Are the Basel Fairs Eating Each Other? Kenny Schachter Has a Theory—and News of a Big Bezos Art Deal | Artnet News

Even Beeple thinks the current mania is a bubble, as he told my podcasting partner Kara Swisher. But the history of the art market is a history of bubbles, as are the histories of finance and the internet. All are still with us.

In a way, crypto only magnifies or exposes the historically intimate ties between art, status and money. When we are in the thick of operating in the art system, it’s easy to forget how the aesthetic value, historical value, monetary value are actively negotiated for each art object. What web3 did was simply render art as a literal currency.