Could NFTs help the media, or are they just a sideshow?
Over the past several months, technology journalists have had to get used to a new concept: the “non-fungible token,” or NFT, a concept that has been lighting up the cryptocurrency world, as well as art and media. An NFT is a string of code that, once it has been “minted” (generated by a computer) resides on the Ethereum blockchain, a ledger of every transaction since the currency was created. The “non-fungible” part just means that a token can’t be exchanged for another string of similar code, so it’s unique. What has made this phenomenon so compelling is that these tokens can be associated with specific real-world objects: pieces of art, such as the digital canvas created by an artist named Beeple that sold for $69 million, clips of NBA highlights, or even newspaper articles such as the
SNL’s NFT Sketch Is Now… an NFT – After
Saturday Night Live aired a skit last week attempting to explain NFTs (featuring Kate McKinnon as U.S. Treasury Secretary Janet Yellen), the show has decided to… turn the sketch
into an NFT and offer it for sale. (Does your head hurt yet?) It’s being auctioned off on the OpenSea marketplace; last we checked, the price stood at just under $20,000. The proceeds go to charity. (
Art Dubai Offers a Glimpse of Art Market Future – Last week saw the return of Art Dubai, the first major fair to resume in-person operations after the pandemic year. Buyers were eager to spend, with sales including six-figure works by Ian Davenport and Iván Navarro. To assuage exhibitors’ fears, organizers offered them the chance to pay nothing up front and instead put a portion of their sales proceeds toward the cost of the booth after the event. (
Recommended Reading: NFTs before the hype took over engadget.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from engadget.com Daily Mail and Mail on Sunday newspapers.
The Convivial Society
The Convivial Society: Vol. 2, No. 6
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“Attention discourse” is how I usually refer to the proliferation of essays, articles, talks, and books around the problem of attention (or, alternatively, distraction) in the age of digital media. While there have been important precursors to digital age attention discourse dating back to the 19th century, I’d say the present iteration probably kicked off around 2008 with Nick Carr’s essay in the
Atlantic, “Is Google Making Us Stupid?” And while disinformation discourse has supplanted its place in the public imagination over the past few years, attention discourse is alive and well.
NFTs are neither miracles nor scams theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.