Digital ownership

When I think of my outgoings, it comes down to access and an on demand culture.

I pay subscriptions for on demand, music, media and music software that I use day in, day out.

I’ve never paid to digitally own music unless it has come with a physical copy.

So with this distinction of what I pay for and what’s worth my money, I honestly find it to some extent baffling as to how NFTs have become a thing. Non fungible tokens. The idea of digital ownership is a bit crazy to me, because it is the equivalent of owning nothing, even if it is presented as ‘scarce’ or exclusive.

The idea of paying vast amounts for collecting something has always been a thing, from baseball and pokeman cards to canvases of famous paintings.

However, what is rather infuriating about NFTs is that they are not even a tangible product but use an enormous amount of electricity. What a waste.

There has been an inevitable rat race and hustler’s cycle between creators and buyers who are trying to get rich quick but the likelihood of most NFTs having any value at all is next to nothing. Maybe that’ll change in future but for now, it appears to have been a fad that went as quick as it came.

In a world where there is so much information and artists are trying to figure out how to sustain themselves in a digital world, it’s worth evaluating the way to which we value that which we create, but I am no way near convinced that NFTs and the underlying idea of scarcity is the right answer moving forward, especially where ecological sustainability is concerned.

If you are a creator, you are better off not spending any energy on trying to create or promote this kind of thing as you will be less a creator for it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s