Beeple, whose real name is Michael Winkelmann, is a digital artist with a significant level of success. He believes that at some point in the future, all physical works of art will be accompanied by an NFT.
Beeple stated in an interview with the Wall Street Journal on December 23, that non-fungible tokens (NFTs) will be of great help to the art business since they will provide superior methods for tracking provenance and storing data that can be verified as being authentic.
It’s a better system than simply handing you a piece of paper, he said, adding, “I think all paintings will eventually have NFTs attached just because again, it’s a better system than just handing you a piece of paper.”
“If you had a standardization around ‘this is a painting,’ you could have all the provenance in the metadata of that NFT. You could have [that data on] where that painting was shown. So it’s all there and it’s searchable in a database.”
As a result, he believes that non-fungible tokens will eventually contribute to the development of a standardized art database on which “everyone relies on.”
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