@chrislarsc

Welcome to the NFT Trough of Disillusionment Foundation winding down really marks a clear moment in time. To me, it feels like the marker we'll remember as the end of the initial NFT era. Foundation was one of the leading platforms of that entire period, alongside SuperRare and Art Blocks. Foundation got so many things right, especially around onchain provenance and how to make that accessible to people, creating interfaces that truly allowed the art to shine. Looking forward now, it’s clear that we’re entering the next phase where non-fungible tokens–as a technology to enable the digital art market to exist–are right-sized. I look at the recent launch of Node Foundation and the way it’s structured and funded, and I think it will support artists for the long haul and allow the ecosystem to grow at a sustainable pace into the future. The Gartner hype cycle has played itself out exactly with NFTs. We are absolutely at the trough of disillusionment now. Foundation winding down truly marks the arrival of this moment in time. But for anyone who cares, it’s important to know that the journey doesn’t stop here. What comes next is sustainable growth and a market that will continue to evolve as the ways we interact with digital art and consume it become more accessible and easier through advancing technologies. The company that has acquired Foundation’s assets makes displays for digital art, and those displays are only going to get better and more affordable. I’m really looking forward to the day when it makes financial sense for me to have a display like that in my home; I can't wait to display all the art I collected during the original NFT cycle, properly appreciate it, and share it with others. Imagine a future where there is more of that everywhere and it's easy to believe that digital art will continue to grow into the future. Thank you to @kayvon for stewarding Foundation through its entire life and helping set the course for digital art: that should always be remembered.

14 replies

13 recasts

100 reactions