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This week, a digital artist known as “Pak” auctioned off NFTs at Sotheby’s, accumulating almost $17 million in sales. (Although that doesn’t come close to the $69 million mark set by the artist Beeple in his Christie’s auction a few months ago.) For some, it was proof that the NFT phenomenon is real and world-changing. For others, it was more proof that the NFT market is a frothy blend of FOMO, greed, and crypto mania.
But either way, Pak represents something different. Pak is anonymous. Pak has never indicated whether they’re female, male, or even human. Some people suspected Pak is AI, others that Pak is persona created by a team of designers. In order to find out the truth — and as a way to understand not only NFTs, but blockchain, the art market, and the nature of financial speculation — investigative journalist Alex Palmer set out to try to find the real creator of Pak. Listen, and find out what happens when Pak is confronted with the truth.
This episode of the Wealthsimple Magazine Podcast was hosted by Devin Friedman, reported by Alex Palmer, and produced by Greg Tharp and Alex Lewis; sound editing and design is by John Myers, and the theme music is by Spatial Relations. A special thank you goes to our guests Colborn Bell and Kenny Schachter.
This podcast is produced by Wealthsimple Technologies Inc. and is for informational purposes only. It is not intended to be investment advice or any other kind of professional advice. When you invest, your money is at risk and it is possible that you may lose some or all of your investment.
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