Wikipedia editors vote against classifying NFTs as art, shelf problem with reference to “lack of reliable information”

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A group of Wikipedia editors voted against classifying non-fungible tokens (NFTs) as works of art. Due to a lack of reliable information, the topic was put on hold to be discussed again later. At the end of December last year, a debate broke out in the online encyclopedia on the subject of “Most expensive art sales by living artists”. Since Wikipedia is now a free, user-generated information website that allows anyone to edit it, it has a large number of editors.

“Wikipedia really can’t decide what counts as art or not, which is why it’s a lot easier to put NFTs, art or not, on their own list. NFTs have their own list that should be linked in the article, and entries should usually not be included in both, ”wrote editor“ jonas ”on the survey page.

NFTs include digital representations of works of art, songs, sports moments, and video games that are stored on the blockchain network.

In October 2021, rapper Snoop Dogg bought a digital work of art from Fidenza with the number 938 called “God Mode,” which is considered the first most expensive NFT in the history of the industry and is priced at $ 8.5 million.

1 / Sometimes God is in the algorithm. Certain editions are so sublime and unexpected. That there is no such similarity in a thousand different timelines. Why Fidenza 938 is called “God Mode”

And why @CozomoMedici just bought a large chunk of it with a valuation of $ 8.5 million (2500ETH): point_down: pic.twitter.com/WGlnwywVaI

– bonafidehan.eth (@bonafidehan) October 7, 2021

On Wikipedia, the discussion among editors revolved around a confusion – whether an NFT represented the art or whether it was just a token that was separate from the underlying art.

: rotating_light: Art emergency !! : rotating_light:

A debate is taking place on @Wikipedia that has the potential to officially categorize * NFTs as “no art” throughout Wikipedia. *

Wikipedia is a global source of truth. Having NFTs categorized as ‘no art’ would be a disaster!

:Thread::

– Duncan Cock Foster (@DCCockFoster) January 12, 2022

Of the six editors who quit, five voted against classifying NFTs as works of art.

For the time being, a consensus was reached on Jan. 12 to remove content such as the sale of Beeples $ 69 million (approximately Rs 510 billion) NFT from the top art sales list and resume the discussion at a later date.

Since anyone can write on Wikipedia, members of the NFT community might get involved and decide to close this classification debate.

To prevent this from happening, the NFT community needs to band together and let the Wikipedia editors know that NFTs are indeed art!

Digital artists have struggled for legitimacy all their lives. We can’t let the Wikipedia editors reset them!

– Duncan Cock Foster (@DCCockFoster) January 12, 2022

In the third quarter of 2021, NFT sales rose to $ 10.7 billion (approximately Rs 79,820 billion), more than eight times the quarter-on-quarter figure, according to data from market tracker DappRadar.

Rising sales and high prices for NFTs have amazed many, but the multiple growth shows little or no depreciation.

However, discussions about their classification are also taking place at larger levels.

South Korean Finance Minister Homg Nam-ki recently said that NFTs should not be classified as virtual assets.

In the meantime, several artists have joined the NFT car to present their art to an international audience and also to earn money with their work.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

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