Overview
āA perfect book to understand and to laugh at the craziness of the art world today." āJerry Saltz, author of How to Be an Artist
In 2021, when the gavel fell at Christieās on the sale of Mike Winkelmannās Everydays seriesāa compilation of five thousand digital artworksāit made a thunderous announcement: Non-fungible tokens had arrived. The ludicrous world of CryptoKitties and Bored Apes had just produced a piece of art worth $69.3 million (at least according to the highest bidder). On that day, the traditional art marketāthe largest unregulated market in the worldāput its stamp of approval on a very new and carnivalesque digital reality. But what did it mean for these two worlds to collide? Was it all just a money laundering scheme? And come on, what was that piece of digital flotsam really worth anyway?
In Token Supremacy, Zachary Small works through these and other fascinating questions, tracing the crypto economy back to its origins in the 2008 financial crisis and the lineage of NFTs back to the first photographic negatives. Small describes jaw-dropping tales of heists, publicity stunts, and rug pulls, before zeroing in on the role of "security tokens" in the FTX scandal. Detours through art history provide insight into the mythmaking tactics that drive stratospheric auction sales and help the wealthy launder their finances (and reputations) through art.Ā And we cast an eye toward a future where NFTs have paved the way for a dangerous, new shadow banking system.
A wild and spellbinding tour through a world that strains belief.
This book title, Token Supremacy (The Art of Finance, the Finance of Art, and the Great Crypto Crash of 2022), ISBN: 9780593536759, by Zachary Small, published by Knopf Doubleday Publishing Group (May 21, 2024) is available in hardcover. Our minimum order quantity is 25 copies. All standard bulk book orders ship FREE in the continental USA and delivered in 4-10 business days.
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