Tons of people got rich off of crypto, and now we might be witnessing a new wave of digital property millionaires if the NFT revolution pans out.
No matter where you might stand on the NFT debate, there’s no doubt that there’s huge money involved in the trend.
From Beeple’s collection selling for millions to the various NFT startups emerging on the scene, cryptocurrency’s cousin is the latest to arrive and has stolen the show for about two years now. And, like crypto, it is inspiring its own set of parodies and satirical commentaries. In this case, it happens to be in the form of a performance art piece called NFT Bay (after the infamous Pirate Bay of Internet days long past).
For those of you who might not remember the Pirate Bay, it was a one-stop-shop for all things digital media and beyond. Because of this, it gained a notorious reputation along the lines of Napster though some credit it and things such as Limewire with ushering in the digital media age we currently enjoy.
At its core, NFT Bay asks viewers to question what “ownership” means in a digital space. After all, NFT’s promise buyers that they will own the digital rights to a piece of art or media but, in a world of right-clicking and saving files, what utility does this right have? According to Australian Geoffrey Huntley, not much, yet there is an acknowledgment that value is in the eyes of the beholder.
Like the Pirate Bay of the past that allowed Internet users to download everything from music to movies and video games, NFT Bay promises visitors the ability to download a whole 20TB worth of NFTs, The Verge reports.
The website adds that most are of the “bored ape” line of NFT files.
In terms of a response, Huntley certainly got it with many Internet users chiming in on the NFT and broader cryptocurrency debate.
“What people are buying when purchasing NFT art right now is nothing more [than] directions on how to access or download an image,” Huntley told the New York Post.
“The greed/scamming going on is sickening.”
To many people, NFT Bay is stark proof in a satirical form that all of this is a bunch of nonsense. To people who support the NFT revolution, however, they point out that this kind of thing proves that “ownership,” not the file itself, has some value. It is fair to keep in mind that the things typically purveyed on Pirate Bay did have real-world monetary value so…maybe there’s something to that argument?
Plus, let’s not pretend like 20TB isn’t a horse pill to swallow. Performance art is nice and all but, to participate in this piece, you’re going to need some disk space.
On the bright side of things, you don’t have to participate in performance art to appreciate it and, in terms of starting a conversation, Huntley’s piece is proving more than effective.
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