Bankless SotN #35: NFT MANIA! Are NFTs the Future of Art? Nifty Gateway Founders Griffin and Duncan
Feb 24, 2021
Griffin and Duncan Cock Foster, co-founders of Nifty Gateway, dive into the vibrant world of NFTs and their impact on the art scene. They discuss how NFTs are redefining ownership and accessibility in art, likening their rise to early Bitcoin. The duo highlights the role of Nifty Gateway in curating top-tier digital art and streamlining transactions with credit cards. They also touch on the burgeoning interest from musicians leveraging NFTs for new revenue streams, predicting a digital renaissance as artists embrace this transformative technology.
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NFT Variety
- NFTs vary widely, from simple sets like CryptoPunks to complex, high-effort digital art.
- Nifty Gateway focuses on the latter, featuring artists like Beeple and RAC.
NFT Regret
- Griffin Cock Foster bought 10 editions of the NFT "Last Stand of the Nation State" for $40 each.
- He gave away seven, and now each one is worth $20,000, causing him regret.
True Digital Ownership
- NFTs represent true digital ownership, unlike centralized items like Fortnite skins.
- Blockchain's decentralized nature ensures the NFT's existence even if the platform disappears.