When I first started working on this blog, I thought I knew everything about NFTs, or at least all the important information; they were a unique type of file that was bad for the environment. From feedback I gathered before starting from my peers and my tutor, most people agreed NFTs were an interesting topic that they would like to know more about, and I would have to agree that I very much enjoyed learning the information I learnt while researching. However, the more I researched, the more I learnt the many negative sides of NFTs. From my interview with Tullio, a digital artist, I learnt that not only do NFTs harm the environment, but also the people they claim to help, the artist. Tullio told me that his and others’ music had been stolen by NFT makers, turned into an NFT and was being sold. I also learnt that the most common form of NFTs, the animal ones used in NFT “clubs” such as Bored Apes and Lazy Lions, were ruining the reputation of potential NFTs that could actually help artists.
Another thing I learnt about NFTs that ruined their reputation is that many saw it as, instead of a way to help artists, more of a get rich quick scheme, buying exclusive images for a low price, repeatedly selling it to themselves to give it a (questionably legal) high price, then selling it on. Many naïve first time buyers were caught by this scam, now owning nothing but an overly expensive JPEG file they can use as a profile picture on Twitter. Another issue I discovered about NFTs is that, a lot of the time, you aren’t actually buying the image. Instead, when buying an NFT, you are buying a sort of digital receipt, containing a unique code and link to the image. This means that you don’t even technically own the copyright to the image, and anyone could come along and download your NFT and use it how they wish.
I’m not trying to tell you you’re bad for buying NFTs, I wouldn’t want to do that, and I wouldn’t want someone to say that to me, however, I do think a lot of people have been misinformed about NFTs, drawn in by the promise of money, and bringing the power back to the artist. I want to help people learn the issues and provide alternatives to NFTs, and I hope I have been able to do so with my blog.
Overall, creating the blog has been a fun experience, I was able to do things I enjoyed with editing my video, and I was also able to try something new when editing the audio for my podcast. This blog has allowed me to learn and research a topic I have an interest in, while also trying something new with blogging, and I have thoroughly enjoyed the experience.
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