Commentary: Attacks against NFTs will not age well. Virtual ownership through NFTs is another part of a profound societal transformation.
even suggested that the modern artists might have to be quarantined, and the Constitution amended, to limit free speech. A now infamous pamphlet attacked the Metropolitan Museum of Art’s first major exhibition of modern art, lambasting it as the product of a “modernistic degenerate cult.” Tragically, this view later prevailed in Germany, resulting in the Nazi confiscation of tens of thousands of “degenerate” artworks.This sad chapter in history provides an important lesson.
NFTs have spawned a new market for digital artworks, including works generated by artificial intelligence. In the past, digital artworks weren’t prized in the art world because digital copies lacked an original. Why buy a digital artwork that can easily be copied online for free? NFTs solved that problem by creating a digital original through a virtual token recorded on blockchain, a public ledger.
Of course, there are skeptics. Naysayers have attacked NFTs as “scams” and “Ponzi schemes” of the “cult of crypto,” and AI-generative and digital art as “screensavers” and “ugly.” The reaction is almost as hostile as the initial reception to cubism.
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