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Will NFTs Kill Traditional Art? Famed Collector Cozomo de’ Medici Makes The Case

Digital journal and gallery Artnet gave Cozomo de’ Medici the keys to the fort. The infamous NFT collector took over their very talked-about Twitter account to lift hell. Cozomo de’ Medici’s thesis is that “the internet killed the yellow pages. Netflix killed Blockbuster,” and NFTs will change conventional artwork. A daring prediction, we all know, however let’s give the pseudonymous collector the good thing about the doubt and discover his thread.

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The story begins with Artnet NFT 30. A listing of the 30 most influential folks within the NFT world. Of course, Cozomo de’ Medici was one in all them. As a publicity stunt, Artnet gave Cozomo management of their Twitter. “And starting now, I will be taking over the ARTNET Twitter! I warned them I may be controversial ;),” de’ Medici said. And then, “Ok frens, so I dropped a bit of a bomb over on the Artnet twitter account. They had NO idea I was going to do this!”

Besides NFT suggestions and commentary, Cozomo de’ Medici made a reputation for himself on Twitter by making outrageous statements. One of them is, “Crypto billionaires will flip traditional billionaires. NFTs will flip traditional art.” Let’s discover that concept.

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NFTs Will Kill Traditional Art, According To Cozomo de’ Medici

The infamous NFT collector begins by evaluating the NFT revolution to the appearance of Reality TV. “For almost 100 years, the studios decided which actors would be lucky or talented enough to become stars. But then in the 2000’s, everything changed. The cameras turned from focusing on actors, to every day people. With Reality TV, soon it wasn’t a trained actor who was getting famous, but your classmate, co-worker, or next door neighbor. ”

Ok, thus far so good.

Then, Cozomo turns to artwork. For centuries, “kings, queens, and noble folk decided which art was relevant.“ Then, the tide shifted, “in the Victorian era of the 1800s, galleries, museums, and collectors began to move markets.” The downside right here was that the general public had zero entry to those artists. By the time they realized “about Warhol or Basqiat, their work has become expensive, the best pieces gobbled up by known collectors and market makers.”

Enter NFTs. “No museums. No galleries, other than the marketplaces, and the galleries made by collectors themselves.” A heap of now well-known artists got here out of this transformation of paradigm. But that’s not all, “any artist, from any where in the world, with no invitation, can mint a drop.” Also, the facility shifted to the patron. “YOU can determine which artists will outline this era.“

You’re In Control Of The New Art Elite

Then, Cozomo de’ Medici shouts out two artists. Who, after all, are a part of Artnet NFT 30 as nicely.

Photographer Justin Aversano and Digital artist Xcopy. Who, after all, are a giant a part of Cozomo de’ Medici’s assortment.

To end, de’ Medici goes all in. “We are the market makers now. We create our own museums. We decide which art defines this generation. We are the digital renaissance.”

The reactions have been blended. Some folks don’t purchase it, some folks assume Cozomo de’ Medici is a genius. In what camp are you? Are you satisfied or nah? Is Cozomo exaggerating for impact? Or does she or he actually consider that? Is Cozomo forward of his or her time or clinically insane? And, extra importantly…

Who’s Cozomo de’ Medici?

No, he’s not Snoop Dogg. That was a publicity stunt that labored too nicely and even journalists nonetheless consider.

To reply the title’s query, let’s quote the publication that began this entire mess. In Artnet NFT 30, they introduce him as follows:

“Ever since the mysterious collector behind this Twitter handle emerged on the scene in August, they’ve captivated the cryptorati with a combination of gnomic utterances and sage NFT investment advice, all packaged under a playful identity claiming a parallel between the famous patronage of Renaissance Florence’s Medici family (albeit with a tweaked spelling seemingly borrowed from Seinfeld’s Kramer) and Cozomo’s own pursuits in the digital art world today.”

Related Reading | Christie’s Will Auction Original Art From Gary Vee ‘s Veefriends NFT Collection

And about his assortment, an enormous a part of this story, Artnet says:

“With astonishing speed, Cozomo acquired a collection of Art Blocks and CryptoPunks alongside NFTs by Justin Aversano, Tom Sachs, and a host of other artists. He now owns hundreds of artworks, including coveted examples that the crypto community calls “holy grails,” which might be collectively valued within the tens of thousands and thousands of {dollars}— together with what he calls a “grail of grails,” XCOPY’s Right-click and Save As man,”

The estimation is that his entire assortment is value $17M roughly. Take that for what it’s value.

Featured Image from Cozomo de’ Medici's Twitter web page | Charts by TradingView

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