As auctioneers and artists rush into NFTs, many collectors stay away
The artist Michah Dowbak, who goes by the name Mad Dog Jones. Speculative buyers are flocking to crypto art while blue-chip collectors are holding back, fearing legal gray areas and copyright issues. Via Phillips via The New York Times.
by Zachary Small
(NYT NEWS SERVICE)
.- A handful of auctions this month testing the appetite for a type of investment known as NFTs seemed likely to prolong the nascent fad for ownership of works that exist only in the digital world. Missing from those transactions, however, were the blue-chip collectors who typically drive the art markets sales.
›C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTs
C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTs
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C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTsBy Zachary Small, New York Times
Last Updated: Apr 29, 2021, 06:22 PM IST
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Synopsis
Industry experts have observed a growing wedge between a new generation of digital speculators and an older school of art collectors.
Reuters
More than a dozen collectors interviewed said that NFTs raise copyright and other issues that sellers and buyers have not fully thought through.
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