The NFT space encountered uncharted waters as "Steamboat Willie," the iconic animation that introduced Mickey Mouse to the world, entered the public domain and simultaneously the blockchain realm as an NFT by Alexander Taub, leading to a complete sell out and an impressive trading volume.
"Steamboat Willie" Sails into NFTs
At the stroke of midnight, a significant piece of animation history was tokenized, with 2,000 NFTs representing the first public appearance of Mickey Mouse made available for purchase.
Steamboat Willie just became Public Domain at midnight.
— Alexander Taub (🔺👁🔺) (@ajt) January 1, 2024
I set up a @manifoldxyz mint for the original image of him.
It's a collection with a supply of 2,000 and price of .001 ETH (~$2). If it doesn't mint out it closes in 24 hours.
The first mint was at exactly midnight, the… pic.twitter.com/KmIqgxR6hh
Alexander Taub's minting initiative sought to celebrate this momentous occasion created a frenzy with the collection selling out and reaching 100+ ETH volume. Yet, beneath the surface of these sales lies a complex discussion about the intrinsic value of NFTs derived from art that is owned by no one and everyone.
Critique from the Community
A vocal segment of the NFT community has raised concerns, questioning the legitimacy of assigning value to a public asset through private tokenization, they argue that minting a public domain image as an NFT is merely a symbolic gesture, one that doesn't equate to owning an original piece of art or history.
Counter argument, this isn’t owning a piece of history. A screenshot minted by a random person (as in not involved with creating the minted art) kind of undermines the act of minting and collecting art on chain. https://t.co/Zi8QU4n4vV
— Crucifore☠️🦎 (@crucifore) January 1, 2024
This perspective views such minting as a superficial act, potentially undermining the authenticity and collectability that blockchain art strives to establish, the sentiment suggests a cash grab, exploiting the public domain for private gain without adding new artistic value or interpretation.
The Counter-Narrative
Contrasting with the skepticism, there's a faction that views the "Steamboat Willie" NFT saga as emblematic of a broader resurgence in the NFT space, these proponents see the minting of these public domain works not just as a unique opportunity, but as a reaffirmation of the enduring appeal and potential of NFTs.
These minted 3 hours ago for $2
— borovik.eth (@3orovik) January 1, 2024
They’re now going for $430
That’s a 215x… NFTs are so BACK!! pic.twitter.com/8eE2NOF5sF
To some, this event is a classic play in the NFT playbook, where the value lies not in the replication of the image, but in the narrative and FOMO.
Navigating Uncharted Waters
The "Steamboat Willie" NFT saga is more than a fleeting trend; it's indicative of a broader conversation about the future of art and ownership, as the public domain becomes a playground for digital artists and collectors, the rules are being rewritten.
The ease with which others can mint the same public domain image as an NFT leaves many owners in a quandary, questioning the essence of what they truly possess, It underscores a potential misalignment in the concept of ownership within the space.
