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Sign of a creative mind is hidden in the work of the artist. We don’t just see their artwork, we feel it, or it does not count as an art. But since the dawn of artificial intelligence (AI), it appears like everyone is becoming an artist. Those who never even thought of creating something eye-catchy are drawing paintings on a digital canvas with their digital friend, AI. Anyone can feed some data to this virtual thinker to generate art. Most importantly you can sell this art by minting it as an NFT.
We Are Losing Quality Over Quantity
NFT or a non-fungible token is a virtual asset persisting on a blockchain representing ownership of the holder. You can consider it as the cousin sister of cryptocurrencies which are different in terms of fungibility. You cannot exchange your NFT with another NFT unlike the virtual currencies. People are crazy over this concept as they agree to pay hefty amounts over an image of literally anything.
But how is it a killer of creativity? Because it does not require an individual to step out of the box. As we mentioned above, we feed some data to an algorithm and the AI will take care of everything. People have become so inclined over generating revenue streams that they are willing to compromise quality over quantity.
An algorithmically generated NFT collection has the potential to create thousands of art pieces in a matter of minutes. This has led people to feed anything they can think to artificial intelligence and come up with a fresh digital collectible which they eventually put up for sale.
This has given rise to the fraudulent schemes to lure potential victims into the red circle, leaving them holding the bags. Social media has become a breeding ground for such malicious actors as it is easy to approach people while disguising as a “friend” who wants the best for them. Moreover, fake NFT projects, that are usually close copies of authentic collectibles, are always there in message requests on Instagram nowadays.
In 2021, when the crypto sector exploded and filled the investors’ bags with profits, NFT space got recognition too. But soon the market plunged and investors started fleeing the market to save whatever was left of their digital assets. Experts don’t believe that NFTs will rise again as it was a bubble that burst.
The point is, AI is getting smarter and smarter everyday which is taking away the most important quality from humans, ability to think. One might know that in order to create something valuable, they need to think mindfully. It is the human tendency to find a shortcut in everything.
NFT has much more utility than being just an image on the blockchain. If we focus on other applications, then it may help prevent creativity of traditional artists from being killed by something that cannot think beyond the data it is fed with.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
