Read on Twitter
“If I can just download the image file, why would I buy the NFT?"
This talking point is brought up often by skeptics of NFT digital art. I believe it really misses the point.
This thread will explore why this viewpoint is off base. Let us dive in:
(1/23)
This talking point is brought up often by skeptics of NFT digital art. I believe it really misses the point.
This thread will explore why this viewpoint is off base. Let us dive in:
(1/23)
The argument goes something like -
"When I buy a physical artwork, I am purchasing the exclusive rights to view & display it. Physical art is not reproducible. I can just download an NFT image file to view & display it for free, why would I pay for it?"
(2/23)
"When I buy a physical artwork, I am purchasing the exclusive rights to view & display it. Physical art is not reproducible. I can just download an NFT image file to view & display it for free, why would I pay for it?"
(2/23)
Underlying this argument is the concept that the value of an artwork comes from the utility a purchaser gains by being able to look at it & display it.
According to this understanding of art, art is sort of like wallpaper or another type of wall decoration.
(3/23)
According to this understanding of art, art is sort of like wallpaper or another type of wall decoration.
(3/23)
Ok. If this is really what gives art value, then why is forgery a problem?
Why would anyone care about collecting THE Mona Lisa when I could simply take one of the many high res digital scans of the Mona Lisa, print that out and hang it up on my wall?
(4/23)
Why would anyone care about collecting THE Mona Lisa when I could simply take one of the many high res digital scans of the Mona Lisa, print that out and hang it up on my wall?
(4/23)
If the value of an artwork comes from the utility I derive as a viewer, then this print of the Mona Lisa would have the same value as the original Mona Lisa.
Both my print & the original provide the same amount of utility as a wall decoration.
(5/23)
Both my print & the original provide the same amount of utility as a wall decoration.
(5/23)
"But wait," the argument goes. "Printing out the Mona Lisa isn't the same as the original Mona Lisa! You can't see the brush strokes, and there are tiny, imperceptible differences. Those differences are what make the print worth $0, and the actual Mona Lisa priceless!"
(6/23)
(6/23)
Ok - what if I actually created a literal perfect reproduction?
If the value of art REALLY comes from the exclusive right to view & display it, then a perfect copy would be as worth as much as the Mona Lisa.
(7/23)
If the value of art REALLY comes from the exclusive right to view & display it, then a perfect copy would be as worth as much as the Mona Lisa.
(7/23)
In reality, everyone knows that a perfect reproduction would still be worth nothing.
No matter how good a reproduction is, no matter how close to 'perfect' it is, it will always be worth nothing.
(8/23)
No matter how good a reproduction is, no matter how close to 'perfect' it is, it will always be worth nothing.
(8/23)
The stupidity of the "art is valuable because it can't be PERFECTLY, EXACTLY reproduced" argument is best revealed by an examination of the modern print making industry.
Modern print making involves taking a high res image and printing it out.
(9/23)
Modern print making involves taking a high res image and printing it out.
(9/23)
All you need for a print is an image file and a printer. Print forgeries have become really, really good in recent years.
So good that the most qualified experts cannot really determine if a print is a reproduction or not.
https://www.nytimes.com/2020/01/24/arts/design/fake-art-prints.html
(10/23)
So good that the most qualified experts cannot really determine if a print is a reproduction or not.
https://www.nytimes.com/2020/01/24/arts/design/fake-art-prints.html
(10/23)
It is not a hypothetical discussion to talk about "what would happen if a perfect reproduction of a print is made" - perfect reproductions of prints are happening right now.
And none of them are valuable.
(11/23)
And none of them are valuable.
(11/23)
So we know that the value of art doesn't come from the difficulty of reproducing it and the exclusive right to view & display it.
Where does the value of art come from?
(12/23)
Where does the value of art come from?
(12/23)
The value of art comes from a work of art being authentic. There is only one possible thing that can make a work of art authentic - artist intent.
A work of art is authentic, and therefore valuable, if and only if the artist who created it says that it is authentic.
(13/23)
A work of art is authentic, and therefore valuable, if and only if the artist who created it says that it is authentic.
(13/23)
This isn't unique to art. Creator intent determining authenticity & also value is a fundamental mechanism how quite a few different collectibles operate.
A perfect replica of a Hermès bag doesn't hold any value. Hermès certifying a bag as authentic gives it value.
(14/23)
A perfect replica of a Hermès bag doesn't hold any value. Hermès certifying a bag as authentic gives it value.
(14/23)
The world of physical prints & physical art runs off of artist intent. Prints become valuable when an artist numbers and signs them.
An artist’s signature on a physical art print is a physical manifestation of their designation of a specific print as authentic.
(15/23)
An artist’s signature on a physical art print is a physical manifestation of their designation of a specific print as authentic.
(15/23)
Successfully forging art doesn't mean creating a perfect physical copy of a work of art.
It means pretending that a specific physical object was certified as authentic by an artist when that never in fact happened.
(16/23)
It means pretending that a specific physical object was certified as authentic by an artist when that never in fact happened.
(16/23)
NFTs certify artistic intent, but for a work of digital art instead of a work of physical art.
And an NFT might be the greatest vehicle for manifesting artist/creator intent that the world has ever seen.
(17/23)
And an NFT might be the greatest vehicle for manifesting artist/creator intent that the world has ever seen.
(17/23)
Forgers can fake signatures, certificates of authenticity, and provenance. They can never fake an NFT.
(They can create a new NFT and pretend it is authentic when it isn’t, and people try exactly that, but it is incredibly easy to detect, so it is pointless).
(18/23)
(They can create a new NFT and pretend it is authentic when it isn’t, and people try exactly that, but it is incredibly easy to detect, so it is pointless).
(18/23)
NFTs work.
The stated purpose of an NFT is to make a work of digital art scarce and collectible, the same way a print, painting or sculpture is.
NFTs successfully accomplish this goal and they have been doing so for years.
(19/23)
The stated purpose of an NFT is to make a work of digital art scarce and collectible, the same way a print, painting or sculpture is.
NFTs successfully accomplish this goal and they have been doing so for years.
(19/23)
NFT tech is not hypothetical anymore. Our @niftygateway drops sell out in minutes.
Many items have gone up 5 or 6x in value on the secondary market.
And we are just one platform out of many.
(20/23)
Many items have gone up 5 or 6x in value on the secondary market.
And we are just one platform out of many.
(20/23)
I am convinced that the 'I can just download the image' crowd has no clue how active the NFT market is.
Saying "nobody will value an NFT because they can just download the image" is contradicted by the fact that many people do, in fact, value NFTs highly.
(21/23)
Saying "nobody will value an NFT because they can just download the image" is contradicted by the fact that many people do, in fact, value NFTs highly.
(21/23)
Not many people understand the fact that NFTs accomplish their stated goal of certifying artistic intent, and that they accomplish better than any other mechanism that currently exists.
The people who do understand this are way ahead of the curve.
(22/23)
The people who do understand this are way ahead of the curve.
(22/23)
End of thread - thank you for reading.
Subscribe to the @niftygateway mailing list to get notified about weekly drops here: http://eepurl.com/gWimLT
(23/23)
Subscribe to the @niftygateway mailing list to get notified about weekly drops here: http://eepurl.com/gWimLT
(23/23)
Other great reading on this is this blog post from @SuperRare_co: https://beta.cent.co/+k96cn1
I worked hard on this so I would love your thoughts @AndrewSteinwold @gcockfoster @DCLBlogger @SuperRareJohn @APompliano @Coldie @josiebellini @curatingcrypto @j1mmyeth @tylerwinklevoss @winklevoss @KnownOrigin_io @makersplaceco @conlan @dfinzer @artnome @xanderatallah
