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Ryan McGinness 30 Thoughts Non-fungible Token Primer on NFT Art 23) Day-trading Art Money and art can co-exist in spiritual harmony. Now we can sell art without all the messiness of art. This is the gamification of the art market. This is nothing new, except now we can day-trade art. Imagine art-buying bots trading at lightning speed. We can even remove decision-making when it comes to art. 24) Faith Demonstrating faith decreases the need for faith. Spending money on NFTs is a symbolic gesture that conspicuously demonstrates one’s faith in cryptocurrency and the blockchain. It strengthens one’s resolve and increases the perceived value of the new systems. And in this new system, our faith in the blockchain will supersede our faith in the real world. Some people think NFTs should be used to authenticate and reinforce our faith in material works of art, but actually that will flip. Physical works of art will reinforce the faith in the NFT. 25) The New System Is A Brave New World. “On the blockchain,” “on the chain,” or simply “chained” will be a ubiqui- tous term to assert that something is registered and a part of a shared and agreed upon official canon of reality. The chain will validate everything and become the dominant mechanism by which we record reality. Conversely, an alternative, underground, and unofficial parallel reality will emerge that will be populated and visited by those who do not want to live saved or recorded lives. Outside the chained World State (Huxley) will be an exhilarating place to visit. And, that “off the chain” world will be ticketed. What happens in Vegas stays in Vegas. ryanmcginness.com Page 9 of 17PDF Image | Non-fungible Token Primer 2021
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