“These NFT sites are victim factories, and it’s not just naïve tech investors that are the victims—it’s artists since every artist selling work on these platforms is now an Ether investor too.”
– Artist
Kimberly Parker, on the “headless Ponzi scheme” that are Ethereum-based NFT marketplaces. Digging deep into the sales data of major platforms, Parker reveals what happens when the value of artwork is tied to the speculative value of the currency. “This feudalist system quickly turns artists into crypto recruiters, desperate to bring even more people into the fold.”