NFT is a bubble? Or a value carrier?

NFTs are a hot area these days. NFT-based digital collectibles and artwork are popular sectors in this hot field. The famous encrypted artist Beeple was pushed to the cusp of NFT artwork by an auction at Christie's.

In that encrypted art auction, Beeple's work sold for a sky-high price of $69.3 million in ETH. This news quickly went out of the circle and hit the headlines of major traditional media, and it also attracted countless people to question the NFT bubble.

I mentioned this news in my article a few days ago. I am not an expert on whether NFT artwork is worth the price, and I don’t know much about its artistic value. Therefore, I am still uncertain about the future price and value trends of this type of artwork and collections, and I am in the observation stage.

I suggest that ordinary investors also get involved cautiously. On the one hand, it is because their value is difficult to judge, and on the other hand, because their prices are generally too high, far exceeding the affordability of ordinary investors.

A piece of news today made me more cautious about this kind of artwork.

After deducting auction fees and taxes, Beeple himself received $53 million worth of ETH for the piece of art that Beeple sold for.

He told the media "New Yorker" that he immediately exchanged all the ETH from the auction for US dollars, and later said in an interview with "Fox News" that the NFT price is "absolutely" a bubble.

He also said: "I'm not a pure encryptionist. I was engaged in digital art creation long before I did these things. If all these NFT things disappear tomorrow, I will still be engaged in digital art creation."

Seeing this public comment made by this person who has made such a huge profit from the NFT trend, I have a feeling of "getting cheap and selling well". I don't know how the buyer who bought his artwork at a high price felt when he saw such a comment.

I think even if encrypted art will really become a new art form in the future, it will be new artists who will push this art form to a higher level, and it will be those who are not only interested in the art itself but also in NFT and blockchain. An artist who has a certain understanding and love for technology, not someone like this who has no deep affection for NFT and blockchain technology.

I don't know much about encryption art, but I have some interest in traditional Chinese painting and calligraphy. As far as I know, apart from loving art itself, almost every traditional artist is also a fan of the four treasures of the study: pen, ink, paper and inkstone. It is hard to imagine an artist who does not love the tools and media used to create and carry art, but only loves art.

This news made me more cautious and careful about this kind of artwork in the future, and I will not get involved easily.

When I judge a digital currency or DeFi project, I will pay special attention to the remarks and operations of the project team. I believe that investing in a project is ultimately investing in people. Whether a project is successful or not, the team plays an absolutely important role in it.

Now it seems that when investing in encrypted art, the personality of the creator is also very important. People who do not have a deep understanding of blockchain technology and love only purely create "art", I think his works may have limited value in the long run.

Today, the creators of Crypto Punk, which has taken the number one position in encrypted collections, originally created these punks with enthusiasm, hoping to express blockchain technology in an artistic way. It's hard for me to imagine that someone without a passion and feeling from the heart can create this kind of work. Although it looks very simple and even crude, it had epoch-making significance in that era.

Just as Satoshi Nakamoto created Bitcoin not for profit but for proof, the creators of cypherpunk did not create these works for profit, but gave them all away for free, hoping to let more people understand and Understand blockchain technology.

Perhaps only works created by blockchain enthusiasts with such primitive and pure human emotions can make their works the most valuable works.