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Poisonous commentator Kenny talks about NFT: So what if it is a bubble?

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I've been approached by various newspapers to comment on one art bubble or another, but the art world has miraculously survived and even thrived, growing bigger than ever in the process.

Original title: "Kenny, the poisonous commentator, talks about the hot NFT: so what if it's a bubble?" "

Original source: artnet News

It seems like centuries have passed before people stopped talking about And thinking about the artistry of art and relegating the discussion to a purely money-related level. Since the advent of the NFT (non-fungible token, non-fungible token), the discussion about it has still not involved the part about art. Admittedly, in the world of cryptocurrencies, the notion of time has been distorted by the potential energy of change beyond the speed of light. Here, a dog’s age might be a better analogy: one year on the blockchain is equivalent to seven years in real life.

Some time ago, I have introduced non-homogeneous tokens in a column, and my life And so it became a mess - after over 500 emails, DMs and phone calls (for me, the phone was the most unbearable way) - which included artists, architects, agents and other miscellaneous Miners, they are all concerned about how they can get a ride on the blockchain to get rich.

In fact, I have already planned to open a business that provides NFT consulting, which may be more profitable than the recent one Nifty Gateway, a platform for digital art collections, earns more. If I were to read all the inquiries one by one, it would basically be equivalent to a real full-time job, which is obviously not what I want. If a revolution is a sudden and unexpected political shift following a popular uprising, the art world is waking up to the speed of this NFT frenzy. It’s as if the first gun was fired at the beginning of a war, and the sound of the crypto cash registers was heard around the world, and everyone (and their grandmas) wanted to squeeze in.

Dialog content:

- Okay, I may be too serious

-I just see artists I like or follow on the platform Published works on the website but no one bids, instead it's Bitcoin-themed junk art going straight to $100,000

- I've been hurt before!

- My first piece sold 43k. Thank you for your precise and high-quality advice :) My life has also been changed

Now, many Old-fashioned galleries, art fairs, biennials, auction houses, and artists, while outraged, continue to exacerbate the tension by joining the ranks of digital natives and cryptocurrency investors (often kids and tech geeks). crazy.

What the opponents ignore is: First, the booming buying group this time is all new contacts secondly, they found a way to avoid the gatekeeper role of galleries in the art system and directly access the works of art. It’s actually very moving that my article helped artists who have been working in the digital space for little or nothing for so long be part of this mess. Sentiments such as "you changed my life" are not uncommon in the multitude of inquiries I answer - although I can't think of anything more controversial than an NFT these days, but in my 30s In my 20-year career, I have never seen any event that can cause waves and explode so quickly like NFT. This shows that if you ignore this movement, it will undoubtedly be your loss.

Wasting brain cells is really terrible...so I created My brain cells, made another NFT

Image: Courtesy of Kenny Schachter

In the last article, I was bound to make some "technical" mistakes. But thankfully, most people in the art world are not yet sensitive enough to attack me in this regard. The artistic part of NFT does not exist on the blockchain, but on the Inter Planetary File System (IPFS, Inter Planetary File System), which is a peer-to-peer computer network that stores and shares data in a distributed manner. It now appears that many potential questions are emerging that remain unanswered. What if IPFS gets hacked or the business that runs them somehow goes out of business? Will the artistic part of the NFT be taken away? (Some will say this has already happened!) A netizen privately messaged me complaining that they could not find any technical requirements related to image resolution size (in fact, there are none), or whether the most stable TIFF file is the most stable. Best format etc. (probably yes, but so far so good).

Also, what will the tax authorities do when they sniff out the market quickly? Given what we know about NFTs now, it may exist in some form for a while, but it may not be exactly the same as it is today. For example, Ethereum, which is now the encryption standard for NFTs, is prohibitively expensive to transact because it consumes too much energy. So will Polkadot or Cardono replace Ethereum? Interestingly, many of these digital currencies originated in a small tax haven in Switzerland.

Currently, I am planning an NFT exhibition to be held at the famous German gallery Nagel-Draxler on April 9th, called It is "page path" (Breadcrumbs, also literally translated as "breadcrumbs"). At the same time, there are also exhibitions in two virtual crypto museums: one is a collaboration with Colborn Bell at the Museum of Crypto Art (MOC△); the other is an exhibition with Serena Tabacchi and Georg Bak at the Museum of Contemporary Digital Art (MoCDA). By the way, isn’t it great that there are more and more crypto museums? You don’t need to spend too much money to buy a piece of land on the Metaverse platform, you just need more NFT tokens. Next, let's change the subject for a moment.

If you want to know what an NFT exhibition is like, I will be on April 9 Presented to you in the concurrent exhibition "Pathways" at Nagel Draxler Cologne and Metaverse.

Photo: Courtesy of Kenny Schachter

Pathways of the Page will provide a historical review of this genre of art and present some classic examples, including pioneers in the field, but First and foremost is Kevin Abosch, an artist. He described his attempts at NFTs as “a proxy for extracting sentimental value made up of numbers and letters through layers of hexadecimal code.” So that’s pretty much the same thing as a landscape painting, isn’t it? Also on display are Darren Bader and Sanya Kantorovsky, who express themselves digitally as a primary means of their artistic practice. In related news, Johann König is curating an exhibition of digital art with Anika Meier (although it does not technically include NFTs); UCCA Ullens Center for Contemporary Art is said to be hosting an NFT exhibition as well—these news share Send a message: the future is now.

This semester, in a class I teach in a design history class at NYU, the students asked So many questions about NFTs that I can hardly insert any Stijl or Bauhaus knowledge points. So before the next class I asked them if I should skip the furniture and design and talk about NFTs. Not only were the students very appreciative, but six students audited the class, including two of my own children!

Dialogue Box content:

-I sold my first NFT! ! ! So excited, thank you for your encouragement! ! !

Many people think this is just a fad and nothing more than a hoax. If even this is a bubble (I don't think so), there is soap, not nothing. In the 1630s, a tulip bulb could cost as much as a beautifully furnished mansion—an apparently irrational prosperity. But during World War II, the Dutch ate the flower bulbs to survive the wartime famine despite the toxicity in the middle of the tulip bulbs. Isn't tulip still deeply loved by us today? For 25 years, I’ve been approached by various newspapers to comment on one art bubble or another, but the art world has miraculously survived and even thrived, growing bigger than ever in the process. To prove it, I ate a dozen tulips and titled the video "Eating the Bubble" — barely, but I'm still alive.

「Bubble, bubble, toil and no trouble (on the horizon).Some will go up , many will go down, but NFTs are here to stay!" (The text is adapted from the lines of Shakespeare's famous play "Macbeth"). This picture is a screenshot of Kenny Schachter's tulip-eating video "Eat Foam"

Image: Courtesy of Kenny Schachter

NFTs are not just about money related, or not always will work that way. Yes, DJ and digital artist 3LAU recently dropped to $11.7 million, but he's also one of the first audiovisual artists to do so. Things didn't go according to plan either when hit indie band Kings of Leon began releasing their latest album for $50, leading to "fuel costs" (see glossary below) reportedly reaching $70, while sales is much lower than expected. Upstart rats.art is a decentralized (the word has been overused to mean "significant" in the old art world) collective of online artists. Their architecture is an art-based economic experiment where you can trade NFT artwork for RATS tokens, which you can exchange for other NFTs. Happily, at least in this example it's not just a money transaction, where you put in one thing and get another.

As a father, I trained my 24-year-old Adrian to create an NFT; 21-year-old Gabriel is working with His Egyptian friends (his father is a legendary singer) work together to study a currency trade; 18-year-old Sage is about to transfer to art school, so he might be next too! Historically, it's good to try a lot of things, even if you're half-baked. Yet in the art world, the sad thing is that if you do too many different things, you are categorized with contempt. People with slash identities like me are not so easy to use: writer/artist/curator/teacher/art dealer. But in the world of NFT, most people are DeFi (decentralized financial) people, they are also technicians and digital artists.

Twitter co-founder Jack Dorsey that value $2.5 million tweet

Photo: Courtesy of Kenny Schachter

I don't find the learning curve and subsequent attacks tiresome. I found myself repeating that everyone and their grandmothers are minting or wanting to mint NFTs now, and it also got me wondering if it would be possible to "upload" my own grandmother to OpenSea and mint an NFT - I'll close soon Three bids came and accepted, so my grandmother just "sold" for a few thousand dollars (but I should probably bid her more). Twitter founder Jack Dorsey is bidding on his first tweet, and the price so far is $2.5 million. If so, this article should be worth some digital money.

"sold" my grandmother for thousands of dollars

Image: Courtesy of Kenny Schachter

Appendix

The following is the "NFT jargon glossary" you should know:

;

These things on the picture are really worth knowing

Photo: Coutesy of Kenny Schachter

For those who haven’t caught up ——Including me a few months ago, and a newcomer to the encrypted art world, here is a part of the relevant glossary of NFT terms. But there is no doubt that it is changing so fast that we may need to update the following vocabulary before this article is published...

Dry Powder = Cash

Alpha = New Information

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A3 = Highest Definition

Ethereum "plumbing" (ETH "plumbing") = Ethereum application standards, which include token standards, name registries, library/toolkit formats. The two existing standards are Ethereum Request for Comments (ERC, Ehereum Request for Comments) and Ethereum Improvement Proposals (EIP, Ethereum Improvement for Proposals)

ERC721 = non-homogeneous currency smart contract standard (ERC20 is a standard for homogeneous assets)

< p line="YQhW">IPFS = Inter Planetary File System (Inter Planetary File System), a peer-to-peer computer network for storing and sharing data in a distribution record/retention system

Breadcrumbs = a digital path on the blockchain that reflects the history of transactions

ENS = Ethereum domain name service, which allows you to name your wallet address with a certain name instead of using an endless string of numbers and letters

Maker DAO project = An ether currency linked to collateralized debt positions, which can be regarded as a stable currency of one dollar , and can be used to prevent the loss of your cryptocurrency

Metaverse = why not digitize everything, you just Don't even have to take half a step from the door? You can move to the Metaverse platform, where you can buy real estate and build buildings like in the "real" world, but the money used is NFT cryptocurrency. It's the same as buying a house in NYC, always remember location, location, location, you want the best location there, build a gallery the size of Gagosian (again, of course, it will cost you a fortune money)

Hash = Cryptocurrency miners compete against each other to crack complex mathematics when mining coins Puzzles

Hashmasks Digital Art Collection Items = A series of NFTs that were initially purchased as blind boxes and can be purchased by It is named after its owner, such as da Vinci's Codex Leicester, originally owned by the Earl of Leicester and now owned by Bill Gates. When you are ready to sell again, the new owner can also rename it, but it will cost another token

Fuel (Gas) = the real-time cost of transactions based on supply and demand, even if it is like a credit card fee charged by a supplier

Gas Tracker = A service that shows the lowest price when a transaction is made. It should be noted that when the number displayed by "Fuel Tracking" is lower than 100

Etherscan = track the arrival of "Fuel" The lowest point of the website, a technical expert once told me that this website "should be your best friend"

Proof of Work (PoW / Proof of Work) = existed before the cryptocurrency blockchain and was originally developed to fight spam. The core concept of PoW is that in order to use a certain service, such as sending an email or adding a transaction to the blockchain, someone needs to prove that some form of work has been done. The goal is to create a reasonable cost (in terms of computer power to run the PoW algorithm) for those who want to use the service once, and for those who use the service thousands or even millions of times to become Very expensive. As a result, the cost of attacking or disrupting the PoW system is extremely high

PoS / Proof of Stake ) = The concept of proof of stake is for miners to use their cryptocurrency as a ticket to add blocks to the blockchain and earn transaction fees. If an invalid transaction is added to the blockchain ledger, the adder will be penalized and lose the invested currency. This would involve less computation and thus lower "gas costs"

Bitcoin pizza = in the early days of encryption In the world, someone paid 10,000 bitcoins for a slice of pizza to prove that you can actually buy something with cryptocurrency. And this amount of money is really a big number today

Doxxing = The act of exposing someone's identity information on the Internet , including their real name, home address, place of work, phone number, financial status, and other personal information that would be used to commit crimes in real life

DeFi = Decentralized Finance

Loot Box ) = refers to a transaction where you don’t know what NFT you bought, it won’t be revealed until you pay for it

NCT (name-change token)= Name change token in Hashmask

Pull carpet (Rug pull)= a scam

NIFTX = NFT transaction is a way to get homogeneous platform for crypto tokenization (fundraising)

Chad = a young "alpha male" crypto jerk

Stacey = female corresponding to Chad

The NFT currency platform you need to know:

bitski.com

zora .co

makersspace.com

foundation.app