NFTs, or non-fungible tokens, are the latest internet craze, with celebrities like Reese Witherspoon and Jimmy Fallon purchasing and selling them. Public opinion of NFTs remains pretty negative, which we can see from the reactions to the news that country icon Dolly Parton is getting in on the NFT action.
Fans Are Not Happy With Parton’s New NFT Venture
“You can relive my @sxsw concert with a new Dollyverse #NFT by @wearebcl!” Parton tweeted. “Visit http://welcometodollyverse.com to purchase my commemorative ‘Run, Rose, Run’ poster or album and get a free replay pass to rewatch my performance on-demand for the next 30-days!”
Fans of the music legend were not pleased to hear that Parton is now producing NFTs, and they let her know in the comment section. “Please reconsider, these are horrific for the environment and add nothing of value to artists’ lives!” one person tweeted.
Another wrote, “Dolly please no. NFTs directly harm artists and the environment both of which you care about.” Others kept it more simple, replying to Parton’s tweet with things like, “NOOOO WHY” and “NO DOLLY!”
Why Are NFTs Bad?
So, why do people hate NFTs so much? Many in Parton’s comment section mentioned the environmental impact NFTs have. It requires a huge amount of energy to create and store these cryptocurrencies, and most people see it as a waste. Why use all this energy on items that don’t even physically exist?
Others also warned Parton about the dangers NFTs pose to artists, especially smaller creators. Even though NFTs were marketed as a way for artists to collect royalties on these digital forms of their work, it’s not that simple. The royalties are tied to the platform through which the art is sold. If someone buys an NFT and then sells it on a different platform, the artist sees no royalties.
In addition to real concerns like this, many see NFTs as completely pointless. Just because someone owns an NFT, that does not mean that no one else can see it, or even own a version of it themselves. A lot of internet users have teased NFT owners by simply screenshotting NFTs and saving them to their phones, proving that the owners don’t really “own” anything at all.
Overall, NFTs seem like a strange thing for Parton to get into; as others have pointed out, Parton has previously dedicated herself to environmental causes and elevating small and struggling artists. By selling NFTs, many see this as a direct contradiction to the values she has been emphasizing over the years.