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Ryan McGinness 30 Thoughts Non-fungible Token Primer on NFT Art 22) Community Immunity We can no longer refer to “The NFT Community.” We must now refer to the “The NFT Core Community.” And, even that is fragmenting. Platforms want to remain neutral and unassuming by accepting (almost) everyone. But artists want to stand next to other artists they admire, are friends with, or feel aligned with. In a market of utility goods, value attribution is easy, and the market self- regulates. However, NFT platforms should not be eBays or Craigslists for digital art. Art appreciation is much more nuanced than toaster appreciation, for example. The variables for evaluation and valuation of art are more complicated and subtle. Art is not a commodity in which the cream will rise to the top in a free market. Just look at other areas of culture to see if popular opinion has celebrated the best of what culture has to offer. Laissez faire platforms foster this injustice. In fact, NFT platforms can claim that they are simply the parking lot for the flea market, but, in fact, they decide which stalls get placed close to the gate, and they decide how the rows are configured. And while deciding to not chime in on what’s for sale in each stall (because “art” should not be influ- enced by outside forces, for some reason), the unregulated content creates an unstable marketplace. As an artist, I am looking for my work to be valued in a stable market. Instability does not benefit the artist or collector. It is inevitable that NFT art platforms will have to morph into something more like the old-world gallery model. Side Note: Platforms or Publishers? Web 2.0 companies benefited from not being legally categorized as publishers. They asked for that non-status. Accordingly, they were not responsible for the content they were publishing. Claiming to be simply platforms for us- er-generated content absolved them from being held accountable for that content. This was in the interest of growing the internet. Growth without guidance. That is not how you raise anything. Now as the internet enters adulthood, it is stuck in a state of arrested development, like most of society. It’s time to grow up. ryanmcginness.com Page 8 of 17PDF Image | Non-fungible Token Primer 2021
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