June 27, 2022

Will NFTs Kill Traditional Art? Famous Collector Cozomo de’ Medici Makes The Case

5 min read

Digital publication and gallery Artnet provided Cozomo de’ Medici the keys to the castle. The infamous NFT collector took over their very popular Twitter account to raise hell. Cozomo de’ Medici’s thesis is that “the web eliminated the yellow pages. Netflix eliminated Blockbuster,” and NFTs will change traditional art. A bold prediction, we know, but let’s give the pseudonymous collector the benefit of the doubt and explore his thread.

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The story begins with Artnet NFT 30. A list of the 30 most prominent people in the NFT world. Obviously, Cozomo de’ Medici was one of them. As a promotion stunt, Artnet offered Cozomo control of their Twitter. “And beginning now, I will be taking over the ARTNET Twitter! I cautioned them I might be controversial;-RRB-,” de’ Medici said. And then, “Okay frens, so I dropped a little bit of a bomb over on the Artnet twitter account. They had NO idea I was going to do this!”

Ok frens, so I dropped a little bit of a bomb over on the @artnet twitter account.

They had NO concept I was going to do this! 😂

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;”/ > Read this below and please share the ArtNet post! (not this post). Let ' s let the world know that WE are the digital revolution< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/1f377.png" alt="" class=" wp-smiley" design=" height: 1em; max-height: 1em; "/ >< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/2694.png" alt=" ⚔" class=" wp-smiley" design=" height: 1em; max-height: 1em;"/ > https://t.co/yP9wjmiTmB

—– Cozomo de’ Medici (@CozomoMedici) December 15, 2021

Besides NFT suggestions and commentary, Cozomo de’ Medici made a name for himself on Twitter by making outrageous statements. Among them is, “Crypto billionaires will flip standard billionaires. NFTs will turn conventional art.” Let’s check out that concept.

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NFTs Will Kill Traditional Art, According To Cozomo de’ Medici

The infamous NFT collector begins by comparing the NFT revolution to the advent of Reality television. “For nearly 100 years, the studios decided which actors would be fortunate or skilled enough to end up being stars. But then in the 2000’s, whatever altered. The cameras turned from concentrating on stars, to every day people. With Reality TV, soon it wasn’t a trained actor who was getting well-known, but your schoolmate, co-worker, or next door neighbor. “

4/ Now, someone like @MrBeast might build a more large, far more engaged following than the most significant television or film star@guyraz could have more everyday listens than the most significant radio stations

And those who utilized both social & & reality tv, like Rogan & & the Kardashians, built empires

—– Artnet (@artnet) December 15, 2021

Ok, up until now so excellent.

Then, Cozomo turns to art. For centuries, “kings, queens, and noble folk decided which art was relevant.” Then, the tide moved, “in the Victorian age of the 1800s, galleries, museums, and collectors began to move markets.” The issue here was that the general public had no access to these artists. By the time they found out “about Warhol or Basqiat, their work has ended up being pricey, the best pieces gobbled up by understood collectors and market makers.”

9/ And this is not simply in the significant markets – – London, Paris, NYC – however worldwide.

I was recently chatting with a male who matured in Morocco. As he explained it, in Morocco there are 5 dealers who comprise the “” art mafia””

. If an artist gets on the bad side of one, they are done.

—– Artnet (@artnet) December 15, 2021

Enter NFTs. “No museums. No galleries, besides the marketplaces, and the galleries made by collectors themselves.” A heap of now well-known artists came out of this modification of paradigm. But that’s not all, “any artist, from any where on the planet, without any invitation, can mint a drop.” Also, the power moved to the consumer. “YOU can decide which artists will specify this generation.”

17/ Not by getting a museum show – – but by producing fantastic art, and cultivating a neighborhood using digital tools, like twitter and discord.

Now, you may be questioning… … exists genuine size, and real provenance to be attained this way?

—– Artnet (@artnet) December 15, 2021

You’re In Control Of The New Art Elite

Then, Cozomo de’ Medici shouts out 2 artists. Who, obviously, belong to Artnet NFT 30 as well.

19/ Or the formerly discussed @XCOPYART, a CryptoArt “” OG”” who has been minting art on chain possibly as early as 2016…

… And has had specific works cost $3m, $4m, $6m, and $7m… … all in the last 3 months. pic.twitter.com/zCdoXFXbTr

—– Artnet (@artnet) December 15, 2021

Photographer Justin Aversano and Digital artist Xcopy. Who, of course, are a huge part of Cozomo de’ Medici’s collection.

To complete, de’ Medici goes all in. “We are the market makers now. We produce our own museums. We choose which art defines this generation. We are the digital renaissance.”

We r the digital renaissance! @CozomoMedici https://t.co/zUz1EdkOEO

—– Snoop Dogg (@SnoopDogg) December 16, 2021

The reactions have actually been blended. Some people don’t purchase it, some individuals think Cozomo de’ Medici is a genius. In what camp are you? Are you convinced or nah? Is Cozomo overemphasizing for result? Or does he or she truly believe that? Is Cozomo ahead of his or her time or scientifically outrageous? And, more significantly …

Who’s Cozomo de’ Medici?

No, he’s not Snoop Dogg. That was a promotion stunt that worked too well and even journalists still think.

Love this. I was talked to previously today and asked if crypto is going mainstream. My response was yes, and one of my supporting points was that Snoop Dogg had an anon NFT Twitter account. And now he drops among the most informative tweet threads on the future of NFTs. Must-read: https://t.co/ywNVaxpBN7

—– Laura Shin (@laurashin) December 16, 2021

To address the title’s question, let’s quote the publication that began this entire mess. In Artnet NFT 30, they introduce him as follows:

” Ever considering that the mysterious collector behind this Twitter handle emerged on the scene in August, they’ve captivated the cryptorati with a mix of gnomic utterances and sage NFT financial investment guidance, all packaged under a playful identity declaring a parallel in between the famous patronage of Renaissance Florence’s Medici family (albeit with a tweaked spelling relatively borrowed from Seinfeld’s Kramer) and Cozomo’s own pursuits in the digital art world today.”

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And about his collection, a substantial part of this story, Artnet says:

” With astonishing speed, Cozomo obtained a collection of Art Blocks and CryptoPunks together with NFTs by Justin Aversano, Tom Sachs, and a host of other artists. He now owns hundreds of art work, consisting of desirable examples that the crypto community calls “holy grails,” that are together valued in the tens of countless dollars– including what he calls a “grail of grails,” XCOPY’s Right-click and Save As guy,”

The evaluation is that his entire collection is worth $17M roughly. Take that for what it’s worth.

Included Image from Cozomo de’ Medici’s Twitter page|Charts by TradingView