NFT's Turn Everything into a Potentially Unique Commodity
NFT is rediscovering conceptual art’s experiments in reducing every “thing” to a commodity, which was the boundaries abstract art was actually pushing, not how abstract a thing could be interpreted as “Art” but how abstract a thing could be commodified into a socially and financially accepted work-whether or not it was actually put up for sale
The commodification of all things onto ownership markets isn’t that interesting, what’s interesting is the speculative layer that gets overlayed and in turn informs the thing.
This is similar to what a prediction market is — all financial mechanisms can be reduced down to “making a prediction”, and a prediction market intends to encompass all predictions, thus encompassing all finance, thus encompassing all commodity.
Everything looks like a nail when you’re a holding a hammer; the prediction market is the hammer that makes everything speculative financial nail, NFT is the hammer that makes everything subject to luxury commodification.