Non-fungible tokens (NFTs) are all the rage - at time of posting. Should we all be rushing to buy digital images of gorillas wearing sunglasses? Or are there better ways of supporting struggling artists?
In this episode, Jake and Ant look at whether NFTs represent a bright future for helping artists monetize their work. They begin by discussing how NFTs work, what web3 is and why people are so excited about where this technology could lead us. Bill Gates famously warned that one of the early design flaws of the internet was that it would be hard for creators to monetise their content - and we've certainly seen the risks of this with the rise of platforms like Spotify - so does web3 hold the answers? Along the way, they look at what art is, what it means to own art and whether NFTs will actually fulfil all their promises. Is the current hype around NFT just the beginning, or is it a bubble? Or, worse, are NFTs a kind of ponzi scheme or pyramid scheme?
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