From Abby Schultz article titled, NFTs Rock the Art World- What's Next?, examines and explore the concept and workings of an NFT or nonfungible token. Within the article, Schultz describes an NFT as "unique digital works encrypted with an artist's signature that prove authenticity and ownership." Schultz would continue to describe the importance of this new method of ownership for digital artists to have on their work and seemed impossible in the past. The article expresses that digital art isn't the only realm that has led to NFT, other mediums including media arts, film, music, and motion graphics. Many artists would find confront in this new form of ownership with their digital art pieces such as Ash Thorp, Refik Anadol, and Mike Winkelmann aka Beeple. This would allow many artists to work independently from studio and industries with their own handling on their works. Within this past year, Beeple was able to use the workings of NFT's to sell another piece of his work titled Everydays: The First 5000 days. This piece would sell for over $69 million, leaving a last impression on the art community and art history. While many would see this as a breakthrough for independent artists, others within larger corporations would see this as a threat knowing that these artists would have been relied on for graphic design work within their businesses but are now working outside of that norm. While NFT's are seen to be a new concept, they've existed since 2014 with Kevin McCoy and Anil Dash selling a work titled Quantum. While many would find NFT's to be something new and difficult to understand, many see a bright future with this new method. Joe Charalambous, president of TPC Art Finance, comments about the worry behind NFT comparing the works done through that platform to those outside of it such as Bansky or KAWS. Comparing the two would bring problems to collector thinking that those two are one and the same but aren't. LiveArt, a peer-to-peer online marketplace has started integrating NFT's into their marketplace and commenting on the matter saying that art is ever evolving and people need to go where the talents is moving to.
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