{"id":479110,"date":"2021-12-16T19:44:20","date_gmt":"2021-12-16T19:44:20","guid":{"rendered":"https:\/\/wncen.com\/?p=479110"},"modified":"2021-12-16T19:44:20","modified_gmt":"2021-12-16T19:44:20","slug":"will-nfts-kill-traditional-art-famed-collector-cozomo-de-medici-makes-the-case","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/will-nfts-kill-traditional-art-famed-collector-cozomo-de-medici-makes-the-case\/","title":{"rendered":"Will NFTs Kill Traditional Art? Famed Collector Cozomo de\u2019 Medici Makes The Case"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Digital magazine and gallery Artnet gave Cozomo de\u2019 Medici the keys to the castle. The notorious NFT collector took over their very popular Twitter account to raise hell. Cozomo de\u2019 Medici\u2019s thesis is that \u201cthe internet killed the yellow pages. Netflix killed Blockbuster,\u201d and NFTs will replace traditional art. A bold prediction, we know, but let\u2019s give the pseudonymous collector the benefit of the doubt and explore his thread.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/nft\/dao-to-make-dune-manuscript-public-core-member-won-3m-bid\/\">DAO To Make Jodorowsky\u2019s Dune Manuscript Public: Member Won $3M Bid<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">The story starts with <\/span><a href=\"https:\/\/www.nft.artnet.com\/artnet-nft-30\" rel=\"nofollow\"><span style=\"font-weight: 400\">Artnet NFT 30<\/span><\/a><span style=\"font-weight: 400\">. A list of the 30 most influential people in the NFT world. Of course, Cozomo de\u2019 Medici was one of them. As a publicity stunt, Artnet gave Cozomo control of their Twitter. \u201cAnd starting now, I will be taking over the ARTNET Twitter! I warned them I may be controversial ;),\u201d <\/span><a href=\"https:\/\/twitter.com\/CozomoMedici\/status\/19473667\" rel=\"nofollow\"><span style=\"font-weight: 400\">de\u2019 Medici said<\/span><\/a><span style=\"font-weight: 400\">. And then, \u201cOk frens, so I dropped a bit of a bomb over on the Artnet twitter account. They had NO idea I was going to do this!\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ok frens, so I dropped a bit of a bomb over on the <a href=\"https:\/\/twitter.com\/artnet?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@artnet<\/a> twitter account.<\/p>\n<p>They had NO idea I was going to do this! \ud83d\ude02<\/p>\n<p>Read this below and please share the ArtNet post! (not this post).<\/p>\n<p>Let&#39;s let the world know that WE are the digital revolution \ud83c\udf77\u2694\ufe0f<a href=\"https:\/\/t.co\/yP9wjmiTmB\" rel=\"nofollow\">https:\/\/t.co\/yP9wjmiTmB<\/a><\/p>\n<p>&mdash; Cozomo de\u2019 Medici (@CozomoMedici) <a href=\"https:\/\/twitter.com\/CozomoMedici\/status\/22130433?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Besides NFT recommendations and commentary, Cozomo de\u2019 Medici made a name for himself on Twitter by making outrageous statements. One of them is, \u201cCrypto billionaires will flip traditional billionaires. NFTs will flip traditional art.\u201d Let\u2019s explore that idea.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-479112 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/ETHUSD_2021-12-16_16-21-52.png?resize=460%2C257\" alt=\"ETHUSD price chart for 12\/16\/2021 - TradingView\" width=\"460\" height=\"257\"><\/p>\n<pre style=\"text-align: center\">BTC price chart on Bitbay | Source: BTC\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">NFTs Will Kill Traditional Art, According To Cozomo de\u2019 Medici<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The notorious NFT collector begins by comparing the NFT revolution to the advent of Reality TV. \u201cFor almost 100 years, the studios decided which actors would be lucky or talented enough to become stars. But then in the 2000&#8217;s, everything changed. The cameras turned from focusing on actors, to every day people. With Reality TV, soon it wasn\u2019t a trained actor who was getting famous, but your classmate, co-worker, or next door neighbor. \u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">4\/ Now, someone like <a href=\"https:\/\/twitter.com\/MrBeast?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@MrBeast<\/a> could build a more sizable, much more engaged following than the biggest tv or film star<a href=\"https:\/\/twitter.com\/guyraz?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@guyraz<\/a> could have more daily listens than the biggest radio stations<\/p>\n<p>And those who used both social &amp; reality tv, like Rogan &amp; the Kardashians, built empires<\/p>\n<p>&mdash; Artnet (@artnet) <a href=\"https:\/\/twitter.com\/artnet\/status\/77892098?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Ok, so far so good.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Then, Cozomo turns to art. For centuries, \u201ckings, queens, and noble folk decided which art was relevant.\u201c Then, the tide shifted, \u201cin the Victorian era of the 1800s, galleries, museums, and collectors began to move markets.\u201d The problem here was that the public had zero access to these artists. By the time they learned \u201cabout Warhol or Basqiat, their work has become expensive, the best pieces gobbled up by known collectors and market makers.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">9\/ And this is not just in the major markets &#8211; London, Paris, NYC &#8211; but globally. <\/p>\n<p>I was recently chatting with a man who grew up in Morocco. As he described it, in Morocco there are 5 dealers who make up the &quot;art mafia&quot;.<\/p>\n<p>If an artist gets on the bad side of one, they are done.<\/p>\n<p>&mdash; Artnet (@artnet) <a href=\"https:\/\/twitter.com\/artnet\/status\/65714947?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Enter NFTs. \u201cNo museums. No galleries, other than the marketplaces, and the galleries made by collectors themselves.\u201d A heap of now well-known artists came out of this change of paradigm. But that\u2019s not all, \u201cany artist, from any where in the world, with no invitation, can mint a drop.\u201d Also, the power shifted to the consumer. \u201cYOU can decide which artists will define this generation.\u201c<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">17\/ Not by getting a museum show &#8211; but by producing great art, and cultivating a community using digital tools, like twitter and discord. <\/p>\n<p>Now, you may be wondering&#8230; is there real size, and real provenance to be achieved this way?<\/p>\n<p>&mdash; Artnet (@artnet) <a href=\"https:\/\/twitter.com\/artnet\/status\/86389764?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400\">You\u2019re In Control Of The New Art Elite<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Then, Cozomo de\u2019 Medici shouts out two artists. Who, of course, are part of Artnet NFT 30 as well.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">19\/ Or the previously mentioned <a href=\"https:\/\/twitter.com\/XCOPYART?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@XCOPYART<\/a>, a CryptoArt &quot;OG&quot; who has been minting art on chain perhaps as early as 2016&#8230; <\/p>\n<p>And has had individual works sell for $3m, $4m, $6m, and $7m&#8230; all in the last 3 months. <a href=\"https:\/\/t.co\/zCdoXFXbTr\" rel=\"nofollow\">pic.twitter.com\/zCdoXFXbTr<\/a><\/p>\n<p>&mdash; Artnet (@artnet) <a href=\"https:\/\/twitter.com\/artnet\/status\/94205444?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Photographer Justin Aversano and Digital artist Xcopy. Who, of course, are a big part of Cozomo de\u2019 Medici\u2019s collection.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To finish, de\u2019 Medici goes all in. \u201cWe are the market makers now. We create our own museums. We decide which art defines this generation. We are the digital renaissance.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We r the digital renaissance ! <a href=\"https:\/\/twitter.com\/CozomoMedici?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@CozomoMedici<\/a> <a href=\"https:\/\/t.co\/zUz1EdkOEO\" rel=\"nofollow\">https:\/\/t.co\/zUz1EdkOEO<\/a><\/p>\n<p>&mdash; Snoop Dogg (@SnoopDogg) <a href=\"https:\/\/twitter.com\/SnoopDogg\/status\/62221569?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">The reactions have been mixed. Some people don\u2019t buy it, some people think Cozomo de\u2019 Medici is a genius. In what camp are you? Are you convinced or nah? Is Cozomo exaggerating for effect? Or does he or she really believe that? Is Cozomo ahead of his or her time or clinically insane? And, more importantly\u2026<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Who\u2019s Cozomo de\u2019 Medici?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">No, he\u2019s not Snoop Dogg. That was a publicity stunt that worked too well and even journalists still believe.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Love this. I was interviewed earlier today and asked if crypto is going mainstream. My answer was yes, and one of my supporting points was that Snoop Dogg had an anon NFT Twitter account. And now he drops one of the most insightful tweet threads on the future of NFTs. Must-read: <a href=\"https:\/\/t.co\/ywNVaxpBN7\" rel=\"nofollow\">https:\/\/t.co\/ywNVaxpBN7<\/a><\/p>\n<p>&mdash; Laura Shin (@laurashin) <a href=\"https:\/\/twitter.com\/laurashin\/status\/89357317?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">To answer the title\u2019s question, let\u2019s quote the publication that started this whole mess. In <\/span><a href=\"https:\/\/www.nft.artnet.com\/artnet-nft-30\" rel=\"nofollow\"><span style=\"font-weight: 400\">Artnet NFT 30<\/span><\/a><span style=\"font-weight: 400\">, they introduce him as follows:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">\u201cEver since the mysterious collector behind this Twitter handle emerged on the scene in August, they\u2019ve captivated the cryptorati with a combination of gnomic utterances and sage NFT investment advice, all packaged under a playful identity claiming a parallel between the famous patronage of Renaissance Florence\u2019s Medici family (albeit with a tweaked spelling seemingly borrowed from Seinfeld\u2019s Kramer) and Cozomo\u2019s own pursuits in the digital art world today.\u201d<\/span><\/p><\/blockquote>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/ethereum\/christies-auction-art-gary-vee\/\">Christie\u2019s Will Auction Original Art From Gary Vee \u2018s Veefriends NFT Collection<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">And about his collection, a huge part of this story, Artnet says:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">\u201cWith astonishing speed, Cozomo acquired a collection of Art Blocks and CryptoPunks alongside NFTs by Justin Aversano, Tom Sachs, and a host of other artists. He now owns hundreds of artworks, including coveted examples that the crypto community calls \u201choly grails,\u201d that are together valued in the tens of millions of dollars\u2014 including what he calls a \u201cgrail of grails,\u201d XCOPY\u2019s Right-click and Save As guy,\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">The estimation is that his whole collection is worth $17M approximately. Take that for what it\u2019s worth.<\/span><\/p>\n<pre style=\"text-align: center\">Featured Image from <a href=\"https:\/\/twitter.com\/CozomoMedici\/\" rel=\"nofollow\">Cozomo de\u2019 Medici's Twitter<\/a> page | Charts by <a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\">TradingView<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Digital magazine and gallery Artnet gave Cozomo de\u2019 Medici the keys to the castle. The notorious NFT collector took over their very popular Twitter account to raise hell. Cozomo de\u2019 Medici\u2019s thesis is that \u201cthe internet killed the yellow pages. Netflix killed Blockbuster,\u201d and NFTs will replace traditional art. A bold prediction, we know, but let\u2019s give the pseudonymous collector the benefit of the doubt and explore his thread. Related Reading | DAO To Make Jodorowsky\u2019s Dune Manuscript Public: Member Won $3M Bid The story starts with Artnet NFT 30. A list of the 30 most influential people in the NFT world. Of course, Cozomo de\u2019 Medici was one of them. As a publicity stunt, Artnet gave Cozomo control of their Twitter. \u201cAnd starting now, I will be taking over the ARTNET Twitter! I warned them I may be controversial ;),\u201d de\u2019 Medici said. And then, \u201cOk frens, so I dropped a bit of a bomb over on the Artnet twitter account. They had NO idea I was going to do this!\u201d Ok frens, so I dropped a bit of a bomb over on the @artnet twitter account. They had NO idea I was going to do this! \ud83d\ude02 Read this below and please share the ArtNet post! (not this post). Let&#39;s let the world know that WE are the digital revolution \ud83c\udf77\u2694\ufe0fhttps:\/\/t.co\/yP9wjmiTmB &mdash; Cozomo de\u2019 Medici (@CozomoMedici) December 15, 2021 Besides NFT recommendations and commentary, Cozomo de\u2019 Medici made a name for himself on Twitter by making outrageous statements. One of them is, \u201cCrypto billionaires will flip traditional billionaires. NFTs will flip traditional art.\u201d Let\u2019s explore that idea. BTC price chart on Bitbay | Source: BTC\/USD on TradingView.com NFTs Will Kill Traditional Art, According To Cozomo de\u2019 Medici The notorious NFT collector begins by comparing the NFT revolution to the advent of Reality TV. \u201cFor almost 100 years, the studios decided which actors would be lucky or talented enough to become stars. But then in the 2000&#8217;s, everything changed. The cameras turned from focusing on actors, to every day people. With Reality TV, soon it wasn\u2019t a trained actor who was getting famous, but your classmate, co-worker, or next door neighbor. \u201d 4\/ Now, someone like @MrBeast could build a more sizable, much more engaged following than the biggest tv or film star@guyraz could have more daily listens than the biggest radio stations And those who used both social &amp; reality tv, like Rogan &amp; the Kardashians, built empires &mdash; Artnet (@artnet) December 15, 2021 Ok, so far so good. Then, Cozomo turns to art. For centuries, \u201ckings, queens, and noble folk decided which art was relevant.\u201c Then, the tide shifted, \u201cin the Victorian era of the 1800s, galleries, museums, and collectors began to move markets.\u201d The problem here was that the public had zero access to these artists. By the time they learned \u201cabout Warhol or Basqiat, their work has become expensive, the best pieces gobbled up by known collectors and market makers.\u201d 9\/ And this is not just in the major markets &#8211; London, Paris, NYC &#8211; but globally. I was recently chatting with a man who grew up in Morocco. As he described it, in Morocco there are 5 dealers who make up the &quot;art mafia&quot;. If an artist gets on the bad side of one, they are done. &mdash; Artnet (@artnet) December 15, 2021 Enter NFTs. \u201cNo museums. No galleries, other than the marketplaces, and the galleries made by collectors themselves.\u201d A heap of now well-known artists came out of this change of paradigm. But that\u2019s not all, \u201cany artist, from any where in the world, with no invitation, can mint a drop.\u201d Also, the power shifted to the consumer. \u201cYOU can decide which artists will define this generation.\u201c 17\/ Not by getting a museum show &#8211; but by producing great art, and cultivating a community using digital tools, like twitter and discord. Now, you may be wondering&#8230; is there real size, and real provenance to be achieved this way? &mdash; Artnet (@artnet) December 15, 2021 You\u2019re In Control Of The New Art Elite Then, Cozomo de\u2019 Medici shouts out two artists. Who, of course, are part of Artnet NFT 30 as well. 19\/ Or the previously mentioned @XCOPYART, a CryptoArt &quot;OG&quot; who has been minting art on chain perhaps as early as 2016&#8230; And has had individual works sell for $3m, $4m, $6m, and $7m&#8230; all in the last 3 months. pic.twitter.com\/zCdoXFXbTr &mdash; Artnet (@artnet) December 15, 2021 Photographer Justin Aversano and Digital artist Xcopy. Who, of course, are a big part of Cozomo de\u2019 Medici\u2019s collection. To finish, de\u2019 Medici goes all in. \u201cWe are the market makers now. We create our own museums. We decide which art defines this generation. We are the digital renaissance.\u201d We r the digital renaissance ! @CozomoMedici https:\/\/t.co\/zUz1EdkOEO &mdash; Snoop Dogg (@SnoopDogg) December 16, 2021 The reactions have been mixed. Some people don\u2019t buy it, some people think Cozomo de\u2019 Medici is a genius. In what camp are you? Are you convinced or nah? Is Cozomo exaggerating for effect? Or does he or she really believe that? Is Cozomo ahead of his or her time or clinically insane? And, more importantly\u2026 Who\u2019s Cozomo de\u2019 Medici? No, he\u2019s not Snoop Dogg. That was a publicity stunt that worked too well and even journalists still believe. Love this. I was interviewed earlier today and asked if crypto is going mainstream. My answer was yes, and one of my supporting points was that Snoop Dogg had an anon NFT Twitter account. And now he drops one of the most insightful tweet threads on the future of NFTs. Must-read: https:\/\/t.co\/ywNVaxpBN7 &mdash; Laura Shin (@laurashin) December 16, 2021 To answer the title\u2019s question, let\u2019s quote the publication that started this whole mess. In Artnet NFT 30, they introduce him as follows: \u201cEver since the mysterious collector behind this Twitter handle emerged on the scene in August, they\u2019ve captivated the cryptorati with a combination of gnomic utterances and sage NFT investment advice, all packaged under a playful identity claiming a parallel between the famous patronage of Renaissance Florence\u2019s Medici family (albeit with a tweaked spelling seemingly borrowed from Seinfeld\u2019s Kramer) and Cozomo\u2019s own pursuits in the digital art world today.\u201d Related Reading | Christie\u2019s Will Auction Original Art From Gary Vee \u2018s Veefriends NFT Collection And about his collection, a huge part of this story, Artnet says: \u201cWith astonishing speed, Cozomo acquired a collection of Art Blocks and CryptoPunks alongside NFTs by Justin Aversano, Tom Sachs, and a host of other artists. He now owns hundreds of artworks, including coveted examples that the crypto community calls \u201choly grails,\u201d that are together valued in the tens of millions of dollars\u2014 including what he calls a \u201cgrail of grails,\u201d XCOPY\u2019s Right-click and Save As guy,\u201d The estimation is that his whole collection is worth $17M approximately. Take that for what it\u2019s worth. Featured Image from Cozomo de\u2019 Medici&#8217;s Twitter page | Charts by TradingView<\/p>\n","protected":false},"author":539,"featured_media":479113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625,83565],"tags":[84939,84932,84936,84935,84931,12765,84937,15369,84375,84934,84941,14052,84940,84933,84938],"class_list":["post-479110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","category-nft","tag-art-blocks","tag-artnet","tag-artnet-nft-30","tag-controversial-opinions","tag-cozomo-de-medici","tag-cryptopunks","tag-justin-aversano","tag-nft","tag-nft-collection","tag-nft-vs-traditional-art","tag-reality-tv","tag-snoop-dogg","tag-tom-sachs","tag-traditional-art","tag-xcopy"],"acf":[],"yoast_head":"\n<title>Will NFTs Kill Traditional Art? Famed Collector Cozomo de\u2019 Medici Makes The Case<\/title>\n<meta name=\"description\" content=\"Digital magazine and gallery Artnet gave Cozomo de\u2019 Medici the keys to the castle. The notorious NFT collector took over their very popular Twitter\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/will-nfts-kill-traditional-art-famed-collector-cozomo-de-medici-makes-the-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will NFTs Kill Traditional Art? Famed Collector Cozomo de\u2019 Medici Makes The Case\" \/>\n<meta property=\"og:description\" content=\"Digital magazine and gallery Artnet gave Cozomo de\u2019 Medici the keys to the castle. 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