{"id":111711,"date":"2021-11-17T09:45:00","date_gmt":"2021-11-17T14:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=111711"},"modified":"2023-04-05T12:05:11","modified_gmt":"2023-04-05T16:05:11","slug":"riding-the-nft-wave","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/riding-the-nft-wave\/","title":{"rendered":"Riding The NFT Wave"},"content":{"rendered":"\n

Ask most people about Japanese art and their first answer would likely be Hokusai, a prolific early 19th<\/sup>\u00a0Century painter, most famous for the \u201cThe Great Wave\u201d. If you\u2019re lucky enough to live in London, then visit \u2013 as your author did recently \u2013 the British Museum (BM) for\u00a0an exhibition of some of Hokusai\u2019s rare drawings, on display there until the end of January. Observant visitors, however, will also note that it is possible to purchase a Hokusai. In a first for a major museum anywhere in the world, the BM has partnered with French start-up\u00a0LaCollection<\/a>\u00a0to offer non-fungible tokens (NFTs) for Hokusai\u2019s art. In the interest of future trends research (and a love of art), your author had the fortunate opportunity to catch up with Jean-S\u00e9bastien Beaucamps, the founder of LaCollection to learn more.<\/p>\n\n\n\n

LaCollection arose out of lockdown. Many people \u2013 including Jean-S\u00e9bastien (and not to mention your author) \u2013 were missing the opportunity to visit art galleries and museums. These organisations were also struggling financially. Et voila\u2026 LaCollection was formed. The notion behind the business is very simple: LaCollection offers people the opportunity to build digital collections of art and simultaneously is able to provide a novel funding source for museums.<\/p>\n\n\n\n

For those unaware, NFTs can be thought of as synonymous with digital assets<\/strong>. Just like each banknote is a unique fungible<\/em> token, so each NFT is also unique<\/strong>, differentiated by a watermark (or digital lithography, as the founder of LaCollection calls it). The beauty of owning a NFT of, say, a Hokusai print is that it can be viewed in your house (via a lightbox, transparent screen or similar) as easily as it could be held in a personal collection (similar to if one were collecting stamps) or traded (given each is unique, and a record of it stored on an immutable blockchain). Our sense is that the BM was perhaps earlier to the game than any other major cultural institutions. Based on the success of its venture with LaCollection, more museums and galleries are likely to follow suit soon.<\/p>\n\n\n\n

This is just the tip of the iceberg for the potential embedded in NFTs. \u201cPeople are afraid of what they don\u2019t understand,\u201d<\/strong> per Jean-S\u00e9bastien, but perceptions are changing quickly<\/strong>, enabled by high-profile initiatives such as the one pioneered by the BM. At a basic level, many humans have a pathological need to collect, in our view, but the ease of transacting with NFTs and the security which underpins them is helping to break down resistance barriers<\/strong>. Over time, we expect NFTs to be increasingly leveraged for many other transactions, not just digital art. The media and sports industries would seem obvious next candidates, but as Jean-S\u00e9bastien puts it, there is \u201cno doubt\u201d that the wave ahead will \u201ctouch all industries.\u201d<\/strong> Hokusai \u2013 a pioneer in his own era \u2013 would have been proud.<\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted on November 17, 2021 – Riding The NFT Wave<\/a><\/p>\n\n\n\n

\u200b\u200b\u200bThe above does not constitute investment advice and is the sole opinion of the author at the time of publication. The author of this piece has no personal direct investment in the business. Past performance is no guide to future performance and the value of investments and income from them can fall as well as rise.<\/strong><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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