Mostafa Heddaya’s feathers have been properly ruffled. In an essay for The American Prospect he outlines, in language meant to demonstrate his intelligence, that NFTs are absolute garbage and you should stay away. Let’s be honest: the counter-argument to NFTs can be developed without an investment in a Princeton doctoral degree.
You either believe that there is a generation of digital natives who are perfectly ok with purchasing non-utilitarian digital goods and will continue to do so or you don’t. Unfortunately for Heddaya, there are billions of dollars suggesting that people will and do value them.
That said, he’s entitled to philosophizing the definition of art as many have done before him. He starts off by essentially stating that contracts are worthless. Specifically, “A contract is a ghost story for adults”. It’s a valid argument but clearly he has never been the subject of a lawsuit. I can assure you that being sued doesn’t feel “vaporous”.
He seems more disappointed by the fact that the media is drooling over the sky-high sums some are willing to pay for NFTs. He states, “The garish media response to NFTs shows that the idea of art has become structurally indistinguishable from Silicon Valley business plans.” Zing!
I think he may have just forgotten that much of the digital world was dreamed up by many in Silicon Valley which is why they may have some similarities. However that’s where the line ends. An entire generation is growing up with access to iPads, iPhone, Alexas, and more. They don’t see the line between offline and online. That’s what Heddaya apparently doesn’t understand.
I’ll make sure to send this message to him via carrier pigeon.[Source]