Best Of: What the Heck are NFTs? Let’s Ask Beeple.

Sway

Podcast Notes Key Takeaways NFTs are digital proof of ownership and are still in their nascent stage.The market is definitely a bubble and most art will go to zeroBeeple intends to portray the weirdness of tech and its unintended consequences

Read the full notes @ podcastnotes.org

From Snoop Dogg to Melania Trump, it seems like everyone has gotten into the NFT craze in the last year, with billions of dollars worth of sales made in 2021. NFTs may be colloquial now, but the craze really picked up almost a year ago, when an artist named Michael Winkelmann (also known as Beeple) sold his work, “EVERYDAYS: THE FIRST 5000 DAYS,” for a whopping $69 million — the third-highest auction price involving a living artist, after Jeff Koons and David Hockney.

So this week, Kara is revisiting her March 2021 conversation with Beeple. They talk about whether his virtual collage, which stitches together 5,000 images (including lactating humanoid breasts and Buzz Lightyear with a bloodied chain saw) is actually worth $69 million, how he grapples with the environmental impact of crypto minting, and how NFTs will change how we buy and flaunt digital ownership.

You can find transcripts (posted midday) and more information for all episodes at nytimes.com/sway, and you can find Kara on Twitter @karaswisher.