While educating myself on the online market with cryptocurrencies, the Youtube video brought up some more technical terms that clarified a lot of my questions. I still am trying to wrap my head around the fact that you can put real money into this database but then never get a return in the sense that it's an online art and not attainable. Yes, you own it, but will it ever be in your hands unless printed, probably not. So then referring back to the article we read last week, it makes sense to have a screen in your house that shows the digital files in your home.
The article by Connor on Rhizome presented other ideas the followed through with the video and made me think about how ideal it is to have tokens but then expand on those with creating potentially offspring and renditions of a piece. Not only is the artist able to make a bigger profit, but the people are also able to get more out of the product and put more time and energy into the idea of creating a collection.
For me the most confusing part of NTFS is the fact that there is a huge logistical aspect on online art and selling with so many terms and hoops you have to go through with maintaining the art, keeping it relevant, and how to pass it on, as well as if the value increases or decreases over a period of time a buyer has. I guess learning more about the terms of the agreement, how to get a hold of an item, where is it stored, what legal issues do you have to follow and what happens if two people go in on a deal? Or is that even possible?
The last article I read about human's obsession with ownership, what does that looks like, and ultimately having an exclusive product. We want a piece that we can say no one else has, or few people have owned in general. So what does that look like? How valuable is that particular piece? How can someone or the owner make it valuable? How does one promote a product to become wanted? While I have a lot of questions to research for myself, I have a certain taste and aesthetic so how do I target a certain audience to make sure that they will buy it using cryptocurrencies?