name. Art is meant to tumbleweed not blockchain. A painting by Van Gogh sold by Tom cruise is warranted for a higher price than if Van Gogh had sold it in his time

[@xic777]

isnt that fucked up that the value only art has is if you have a "big name"

[@Batmanslovechild]

@@xic777 it’s exactly the same if you’re buying a Chanel dress worn by Marilyn Monroe. A 60 year old Chanel = ££, a 60 year old Chanel worn by Marilyn = hundreds of thousands if not millions

[@heavenlyadvancedyt5089]

why would you actually buy an nft when screenshots exist

[@jairoherrera4040]

Morons still exist in society.

[@brother30]

✨Money laundering ✨

[@heavenlyadvancedyt5089]

oops yeah forgot about that 💀

[@MrsDaedalus_]

NFT´s are not about the art, it is more about getting rich and people finding new ways to get rich. It's a bubble, so nothing really stable...I am literally waiting for the time this bubble is going to burst. I would rather have a stable income than making and trading NFTs. Once this bubble bursts, have fun finding an actual job when you are running out of money.

[@knightwarffxi5252]

makes me laugh, the things people waste money on.. your power goes out and you can't look at your ART lol

[@spingebill8551]

Not to mention 99% of these NFTs are scams and people have lost them to hackers

[@_JC_21]

Already handled that issue. It's being built right now.

[@CHUCKBALLER2024]

6 million for a gold timer nft

[@azell2913]

You know what's done more for digital artists than NFTs?, Vtubers, paying and promoting artists to make Models, Thumbnails, Music videos, Animation etc

[@djartyom924]

Every NFT owner gangster until a blackout hits

[@arifahmedkhan9999]

What a waste of money and time

[@StarchyGuy-g3j]

*How the NFT market is dying

[@elijahgutman2169]

Great journalism. Clears up my mind on the topic

[@ArtistAllanWest]

The five months since this video was uploaded show us how quickly the market for NFTs can change. Perhaps it will go up again, but for now, anyway, even the highest selling NFTs are practically worthless. It will be interesting to see how the art world changes in the next five years.

[@taylan5579]

to be fair, nearly everything goes way down in those few months. Crypto is the most affected one since it's highly volatile.

[@TTOS69]

It's funny how much of a scam people are getting away with nowadays and how oblivious the normal class is. There are a select few who will make ALOT of money of this NFT scam. There are millions who think they are cool or whatever kind of satisfaction they're getting from getting an "NFT".

[@gydra7572]

Bro that makes 0 sense Why would someone buy an nft to be cool

[@Mizuryryn]

NFT Museum: Climate Activist: no. Art Museum: Climate Activist: *WHERES MY AXE? IM GOING TO DESTROY IT!! TO SAVE OUR EARTH!!!*

[@Alexthekid900]

#apemafiaclub

[@johnmastrianni1904]

Solana monke rejects best nfts still affordable for average consumer

[@hippocraticly6167]

Without fusion power this literally cannot be scaled to mainstream

[@CeoLogJM]

Rare pepes have nothing to do with NFTs, and making money off them is a grand crime.

[@traplover6357]

NFTs would work perfectly a th thr art world: Scams and rugpulls and artifical inflation of worthless art.

[@prancer1803]

As someone who does traditional work (works with things I can taste, touch or smell) I don’t understand any of this

[@joewedg3703]

Greed ruins everything.

[@muajin]

Thanks for the shout out to Ghostly Kittens. They are very unique in the nft world. Popped up on cyberpunk neon vibes make them look awesome. :D

[@KillerLettuce]

I dont understand why anyone sees values in NFT's. Regardless of what the blockchain says, there's no scarcity to it. The jpg they bought for $500k is the exact same jpg I can get for free by right-click save image as. There's no limit to the number of times you can download the image.

[@bigpapijr7769]

People like me make tons of money on this, yall just hatin we get money selling jpegs. Dont matter what anyone calls it, the facts are people make tons of money while ur there hatin

[@ReclusiveEagle]

Art market isn't Christies. Art market is advertising, games, content creation, comics, books, digital art etc ect etc. Galleries are a tiny part of that market and NFT's are just a joke. The number of actual artists producing NFT's are maybe 1/100 NFT creators.

[@Moonchild1607]

It's like buying a new Lamborghini with a old mint charizard card. But just because some people are willing to spent a crazy amount of money to buy it from you, doesn't mean it's right or just not outright insane..

[@Akegata42]

Maybe it's time to stop claiming NFT's has anything to do with art? Even if you believe it is the future, it's not the future of art, it's 100% economics. Just call it what it is, monteray speculation.

[@MadMrMatter]

Sad view of the world if this is where we're at

[@slacker1713]

sorry....all i see is scam, red flag, scam after watching this...but thats just my opinion...

[@stevemanjowski6055]

It's important to understand that the Beeple sale was used as a mechanism to legitimize the crypto currency platforms Vignesh had a significant personal stake in. Sales like the Beeple sale (which were conducted to create media attention and "legitimize" crypto space) are in and of themselves an investment for the buyer, not because he/she feels the piece was subjectively that valuable or had the potential to gain value over time but rather that the sale created a huge influx of users and investors for the crypto platforms and businesses the buyer operates. 99.99% of investors don't run or have a stake in the brokerages trading platforms they use, and dont realize this kind of benifit with an NFT purchase like Vignesh did. Those who made the money from the California gold rush weren't prospectors, they were the men selling shovels. Vignesh Sundaresan synthesized a speculative 'gold rush' from the beeple sale and is now profiting from the aftermath by investing/running the exchanges and blockchain services that support the sale of non-fungible-tokens (a la digital shovels). It's also important to note that the "culture divide" between traditional and NFT art circles is much blurrier than one would garner from this video, some of the largest NFT auctioning platforms (including OpenSea and Rarity) include prominent investors from the traditional "old money" art market (such as the Winklevoss twins). I'm generally a fan of this program but I feel like this piece could have used more opposing views from those who rationally NFTs on an economic basis or simply included views from experts whom had no vested financial interest to promote or discourage NFTs.

[@topofthemornintoya]

The Pepe dude almost starts laughing at the absurdity of his own statement. Not that he was bull shitting, but just that he was actually hearing it out loud 😅

[@fortytwo244]

Screenshot for free

[@jairoherrera4040]

especially when they are recorded on tictok

[@cablevamp3163]

NFT are not art Art is about creativity not how much money you can make off a shitty ms paint jpeg I hate the future dude

[@SnowTiger45]

It's an absolute SCAM. As far as I'm concerned, this is just another way to avoid taxes and launder money.

[@maveeeclub1440]

Digital furniture for the metaverse to buy ... im toooo fucking old for this kind of crap.

[@neildeeley4177]

The Louvre has the Mona Lisa and Liberty in it. It’s never going to have JPG of a cat on a skateboard, it’s the original honest!! Look a number on a computer said so, in it.

[@constipatedlesbianamphibia7022]

Or a Gorilla wearing sunglasses and a hat. The collection is literally the same monkey just wearing different hats and glasses in each NFT. Even if I am the owner of the JPQ/NFT it still doesn’t explain why in the world anyone would wanna own it or buy it off me for $3 yet alone $10,000 But if you invented GIFS tho… you should be worth heaps of laughs

[@lucagiordano7842]

its sad to see in what direction the world is going...

[@nataliezementbeisser1492]

You can buy THIS comment as an NFT for 50 000 000 US-Dollars