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A jpeg for $70m: welcome to the strange world of cryptocurrency art | Digital art


The NFT craze strikes me as fascinating mostly as a continuation, in a new form, of the strange practice of collecting in general. The collector is fetishised in the art world – and in literature about art – as a disciplined figure with a keen eye who can spot beautiful things before anyone else, someone who is at once a connoisseur and a kind of entrepreneur. The collector’s impulses drive many of the mechanics of what we think of as “the art world”: auctions and sales, fairs and biennales, loans and donations to museums. Indeed, much of the world’s art is in private collections, though we have no idea how much, nor any way to begin to tally it up. Collectors accumulate their troves of paintings and sculpture and photographs for all kinds of reasons – love of art, love of the game of collecting, love of money. (Art is often spoken of as a good investment, one that always appreciates.) And perhaps the most crucial aspect of collecting is possession: the sense that yo ....

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