Nicole Buffett on NFTs, their future, and explaining them to her grandfather


NOTicole Buffett is a critically acclaimed artist and art director, and more recently has ventured into the world of non-fungible tokens (NFTs), selling her work on marketplaces like OpenSea. The Los Angeles-born painter, who has an identical twin sister and is also the granddaughter of billionaire businessman and philanthropist Warren Buffett, the fifth richest person in the world.

But the San Francisco-raised NFT artist didn’t always agree with her grandfather, who has a more old-fashioned approach to technology. Over the weekend at Berkshire Hathaway’s annual shareholder meeting, the elder Buffett rejected cryptocurrency, saying he wouldn’t buy all the bitcoin (BTC) in the world for $25.

Read more: Warren Buffett and Charlie Munger still hate crypto

That hasn’t deterred the cross-medium artist, who has yet to have a crypto conversation with his grandfather. If and when she does, she plans to highlight the growing influence of NFTs on how we value products and services.

“NFTs expand our view of monetary currency,” she said on CoinDesk TV’s “First Mover.”

She dove into NFTs at the start of the pandemic. For Buffett, it became a way to connect with his audience and a way to share his work. “Translating my work into the digital sphere has allowed me to open up new dimensions on different levels,” she said.

Yet Buffett continues to produce physical works of art before turning them into NFTs. She sees it as a way to honor the entire artistic process. It’s “a way to trace it [art creation] back to its origin, outside the digital realm,” she said.

Some, including his grandfather, may argue that NFTs inherently produce nothing. Rather, their value depends on how much people are willing to pay for them.

People who have already joined the cryptocurrency and NFT space will play a major role in attracting doubters, like Buffett’s grandfather. “The scope of the goal is expanding,” she said. The cryptocurrency space is vibrant, where “financial experts, technologists, and artists come together to create a bigger entity.”

Buffett recently reconnected with his grandfather, who contacted him via email for the first time in years to express his support for his NFT success. She is planning an NFT-based art exhibit this fall in Omaha, Nebraska, her grandfather’s hometown.

When it comes to NFTs, “what excites my grandfather the most is that it really gives artists a chance to share their work, make a living from their work and express themselves,” he said. she stated. “If there’s anything that’s going to open it up to the world of NFTs and crypto, it’s this.”

CORRECTION (May 6, 2022, 03:00 UTC): Correct the spelling of Buffett in the first paragraph, and that Nicole Buffett has an identical twin sister, and is not a triplet.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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