Ippolito interviewed by Observer about NTFs and technology in art

John Ippolito, professor of new media, spoke to the Observer about famed art auction house Christie’s launching a venture fund to improve technology in the arts despite a downturn in NFTs. Ippolito told the Observer that he believes once the hype surrounding cryptocurrency is no longer profitable, the incentive for money to flow into the NFT ecosystem will dry up. “Some people used art to validate the cryptocurrency they owned. It’s not that I think NFTs will definitely disappear, but this is a low point in the morale.” He added that the downturn has led to companies pulling out from blockchain investments and Christie’s Ventures was launched at a strategic time. “They’ve made a lot of money with (NFTs), and the people who are true believers should stick with the program,” he said. Cryptosaurus shared the Observer report.