PAK ATTACK
Mar 02, 2022
5 minutes
By Aaina Bhargava
On December 4, 2021, it was reported that the record for the highest price ever paid for a work by a living artist, set by Jeff Koons’ Rabbit in 2019 at US$91.1 million, had been broken. The new record-holding piece, Merge (2021), had achieved US$91.8 million. But this sale was just the beginning of a controversy.
“A rtists should not self-identify. It’s like saying ‘I’m a genius’ when asked what you do for a living”
The “artwork” was in fact made up of 266,455 NFTs, each comprising a single dot known as “a mass”. These variously sized and priced dots were purchased, in varying numbers, by approximately 26,000 buyers within a 48-hour window on the platform Nifty Gateway. Every time a collector bought a new mass,
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