In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.
When trying to examine the nonfungible token (NFT) economy as it has been shaping in recent months, two main trends can be discerned. On the one hand, a completely new market that allows various artists to join a new creator economy — the creators of Bored Ape Yacht Club, various types of pixel art creators and creative flickers such as the creator of long-necked women’s paintings, the sale of which brought the artist, only 12 years old, close to 1,394 Ether (ETH), equal at the time of writing $6 million.
But the truth is that an NFT is much more than that. Consider Jack Dorsey’s first significant NFT sale, where he sold the first tweet to be published on Twitter for $2.9 million . Although this NFT gained in value, it actually preserved a certain heritage through its assimilation as an NFT.
When Twitter shuts down, or when the old text platform is gone, it will disappear, just like other sites that have disappeared from the internet’s history. The only thing left will be the ones for which someone has added economic value beyond symbolic. This unique value is able to stand on its own and makes preservation of heritage and tradition sustainable.
Garry Kasparov does NFTs
Garry Kasparov, the former world chess champion, the man who has held that title for more years than anyone else, has decided to turn his legacy digital, and turn extensive chapters of his past into an NFT.
“My NFT venture with 1Kind reflects my lifelong desire to take on new challenges and work with exciting new technologies,” says Kasparov. “From artificial intelligence to blockchain and cryptocurrencies, I have always believed innovation was the only way forward. From the beginning, we have worked closely together to create unique items and a new way to use NFTs to tell stories with real history. “
One thing that is interesting about Kasparov’s interest in human-machine interfaces is his passion. Kasparov is the most well-known chess player, being the youngest winner of the world championship and the longest-reigning champion of chess in the world. But, in reality, his matches against supercomputers earned him worldwide fame. Kasparov has repeatedly won state-of-the-art chess computers, but his loss, in 1997, to IBM’s Deep Blue computer marked the watershed and symbolized the fact that artificial intelligence manages to match and even achieve human intelligence. Kasparov’s fate was tied to the development and acceptance of the digital age on a symbolic level by this loss.
Now, with the NFT project that Kasparov is launching together with the 1Kind platform, he is once again shaking up basic concepts — of heritage, legacy and history. Kasparov wants to make a digital presence for different chapters of his history, so that it does not depend on displays, history books, or display cabinets. He drops the objects, photos, and paintings that depict his past through NFTs. This is not to support a creator economy, but to preserve that legacy and bring in more people who are interested in it. As Kasparov explains:
“This is the first time an entire life will be turned into NFTs — my life. I wanted to share my chess successes and all that has shaped me and my legacy, not just my chess game. “
A new chapter of heritage perseverance
To this day, to document a heritage, one needs unique books, museums or tours. All of this is dependent on long-term support. After all, a museum can’t be independent and must have the support of taxpayers or other unique funds. Kasparov is decentralizing preservation of the heritage by making his legacy public at the NFT. Kasparov calls upon collectors to participate in his legacy and its preservation. These heritage objects may lose their value if Kasparov is gone. This will result in Kasparov’s interest being equal to that of the person who participated in the sale. It is important to preserve the heritage and make it available to as many people as you can.
“The deeply personal nature of this project is apparent in every NFT. Every NFT reveals the deeply personal nature of this project. My personal notebooks, family photos, and other artifacts are among the documents and artifacts that have never been seen before. My mother, who was my greatest champion, is part of the cast. “
“Garry, how do you want to be remembered?” Although I confess that I was a young world champion, I didn’t think about these things. I still remember my legacy at the board. This third drop of NFTs, a decade later, is my answer. https://t.co/dpqqNvnVJD pic.twitter.com/OGtaKMkOex
— Garry Kasparov (@Kasparov63) December 16, 2021
This is an interesting experiment in practice. This sale does not include digital art or representations of past moments such as the Moments of the NBA. It also includes digital representations of actual objects such as notebooks and cards, as well as physical photographs from Kasparov’s past. The buyer will be able to digitally own objects that another person may not have.
But in fact, it is possible that in the world we are heading towards, it is not clear who will have the more equal ownership — the one who holds a paper copy of a game card in the safe, or the one who holds the digital representation, which can be displayed to the world without fear of being damaged or gone. Kasparov himself also admits that this is no small challenge, but perhaps this is again his way of breaking down barriers and concepts, in the transition to the Web 3.0 era.
” I admit to feeling nervous when I sat down for my first world championship match against a supercomputer or when I decided to leave behind the world of chess and fight for democracy in Russia. What good are new challenges if we don’t take them on? What good is taking chances? I was not satisfied with the status quo and so I am delighted to share this unique and ambitious collection. Kasparov says, “I hope people will enjoy it and can’t wait to see the next step.”
This article is not intended to provide investment advice or recommendations. Each investment and trade involves risk. Readers should do their own research before making any decisions.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Ariel Shapira is a father, entrepreneur, speaker, cyclist and serves as founder and CEO of Social-Wisdom, a consulting agency working with Israeli startups and helping them to establish connections with international markets.