November 17, 2021

a first-hand account of going down the rabbit hole • Sacramento News & Review

Minting NFTs of your artworks can be a costly scam, if you are not aware

By Ken Magri

“Never drive a hard bargain with an artist.”  -Ludwig van Beethoven

Scams are never a good thing, but they are even worse when they go after visual artists who seek nothing more than to bring some beauty into our world. This year, there has been a flurry of different crypto currency scams involving artists and Non-fungible tokens (NFTs).

Last February, a fake Banksy artwork sold as an NFT for one million dollars worth of Ethereum on the marketplace website Rarible. The scammers even claimed that 5% of sales would be donated to charities. In April, a Brooklyn artist saw several of his digital artworks illegally listed on Rarible and had them taken down before the plagiarist could pocket any sales.

A popular Japanese anime artist named Qinni died last year, but had her identity posthumously stolen by…

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