NFTs get the thumbs-down from some artists
Some consider the trend elitist; others say it encourages 'bad art', triggers speculation frenzy and has staggering environmental costs
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
WHEN non-fungible tokens, or NFTs, first exploded on to the market last year, proponents touted their potential to democratise art and give emerging artists new ways to earn money.
But these unique representations of digital artworks are increasingly drawing the ire of some artists, who say they exacerbate the commodification of art and are making only very few artists very rich.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
