Crypto crash

Crypto crash May 13 2022 Picture: via Twitter There's a cryptocurrency crash going on, and who knows where it will end. Ethereum, which is used in the art world to buy NFTs, is down more than 50% from its peak in November. As it happens, the British Museum auctioned one of its 'Super Rare'* Hokusai Great Wave NFTs then. So if you were the lucky bidder, you're now down about 50% just on the currency side alone. That's before we worry about NFT values themselves. *So rare it's one of ten. That is, if you can create any degree of scarcity around a jpeg which is infinitely reproduceable, which is in turn an image of a widely reproduced print which is itself not exclusive to the British Museum.

Crypto crash

Crypto crash

May 13 2022

Image of Crypto crash

Picture: via Twitter

There's a cryptocurrency crash going on, and who knows where it will end. Ethereum, which is used in the art world to buy NFTs, is down more than 50% from its peak in November. As it happens, the British Museum auctioned one of its 'Super Rare'* Hokusai Great Wave NFTs then. So if you were the lucky bidder, you're now down about 50% just on the currency side alone. That's before we worry about NFT values themselves.

*So rare it's one of ten. That is, if you can create any degree of scarcity around a jpeg which is infinitely reproduceable, which is in turn an image of a widely reproduced print which is itself not exclusive to the British Museum.