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Ryan McGinness 30 Thoughts Non-fungible Token Primer on NFT Art The old art market benefitted from a practical obscurity that benefitted the artists by ensuring that the work of art was secure and protected—that it was in the right collection, col- lected by the right patron. Price was secondary to place. When the market is open and public, that level of protection is gone. However, with NFT artworks, that protection is not needed, because an NFT artwork only exists when it is exchanged. It only exists in a market. It needs the market to survive, because its only place is in the marketplace. 14) Weeds Advertising, porn, and entertainment will invade. It is inevitable. Those things grow everywhere. Corporate collaborations that blur the line between sponsored art and art-as-advertising will go Gaussian. This is actually exciting, because the medium is not art for art’s sake. NFTs are art for money’s sake. Embrace the medium. 15) Material is Immaterial Digital art has, up to this moment, relied on materialization and singular playback tools to be appreciated in the market. Not anymore. Even still, some collectors of NFT art are curious and anxious about how to display or live with their assets. This is natural, since we still inhabit bodies and therefore re- late to a universe of things. NFTs, however, exist only in the digital realm and are on-demand. This urge to materialize speaks to our inability to escape our bodies. The materiality of a work of art has traditionally contributed to its apprecia- tion—the often difficult-to-explain “isness” of a work of art. To fully appreciate an NFT, you must transcend the prison of your material world and cut your tether to the istigkeit. Art has now entered the spiritual realm secured only by faith (and the block- chain). Art can now be as cold as code. ryanmcginness.com Page 5 of 17PDF Image | Non-fungible Token Primer 2021
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