Political Economy of the Crypto-art Craze

Abstract

Abstract This paper explores the rise of non-fungible tokens (NFTs) and their impact on the art world. By examining the esthetics and political economy of crypto art and its relationship to online pop culture, it questions the value of NFTs and whether they truly represent a source of income for artists or simply contribute to the speculative nature of crypto investments. This paper concludes by asserting that the world of crypto art is dominated by right-wing libertarians and black box algorithms, and that a radical redistribution of wealth is necessary to address the issues of power, race, and gender within the industry.