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Americano

What's driving the NFT digital art boom?

Americano

The Spectator

News, Politics, News Commentary

4.0762 Ratings

🗓️ 24 March 2021

⏱️ 20 minutes

🧾️ Download transcript

Summary

A piece of digital art by the illustrator Beeple has sold for $69 million. Is it worth the cash, or just a picture on a screen? Freddy Gray talks to Nima Sagharchi, director of Middle Eastern, Islamic and South Asian art at Bonhams auctioneers.

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Transcript

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0:00.0

The Spectator is Europe's fastest growing current affairs magazine.

0:04.0

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0:06.3

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0:10.0

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0:13.8

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0:16.8

Go to www.spotator.com.com.org. forward slash gin.

0:28.6

Hello and welcome to the Americano podcast, a series of discussions about American politics and now the Joe Biden presidency.

0:38.1

We will be looking at how a 78-year-old president will change America

0:43.2

and we'll be asking if normalcy, which is what he promised to bring,

0:49.0

has returned to American politics.

0:51.3

The answer, of course, is no.

1:08.5

I'm joined today by Nima Sagace, who is director of Middle East and South Asian art at Bonhams.

1:14.4

And we're going to be talking about the extraordinary rise in digital art. This is quite an unusual subject for an Americano, but it does have quite an American focus,

1:19.5

because the most successful artist that we know of is called Beeple. And he's recently sold

1:26.3

a painting for 60 million, I believe it was.

1:30.5

Now, Nima, this is not something that Bonham's is involved with, is it?

1:34.5

The sale of digital art and NFTs.

1:37.6

But could you possibly explain as much as you can?

1:40.0

Because I realise it is a very strange subject.

1:42.4

What is going on with NFTs, which stands for non-fundurable tokens and the sale of digital art?

1:48.1

Yes, I would qualify the introduction by saying that I come to this as an enthusiast

1:52.7

and someone who's self-educating like a lot of people are in what is Virgin Territory

...

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