[-empyre-] Flow and NFT

[Renate Ferro]

Hi Patrick 

Patrick wrote: 
"-in watching the NFT craze in digital art, it seems that speculation in art, on “gas” fees, on Ethereum pricing requires nearly a moment-by-moment attention, or a rigorous set of analytical tools to do it for you.  Since the NFT world is a new social media ecosphere, this phenomenon seems to be an expression of its culture."

Thanks so much for making your first post.  Given the topic you have proposed, Flow, Impulse and Affect in Real Time, I think it might be interesting to unpack your ideas about NFT or an Non-fungible token in relation to flow.   Non-fungible” means that it’s unique and can’t be replaced with something else.  NFT’s are Ethereum blockchains.  Ethereum is a cryptocurrency like bitcoin.  This currency is being traded for digital art. In fact, Twitter founder, Jack Dorsey sold his tweet from March 2006, “Just setting up my Twittr” for 3 million dollars.  Absolutely anything digital can be sold.   
Can you perhaps say a bit more what you think about the flow of capital in relationship to digital and its cultural resonances especially in 2021 as we are feeling the global economic and cultural effects of a worldwide pandemic? 

  Thanks.  Renate
  

Renate Ferro
Visiting Associate Professor
Director of Undergraduate Studies
Department of Art
Tjaden Hall 306
rferro at cornell.edu