Rich Morons of the Art Market Strike Again

Cryptoart, cat GIFs, and burning an original Banksy

Digital image of a pixelated cat with a pop tart for a body and a rainbow coming out of its butt, flying through a dark blue starry sky
Still from Nyan Cat GIF sold for 560K

Imagine taking a digital portrait of someone famous — let’s say George Clooney. You embed a code into the meta data of the photo, which proves that you’re the photographer and that the photo is one of a kind, and then you sell the digital file to an art collector for $100,000. At the same time, you release a high-resolution version of the…