, Columnist
The NFT Craze Actually Does Make Sense
The world is witnessing the beginning of a whole new genre of art and a new generation of art patrons.
Who will be the Medicis of the blockchain?
Photographer: ALBERTO PIZZOLI/AFPThis article is for subscribers only.
Is it crazy to pay $69.3 million for a digital artwork that is itself a composite of the artist’s other major artworks? More specifically, is it crazy to pay that much merely for the right to claim you own the original copy of a collection of pixels that can be reproduced by anyone?
The more I think about it, the more I think the answer is no — an emphatic no. This purchase is not only sane but also bold and brilliant.