{"id":636,"date":"2021-11-15T11:48:08","date_gmt":"2021-11-15T10:48:08","guid":{"rendered":"https:\/\/sculptmania.wpengine.com\/?p=636"},"modified":"2021-11-15T11:48:12","modified_gmt":"2021-11-15T10:48:12","slug":"i-went-from-having-to-borrow-money-to-making-4m-in-a-day-how-nfts-are-shaking-up-the-art-world","status":"publish","type":"post","link":"https:\/\/sculptmania.com\/articles\/i-went-from-having-to-borrow-money-to-making-4m-in-a-day-how-nfts-are-shaking-up-the-art-world\/","title":{"rendered":"\u2018I went from having to borrow money to making $4m in a day\u2019: how NFTs are shaking up the art world"},"content":{"rendered":"\n
\"\"
Photo: Illustration by Craig Robinson\/Getty Images\/The Guardian<\/em><\/figcaption><\/figure>\n\n\n\n

As reported by theguardian.com<\/a>, Digital art is a billion-dollar business, with everyone from Paris Hilton to Damien Hirst trading in \u2018non-fungible tokens\u2019. But are NFTs just a get-rich-quick scheme masquerading as culture? \u201cIt\u2019s actually a lot simpler than you think.\u201d It\u2019s a Tuesday afternoon, and somewhat to my surprise, I\u2019m on the phone to\u00a0Paris Hilton<\/a>, who is graciously explaining the world of NFTs.<\/p>\n\n\n\n

Hilton is many things \u2013 a reality star, an heiress, an unlikely lockdown fitness guru who uses designer handbags instead of weights. But until now, she has never been considered a significant player in the art world. When artists have acknowledged her, often they\u2019ve done so to fetishise her image. In 2008, Damien Hirst bought a portrait of her by the artist Jonathan Yeo<\/a>, in which her body is constructed from collaged images cut from porn magazines.<\/p>\n\n\n\n

Yet in the past year she\u2019s become a surreal figurehead in the NFT scene: a world flush with crypto dollars and high on a promise to transform the worlds of art and commerce. When we speak, Hilton has just returned from a\u00a0bitcoin conference in Miami<\/a>, where customers paid up to $25,000 for VIP tables at the opening party to watch her DJ in a pair of diamant\u00e9-encrusted headphones. \u201cNFT stands for non-fungible token, a digital token that is redeemable for a digital piece of art,\u201d she explains. \u201cYou can have it on your computer server or your phone. I have these screens in my house where I display them.\u201d

Sure enough, at Hilton\u2019s Beverly Hills mansion there are screens displaying NFTs she made in collaboration with the digital artist\u00a0Blake Kathryn<\/a>. These include a video of a chihuahua on top of a rotating ionic column (a tribute to her deceased pet Tinkerbell) and an animated self-portrait of Hilton as a sparkling CGI Barbie floating in the clouds, a piece she\u2019s called Iconic Crypto Queen, and which she sold in April for more than $1m.
\u00abRead more on theguardian.com..\u00bb<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As reported by theguardian.com, Digital art is a billion-dollar business, with everyone from Paris Hilton to Damien Hirst trading in \u2018non-fungible tokens\u2019. But are NFTs just a get-rich-quick scheme masquerading as culture? \u201cIt\u2019s actually a lot simpler than you think.\u201d It\u2019s a Tuesday afternoon, and somewhat to my surprise, I\u2019m on the phone to\u00a0Paris Hilton, who is graciously explaining the world of NFTs. Hilton is many things \u2013 a reality star, an heiress, an unlikely lockdown fitness guru who uses designer handbags instead of weights. But until now, she has never been considered a significant player in the art world.\u2026<\/p>\n","protected":false},"author":1,"featured_media":637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"blocksy_meta":"","yoast_head":"\n\u2018I went from having to borrow money to making $4m in a day\u2019: how NFTs are shaking up the art world - Sculptmania<\/title>\n<meta name=\"description\" content=\"\u2018I went from having to borrow money to making $4m in a day\u2019: how NFTs are shaking up the art world: As reported by theguardian.com, Digital art is a billion-dollar business, with everyone from Paris Hilton to Damien Hirst trading in \u2018non-fungible tokens\u2019.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sculptmania.com\/articles\/i-went-from-having-to-borrow-money-to-making-4m-in-a-day-how-nfts-are-shaking-up-the-art-world\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018I went from having to borrow money to making $4m in a day\u2019: how NFTs are shaking up the art world - 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