You Can Now Buy a Color via NFT. What Does This Mean for Art?

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You Can Now Buy a Color via NFT. What Does This Mean for Art?

The year is 2022 and everything is for sale online, even colors. With Bitcoin, a type of web-based currency, you can buy NFTs, or non-fungible tokens, of apes, avatars, or even the long-lost Semper Augustus tulip, a flower so coveted in the 17th century it once sold for as much as a house before its value crashed back down to earth.

Each one is comprised of a long string of supposedly unique code called a token; you can keep it, or you can sell it to someone else, ideally for more money than you paid, but often it goes for much less.

In exchange for your money, you will get no bulbs, no monkeys, and no pigments–only the string of code and the speculation around its worth. (That’s what makes the Dutch red-and-white “broken” tulip picture a rather good, if niche, joke about the perils of puffed-up markets.) And now, you can even buy your favorite shade of blue from a marketplace called the Color Museum.

Published by Katy Kelleher in MSN.