At Art Basel, everyone s playing it safe
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At Art Basel, Everyone s Playing It Safe - The New York Times
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Critics warn of bubble as celebrities cash in on art that doesn t exist
Despite concerns about sky high prices and quality, NFT art keeps selling
6 March 2021 • 2:29pm
Elon Musk and Grimes arrive for the 2018 Met Gala on May 7, 2018, at the Metropolitan Museum of Art in New York
Credit: AFP/Angela Weiss
Critics are warning of a dangerous bubble as celebrities and speculators make millions on a type of art that doesn t actually exist.
Online-only artworks, accompanied by a digital authentication stamp called a NFT or non-fungible token , were selling for millions this week even though they could be easily shared or copied by anyone on the internet for free.