Review of “Token Supremacy”: A Critical Analysis by Book and Film Globe
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In Token Supremacy, Zachary Small chronicles the meteoric rise and dramatic fall of the NFT market and its associated artists, collectors, and hangers-on. Despite this segment of the art market grossing somewhere in the billions in the span from March 2021 to October 2022, many of you still might not be familiar with NFTs. That’s okay. Some of the people most closely associated with the form don’t entirely understand it either.
NFT stands for “nonfungible token.” An NFT is a piece of digital art or digital cultural detritus the ownership of which can be tracked as an asset. The digital image becomes an NFT when someone mints it on the blockchain—a digital system of recorded transactions maintained across computers linked in a peer-to-peer network. The blockchain is also the most common home of cryptocurrency, which aspires to be a decentralized financial system. That means there is no single form of authority, a role traditionally played by banks.
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