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Token Supremacy: The Art of Finance, the Finance of Art, and the Great Crypto Crash of 2022

Name: Token Supremacy: The Art of Finance, the Finance of Art, and the Great Crypto Crash of 2022
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Book Synopsis: A New York Times investigative reporter wades into the murky, pixelated waters of the multibillion-dollar NFT market—the virtual casino that sprang up overnight in 2020 and came crashing down, with all its celebrity hucksters, just two years later. A vibrant and witty exploration of the increasingly blurry line between art and money, artist and con artist, value and worthlessness.“A perfect book to understand and to laugh at the craziness of the art world today.” —Jerry Saltz, author of How to Be an Artist

In 2021, when the gavel fell at Christie’s on the sale of Mike Winkelmann’s Everydays series—a compilation of five thousand digital artworks—it made a thunderous announcement: Non-fungible tokens had arrived. The ludicrous world of CryptoKitties and Bored Apes had just produced a piece of art worth $69.3 million (at least according to the highest bidder). On that day, the traditional art market—the largest unregulated market in the world—put its stamp of approval on a very new and carnivalesque digital reality. But what did it mean for these two worlds to collide? Was it all just a money laundering scheme? And come on, what was that piece of digital flotsam really worth anyway?

In Token Supremacy, Zachary Small works through these and other fascinating questions, tracing the crypto economy back to its origins in the 2008 financial crisis and the lineage of NFTs back to the first photographic negatives. Small describes jaw-dropping tales of heists, publicity stunts, and rug pulls, before zeroing in on the role of “security tokens” in the FTX scandal. Detours through art history provide insight into the mythmaking tactics that drive stratospheric auction sales and help the wealthy launder their finances (and reputations) through art. And we cast an eye toward a future where NFTs have paved the way for a dangerous, new shadow banking system.

A wild and spellbinding tour through a world that strains belief.

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Unlock the secrets of the multibillion-dollar NFT market with Token Supremacy: The Art of Finance, the Finance of Art, and the Great Crypto Crash of 2022. As an investigative reporter for the New York Times, Zachary Small dives headfirst into the captivating and bewildering world of non-fungible tokens. This vibrant and witty exploration unveils the blurry line between art and money, delving into the wild realm of celebrity hucksters and questioning the value and worthlessness of digital art. Get ready for a rollercoaster ride that will leave you both informed and entertained.

Discover the shocking tale of how a compilation of digital artworks, known as the Everydays series, sold for a staggering $69.3 million at a Christie's auction. Token Supremacy unveils the true impact of this event and the collision of traditional art and the carnivalesque digital reality. Zachary Small's in-depth research traces the crypto economy's origins back to the 2008 financial crisis and explores the lineage of NFTs, even dating back to the first photographic negatives. Prepare to be astounded by jaw-dropping tales of heists, publicity stunts, and rug pulls.

Travel through the captivating world of art history as Token Supremacy shines a spotlight on the mythmaking tactics used to drive stratospheric auction sales. Gain insight into how the wealthy leverage art to launder their finances and reputation. But beware, as we peer into the future, NFTs have paved the way for a dangerous new shadow banking system. Token Supremacy offers a wild, spellbinding tour that will push the boundaries of your belief.

Don't miss out on this extraordinary journey into the art world's craziest phenomena. Get your copy of Token Supremacy and gain a deeper understanding of the NFT market's intricacies. Laugh alongside Jerry Saltz, author of How to Be an Artist, as he calls this book "a perfect book to understand and to laugh at the craziness of the art world today." Order your copy now and embark on a mind-bending adventure that will change your perception of art, money, and the digital revolution. Order now.

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