We’ve sadly not reached peak NFT yet

None of this makes sense. It didn’t make sense back in March when I first tried to get my head around it all, and I’m none the wiser now.

Miramax is suing Tarantino over Pulp Fiction NFT auctionQuartz
Earlier this month, Tarantino announced plans to auction off unique digital versions of items from the 1994 cult classic, including scanned copies of script pages for seven scenes that didn’t make the final cut. The “secret” NFTs will only be viewable by whoever purchases them. But here’s the five-dollar shake: Miramax claims these NFTs are not Tarantino’s to sell.

Interpol and David Lynch release 2011 collaboration as limited NFT seriesNME
The New York band joined forces with the renowned Twin Peaks director for their 2011 Coachella performance, during which they combined Lynch’s I Touch A Red Button Man short film with their 2010 single ‘Lights’. Fans can now own the unique piece of work, with a limited series of eight NFTs up for grabs through the new Lynch x Interpol website. The non-fungible tokens include “newly recorded versions of ‘Lights’ joining Lynch’s engrossing animations”.

A fake Banksy sold for $330K is a perfect symbol of a wild NFT marketThe Next Web
There are numerous reports of NFT fraudsters selling fake artworks, stealing credit card information, and hacking into cryptocurrency accounts. Perhaps the most notorious example yet is this week’s sale of a fake Banksy NFT. […] As well as not looking like a Banksy, the piece was reportedly unsigned and hadn’t been authenticated by the artist’s agency. The true mastermind may forever remain a mystery. Whoever they may be, their ruse has further exposed the risks of buying NFTs.

Boy, 12, makes £290,000 in non-fungible tokens with digital whale artThe Guardian
Benyamin Ahmed’s collection of pixelated artworks called Weird Whales went viral during the school holidays. His success may be a harbinger of the digital business models that could disrupt the banking sector. His father, Imran, a software developer, described the artwork as similar to “digital Pokémon cards” and said they had been a big success because collectors realised their historical significance.

Their “historical significance”??

Author: Terry Madeley

Works with student data and enjoys reading about art, data, education and technology.

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