Looking Outwards 11: Societal Impacts of Digital Art

Beeple’s NFT, “Everydays” sold for a whopping price of 69 million dollars to a crypto company. His piece is a piece of digital art relying on the blockchain technology to stay immutable and hold value. This is a new realm of conceptual art. Also, this type of art has a huge social impact. There are people of all ages in all professions making an insane amount of money off NFTs now and no one knows how long this can last and how reliable this is. The whole idea of NFTs rely on the authenticity and the ownership of the art. However, authenticity of digital art is conceptual and only happens when everyone believes in it. It will be interesting to see how many more people will invest in NFTs in the future and how much they will be worth in a few years.

https://www.washingtonpost.com/entertainment/museums/beeple-digital-artwork-sale-perspective/2021/03/15/6afc1540-8369-11eb-81db-b02f0398f49a_story.html

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