Books

Welcome to @zacharyhsmall! 

Zachary is the author of Token Supremacy, a new book on the rise and fall (and rise again?) of token-based art. 

They have agreed to do an AMA on all things art, finance, and their experience documenting the mania of the previous bull market cycle.

Reply with your questions. :)

Chief art reporter at the New York Times and author of TOKEN SUPREMACY (Knopf 2024)

Building /bright-moments - minting onchain art IRL | /purple #15 | FID 129 #magikarp

@zacharyhsmall - I perceive two trends in digital art: (1) curated 1:1 and limited editions meant to replicate the traditional art model of valuation based on rarity/scarcity, and (2) lost-cost open editions that try to maximize distribution and visibility for the artist. Given the nature of NFTs, which of these approaches do you think will win out in the long run?

I think it's a matter of timing and audience. 

Open editions have not historically worked to create a long-term business model for artists. Ask photographers, it's been a nightmare. And I'm not sure that it's been successful with digital artists. PFPs definitely had some success here, but it's become exceedingly difficult to break through the noise with a new project there.

So for an artist, I think 1:1 limited editions are a more viable strategy. Scarcity remains a huge appeal to trad collectors — to the point where gallerists sometimes beg their artists to STOP making work so it doesn't dilute the value of their markets.