Are NFTs the future of art? | The Stream

Associated with rainbow cat gifs and images of bored monkeys, NFT artwork is now being sold for millions at high-end auction houses including Sotheby's and Christie's. The multibillion-dollar market for NFTs has generated new sources of income for creative professionals and vast opportunities for art collectors, while attracting questions about whether the crypto-fueled ecosystem is a bubble waiting to burst.

NFTs, or non-fungible tokens, are a certificate of ownership for a digital asset. At times criticised as an over-hyped digital status symbol for the crypto rich, NFTs are changing how art is bought and sold and giving digital artists the ability to monetise and authenticate their work. The technology could become more significant with the development of the metaverse and other Web3 spaces.

But with the recent cryptocurrency market downturn, values of most digital assets have plummeted. According to the data website NonFungible, NFT sales fell to a daily average of about 19,000 in May, a 92% decline from a peak of about 225,000 in September.

In this episode of The Stream, we'll look at the future of the NFT market and its impact on the art world.

Join the conversation:

#aljazeeraenglish
#ajstream
#NFT

[trishawallor]

NFT's are not the future of anything. Not of arts, not of investments. My investment portfolio is down by more than 40% and this is the main reason. NFT's are an easy and innovative way to rip of new and unsuspecting investors. Same with some cryptocurrency(take luna for example). So it begs the question, how and where are intending investors now supposed to put their money. Is there no safe bet for newbies any longer?

[kareemkalisari]

“You have to carefully choose the OPPORTUNITY and make sure that HISTORY would be on YOUR side."

─ NELSONMANDELA.

[tonycuneo]

I think the tanking value of NFT's adversely impacts their future as thre history of art.

[Deline]

Love this news channel, crypto and NFT spaces need to be seen more

[kareemkalisari]

Each of us has a role to play in protecting our planet 🌎🌍🌏

[Vrewlab]

It is very helpful for working with nft art. thank you

[hermanspaerman]

Jazeera three months late to the news.

[MiggsMultiple]

This fad was very brief and already passed...

You're very late to the party

[tka-tpa-prapatankalisari]

VIVAT ACADEMIA✍️🎓🎓🎓🎓 !.

VIVANT PROFESSORES✍️🎓🎓 !.

[tka-tpa-prapatankalisari]

As CALIFORNIA'S attorney general,
🇺🇸 I worked with students, advocates,
and other state attorneys general to fight for relief for Corinthian STUDENTS✍️.

🇺🇸 I PROMISED that we would do everything in 🇺🇸 our POWER to help them,
and finally, that PROMISE has been fulfilled.

─ H.E. Kamala Harris 🌺
The Vice President of the United States 🇺🇸🇺🇸.

THANK YOU/AND MAY GOD BLESS US ALL.

✍️✍️✍️

[nansmamb]

Reading about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market, any pointers on how to make substantial progress in earning? would be appreciated.

[kareemkalisari]

“The FUTURE of this continent lies not in the hands of the discredited REGIMES
that have allied themselves with AMERICAN IMPERIALISM 🇺🇸.

It is in the hands of the common people of AFRICA 🌍 functioning in their mass MOVEMENTS."

─ NELSONMANDELA.

[sloptitles]

NFT *could have* been the perfect modern way to regulate art.
Bitcoin *could have* taken the world to the next stage in the evolution of economy.

Greed, politicians in denial, and banks clinging to power are ruining everything and turning what could have been perfect into an ecological disaster.

[MadCowOnFire]

I love the potential of NFTs, but frankly I couldn't care less about NFT art. If an NFT doesn't have functionality or utility, that's a hard pass for me

[viewroyaltytv]

NFT digital art is the best and reliable

[UFOhunter]

Me am real person, me say now is best time for to invest, me say nft good

[kareemkalisari]

🌎 🌍 🌏 🤷
All of us share this world for, but a brief moment in time. 🤔

The question is whether we spend that time focused on what pushes us apart?

or
whether we commit ourselves to an effort -- a sustained effort -- to find common ground, to focus on the future we seek for our children?

and to respect the dignity of all human beings?? .

It's easier to start wars than to end them. 

It's easier to blame others than to look inward. 

It's easier to see what is different about someone than to find the things we share. 

But we should choose the right path,
not just the easy path. 

There's one rule that lies at the heart of every religion -- that we do unto others as we would have them do unto us. 

This truth transcends nations and peoples -- a belief that isn't new;

that isn't black or white or brown;
that isn't Christian or Muslim
or Jew. 

It's a belief that pulsed in the cradle of civilization, and that still beats in the hearts of billions around the world. 

It's a faith in other people,

and it's what brought me here today.

---- ---- ----
🇺🇳 *United Nations* الأمـــــمُ المتّـحــــدَة ✓
---- ---- ----

Thank you.
And may God's peace be upon you.
###
...

[JogBird]

Im fine w just taking a screen shot, dont need an nft, thanks

[xpliking]

Finally Aljazeera brought attention to NFT’s

[cloudnetwrk]

What’s the difference between an NFT and a cartoon?