NFTs: A Flash in the Pan or a Herald of the Future?

By Ooi Kok Chuen

June 2022 PENANG PALETTE
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The original CryptoPunk.
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WHEN BEEPLE’S NFT, Everydays: The First 5,000 Days (2021), sold for US$69.3mil at Christie’s March 2021 auction, it triggered a seismic revolution in the art world, so much so that the year 2021 was dubbed the JPEG Summer.To take the medium to another level, Beeple and supernova singer Madonna have collaborated on three videos that will be sold as NFTs for charity.NFTs, or non-fungible tokens, hit stratospheric heights when Beeple, a.k.a. Mike Winklemann, a virtual nonentity despite a 14-year active...

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Ooi Kok Chuen

is an art-writer and journalist, and the author of MAHSURI: A Legend Reborn (Ooi Peeps Publishing), an adult contemporary fantasy “movel” (a novel conceived as a mock movie) spun from a local legend.

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