Title : "'It will one day be worth $1 billion'... Many people really, really wanted the Beeple sale to succeed. In fact, the high price [$69.3 million] smacked of market manipulation."
link : "'It will one day be worth $1 billion'... Many people really, really wanted the Beeple sale to succeed. In fact, the high price [$69.3 million] smacked of market manipulation."
"'It will one day be worth $1 billion'... Many people really, really wanted the Beeple sale to succeed. In fact, the high price [$69.3 million] smacked of market manipulation."
"NFTs rely on blockchain, a database technology based on decentralized, collective control of blocks of data that have been chained together in a way that makes the data immutable. Metapurse — the company founded and financed by Metakovan, the buyer of 'Everydays' — says it 'identifies early-stage projects across blockchain infrastructure, finance, art, unique collectibles, and virtual estate.' According to the Art Newspaper, Metapurse 'is also a production studio for NFTs and a major funder of the digital art form, reportedly owning the largest known collection of NFTs in the world.'... Making the whole spectacle look even more egregiously engineered, the underbidder was Justin Sun, the founder of TRON, another blockchain company.... The irony is that the driving force behind conceptual art... was a desire to resist commodification.... Conceptualists... thought that if you dematerialized art — if you took away the object and our urge to fetishize it — it would be an act of resistance against the art market and the whole capitalist system. How naive that turned out to be. Of course you can commodify artworks that exist only as ideas! It’s really easy.... You need only relationships, differentials, future projections and other ideas, all of which can be bought and sold.... As for the actual work that was purchased? Yawn. Beeple’s technique — collaging lots of colorful images in grid format — is a soporific cliche. Images like this, sometimes coalescing into other images, are ubiquitous. Metakovan’s claim — that 'it represents 13 years of everyday work' — is weak tea.... [But] I like it when the connection between functionality (or even aesthetic merit) and monetary worth is stretched. It can make us question conventional ideas of what has value and what doesn’t. That can be salutary...."
Writes Sebastian Smee in "Beeple’s digital ‘artwork’ sold for more than any painting by Titian or Raphael. But as art, it’s a great big zero" (WaPo).
This blog represents 17 years of everyday work. Where's my $90.6 million?
Anyway... what do I care if rich people shift their money around according to the rules of some wacky game and get nothing tangible? It's the same thing that occurs in gambling. Is anyone defrauded at any point? Are they paying their sales taxes and income tax properly? Other than that, how can it matter? Is there a philosophical question to contemplate?
I forget whether Metakovan is a person or a company. Let's see: "the buyer, the Singapore-based founder and financer of the cryptofund Metapurse who goes by the name Metakovan."
So it's a person, some cryptic figure in Singapore. The prefix "meta-" denotes "change, transformation, permutation, or substitution" (OED). So "Metapurse," I get. But what is Metakovan? Kovan is a geographical location in Singapore. Is there really a person here?
Considering the complexity of the concepts, I wonder: Is the real artist Metakovan or Beeple? Or is there really anything at all — other than the market, a concept to be admired and cavorted in or scorned by each of us, as we see fit.
And, again: Where's my $90.6 million?
Thus articles "'It will one day be worth $1 billion'... Many people really, really wanted the Beeple sale to succeed. In fact, the high price [$69.3 million] smacked of market manipulation."
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