Ippolito quoted in Observer discussing NFTs

John Ippolito, professor of new media, was quoted in an Observer article about digital art like NFTS and how shifts within the collecting community have paved the way for companies to approach art as a financial investment. According to the article, discussing art and money has been “taboo” at art auction houses like Christie’s. Ippolito said that this is because wealthy collectors gained social standing based on their taste for artwork, not necessarily the price attached to it, and many continue to consider the impact of artwork on people’s lives as far more important than its monetary value. Ippolito credits the rise of NFTS for bringing questions of money to the forefront, shining transparency on how much artists truly make and how difficult it is to financially succeed in the art world. “It made the conversation possible. And if we want artists, we need to support them,” he said.