The Licensing Letter’s Editor in Chief Gary Symons will join a panel at the RAVE ArtExpo New York, as the art world tries to unravel the mysteries of Non-Fungible Tokens, better known as NFTs.
Appropriately entitled ‘WTF are NFTs’, the panel will do its best to explain what NFTs are, why they have driven digital art sales worth millions of dollars for previously unknown works, and whether the technology is here to stay or an ill-considered fad.
The panelists include Craig Kausen, the grandson of artist and animator Chuck Jones, and President and Chairman of the Chuck Jones Center for Creativity and Chuck Jones Galleries, and Jon Stock, an entrepreneur and consultant with a focus on emerging technologies including augmented and virtual reality (XR), Internet of Things, and blockchain.
The RAVE event is one of the ArtExpo events organized by Redwood Art, and this year runs virtually from April 22 through April 24. The panel on NFTs is the last event in the program.
Symons was added to the panel after The Licensing Letter published its Special Report: The Downside of NFTs, which takes a detailed look at why NFTs are harmful for the environment, why they may not necessarily protect an artist’s work over the long term, and their shortcomings in the world of licensing.
“I guess my purpose on the panel is to be the giant, black cloud that rains on the NFT parade,” said Symons. “And to be clear, I am not a fan. While companies promoting NFTs and cryptocurrencies say they are working on more energy efficient systems, right now the entire industry is using a horrendous amount of energy at a time when we face an existential crisis, and really need to combat human-caused global warming.
“When the industry can actually say they’ve reduced power consumption, come and talk to me then,” added Symons. “For now, I think the NFT and cryptocurrency sectors are a serious threat to our environment, and don’t provide that much in return.”
While Symons might seem an odd choice for the panel, he previously worked with a blockchain company now known as TruTrace, and also ran a tech company where, among other things, he designed and produced software that verified the validity of images and videos. Symons is also a climate change activist, and author of the climate change thriller Burning Earth: Climate Wars.
By contrast, Kausen speaks with the authority of an expert on the value of art and the psychology of art collectors, and has a solid grasp of the science as well. He received a Bachelor of Science degree from UCLA and held various teaching positions at Orange County colleges in digital/computer sciences while pursuing his scientific career with Hughes Aircraft and MAI Basic Four. For the past 18 years he has been in the fine art business and has been involved in art publishing, opening and managing art galleries, artist management, and many other art business related endeavors. He has served as President of the Chuck Jones Companies for the past 11 years and Chairman of the Board at the Chuck Jones Center for Creativity until present.
Stock is definitely the tech nerd of the group, and comes to the panel with deep experience in science and the role of technology in our society. Stock is an entrepreneur and consultant with a focus on emerging technologies, including augmented and virtual reality (XR), Internet of Things, and blockchain. Co-founder of Corridar, an XR-commerce platform which fuses augmented and virtual reality with digital shopping environments, Jon is passionate about tech’s impact on the future of art, entertainment, and commerce. Jon holds a master’s degree from Harvard University where he studied innovation and strategic management and counts Breakthrough Innovation with Blockchain Technology among his favorite courses.
The panel will take place during the RAVE After Party at 8 p.m. ET on Saturday, April 24.