Will NFTs Replace Conventional Art?
Will NFT’s Replace Art ? — Dusable Lewis | Podcast on Spotify — open.spotify.com
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Are nft’s used for art theft? Some would say yes, it’s actually the wild west when it comes to plagiarism and blatant ripoffs.
•How are thieves using NFTs to steal art?
Since most storefronts for NFTs are automated and only verified by blockchain there’s no person verifying the legitimacy of these works of art. Subsequently this results in rampant theft of other people’s art. Each storefront is self-contained and does not interact with other ones, for example if you post a one-time purchase on opensea.com you can post it to other storefronts as well. Now one of a kind nft is owned by multiple people which is not ideal. It’s actually quite dishonest that you can post an nft as one of a kind on multiple platforms and there can be multiple owners of that nft. And yes you could always make a legal claim but it’ll be very difficult with digital art because verifying who created it is almost impossible.
•Why don’t people talk about nft theft?
People don’t talk about ntfs being used for theft because they are in the honeymoon phase, they believe that it’s the next big thing and it’s making art more accessible to more people. Although that couldn’t be any further from the truth because you can never replace physical art with letters and numbers on a computer. Millions of people can download the image of an nft. Technically you are supposed to be able to verify who’s a real owner who’s not but nobody’s going to have someone open up an application and prove it. Nobody talks about nft’s being used for theft because nobody wants to be shunned. Nobody wants to be an outcast for going against the masses that support it.
•How can we stop neft theft?
When it comes to the stealing of art we have always had ways to verify what’s real and what’s not. There are thousands of tools used just for the purpose of distinguishing fake from real art but that’s only in the physical form. When it comes to digital art it’s really hard to determine who it belongs to or who even made it originally. When it comes to digital art we have to go buy who uploaded the image first and that does not determine who made the image it only determines who was the quickest to upload it to the internet. There’s no way to truly know who made a piece of digital art, you can only know who uploaded it first. You can make the argument that someone could steal a physical piece of art and sell it as their own but people are more likely to steal digital assets than physical ones. There is truly no way to stop the theft of art in the nft market. There isn’t even a way to track who bought what or who truly uploaded it.
•Are nfts used for money laundering?
Art has a bad reputation for being used for money laundering and ntfs are no different. For a long time the rich have used art as a way to escape taxes and other financial responsibilities. It has also been used historically to boost the sales of specific artists that a rich person might like. Rich people using their money in a rotating door manner to boost numbers for their friends and family has always been the thing in many other categories like film and music but it’s the easiest to pull off with art. People can hear a song and know that it’s terrible or watch a film and know that it’s awful but it’s not as easy to tell someone that their art is bad because it is a lot more subjective than other forms of visual or audible art. When it comes to art, whether digital or physical, is the most subjective thing on the planet. A banana taped to a wall literally sold for millions of dollars….. Need I say more?
•Will ntfs replace physical art?
Physical art has been around since before humankind and is not going anywhere anytime soon. You cannot decorate your house with ntfs and that alone will never allow digital art to take over physical art. Although both physical and digital have issues with plagiarism digital art assets can never truly be one of a kind because anyone can copy and paste it from the internet. If you want to make a fake a physical art you have to actually sit down and make it which is not as easy as copying and pasting from the internet. So that there’s no digital arts will never take over physical art
We could be plunged into the dark ages at any moment and there will be no digital art… only physical.
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