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This programme contains very
strong language from the start.
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PHONE LINE RINGS
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ANSWER PHONE BEEPS
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Hey, buddy.
Um, well, what can I say?
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HE CHUCKLES
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Fucking insane! I'm in shock.
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DARTH VADER RESPIRATOR RASPS
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Everyone within the industry
is fucking shocked as well.
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They're just like,
"This has never gone down so quick."
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# I was five and he was six
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# We rode on horses
made of sticks... #
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ANSWER PHONE BEEPS
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You are a fucking millionaire!
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How do you feel?
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# He would always win the fight
Bang, bang... #
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DARTH VADER RESPIRATOR RASPS
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# Bang, bang,
my baby shot me down. #
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It's 8.30 in the morning.
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In West London,
an art curator is waking up
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to discover he has become
a millionaire overnight...
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..selling art
that doesn't physically exist.
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It's part of a revolution in art
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that promises vast wealth
for those in the know.
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This project looked huge.
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I could have got a Damien Hirst,
one of one.
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It was going to make me rich,
you know?
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I decided to pull the trigger
and went all in.
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Let's do this.
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The whole collection
sold out in five seconds.
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One of the fastest-selling
NFT drops ever.
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If it's this popular,
where could this go?
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Just made two mil on NFT.
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GUNSHOTS
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But is this fast money
nothing more than fool's gold?
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It's snake oil.
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There was no valuable thing
to be able to sell.
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People were busy pumping air
into the balloon,
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and eventually the balloon
was going to pop.
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Our story unfolds in a world where
digital art meets cryptocurrency...
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What is going on,
all my crypto friends?
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..and not everything
is as it seems...
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There was so much deception
and fraud,
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and it was across so many planes.
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..with characters who use monikers
and masks as a means of expression,
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but also to hide.
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CHEERING
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This is a tale of ambition...
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He insisted he was an artist,
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but what he made
seemed fairly unhinged.
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He seems to be scared
of absolutely nothing.
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If you want anything done in life,
you're going to piss people off.
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..greed...
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There was a gold rush, and people's
motivations aren't always pure.
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He saw the pot of gold
at the end of the NFT rainbow,
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and he took it with both hands.
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We knew that people were
going to get hurt, unfortunately.
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..betrayal...
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Artists' work was stolen.
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It's a rip-off
at a very fundamental level.
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..and fortunes made and lost
on a new digital frontier.
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I lost a lot of money.
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I think he's fallen into
some kind of digital abyss
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that he didn't really reckon with.
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There's millions of pounds
unaccounted for.
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Someone must know where it is.
Someone must have it.
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If you're being completely honest,
was this a scam?
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Our story begins, not here
in the art studios of London...
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..but on the battlefields
of Afghanistan...
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..with a man called Bran.
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I joined
the Special Forces Reserves.
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I was called up to go
to Afghanistan.
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And we came under fire
from the Taliban...
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GUNSHOT
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And I dove for cover in a ditch
with this kid next to me...
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..and his AK-47
was covered in pink stickers.
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And I just had that defining moment.
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The voice in my head just said,
"If I get back in one piece,
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"this is something
that I'd like to look into doing...
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"..taking something
of fear and loathing
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"and turning it
into beauty and intrigue."
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That was my first entry
into the art world,
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and then it snowballed from there.
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These customised AK-47s
become Bran's hallmark.
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But he thinks he could get
more exposure for his concept
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by engaging higher-profile artists.
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In 2012, he invites the likes
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of Antony Gormley
and the Chapman brothers
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to add their own take on the guns
for a charity exhibition.
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We auctioned off
all the AK-47 art pieces.
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That night,
we raised £450,000 for charity.
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And that was actually
when I first met Ben.
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Unbeknownst to either man...
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..this meeting will start
a chain of events
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that, over the next ten years,
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will lead to
some people making millions
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and others losing everything.
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Ben. Where do you start?
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I, personally, think
he's a bit of a maverick.
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And action.
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Ben Moore is a curator
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who has been part of the London
art scene since the mid-noughties.
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At this point, he's best known
for putting artist's work
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on the London Underground
through his company, Art Below.
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In 2008, Ben encounters
the British designer
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of an iconic piece
of movie history...
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Did you create the actual...?
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Yeah. Um, you designed them as well?
Yeah.
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..the helmet of the Imperial
stormtrooper from Star Wars.
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Having acquired
two stormtrooper outfits...
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..Ben begins a new artistic journey.
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I think Ben's talent
is taking things that people know
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and are very aware of,
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but approaching it
from a different perspective.
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Ben stuck out
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because he was always doing
something out of the ordinary.
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Stand further against the wall, Ben.
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He does divide opinion.
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CORK POPS
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CHEERING
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It can either be fifth grade idea,
or it's art.
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Nice!
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Ah! Hot pink. Yeah.
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Ben created this idea
of a Pink Stormtrooper,
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taking the Star Wars suit
and painting it pink.
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And we went around London
taking photos.
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CAMERA CLICKS
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Hey!
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INAUDIBLE
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And that was his first experience
with, you know,
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the idea of using these suits
in the form of art.
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As well as a piece
of performance art...
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..the Pink Stormtrooper
becomes Ben's alter ego.
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CHEERING
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Self-promotion is a trait of Ben's.
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So if there's one thing worse
than being talked about,
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it's not being talked about.
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CHEERING INTENSIFIES
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So, good or bad,
I think it, you know,
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it led him into
the things he ended up doing.
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All right, I'm doing this.
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My mate, Bran,
likes to fuck around with AK-47s.
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I happen to be
the proud owner of one.
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Also happen to be
the Pink Stormtrooper.
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This little motherfucker right here.
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Beyond the street stunts,
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there seems little mileage
in the Pink Stormtrooper.
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But Bran's AK-47 exhibition
has given Ben an idea.
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In 2013, he decides to set up
his own charity show.
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00:10:05,080 --> 00:10:10,760
But in place of guns, he'll exhibit
customised stormtrooper helmets.
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00:10:10,760 --> 00:10:14,480
He manages to secure
the world-renowned Saatchi Gallery
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and will call the show Art Wars.
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Star Wars is something
that is very mainstream,
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you know, appeals to all ages.
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Um, and the...the helmet,
the object of the helmet, is
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one of the most iconic - IS the most
iconic - object in film history.
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Ben emailed me to say
he was organising an exhibition
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00:10:38,920 --> 00:10:40,920
of stormtrooper helmets for charity.
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I remember thinking
he was a bit of a live wire,
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but it's the art world.
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It attracts live wires.
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He said he'd give us
the physical helmet
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to do whatever we fancied with it.
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CAMERA CLICKS
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And then he listed off some of
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the artists he had involved already.
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They were all household names.
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00:11:08,320 --> 00:11:12,840
I think if you're an artist and you
command a certain amount of money
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00:11:12,840 --> 00:11:14,560
for your work, that primes you
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00:11:14,560 --> 00:11:17,120
for a certain sense of
kind of internal guilt
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about being an artist and making
ridiculous amounts of money
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00:11:20,000 --> 00:11:22,960
for things which don't seem
to kind of correlate.
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00:11:22,960 --> 00:11:26,400
So we agreed to do it just
on the basis of it being a charity,
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00:11:26,400 --> 00:11:29,040
rather than anything
that Ben Moore said
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00:11:29,040 --> 00:11:32,360
or any kind of curatorial
sort of conversation.
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CAMERA CLICKS
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He gave us a blank
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and said, you know,
"Do what you want with it."
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Ben is Ben.
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Basically, he's a chancer, you know?
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But then, in what he's trying to do,
you have to be a bit of a chancer
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because, you know, you
have to make things happen,
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and you have to sort of
gee people into it.
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CAMERA CLICKS
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00:12:00,200 --> 00:12:04,880
His show's charitable status helps
Ben land some big-name artists.
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00:12:06,240 --> 00:12:08,800
Even Damien Hirst is on board,
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00:12:08,800 --> 00:12:12,640
supplying a helmet decorated
with his trademark spot painting.
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Ben seemed to, from the get go,
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00:12:17,000 --> 00:12:20,200
seemed to have the right
connections - Damien Hirst,
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00:12:20,200 --> 00:12:23,520
Jake and Dino Chapman, etc, etc,
are involved.
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You're like, "Wow, this is
fantastic. What a great line-up.
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"I feel honoured
to be part of that line-up.""
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00:12:28,200 --> 00:12:29,240
CAMERA CLICKS
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00:12:30,680 --> 00:12:33,200
Ben seemed like someone that was...
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00:12:33,200 --> 00:12:36,000
..honest, and in it
for the right reasons.
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He did a couple more shows
in London.
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I think he did
an exhibition in America,
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00:12:45,080 --> 00:12:47,480
and he pulled in
some big artists again.
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00:12:49,280 --> 00:12:52,520
We are live in Miami.
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00:12:52,520 --> 00:12:56,480
The Pink Stormtrooper is going
to show us around Art Wars.
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00:12:57,800 --> 00:12:59,040
Ben Moore,
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00:12:59,040 --> 00:13:02,160
I mean, I've kind of
met his type before,
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00:13:02,160 --> 00:13:04,840
a kind of posh boy chancer.
203
00:13:06,640 --> 00:13:08,280
Would you like an ecstasy?
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00:13:08,280 --> 00:13:10,880
The Pink Stormtrooper
has everything.
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00:13:10,880 --> 00:13:15,040
But we all contribute
to...to good causes,
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00:13:15,040 --> 00:13:17,280
and if it's engaging,
you've got an idea for it,
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00:13:17,280 --> 00:13:18,480
then you'll do it.
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00:13:18,480 --> 00:13:20,160
CAMERA CLICKS
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00:13:20,160 --> 00:13:23,560
I made a piece
covered in ecstasy pills.
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00:13:23,560 --> 00:13:27,040
The piece sold for $5,000
to somebody in Bel-Air.
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00:13:28,680 --> 00:13:31,200
I was very happy for Ben.
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00:13:31,200 --> 00:13:33,080
It got a great response.
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00:13:36,560 --> 00:13:38,920
I remember Ben was
interested in the fact
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00:13:38,920 --> 00:13:41,880
that I could photograph
the finished art pieces as well...
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00:13:41,880 --> 00:13:43,040
CAMERA CLICKS
216
00:13:43,040 --> 00:13:46,160
..to then make some prints
from them,
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00:13:46,160 --> 00:13:49,320
and then possibly to sell the prints
at a further date.
218
00:13:49,320 --> 00:13:51,440
But I was always pushing him,
219
00:13:51,440 --> 00:13:54,280
saying, "Look, you know,
this could be something huge."
220
00:13:55,440 --> 00:14:00,320
Over the next few years,
Ben continues to run Art Wars shows.
221
00:14:01,840 --> 00:14:04,120
But, eventually,
the money they make...
222
00:14:06,360 --> 00:14:10,080
..and his interest in curating them
wanes.
223
00:14:25,880 --> 00:14:29,720
But just as the helmets
seemed destined to be forgotten...
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00:14:31,840 --> 00:14:34,480
..a new force awakens.
225
00:14:36,600 --> 00:14:39,680
A revolution in art
is under way,
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00:14:39,680 --> 00:14:44,400
one that exists entirely
in the digital realm.
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REPORTER: Encrypted digital art
is today's investment craze.
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00:14:48,240 --> 00:14:51,440
NFTs might be
tomorrow's burst bubble,
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00:14:51,440 --> 00:14:54,520
or the beginning of a new story
in the history of art.
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00:14:58,800 --> 00:15:03,880
An NFT, or non-fungible token,
is a kind of digital watermark...
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..an identifier that can be attached
to a work of art online
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to make it unique.
233
00:15:12,240 --> 00:15:16,520
Now it can be bought or sold
like a work in the physical world.
234
00:15:20,440 --> 00:15:24,240
It's an innovation that finds
its moment in the Covid pandemic.
235
00:15:25,480 --> 00:15:28,560
With the world locked down,
236
00:15:28,560 --> 00:15:32,120
everyone and everything
is forced online.
237
00:15:33,640 --> 00:15:36,800
The conditions are perfect
for an explosion...
238
00:15:38,040 --> 00:15:40,480
..in this new digital art form.
239
00:15:41,720 --> 00:15:46,600
A new craze that is redefining
what it means to be a collector.
240
00:15:46,600 --> 00:15:50,240
A digital artwork by a relatively
unknown American artist,
241
00:15:50,240 --> 00:15:54,760
known as Beeple, has sold at
Christie's for nearly $70 million -
242
00:15:54,760 --> 00:15:58,000
that's £50 million -
and become the first ever sale
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00:15:58,000 --> 00:16:01,920
by a major auction house of a work
that doesn't physically exist.
244
00:16:07,120 --> 00:16:09,560
Suddenly, you had this mass
of people spending lots of money
245
00:16:09,560 --> 00:16:11,160
on these digital works.
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00:16:12,920 --> 00:16:15,240
It was completely crazy.
247
00:16:15,240 --> 00:16:16,600
Suddenly the world had exploded
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00:16:16,600 --> 00:16:20,240
and there were thousands of people
doing it. Tens of thousands.
249
00:16:20,240 --> 00:16:24,880
Taking advantage of this NFT boom
are a new generation of investors,
250
00:16:24,880 --> 00:16:29,880
like the crypto-entrepreneur
who calls himself Sillytuna.
251
00:16:29,880 --> 00:16:33,160
People liken the NFT bubble
to the tulip bubble
252
00:16:33,160 --> 00:16:34,720
back in the 17th century,
253
00:16:34,720 --> 00:16:38,720
where one tulip could be worth up
to six times someone's salary.
254
00:16:38,720 --> 00:16:40,840
You can look in hindsight and go,
"This is crazy."
255
00:16:40,840 --> 00:16:43,040
At the time, people didn't know
when it would stop,
256
00:16:43,040 --> 00:16:45,080
so they kept trading tulips.
257
00:16:46,640 --> 00:16:50,280
This is what I call Bored Ape mania.
258
00:16:50,280 --> 00:16:52,760
If you got in early,
then you're sitting on
259
00:16:52,760 --> 00:16:55,360
a quarter of a million
to half a million-plus dollars.
260
00:16:56,840 --> 00:16:59,680
NFTs are traded in cryptocurrency,
261
00:16:59,680 --> 00:17:03,280
so their popularity is partly driven
by the huge rise in values
262
00:17:03,280 --> 00:17:07,240
of cryptocurrencies
like Bitcoin and Ethereum.
263
00:17:07,240 --> 00:17:09,880
You could see that
there's this booming market
264
00:17:09,880 --> 00:17:12,640
and valuations are becoming crazy.
265
00:17:12,640 --> 00:17:16,640
At the height of the bubble,
I sold an NFT for $12 million.
266
00:17:22,680 --> 00:17:25,280
2021 was a massive year for NFTs.
267
00:17:25,280 --> 00:17:29,640
$13 billion was traded in NFTs
in that year.
268
00:17:29,640 --> 00:17:33,320
Some estimates valued
the whole market at $40 billion.
269
00:17:33,320 --> 00:17:34,520
It was huge.
270
00:17:34,520 --> 00:17:37,520
Everybody was trying to work out
whether they could make one
271
00:17:37,520 --> 00:17:39,800
and make some money on it.
272
00:17:39,800 --> 00:17:43,960
Now artists are discovering
that digital creations
273
00:17:43,960 --> 00:17:46,160
can be worth millions.
274
00:17:47,160 --> 00:17:49,640
People like me who've been
in the market for a long time,
275
00:17:49,640 --> 00:17:52,680
we could see that
there was a gold rush going on.
276
00:17:54,640 --> 00:17:58,000
And that gold rush was not healthy,
in a lot of cases.
277
00:17:58,000 --> 00:18:00,360
People were going to get hurt,
unfortunately.
278
00:18:05,280 --> 00:18:10,400
In the autumn of 2021,
with the market at an all-time high,
279
00:18:10,400 --> 00:18:12,640
investors begin to hear about
280
00:18:12,640 --> 00:18:14,760
a special new collection.
281
00:18:14,760 --> 00:18:17,000
Its name is Art Wars.
282
00:18:18,160 --> 00:18:22,520
And it's an opportunity
that seems too good to miss.
283
00:18:22,520 --> 00:18:25,520
I just want to say
that I really appreciate
284
00:18:25,520 --> 00:18:27,920
the warmth and positivity
285
00:18:27,920 --> 00:18:31,000
that I've felt from the community
over the last few weeks.
286
00:18:31,000 --> 00:18:33,080
It's my first time in this space.
287
00:18:50,960 --> 00:18:54,720
You're forever struggling,
doing really good things,
288
00:18:54,720 --> 00:18:58,200
and the pay-off is that, apparently,
you have a good reputation...
289
00:19:00,120 --> 00:19:02,280
..but...no money.
290
00:19:03,640 --> 00:19:06,200
All right. I'm bored of that.
I want some money.
291
00:19:07,280 --> 00:19:09,760
It was sort of an opportunity
292
00:19:09,760 --> 00:19:14,200
that I felt was, like, cooked up
by the gods for me to...to...
293
00:19:15,280 --> 00:19:17,200
..to finally...
294
00:19:17,200 --> 00:19:20,360
..make serious money very quickly.
295
00:19:20,360 --> 00:19:24,400
The first voice who convinced me
of that was...was...was Bran.
296
00:19:26,600 --> 00:19:29,160
In the ten years
since they first met,
297
00:19:29,160 --> 00:19:31,840
Ben and Bran have remained in touch.
298
00:19:33,720 --> 00:19:37,120
We were always connected
through collaborations.
299
00:19:38,480 --> 00:19:40,760
At the time,
NFTs were just going crazy
300
00:19:40,760 --> 00:19:44,360
and everyone was bringing out
anything and everything.
301
00:19:45,360 --> 00:19:49,960
I instinctively thought of Ben
because of... Given Art Wars.
302
00:19:49,960 --> 00:19:55,480
Star Wars and NFTs -
a marriage made in heaven.
303
00:19:55,480 --> 00:19:58,040
I was like, "Ben, you kind
of need to get on this now
304
00:19:58,040 --> 00:20:00,960
"because you've only got
so many months
305
00:20:00,960 --> 00:20:03,360
"before it's going to
kind of fall off a bit."
306
00:20:04,640 --> 00:20:06,800
Bran knew all about it.
307
00:20:06,800 --> 00:20:09,800
He'd made 80 grand
in the previous month.
308
00:20:10,800 --> 00:20:11,960
And then I thought,
309
00:20:11,960 --> 00:20:16,840
"OK, well, let's just go along
with whatever his plan is."
310
00:20:16,840 --> 00:20:18,720
You know? Er...
311
00:20:20,480 --> 00:20:23,000
Cos, I mean,
80 grand sounded fine to me.
312
00:20:26,640 --> 00:20:29,120
I supplied Ben with the photography
313
00:20:29,120 --> 00:20:32,320
that I had
from the original Art Wars.
314
00:20:32,320 --> 00:20:34,360
CAMERA CLICKS
315
00:20:37,840 --> 00:20:39,920
He was like my sort of spirit guide
316
00:20:39,920 --> 00:20:42,480
into the next chapter
of what happened.
317
00:21:05,400 --> 00:21:08,880
I've heard about Art Wars
around October 2021.
318
00:21:09,920 --> 00:21:13,840
There was a blog about it
mentioning the fact that Star Wars
319
00:21:13,840 --> 00:21:16,360
was officially
going to start an NFT,
320
00:21:16,360 --> 00:21:17,560
which was massive.
321
00:21:19,560 --> 00:21:21,120
I searched Ben Moore.
322
00:21:21,120 --> 00:21:25,480
That's how I found out that he had
an art gallery with the helmets.
323
00:21:25,480 --> 00:21:28,360
And when I saw the pictures
of the exhibition,
324
00:21:28,360 --> 00:21:30,800
I was just like,
"Damn! This looks good!"
325
00:21:31,800 --> 00:21:35,160
Art Wars is a body of work
ten years in the making.
326
00:21:35,160 --> 00:21:39,160
I called upon all the best artists
that I knew in the world,
327
00:21:39,160 --> 00:21:44,000
and asked them to take the normal
white stormtrooper helmet...
328
00:21:45,080 --> 00:21:49,200
..and put their iconic mark onto it.
329
00:21:49,200 --> 00:21:51,760
And we're digitalising it.
330
00:21:51,760 --> 00:21:53,040
So these Art Wars,
331
00:21:53,040 --> 00:21:57,240
it is actually, er,
stormtrooper helmets from Star Wars.
332
00:21:58,840 --> 00:22:01,600
Art Wars appears to be
a unique offering.
333
00:22:02,920 --> 00:22:06,320
Unlike any NFT that's come before,
334
00:22:06,320 --> 00:22:09,600
it promises a connection
to a global movie franchise...
335
00:22:10,880 --> 00:22:14,760
..with work by some
of the world's leading artists.
336
00:22:14,760 --> 00:22:16,880
There is some big names,
as well, involved,
337
00:22:16,880 --> 00:22:18,840
including someone like Damien Hirst.
338
00:22:18,840 --> 00:22:20,840
Definitely think that is cool.
339
00:22:20,840 --> 00:22:24,280
It's a combination
designed to be irresistible.
340
00:22:24,280 --> 00:22:28,080
Anything he's involved, definitely
is going to be nice to pick up.
341
00:22:28,080 --> 00:22:32,440
The fact that it was Star Wars,
Damien Hirst, all these big names,
342
00:22:32,440 --> 00:22:35,600
NFTs were peaking also
at that time, 2021.
343
00:22:35,600 --> 00:22:38,040
So it was just perfect, you know?
344
00:22:38,040 --> 00:22:40,920
Art Wars - what's the deal
with this project?
345
00:22:40,920 --> 00:22:42,720
These are, like,
pretty sick-looking.
346
00:22:42,720 --> 00:22:45,720
The floor price is nearly two ETH.
They're pretty cool.
347
00:22:45,720 --> 00:22:47,040
It's where all the action's at.
348
00:22:47,040 --> 00:22:49,400
I can't believe I'm so late to it.
I'm pissed off.
349
00:22:50,400 --> 00:22:53,760
The sale is gaining
serious traction online...
350
00:22:55,320 --> 00:22:58,440
..enticing NFT collectors,
like Joey Strachan...
351
00:23:00,480 --> 00:23:02,880
When you hear names like
Damien Hirst, Anish Kapoor,
352
00:23:02,880 --> 00:23:05,640
really big names in the art world,
you automatically think,
353
00:23:05,640 --> 00:23:08,080
"That's going to be worth
a shitload of money."
354
00:23:08,080 --> 00:23:10,760
..and street artist Gasman-Butano.
355
00:23:12,080 --> 00:23:15,560
I thought,
"Of all the NFTs I've seen,
356
00:23:15,560 --> 00:23:17,560
"this one looks special.
357
00:23:17,560 --> 00:23:21,280
"This is the one I'll dip my toe
in the water with."
358
00:23:23,440 --> 00:23:29,000
Art Wars had all the ingredients
to be a unique investment.
359
00:23:30,040 --> 00:23:33,680
I was going to own
a piece of Star Wars history.
360
00:23:33,680 --> 00:23:35,640
I did think, "This could be it!"
361
00:23:47,080 --> 00:23:49,080
I am an ultra-contemporary artist.
362
00:23:50,560 --> 00:23:53,600
Embracing NFTs was
a business decision for me.
363
00:23:54,640 --> 00:23:57,200
You know, the boom that we were in,
364
00:23:57,200 --> 00:23:59,280
this is a really attractive
environment,
365
00:23:59,280 --> 00:24:01,680
but it's also
a frenzied environment.
366
00:24:01,680 --> 00:24:05,080
It's a "jump on the bandwagon
really fast" environment.
367
00:24:06,800 --> 00:24:10,920
The Art Wars NFT sale
aspires to feature many more helmets
368
00:24:10,920 --> 00:24:13,800
than were part
of the original exhibition.
369
00:24:13,800 --> 00:24:17,120
And that's where digital artists
like Amy Karle come in.
370
00:24:18,200 --> 00:24:20,800
This project looked huge.
371
00:24:22,240 --> 00:24:24,320
I saw a number of artists
372
00:24:24,320 --> 00:24:27,280
who I recognised, too -
some big-name artists.
373
00:24:28,880 --> 00:24:31,120
The curator was Ben Moore.
374
00:24:31,120 --> 00:24:33,440
I see that he was associated
with a blue chip gallery,
375
00:24:33,440 --> 00:24:34,600
which was Saatchi.
376
00:24:35,720 --> 00:24:39,400
I didn't know him, but I didn't have
any reason not to trust him.
377
00:24:42,560 --> 00:24:46,000
Along with the other new artists,
Amy will be creating
378
00:24:46,000 --> 00:24:48,720
computer-generated helmets
from scratch.
379
00:24:50,360 --> 00:24:53,720
I was invited to make
two digital artworks.
380
00:24:54,760 --> 00:24:57,840
One piece they would sell
to a collector,
381
00:24:57,840 --> 00:25:00,960
and the other piece
I could choose to keep,
382
00:25:00,960 --> 00:25:02,960
or sell, or do what I want with.
383
00:25:04,360 --> 00:25:06,320
It looked like it was
going to make a lot of money
384
00:25:06,320 --> 00:25:07,600
and be very successful...
385
00:25:08,920 --> 00:25:11,680
..you know, as long as
it was all done properly.
386
00:25:20,120 --> 00:25:22,720
In the NFT world,
you definitely felt like you were
387
00:25:22,720 --> 00:25:25,560
at the beginning of a wave
of something new and exciting.
388
00:25:27,800 --> 00:25:30,520
It was like a dark magic.
389
00:25:33,480 --> 00:25:35,600
By the autumn of 2021...
390
00:25:36,760 --> 00:25:40,840
..there are some emerging masters
in this dark magic.
391
00:25:43,760 --> 00:25:46,720
Mysterious, Svengali-like figures
392
00:25:46,720 --> 00:25:49,600
who run NFT sales
behind the scenes...
393
00:25:51,480 --> 00:25:52,880
..for a price.
394
00:25:56,160 --> 00:25:58,440
All businessmen are shrewd.
395
00:25:58,440 --> 00:26:01,680
As an artist,
you have to be aware of that,
396
00:26:01,680 --> 00:26:05,000
that they're going to try
and manipulate you to make money.
397
00:26:05,000 --> 00:26:06,960
I mean, that's what galleries do,
isn't it?
398
00:26:06,960 --> 00:26:08,600
But are they going to open a door
399
00:26:08,600 --> 00:26:10,800
to another world
that I don't know about?
400
00:26:12,080 --> 00:26:16,040
There are two NFT gurus
that Bran's already worked with
401
00:26:16,040 --> 00:26:19,480
that are on the lookout
for new opportunities.
402
00:26:19,480 --> 00:26:24,520
I had introduced Ben to these guys.
403
00:26:24,520 --> 00:26:28,840
They were well-rehearsed
within that world.
404
00:26:30,240 --> 00:26:33,480
These two men
will operate out of sight
405
00:26:33,480 --> 00:26:37,400
and will only be known
by their crypto handles.
406
00:26:37,400 --> 00:26:39,640
I met Crypto Cowboy in the pub.
407
00:26:42,040 --> 00:26:46,600
And then I went on a zoom call
with NFT Master.
408
00:26:47,960 --> 00:26:50,560
He spoke to me from
his quite vast-looking,
409
00:26:50,560 --> 00:26:54,440
impressive house in Thailand,
410
00:26:54,440 --> 00:26:57,560
and my first impression was,
411
00:26:57,560 --> 00:27:01,040
"Yeah, this is a guy who knows
what he's doing," you know?
412
00:27:04,320 --> 00:27:07,360
If Ben's got something in his head,
it's very difficult to get it out.
413
00:27:08,600 --> 00:27:12,040
But he doesn't take advice
very easily.
414
00:27:12,040 --> 00:27:15,360
I think he had a few shadows
that formed around him.
415
00:27:18,160 --> 00:27:20,280
He found some people
in certain circles
416
00:27:20,280 --> 00:27:22,680
that I wouldn't have liked
to see him in.
417
00:27:25,880 --> 00:27:29,040
He saw a pot of gold
that was sitting there, ready,
418
00:27:29,040 --> 00:27:33,520
at the end of the NFT rainbow,
and he took it with both hands.
419
00:27:40,280 --> 00:27:43,800
You imagine that all
the governmental banking systems
420
00:27:43,800 --> 00:27:48,600
that run our societies are
kind of similar to the Death Star.
421
00:27:48,600 --> 00:27:51,360
And that this NFT,
this cryptocurrency,
422
00:27:51,360 --> 00:27:53,560
is almost like a rebel alliance.
423
00:27:54,800 --> 00:27:56,200
With the Art Wars NFT,
424
00:27:56,200 --> 00:27:59,760
there are links to Star Wars,
links to the rebellion,
425
00:27:59,760 --> 00:28:02,360
and so that might appeal
to those types of people
426
00:28:02,360 --> 00:28:04,640
who are quite anarchical.
427
00:28:04,640 --> 00:28:07,920
The stormtroopers
of the Art Wars collection
428
00:28:07,920 --> 00:28:10,840
are the ones who managed
to escape from the Death Star
429
00:28:10,840 --> 00:28:12,880
and liberate themselves.
430
00:28:14,440 --> 00:28:18,520
The art world is quite
an elite, gated community.
431
00:28:18,520 --> 00:28:21,080
This was a way
of revolutionising that.
432
00:28:22,320 --> 00:28:26,360
It's new technology,
and it's disruptive technology,
433
00:28:26,360 --> 00:28:30,080
so, in many ways,
it can liberate people.
434
00:28:31,280 --> 00:28:33,320
It's a bit like the Wild West,
435
00:28:33,320 --> 00:28:35,840
but there is a lot of money
to be made.
436
00:28:41,600 --> 00:28:45,720
The sale is launching into
a completely unregulated market.
437
00:28:46,960 --> 00:28:51,400
There's potentially a lot to gain,
but everything to lose.
438
00:28:52,760 --> 00:28:57,520
I've been a bartender-slash-waiter
for most of my life.
439
00:29:00,400 --> 00:29:02,600
It was a pretty big deal for me,
440
00:29:02,600 --> 00:29:05,960
so I was really aware of
the money I was putting in it.
441
00:29:07,160 --> 00:29:09,560
Of course, NFTs can be a gamble,
442
00:29:09,560 --> 00:29:11,560
but seeing the hype
around the project,
443
00:29:11,560 --> 00:29:15,840
I was pretty convinced
that it would be a safe investment.
444
00:29:26,840 --> 00:29:31,280
What I didn't like about it all was
the element of how urgent it was,
445
00:29:31,280 --> 00:29:33,360
of how quickly it needed to be done.
446
00:29:35,600 --> 00:29:39,840
But...the team was saying,
"It needs to be done now
447
00:29:39,840 --> 00:29:41,640
"because it's at its peak...
448
00:29:44,320 --> 00:29:47,960
"..like a piece of fruit just ready
and ripe to pick off the tree...
449
00:29:49,280 --> 00:29:52,600
"..and it's about to start dropping
down, so we have to get it now."
450
00:29:57,280 --> 00:29:59,760
Usually, when I'm invited
to projects,
451
00:29:59,760 --> 00:30:01,840
there's a huge lead time.
452
00:30:01,840 --> 00:30:06,040
But in this case, I was invited,
like, a few weeks before the drop,
453
00:30:06,040 --> 00:30:08,480
so everything had to happen
really fast.
454
00:30:10,960 --> 00:30:14,160
I had to just kind of keep moving
forward, making the artwork...
455
00:30:16,400 --> 00:30:18,400
..to make sure it was ready to mint.
456
00:30:19,520 --> 00:30:21,160
And the other artists did, too.
457
00:30:24,200 --> 00:30:28,440
The sale promises high-quality,
individually-created works.
458
00:30:30,360 --> 00:30:33,960
But even with the addition
of Amy and other new artists,
459
00:30:33,960 --> 00:30:37,480
the project is well short
of the NFTs it needs.
460
00:30:39,680 --> 00:30:43,000
The way that this NFT made money
was due to volume.
461
00:30:44,000 --> 00:30:47,160
So, if you were just selling
50 NFTs,
462
00:30:47,160 --> 00:30:49,560
it would make, like, 100 grand,
or something.
463
00:30:49,560 --> 00:30:52,960
But if you're selling 1,000 of them,
464
00:30:52,960 --> 00:30:54,240
then you're making...
465
00:30:55,240 --> 00:30:56,280
..proper money.
466
00:30:57,480 --> 00:31:02,800
With only two weeks to go, the team
are over 1,000 helmets short.
467
00:31:02,800 --> 00:31:07,440
They'll need to do whatever it takes
to get them created in time.
468
00:31:22,720 --> 00:31:26,840
Mate, it's good. It's all good.
469
00:31:26,840 --> 00:31:31,440
1,138 images.
470
00:31:31,440 --> 00:31:33,680
Let's do this.
471
00:31:36,400 --> 00:31:40,720
Building up to the launch,
Crypto Cowboy was in Bosnia...
472
00:31:41,800 --> 00:31:44,520
..working with Chewsnacca...
473
00:31:44,520 --> 00:31:46,880
CHEWBACCA HOWLS
474
00:31:46,880 --> 00:31:50,120
..making sure that
the bulk of all the helmets
475
00:31:50,120 --> 00:31:53,280
that were computer-generated
were made.
476
00:31:55,040 --> 00:31:56,800
I'm not sure
if he's actually an artist,
477
00:31:56,800 --> 00:31:58,600
more of a graphic designer.
478
00:32:00,560 --> 00:32:02,000
CHEWBACCA HOWLS
479
00:32:03,480 --> 00:32:06,400
At the time, I wasn't aware
that there was just one guy
480
00:32:06,400 --> 00:32:08,520
making so many helmets,
481
00:32:08,520 --> 00:32:13,880
and quite how badly done a lot of
the computer-generated helmets were.
482
00:32:16,120 --> 00:32:18,960
Oh, it's fucking done, mate!
483
00:32:18,960 --> 00:32:20,880
17 days,
484
00:32:20,880 --> 00:32:23,400
16 to 18 hours a day,
485
00:32:23,400 --> 00:32:25,880
I have just completed it.
486
00:32:25,880 --> 00:32:29,280
ECHOING: Done 'em! Done 'em!
Done 'em! Done 'em! Done 'em!
487
00:32:29,280 --> 00:32:32,000
Done 'em! Done 'em! Done 'em!
Done 'em! Done 'em!
488
00:32:38,000 --> 00:32:42,040
So, the way the drop was organised,
it was going to be a lottery.
489
00:32:43,240 --> 00:32:44,680
You couldn't rush to buy
490
00:32:44,680 --> 00:32:47,560
the Damien Hirst or Anish Kapoor
or something,
491
00:32:47,560 --> 00:32:53,480
so people had to pay quite a bit of
money to purchase these artworks
492
00:32:53,480 --> 00:32:55,200
before they even know what they are.
493
00:32:56,560 --> 00:33:00,960
Each helmet in this lucky dip
is on sale for the same price,
494
00:33:00,960 --> 00:33:07,520
roughly £2,000, payable in
the cryptocurrency Ethereum, or ETH.
495
00:33:07,520 --> 00:33:09,720
You don't know
what you're going to get,
496
00:33:09,720 --> 00:33:13,000
so that can be
another big part of the drive
497
00:33:13,000 --> 00:33:16,280
to get buyers interested
and to get more money.
498
00:33:16,280 --> 00:33:20,320
There were some fantastic artists
on those helmets,
499
00:33:20,320 --> 00:33:23,320
so the chance of getting
one of those was brilliant.
500
00:33:23,320 --> 00:33:27,000
I mean, I could have got
a Damien Hirst, one of one.
501
00:33:28,240 --> 00:33:32,400
I think there were like some legit
artists that had actually done this.
502
00:33:32,400 --> 00:33:34,640
This is a pretty big project.
503
00:33:34,640 --> 00:33:38,640
A few days before the drop,
we started hearing some of the hype
504
00:33:38,640 --> 00:33:41,480
and thought, "Oh, this is getting
some significant attention
505
00:33:41,480 --> 00:33:44,520
"from people who are in
the industry, from people who know."
506
00:33:44,520 --> 00:33:47,480
What is going on,
all my crypto friends?
507
00:33:47,480 --> 00:33:50,600
I might just go try and FOMO in for
one of these after the show, guys.
508
00:33:50,600 --> 00:33:53,160
When I look at this stuff
that's on the screen right now,
509
00:33:53,160 --> 00:33:55,920
it looks like really,
really good 3D art.
510
00:34:14,120 --> 00:34:16,920
As the hours and minutes tick away,
511
00:34:16,920 --> 00:34:20,960
the potential investors
take to the online chatroom Discord,
512
00:34:20,960 --> 00:34:23,640
where NFT communities are hosted.
513
00:34:32,280 --> 00:34:35,560
Being in the Discord, I was excited
because, at the time,
514
00:34:35,560 --> 00:34:39,520
I was just convinced
this was going to blow up so much
515
00:34:39,520 --> 00:34:41,720
that it was going to
make me rich, you know?
516
00:34:43,600 --> 00:34:47,160
I was on Discord, talking to people,
getting hyped up about it.
517
00:34:47,160 --> 00:34:48,720
There was a lot of FOMO,
518
00:34:48,720 --> 00:34:50,240
so a lot of fear of missing out.
519
00:34:52,320 --> 00:34:55,840
The general feeling of everybody
in the Discord was happiness.
520
00:34:55,840 --> 00:34:58,000
They were just happy
they were part of it.
521
00:35:00,800 --> 00:35:03,040
"I can't wait for this."
"I'm going to get the Damien Hirst."
522
00:35:03,040 --> 00:35:04,760
"I'm going to do this."
"I'm going to get that."
523
00:35:04,760 --> 00:35:06,520
"It's going to be worth this much."
524
00:35:06,520 --> 00:35:08,600
The expectations were really high.
525
00:35:08,600 --> 00:35:11,800
It just gets crazy, and people
start getting the wildest ideas.
526
00:35:14,320 --> 00:35:15,960
The hype's getting up.
527
00:35:15,960 --> 00:35:17,920
It's a lot of enthusiasm,
a lot of, like,
528
00:35:17,920 --> 00:35:20,720
"What am I going to get?"
"What's going to be revealed?"
529
00:35:24,360 --> 00:35:28,800
This feeling of,
like, Vegas excitement, casino...
530
00:35:31,280 --> 00:35:34,240
That is part of the experience,
the build-up.
531
00:35:34,240 --> 00:35:36,560
It is a rush.
532
00:35:36,560 --> 00:35:38,520
It's kind of like Christmas.
533
00:35:42,680 --> 00:35:46,480
I've set an alarm
to be sure to not miss it.
534
00:35:50,080 --> 00:35:53,360
It just goes super, super quick.
535
00:35:53,360 --> 00:35:55,280
I went out to the shops,
and I come back,
536
00:35:55,280 --> 00:35:57,080
and I remember
running back upstairs, thinking,
537
00:35:57,080 --> 00:35:58,400
"Oh, shit, it might be on!"
538
00:36:00,680 --> 00:36:02,240
I was running up the stairs.
Looked at it.
539
00:36:02,240 --> 00:36:03,720
It still hadn't happened yet.
540
00:36:03,720 --> 00:36:06,760
And then probably smoked about,
like, 20 cigarettes
541
00:36:06,760 --> 00:36:08,560
just watching the screen.
542
00:36:10,960 --> 00:36:13,120
Looking at the clock
every five minutes, like,
543
00:36:13,120 --> 00:36:15,240
"When's it going to happen?
When's it going to happen?"
544
00:36:17,040 --> 00:36:18,920
I got ready, I got prepared
545
00:36:18,920 --> 00:36:22,640
because I thought there would be
a fastest-finger battle.
546
00:36:29,320 --> 00:36:32,520
And then...it was open
to the public.
547
00:36:42,720 --> 00:36:44,440
I bought one.
548
00:36:44,440 --> 00:36:46,480
I was just so ecstatic,
549
00:36:46,480 --> 00:36:49,280
so happy,
because everything clicked.
550
00:36:49,280 --> 00:36:51,800
FIREWORKS POP
551
00:36:51,800 --> 00:36:53,240
I was watching the clock.
552
00:36:53,240 --> 00:36:55,600
I waited for the minutes
to come down.
553
00:36:59,400 --> 00:37:04,080
And then suddenly it all deflated,
as I realised they'd all been sold.
554
00:37:04,080 --> 00:37:07,040
That's the button. Didn't work.
555
00:37:07,040 --> 00:37:08,640
Cos there were so many people
out there,
556
00:37:08,640 --> 00:37:12,120
trying to get it at the same time,
I missed it! I didn't even get any!
557
00:37:14,600 --> 00:37:17,520
The whole collection sold out
in five seconds.
558
00:37:26,080 --> 00:37:29,040
When it actually...
In front of my eyes,
559
00:37:29,040 --> 00:37:34,520
I could see that
it had actually made that money,
560
00:37:34,520 --> 00:37:38,280
and I was told, it was confirmed,
and I knew it had happened,
561
00:37:38,280 --> 00:37:40,400
I just fucking went mad!
562
00:37:44,960 --> 00:37:47,680
I mean, to go from running on empty
563
00:37:47,680 --> 00:37:52,800
to suddenly being
into the realm of a million...
564
00:37:54,240 --> 00:37:57,160
..I was just elated.
565
00:37:58,840 --> 00:38:02,480
MUSIC: Marea (We've Lost Dancing) by
Fred Again and the Blessed Madonna
566
00:38:12,800 --> 00:38:14,480
Finally, I'd made it.
567
00:38:15,640 --> 00:38:20,640
We've just made, like,
stupid amounts of money.
568
00:38:20,640 --> 00:38:25,360
It was just pure, unlimited ecstasy.
569
00:38:28,440 --> 00:38:29,920
Yeah.
570
00:38:29,920 --> 00:38:31,440
GUNSHOTS
571
00:38:31,440 --> 00:38:34,520
Just made about two mil on NFT.
572
00:38:34,520 --> 00:38:36,800
HE LAUGHS
573
00:38:39,000 --> 00:38:41,000
Yeah, that's how we roll!
574
00:38:41,000 --> 00:38:44,520
We made it on the NFT,
that's what I'm saying!
575
00:38:54,120 --> 00:38:59,120
Were you concerned at all
about repercussions at this point?
576
00:39:01,320 --> 00:39:02,440
Um...
577
00:39:03,480 --> 00:39:04,600
No.
578
00:39:06,360 --> 00:39:08,680
PHONE LINE RINGS
579
00:39:10,840 --> 00:39:12,320
ANSWER MACHINE BEEPS
580
00:39:12,320 --> 00:39:15,240
You are a fucking millionaire.
581
00:39:15,240 --> 00:39:16,520
How do you feel?
582
00:39:16,520 --> 00:39:17,640
ANSWER MACHINE BEEPS
583
00:39:17,640 --> 00:39:20,400
Hey, buddy.
Um, well, what can I say?
584
00:39:20,400 --> 00:39:21,800
HE LAUGHS
585
00:39:21,800 --> 00:39:23,720
Fucking insane. I'm in shock.
586
00:39:23,720 --> 00:39:27,120
Everyone within the industry
is fucking shocked as well.
587
00:39:27,120 --> 00:39:30,400
They're just like,
"This has never gone down so quick."
588
00:39:30,400 --> 00:39:31,920
ANSWER MACHINE BEEPS
589
00:39:31,920 --> 00:39:33,200
This situation, I mean,
590
00:39:33,200 --> 00:39:35,680
I suppose I'm absolutely
over the fucking moon!
591
00:39:35,680 --> 00:39:36,840
I wouldn't be surprised
592
00:39:36,840 --> 00:39:39,120
if we were worth ten million
by the end of this.
593
00:39:39,120 --> 00:39:40,360
Ah!
594
00:39:44,280 --> 00:39:48,200
After the day of selling the NFTs,
he was elated. Very happy.
595
00:39:48,200 --> 00:39:50,240
He... You know,
nothing could touch him.
596
00:39:50,240 --> 00:39:51,760
He was on cloud nine.
597
00:39:54,480 --> 00:39:57,800
But, er, clouds can be dark
as well as light.
598
00:40:00,160 --> 00:40:02,080
And I think
storm clouds were coming.
599
00:40:06,360 --> 00:40:09,640
DARTH VADER RESPIRATOR RASPS
600
00:40:17,120 --> 00:40:18,920
So now, if you look at OpenSea,
601
00:40:18,920 --> 00:40:21,280
they've already been selling
for a pretty good...
602
00:40:21,280 --> 00:40:23,160
The floor price is already at 3.6.
603
00:40:23,160 --> 00:40:24,560
When I last looked, it was two.
604
00:40:24,560 --> 00:40:26,720
I probably should have bought one
when it was at two.
605
00:40:26,720 --> 00:40:29,120
The important thing with NFTs,
at the time,
606
00:40:29,120 --> 00:40:30,760
was it was all about the after-sale.
607
00:40:30,760 --> 00:40:34,120
it was all about people
trading the NFTs.
608
00:40:34,120 --> 00:40:35,920
And I think that's when
609
00:40:35,920 --> 00:40:38,760
the large amount of money
was going to kick in.
610
00:40:38,760 --> 00:40:41,040
The early people to buy,
buy it for a lower rate,
611
00:40:41,040 --> 00:40:42,560
and then they could resell it,
612
00:40:42,560 --> 00:40:45,920
and sometimes flip it really fast
and make good money on it.
613
00:40:45,920 --> 00:40:48,600
MUSIC: Ooh La La
by Goldfrapp
614
00:40:48,600 --> 00:40:51,160
With the after-sale trading
under way,
615
00:40:51,160 --> 00:40:54,360
those that missed out
get another chance to buy.
616
00:40:55,440 --> 00:40:58,280
The FOMO creeps in,
and you start thinking,
617
00:40:58,280 --> 00:41:00,040
"I want this! I want this!"
618
00:41:00,040 --> 00:41:02,320
But the price is going up.
619
00:41:02,320 --> 00:41:05,960
So, the next day,
I decided to pull the trigger
620
00:41:05,960 --> 00:41:09,520
and went all in,
probably about £6,000.
621
00:41:10,720 --> 00:41:12,040
I bought one.
622
00:41:12,040 --> 00:41:14,840
And then I bought three more
on the aftermarket.
623
00:41:16,120 --> 00:41:17,800
So, now if you look at OpenSea,
624
00:41:17,800 --> 00:41:20,480
they've already been selling
for a pretty good price.
625
00:41:20,480 --> 00:41:23,920
I probably should have bought one
when it was at two.
626
00:41:23,920 --> 00:41:25,960
In that moment, I was feeling, like,
627
00:41:25,960 --> 00:41:28,120
"Look at how much money
it's making."
628
00:41:28,120 --> 00:41:30,720
I get what the hype around NFTs was.
629
00:41:30,720 --> 00:41:33,200
That's when I, like,
really just felt it.
630
00:41:35,240 --> 00:41:38,400
The price was jumping
all over the place.
631
00:41:38,400 --> 00:41:42,000
So I was thinking, "Wow,
you know, if it's this popular,
632
00:41:42,000 --> 00:41:43,560
"where could this go?"
633
00:41:45,240 --> 00:41:49,400
Within the first few days,
hundreds of trades are made,
634
00:41:49,400 --> 00:41:53,640
with Ben and his team getting a cut
of every single one.
635
00:41:53,640 --> 00:41:55,960
Yeah, man,
they're...they're like hotcakes.
636
00:41:55,960 --> 00:41:57,680
Going like fucking hotcakes.
637
00:41:57,680 --> 00:42:02,600
The cheapest one up for sale
at the moment is fucking $25,000.
638
00:42:02,600 --> 00:42:04,560
# Switch me on
639
00:42:05,960 --> 00:42:08,080
# Turn me up... #
640
00:42:08,080 --> 00:42:10,680
Every now and again,
I'd get a message saying
641
00:42:10,680 --> 00:42:13,320
"We just made another
200 grand in royalties."
642
00:42:13,320 --> 00:42:16,600
That was constantly coming
into the wallet all the time.
643
00:42:16,600 --> 00:42:20,040
It was just like winning the jackpot
in a....
644
00:42:20,040 --> 00:42:21,680
All the money in the casino.
645
00:42:22,800 --> 00:42:25,320
I remember, like,
running around in my kitchen,
646
00:42:25,320 --> 00:42:27,960
looking at my phone,
and I kept refreshing the screen,
647
00:42:27,960 --> 00:42:29,640
seeing what the sales were like,
648
00:42:29,640 --> 00:42:31,600
and they were just
going up and up and up.
649
00:42:31,600 --> 00:42:34,360
It felt like the drama of Vegas.
650
00:42:36,920 --> 00:42:39,880
It was way more money
than what was expected.
651
00:42:42,640 --> 00:42:48,280
I had never even handled anything
close to that kind of money before.
652
00:42:50,720 --> 00:42:53,200
He got a car. He got a Bentley
653
00:42:53,200 --> 00:42:55,960
with a personalised number plate,
I think.
654
00:42:55,960 --> 00:42:57,960
# Made for love
655
00:42:57,960 --> 00:43:02,280
# I need la la la la la
I need... #
656
00:43:02,280 --> 00:43:05,200
It wasn't all fast cars.
657
00:43:05,200 --> 00:43:08,760
Ben also made a donation
of £30,000 to charity.
658
00:43:10,960 --> 00:43:13,000
So we'd had our honeymoon period,
659
00:43:13,000 --> 00:43:16,520
and I thought,
"There's probably trouble coming,
660
00:43:16,520 --> 00:43:20,640
"but probably got a few days
before it all kicks off."
661
00:43:21,720 --> 00:43:25,080
# I need oooh la la la la... #
662
00:43:32,800 --> 00:43:35,800
The next thing that happened
was that we got wind
663
00:43:35,800 --> 00:43:38,360
that Damien Hirst
pulled out of the project.
664
00:43:41,680 --> 00:43:44,800
Hirst is one of the biggest artists
in the whole world.
665
00:43:46,400 --> 00:43:49,480
So to have his name
associated with this project
666
00:43:49,480 --> 00:43:51,120
added a lot of value.
667
00:43:51,120 --> 00:43:54,000
This way, guys. This way, please.
668
00:43:54,000 --> 00:43:57,560
From the start, I said to
the Crypto Brothers,
669
00:43:57,560 --> 00:44:01,960
"Please, please, don't feature
Damien Hirst's helmet."
670
00:44:01,960 --> 00:44:05,480
Damien Hirst is known
in the art world...
671
00:44:06,760 --> 00:44:10,600
..to have the most aggressive
lawyers behind him.
672
00:44:10,600 --> 00:44:14,320
I think that was the first sign
I saw of trouble brewing.
673
00:44:16,880 --> 00:44:20,000
The project has lost its poster boy.
674
00:44:20,000 --> 00:44:22,800
And the question for collectors
like Samir...
675
00:44:24,760 --> 00:44:28,480
..is should they stick or twist?
676
00:44:28,480 --> 00:44:31,440
I was pretty concerned,
even though they said
677
00:44:31,440 --> 00:44:35,600
they had the rights and that
everything was going like planned,
678
00:44:35,600 --> 00:44:37,360
but clearly it wasn't.
679
00:44:41,200 --> 00:44:45,880
But I was still optimistic about it
because it's still Star Wars,
680
00:44:45,880 --> 00:44:48,680
and it still seemed legit.
681
00:44:48,680 --> 00:44:52,840
People were convinced
it was just a minor inconvenience,
682
00:44:52,840 --> 00:44:54,840
and eventually it would be OK.
683
00:44:59,160 --> 00:45:02,960
So Ben came into the Discord
community and let us know
684
00:45:02,960 --> 00:45:05,360
about what was going on,
but also kind of blew it off, like,
685
00:45:05,360 --> 00:45:08,480
"Oh, his team called my team,
and everything's all set."
686
00:45:08,480 --> 00:45:11,840
And, you know, being in the art
world, I see this kind of stuff.
687
00:45:11,840 --> 00:45:15,240
So I didn't feel good about it,
I didn't like it,
688
00:45:15,240 --> 00:45:16,960
but sometimes these things happen.
689
00:45:23,080 --> 00:45:25,400
A lot of people worried
that he had pulled out,
690
00:45:25,400 --> 00:45:27,280
but I respected his decision.
691
00:45:27,280 --> 00:45:31,520
I've worked in collaborative shows
before where, for whatever reason,
692
00:45:31,520 --> 00:45:34,640
an artist has pulled out, whether
they've fallen out with someone,
693
00:45:34,640 --> 00:45:35,880
whether the timing's bad.
694
00:45:35,880 --> 00:45:39,160
You're dealing with a bunch of
narcissists, at the end of the day.
695
00:45:47,360 --> 00:45:50,480
Well, let's talk about the reveal.
696
00:45:54,000 --> 00:45:56,680
This is the most exciting stage.
697
00:45:57,880 --> 00:45:59,520
The art is revealed.
698
00:46:00,840 --> 00:46:04,440
It's only now,
after three days of trading,
699
00:46:04,440 --> 00:46:08,520
that the collectors will find out
what they've actually bought...
700
00:46:11,720 --> 00:46:14,480
..and whether their gamble
has paid off.
701
00:46:16,640 --> 00:46:18,880
So I showed up for the reveal,
702
00:46:18,880 --> 00:46:21,400
and it really
just quickly took a turn
703
00:46:21,400 --> 00:46:23,840
for something
I was not expecting at all.
704
00:46:25,720 --> 00:46:28,360
There were some people
in the community
705
00:46:28,360 --> 00:46:30,360
who started raising red flags
706
00:46:30,360 --> 00:46:34,120
that there was really poorly made
artwork in the collection.
707
00:46:36,680 --> 00:46:40,720
My helmet that I revealed, it
wasn't...it wasn't anything special,
708
00:46:40,720 --> 00:46:42,960
but it wasn't as bad
as some of them.
709
00:46:46,320 --> 00:46:49,640
I was happy with one piece
that was pretty unique...
710
00:46:51,040 --> 00:46:53,520
..but then I was a bit disappointed
in the three other ones
711
00:46:53,520 --> 00:46:55,840
that I have because
they were very similar.
712
00:46:55,840 --> 00:46:59,640
And then I noticed, when looking
at all the helmets,
713
00:46:59,640 --> 00:47:02,000
a lot of them was just duplicates.
714
00:47:05,440 --> 00:47:09,200
Some of these pieces
were appallingly bad.
715
00:47:11,440 --> 00:47:14,880
We were essentially
seeing wallpaper art
716
00:47:14,880 --> 00:47:17,000
being put on top of these helmets.
717
00:47:20,760 --> 00:47:22,040
It had been rushed.
718
00:47:23,280 --> 00:47:25,640
People started questioning
what was going on.
719
00:47:28,040 --> 00:47:31,680
That was the first time I learned
that there was a number of helmets
720
00:47:31,680 --> 00:47:34,480
that were made, that were
just kind of mass-produced
721
00:47:34,480 --> 00:47:35,680
and thrown in there.
722
00:47:37,400 --> 00:47:39,760
There was quite a bit
of disappointment.
723
00:47:39,760 --> 00:47:42,160
So it was a bit of everything,
combined with the fact
724
00:47:42,160 --> 00:47:45,840
that Damien Hirst
also pulled out of it, etc,
725
00:47:45,840 --> 00:47:48,240
that I was starting
to worry about my money.
726
00:47:52,600 --> 00:47:56,760
So even though all of these
different straws are mounting up
727
00:47:56,760 --> 00:48:00,400
and there was all these red flags,
the price still kept going up.
728
00:48:02,040 --> 00:48:05,120
The overall sentiment was that,
"We can solve these problems,
729
00:48:05,120 --> 00:48:08,640
"we can keep this project going.
We can keep making money."
730
00:48:08,640 --> 00:48:12,360
The issues with
the mass-produced Bosnian helmets
731
00:48:12,360 --> 00:48:16,600
doesn't seem to have much impact
on the value of the trades.
732
00:48:16,600 --> 00:48:18,680
CHEWBACCA HOWLS
733
00:48:20,240 --> 00:48:24,240
I mean, even these badly rushed jobs
734
00:48:24,240 --> 00:48:27,360
were still selling at,
you know, serious money.
735
00:48:30,840 --> 00:48:33,880
Sometimes it doesn't matter
736
00:48:33,880 --> 00:48:37,680
how good or bad the image of
the artwork you've bought is,
737
00:48:37,680 --> 00:48:42,640
it's more the fact that you own
a limited edition of something
738
00:48:42,640 --> 00:48:45,000
that apparently is very valuable.
739
00:48:47,160 --> 00:48:52,120
The pink one, the pink helmet,
sold for 50 grand in crypto,
740
00:48:52,120 --> 00:48:55,480
and that's the biggest sale
I've ever done.
741
00:48:58,080 --> 00:49:02,440
For the organisers,
the money is still pouring in,
742
00:49:02,440 --> 00:49:07,560
5% of every trade, worth
hundreds of thousands of pounds.
743
00:49:09,320 --> 00:49:13,360
Despite the problems,
it seems they're untouchable.
744
00:49:14,520 --> 00:49:16,480
The team were always convincing me
745
00:49:16,480 --> 00:49:19,800
that it was all...it was all fine,
it's all going to be sorted.
746
00:49:19,800 --> 00:49:24,800
But, in my own head, I was like,
"There's so much that can go wrong."
747
00:49:41,040 --> 00:49:44,600
Were you aware
of...of...of this NFT sale?
748
00:49:44,600 --> 00:49:48,560
And if you weren't, when did
you first hear anything about it?
749
00:49:48,560 --> 00:49:50,400
I think I was first aware...
750
00:49:50,400 --> 00:49:52,440
I think... I can't remember
which...who it was,
751
00:49:52,440 --> 00:49:55,400
but one of the artists kind of,
like, reached out
752
00:49:55,400 --> 00:49:58,760
and said, "You know, your work's
being exploited, and mine is, too.
753
00:49:58,760 --> 00:50:00,600
"What you want to do about it?"
754
00:50:00,600 --> 00:50:03,720
I received a tweet
telling me about the sale.
755
00:50:03,720 --> 00:50:06,800
I was entirely new to the NFT world
and such things.
756
00:50:06,800 --> 00:50:08,720
I didn't really understand
what I was being told
757
00:50:08,720 --> 00:50:12,200
until I looked into it further,
and then it quickly unravelled.
758
00:50:16,760 --> 00:50:18,720
I called people, I emailed people.
759
00:50:19,920 --> 00:50:22,680
I just wanted to make everyone
aware as quick as possible
760
00:50:22,680 --> 00:50:25,760
so that we could take action
as quick as possible.
761
00:50:29,400 --> 00:50:33,600
I, like a lot of other artists,
knew nothing.
762
00:50:33,600 --> 00:50:38,400
The first I knew was Unskilled
Worker contacted me via Instagram
763
00:50:38,400 --> 00:50:40,120
and said, "Do you know about this?"
764
00:50:41,640 --> 00:50:48,160
Sent me a screen grab of the helmet
that I made in a Twitter post.
765
00:50:51,720 --> 00:50:52,920
A friend of mine
766
00:50:52,920 --> 00:50:56,880
sent me a screen capture
of my sculpture.
767
00:50:57,840 --> 00:51:00,760
You know, a very grainy thing.
And then underneath it, it said ETH,
768
00:51:00,760 --> 00:51:03,240
E-T—H, with that
little triangle sign.
769
00:51:03,240 --> 00:51:08,000
And then, what I later found out was
about £8,500 on it or something,
770
00:51:08,000 --> 00:51:09,720
you know, like, um...
771
00:51:09,720 --> 00:51:12,520
And that was the first
I knew about it, yeah.
772
00:51:12,520 --> 00:51:14,240
Max, my assistant, was on Discord,
773
00:51:14,240 --> 00:51:15,960
and he's like, "Hey, it seems like
774
00:51:15,960 --> 00:51:18,520
"Ben's releasing your helmet
as an NFT."
775
00:51:18,520 --> 00:51:21,760
And I was like, "What?
What...what are you talking about?"
776
00:51:21,760 --> 00:51:24,840
So it already sent up a big flare,
777
00:51:24,840 --> 00:51:26,960
red flag of, like,
what are you doing?
778
00:51:26,960 --> 00:51:29,840
And why wouldn't you
have asked me about that?
779
00:51:29,840 --> 00:51:32,200
I was told by Chemical X,
another of the artists,
780
00:51:32,200 --> 00:51:34,680
that mine had sold
for substantial money,
781
00:51:34,680 --> 00:51:36,800
but I couldn't figure out
what the money was,
782
00:51:36,800 --> 00:51:39,040
cos it was all codes
I'd never seen before.
783
00:51:39,040 --> 00:51:43,080
Some things were saying 100,000,
some things were saying £5,000.
784
00:51:44,200 --> 00:51:47,080
It seemed... It became quite
apparent that, in fact,
785
00:51:47,080 --> 00:51:50,200
he hadn't contacted anyone.
786
00:51:50,200 --> 00:51:52,800
And people are mad about it.
Rightfully so.
787
00:51:54,840 --> 00:51:59,240
Obviously, Hayden was incensed,
as was I,
788
00:51:59,240 --> 00:52:02,320
and most of the people
that found out about it.
789
00:52:02,320 --> 00:52:05,280
I didn't know him well enough
to have any influence on him,
790
00:52:05,280 --> 00:52:09,200
apart from wanting to maybe
pop round and break his legs.
791
00:52:12,880 --> 00:52:14,640
Ben then made me aware
792
00:52:14,640 --> 00:52:18,760
that a couple of the artists
had reached out to him,
793
00:52:18,760 --> 00:52:20,320
and were a bit disgruntled
794
00:52:20,320 --> 00:52:25,200
because they felt they hadn't been
asked in the appropriate manner.
795
00:52:25,200 --> 00:52:26,400
That's the first time
796
00:52:26,400 --> 00:52:29,760
I really heard intellectual property
being mentioned.
797
00:52:31,080 --> 00:52:36,560
From the start, I said there's not
enough time to do this properly,
798
00:52:36,560 --> 00:52:38,520
to get all the artists' permission.
799
00:52:39,840 --> 00:52:41,840
You know, the sensible person
would be like,
800
00:52:41,840 --> 00:52:44,440
"Right, so let's not do it at all."
801
00:52:45,960 --> 00:52:50,160
And when you've got like 1 million
or 2 million, you know,
802
00:52:50,160 --> 00:52:54,120
staring you in the face
on the other side of this,
803
00:52:54,120 --> 00:52:59,280
then it's kind of difficult
to not do it.
804
00:53:04,680 --> 00:53:07,400
His initial response was that,
805
00:53:07,400 --> 00:53:10,520
"I emailed you,
telling you it was happening."
806
00:53:10,520 --> 00:53:13,520
Oh-ho-ho!
You have a look at the email.
807
00:53:13,520 --> 00:53:15,080
He sent out a little round robin
saying,
808
00:53:15,080 --> 00:53:17,160
"Oh, we're doing this,
we're thinking of doing that.
809
00:53:17,160 --> 00:53:20,560
"We've got..." Like anybody else
does. "And we might get into NFTs."
810
00:53:20,560 --> 00:53:22,520
That's not the same as saying,
811
00:53:22,520 --> 00:53:26,480
"We're going to do an NFT drop
using your stuff.
812
00:53:26,480 --> 00:53:28,520
"Is that OK?"
813
00:53:28,520 --> 00:53:30,080
I didn't read that email.
814
00:53:30,080 --> 00:53:32,120
If I did receive it, I certainly
wasn't paying any attention.
815
00:53:32,120 --> 00:53:33,960
And why would you
not address me personally,
816
00:53:33,960 --> 00:53:35,600
having worked with me personally?
817
00:53:36,720 --> 00:53:38,680
And what was his response?
818
00:53:38,680 --> 00:53:40,400
Max, what was Ben's response?
819
00:53:40,400 --> 00:53:43,120
He basically said,
"Oh, I was going to get around
820
00:53:43,120 --> 00:53:45,920
"to telling you about that.
Sorry I didn't mention it."
821
00:53:54,320 --> 00:53:56,520
After the helmets got revealed,
822
00:53:56,520 --> 00:53:58,880
a couple of artists
started talking on Twitter
823
00:53:58,880 --> 00:54:00,320
that they were not happy
with the fact
824
00:54:00,320 --> 00:54:02,960
that their name had been used,
and their art.
825
00:54:02,960 --> 00:54:05,080
And then indeed,
people were just angry
826
00:54:05,080 --> 00:54:07,120
because there's been lies.
827
00:54:09,800 --> 00:54:13,160
After another blow
to the credibility of the sale,
828
00:54:13,160 --> 00:54:16,320
the NFT collectors
take to the Discord chatroom
829
00:54:16,320 --> 00:54:18,040
to voice their concerns.
830
00:54:29,040 --> 00:54:31,800
I was in that chatroom
with collectors as an artist,
831
00:54:31,800 --> 00:54:34,480
and they're like, "What's going on
here? What did you know?"
832
00:54:34,480 --> 00:54:36,040
And somebody came over and said,
833
00:54:36,040 --> 00:54:38,560
"Hey, Amy,
Chemical X is saying stuff,
834
00:54:38,560 --> 00:54:41,280
"and Unskilled Worker's
saying stuff,
835
00:54:41,280 --> 00:54:43,560
"that their artwork was used
without their permission."
836
00:54:43,560 --> 00:54:47,120
So this was a huge sign
something was going wrong.
837
00:54:47,120 --> 00:54:49,880
And this was in the first few days
of the reveal.
838
00:54:49,880 --> 00:54:52,640
After the kind of things
started going downhill...
839
00:54:54,400 --> 00:54:56,600
..people had a lot of questions,
840
00:54:56,600 --> 00:54:58,120
they wanted a lot of answers,
841
00:54:58,120 --> 00:55:00,680
so the community was,
you know, banding together.
842
00:55:03,440 --> 00:55:05,200
When these problems were raised,
843
00:55:05,200 --> 00:55:09,160
I quickly realised
we were in big trouble,
844
00:55:09,160 --> 00:55:11,280
and this was not going to get fixed.
845
00:55:11,280 --> 00:55:13,640
He didn't ask
any of their permission.
846
00:55:13,640 --> 00:55:15,200
He just did it.
847
00:55:15,200 --> 00:55:18,840
So it all became
very dark and muddy.
848
00:55:18,840 --> 00:55:21,200
Nobody took responsibility.
849
00:55:32,960 --> 00:55:36,200
The sale is in a precarious state.
850
00:55:38,400 --> 00:55:41,600
Behind the scenes,
the Crypto Brothers urge Ben
851
00:55:41,600 --> 00:55:44,800
to speak directly
to the disgruntled collectors.
852
00:55:46,680 --> 00:55:52,040
I was made aware that it was kind
of vital that I be the face of it...
853
00:55:53,000 --> 00:55:56,520
..to keep up the morale
of the whole thing.
854
00:55:58,560 --> 00:56:00,320
You can handle anything with comedy.
855
00:56:00,320 --> 00:56:03,000
People will throw IP questions
at you for drama,
856
00:56:03,000 --> 00:56:05,080
and if you can disarm them
with comedy,
857
00:56:05,080 --> 00:56:06,880
then you'll get away with murder.
858
00:56:09,840 --> 00:56:11,320
How are you doing, Kaiser?
859
00:56:11,320 --> 00:56:14,520
HE CHUCKLES
Er, I'm doing OK, Ben. How are you?
860
00:56:14,520 --> 00:56:18,120
Pretty good, man.
It's been a pretty crazy week.
861
00:56:18,120 --> 00:56:20,760
Stakes are high, passions are high,
862
00:56:20,760 --> 00:56:22,680
so welcome to the game.
863
00:56:24,800 --> 00:56:28,600
I didn't even know what Discord
was until, one evening,
864
00:56:28,600 --> 00:56:31,360
I found myself the main guest.
865
00:56:32,560 --> 00:56:35,000
I have to apologise for not being
866
00:56:35,000 --> 00:56:37,600
more on top of the communication
with the artists,
867
00:56:37,600 --> 00:56:39,760
although, as I always stand by,
868
00:56:39,760 --> 00:56:43,560
I did send out a notification
about the NFT drop
869
00:56:43,560 --> 00:56:47,080
on the 4th of November.
And I've always made sure
870
00:56:47,080 --> 00:56:51,000
that part of the proceeds
be reserved for the artists
871
00:56:51,000 --> 00:56:53,600
who have been
such a major part of this.
872
00:56:56,720 --> 00:56:58,240
These are solvable problems.
873
00:56:58,240 --> 00:57:01,200
They're ugly, they all
came together, this is tough,
874
00:57:01,200 --> 00:57:05,560
but as long as we've got you, Ben,
we're gonna get through this OK.
875
00:57:11,760 --> 00:57:14,840
I thought it was amazing how
you handled that. It was brilliant.
876
00:57:14,840 --> 00:57:18,440
You did that like the emperor,
to be honest.
877
00:57:18,440 --> 00:57:19,960
You were perfect.
878
00:57:19,960 --> 00:57:22,880
And I think with the attitude
that we've got, at the moment,
879
00:57:22,880 --> 00:57:24,280
I think we'll get through anything.
880
00:57:25,280 --> 00:57:27,920
To me, the fact
that there was communication,
881
00:57:27,920 --> 00:57:30,760
and that they were listening to us,
kind of felt like,
882
00:57:30,760 --> 00:57:35,160
"OK, they maybe messed up,
but it maybe could be OK still."
883
00:57:39,360 --> 00:57:42,560
Ben has set aside some money
to pay the artists.
884
00:57:45,200 --> 00:57:48,440
His hope is that
his offer of payment
885
00:57:48,440 --> 00:57:51,480
will mean their helmets
can continue to be traded.
886
00:57:53,760 --> 00:57:55,360
Many accept the money.
887
00:57:56,400 --> 00:57:59,280
Others are going to make a stand.
888
00:58:00,480 --> 00:58:04,040
I was offering as much as
10,000, 12,000 to some of them,
889
00:58:04,040 --> 00:58:08,560
depending on how much content
they had in the NFT drop.
890
00:58:08,560 --> 00:58:11,160
They just threw it back in my face.
891
00:58:13,920 --> 00:58:18,160
They offered me £2,500 from sales
892
00:58:18,160 --> 00:58:21,040
of which I think over £20,000
were generated
893
00:58:21,040 --> 00:58:22,560
from my work, at that point.
894
00:58:24,480 --> 00:58:28,840
I think I was offered something
like, I don't know, 1,500 quid.
895
00:58:31,880 --> 00:58:34,480
It...it was irrelevant
896
00:58:34,480 --> 00:58:38,120
because he wasn't acknowledging
what he'd done.
897
00:58:39,440 --> 00:58:42,280
The attempts made were to
keep Ben Moore's show on the road.
898
00:58:45,280 --> 00:58:47,320
As it was...
The longer it was live and active,
899
00:58:47,320 --> 00:58:51,200
the more revenue it was generating
for him and his team.
900
00:58:51,200 --> 00:58:54,360
The only way to stop them
being worth anything at all
901
00:58:54,360 --> 00:58:55,880
was to have the sale pulled.
902
00:59:05,920 --> 00:59:08,040
Within two weeks of the sale,
903
00:59:08,040 --> 00:59:11,960
12 of its highest-profile artists
have pulled their helmets
904
00:59:11,960 --> 00:59:16,160
from the largest trading platform,
OpenSea.
905
00:59:16,160 --> 00:59:18,240
They put a takedown notice
to OpenSea
906
00:59:18,240 --> 00:59:20,560
and their helmets
were off the market.
907
00:59:23,280 --> 00:59:26,760
If you can't sell on OpenSea
and it can't be found on OpenSea,
908
00:59:26,760 --> 00:59:28,240
that's a really bad sign.
909
00:59:43,080 --> 00:59:46,760
It's called FUD,
fear, uncertainty and doubt.
910
00:59:46,760 --> 00:59:50,280
It's something that happens a lot
in, you know, the NFT space,
911
00:59:50,280 --> 00:59:54,080
so much so that
it can sometimes ruin a project.
912
00:59:58,240 --> 01:00:02,520
I got a tip-off from a source
that this was happening.
913
01:00:02,520 --> 01:00:06,520
I got in touch with the artists
whose work had been used
914
01:00:06,520 --> 01:00:08,800
without their knowledge
or their consent.
915
01:00:08,800 --> 01:00:10,600
Some artists who I got in touch with
916
01:00:10,600 --> 01:00:12,920
had no idea
that this had even happened.
917
01:00:15,280 --> 01:00:18,840
When the Financial Times
breaks the story,
918
01:00:18,840 --> 01:00:21,920
the sale,
and its controversial aftermath,
919
01:00:21,920 --> 01:00:24,680
immediately gets broader attention.
920
01:00:24,680 --> 01:00:28,400
I'd known of other instances
of this happening in the NFT world,
921
01:00:28,400 --> 01:00:31,000
but because you had
these high-profile artists,
922
01:00:31,000 --> 01:00:33,840
that meant that the story
was really strong.
923
01:00:38,840 --> 01:00:41,440
I should have saw at the moment,
924
01:00:41,440 --> 01:00:46,200
but I just couldn't accept the fact
that they were worth so much
925
01:00:46,200 --> 01:00:48,280
and then suddenly so little.
926
01:00:50,000 --> 01:00:52,600
The negative press
is having an impact
927
01:00:52,600 --> 01:00:55,120
on the value of the remaining NFTs.
928
01:00:55,120 --> 01:00:59,240
I was thinking it's maybe just worth
waiting until the dust settles,
929
01:00:59,240 --> 01:01:02,360
everybody calms down,
maybe we'll get some decent answers
930
01:01:02,360 --> 01:01:05,680
and reasons why
all of this is happening.
931
01:01:10,720 --> 01:01:13,600
So, around this time,
there was just so much confusion.
932
01:01:13,600 --> 01:01:16,680
The drop wasn't really what
we were told it was going to be,
933
01:01:16,680 --> 01:01:18,800
there was all different kinds
of voices saying
934
01:01:18,800 --> 01:01:20,280
all different kinds of things...
935
01:01:22,040 --> 01:01:25,200
..but the rest of the collection
were still existing
936
01:01:25,200 --> 01:01:26,880
and still being traded.
937
01:01:28,520 --> 01:01:31,280
I was thinking and feeling like,
938
01:01:31,280 --> 01:01:34,840
"OK, Art Wars can still
make this right."
939
01:01:37,600 --> 01:01:41,320
Here we are on our way
out of Orcines
940
01:01:41,320 --> 01:01:44,360
to the grand capital of France,
Paris.
941
01:01:46,320 --> 01:01:51,960
I took my family
down to the Alps, French Alps,
942
01:01:51,960 --> 01:01:54,280
on an incredible skiing trip.
943
01:01:55,440 --> 01:01:56,600
Good turn!
944
01:01:58,000 --> 01:02:00,960
Fulfilled one of my kids' dreams,
which was to go to Disneyland...
945
01:02:02,840 --> 01:02:04,360
Whee, Dad!
946
01:02:04,360 --> 01:02:06,200
Dad, Dad, Dad, Dad.
947
01:02:08,960 --> 01:02:11,760
..which, by the way,
was a complete fucking nightmare.
948
01:02:13,920 --> 01:02:16,840
You know, when you start
turning money into things
949
01:02:16,840 --> 01:02:20,040
that exist in the real world,
it does feel pretty real.
950
01:02:22,760 --> 01:02:25,920
But a weird time
because, on the one hand,
951
01:02:25,920 --> 01:02:27,920
suddenly, you've got
all this money...
952
01:02:28,960 --> 01:02:33,800
..but, on the other hand,
your life is just full -
953
01:02:33,800 --> 01:02:36,800
from the moment you wake up
to the moment you go to sleep -
954
01:02:36,800 --> 01:02:37,960
trying to...
955
01:02:39,520 --> 01:02:41,280
..sort out all these problems.
956
01:02:43,640 --> 01:02:45,400
And...
957
01:02:45,400 --> 01:02:48,680
..it just seemed like such
an impossible mess to sort out.
958
01:02:56,840 --> 01:02:58,400
I had a few calls with Ben.
959
01:02:58,400 --> 01:03:01,400
You know, I didn't know him
before this project at all.
960
01:03:01,400 --> 01:03:03,320
And, like, I remember
one of the first ones, like,
961
01:03:03,320 --> 01:03:05,720
he was in the bathtub
when we were talking,
962
01:03:05,720 --> 01:03:07,400
which was really unprofessional.
963
01:03:07,400 --> 01:03:12,440
And, like, he didn't seem
so...so concerned about the project,
964
01:03:12,440 --> 01:03:16,120
which was funny because, to me
and to a lot of the collectors,
965
01:03:16,120 --> 01:03:17,640
there was a lot of concern.
966
01:03:18,960 --> 01:03:21,400
I mean, Ben, these people have
put a lot of faith in you
967
01:03:21,400 --> 01:03:24,520
and a lot of money in this project.
They believe in you.
968
01:03:24,520 --> 01:03:27,400
And, I mean, I think the least
they deserve is...
969
01:03:27,400 --> 01:03:29,320
..is the time of day, you know?
970
01:03:29,320 --> 01:03:32,480
They just want to know
what's going on behind closed doors.
971
01:03:32,480 --> 01:03:35,240
If there are no updates, then
we don't really need to do an AMA,
972
01:03:35,240 --> 01:03:37,880
but I think that's all people
want to know about right now.
973
01:03:37,880 --> 01:03:40,120
BEN SLURS: I've got
GuantaBean saying
974
01:03:40,120 --> 01:03:43,240
you're taking advantage
of a drunk man.
975
01:03:43,240 --> 01:03:44,520
No.
976
01:03:44,520 --> 01:03:51,240
It's one o'clock
on a Friday evening in London.
977
01:03:51,240 --> 01:03:53,360
I got drunk...
978
01:03:53,360 --> 01:03:56,200
..at the end of a long working week,
979
01:03:56,200 --> 01:03:58,200
thanks to all you lot.
980
01:03:58,200 --> 01:03:59,760
BEN CHUCKLES
981
01:03:59,760 --> 01:04:01,680
It was really weird.
982
01:04:01,680 --> 01:04:05,840
I have never experienced something
like this in my professional career.
983
01:04:05,840 --> 01:04:08,120
And it was getting
more and more concerning.
984
01:04:08,120 --> 01:04:10,920
The more things that came out,
the worse it was.
985
01:04:11,880 --> 01:04:13,760
I think some of the rumours were
986
01:04:13,760 --> 01:04:16,360
that they just...
That it was a cash grab,
987
01:04:16,360 --> 01:04:18,800
so they just wanted to take
as much money as possible
988
01:04:18,800 --> 01:04:21,640
and then just abandon the project.
989
01:04:21,640 --> 01:04:24,840
Um, but, of course, I didn't know
what was true and what wasn't.
990
01:04:24,840 --> 01:04:27,840
And I think it's around that time
that we saw the video emerge
991
01:04:27,840 --> 01:04:31,680
of Ben Moore shooting with his gun
and bragging about 2 million.
992
01:04:35,240 --> 01:04:36,280
Yeah.
993
01:04:36,280 --> 01:04:40,200
Just made,
er, like, about two mil on NFT.
994
01:04:40,200 --> 01:04:41,600
GUN CLICKS
995
01:04:41,600 --> 01:04:43,040
Yeah.
996
01:04:43,040 --> 01:04:44,720
GUNSHOTS
997
01:04:44,720 --> 01:04:46,680
That's what we're talking about.
998
01:04:46,680 --> 01:04:49,120
THEY LAUGH
999
01:04:49,120 --> 01:04:52,400
Yeah, that's how we roll.
Two mil on the NFT!
1000
01:04:52,400 --> 01:04:55,320
One of the collectors
has got hold of a video
1001
01:04:55,320 --> 01:04:59,920
from Ben's private Instagram account
and circulated it online.
1002
01:04:59,920 --> 01:05:01,760
I was just so angry.
1003
01:05:01,760 --> 01:05:04,480
A lot of people were so angry
and the bragging, etc,
1004
01:05:04,480 --> 01:05:06,160
it was just such a backstab.
1005
01:05:09,120 --> 01:05:11,240
He never struck me as that person,
so it seemed strange
1006
01:05:11,240 --> 01:05:15,080
that he'd then post some crazy
Instagram video
1007
01:05:15,080 --> 01:05:17,840
of him bragging
about how much money he made.
1008
01:05:17,840 --> 01:05:20,080
What did you think
when you saw that?
1009
01:05:20,080 --> 01:05:22,000
"What a cunt!"
1010
01:05:22,000 --> 01:05:23,880
That told me everything
that I need to know.
1011
01:05:23,880 --> 01:05:25,720
He was there to rip us off.
1012
01:05:25,720 --> 01:05:29,640
ELECTRONIC MUSIC PLAYS
1013
01:05:35,400 --> 01:05:39,200
With the Art Wars project
hanging by a thread,
1014
01:05:39,200 --> 01:05:41,560
all eyes are on Ben.
1015
01:05:43,400 --> 01:05:47,080
And the pressure
is beginning to show.
1016
01:05:59,840 --> 01:06:02,240
It was quite a wild couple of weeks.
1017
01:06:02,240 --> 01:06:04,720
Well, he seemed to be off his face
most of the time,
1018
01:06:04,720 --> 01:06:09,360
doing completely batshit
"ask me anything" things on Discord.
1019
01:06:09,360 --> 01:06:10,840
Absolute madness.
1020
01:06:12,120 --> 01:06:17,680
BEN SLURS: What has happened
is a digital crime, you know?
1021
01:06:17,680 --> 01:06:20,600
Or... Yeah, it's digital crime.
1022
01:06:20,600 --> 01:06:24,120
You know, it's like, er...
1023
01:06:24,120 --> 01:06:25,280
Wow!
1024
01:06:25,280 --> 01:06:29,640
It's like Art Wars
actually turns into art wars.
1025
01:06:29,640 --> 01:06:31,320
It was so upsetting.
1026
01:06:31,320 --> 01:06:33,000
You know, we're looking for answers.
1027
01:06:33,000 --> 01:06:35,760
There's people who have
invested a lot of money,
1028
01:06:35,760 --> 01:06:39,080
and the project
is clearly going downhill,
1029
01:06:39,080 --> 01:06:41,760
and there's big problems
that need to be solved.
1030
01:06:41,760 --> 01:06:43,240
And he's getting on,
1031
01:06:43,240 --> 01:06:46,200
talking about absolute nonsense
when he's drunk.
1032
01:06:46,200 --> 01:06:47,800
So I just thought...
Yeah, I just thought,
1033
01:06:47,800 --> 01:06:49,720
"He's a man unravelling,"
is what I actually thought.
1034
01:06:51,080 --> 01:06:54,960
BEN SLURS: How do you, like,
even quantify that shit?
1035
01:06:54,960 --> 01:06:56,160
And like...
1036
01:06:56,160 --> 01:07:01,240
Because I... The way I rolled was,
like, I was happy to have
1037
01:07:01,240 --> 01:07:04,320
loads of money or no money. Right.
1038
01:07:04,320 --> 01:07:09,560
I'm always happy, I always have...
Always have the equilibrium happy.
1039
01:07:10,760 --> 01:07:11,960
With either.
1040
01:07:11,960 --> 01:07:13,360
But you know what?
1041
01:07:13,360 --> 01:07:16,320
I just want to make it all good
for everyone...
1042
01:07:16,320 --> 01:07:19,480
I appreciate that. ..as I always do,
and I've always done that.
1043
01:07:19,480 --> 01:07:23,680
Yeah... I always make sure
that everyone comes out good,
1044
01:07:23,680 --> 01:07:26,800
and anything I'm attached to,
1045
01:07:26,800 --> 01:07:29,480
I want make sure
everyone come out good.
1046
01:07:37,720 --> 01:07:39,040
Oh, my God!
1047
01:07:40,160 --> 01:07:41,840
Oh!
1048
01:08:08,680 --> 01:08:12,000
DARTH VADER RESPIRATOR RASPS
1049
01:08:16,720 --> 01:08:19,040
INAUDIBLE
1050
01:08:27,360 --> 01:08:32,960
It was just coming up to Christmas,
and I'd received an email.
1051
01:08:33,960 --> 01:08:37,520
It was one of those emails
that, um, when you open it,
1052
01:08:37,520 --> 01:08:40,040
tells whoever sent it
that it's been opened.
1053
01:08:43,280 --> 01:08:45,440
Lawyers tend to use that.
1054
01:08:47,840 --> 01:08:49,600
"Dear Mr Moore,
1055
01:08:49,600 --> 01:08:54,800
"We represent Lucasfilm, which
owns the copyrights, trademarks
1056
01:08:54,800 --> 01:08:58,000
"and other rights in Star Wars
and its characters,
1057
01:08:58,000 --> 01:09:01,200
"including the Imperial stormtrooper
characters
1058
01:09:01,200 --> 01:09:03,600
"and their iconic helmets."
1059
01:09:03,600 --> 01:09:05,040
HE CLEARS HIS THROAT
1060
01:09:05,040 --> 01:09:10,080
"Your sale and dissemination
of so-called Art Wars' NFTs
1061
01:09:10,080 --> 01:09:12,400
"infringes Lucasfilm's rights,
1062
01:09:12,400 --> 01:09:16,200
"and it hereby demands
that you cease and desist
1063
01:09:16,200 --> 01:09:18,920
"from this unlawful conduct
immediately."
1064
01:09:31,240 --> 01:09:35,400
Disney and Lucas
just went up to OpenSea and...
1065
01:09:37,080 --> 01:09:38,920
..scared them.
1066
01:09:38,920 --> 01:09:40,320
It was ripped off.
1067
01:09:43,280 --> 01:09:44,720
Um, yeah.
1068
01:09:45,880 --> 01:09:48,680
It was, basically, like the end.
1069
01:09:52,320 --> 01:09:55,640
The whole project
was taken off of OpenSea.
1070
01:09:55,640 --> 01:09:58,640
And in the Discord, like,
there's just so much distrust
1071
01:09:58,640 --> 01:10:00,400
and upset and anger now,
1072
01:10:00,400 --> 01:10:04,920
because now the most major
trading platform for NFTs
1073
01:10:04,920 --> 01:10:06,920
is saying, "You can no longer
do business here."
1074
01:10:09,520 --> 01:10:12,120
With the collectors unable to trade,
1075
01:10:12,120 --> 01:10:15,520
their Art Wars NFTs
are now essentially...
1076
01:10:16,720 --> 01:10:18,280
..worthless.
1077
01:10:22,000 --> 01:10:25,520
I checked for myself,
and it just gave me an error
1078
01:10:25,520 --> 01:10:27,520
because the page
didn't exist any more.
1079
01:10:31,600 --> 01:10:34,240
There was just no way
to sell anything.
1080
01:10:34,240 --> 01:10:37,360
People were just trying to get out
as quickly as possible.
1081
01:10:37,360 --> 01:10:38,880
They were worthless.
1082
01:10:42,000 --> 01:10:44,680
I remember sending emails to OpenSea
1083
01:10:44,680 --> 01:10:48,240
in the hopes they would help me
or refund anything
1084
01:10:48,240 --> 01:10:51,680
but, of course, they mentioned
they couldn't do anything about it.
1085
01:10:51,680 --> 01:10:53,480
They don't owe you anything.
1086
01:10:53,480 --> 01:10:56,000
So I felt really helpless.
I felt, um...
1087
01:10:56,000 --> 01:10:58,560
Yeah, I lost a lot of money.
1088
01:11:02,800 --> 01:11:05,040
I didn't do my homework enough,
clearly.
1089
01:11:05,040 --> 01:11:08,000
I did not do enough due diligence.
1090
01:11:08,000 --> 01:11:11,840
But it's important to note, yes,
there is a gambling element to this,
1091
01:11:11,840 --> 01:11:14,680
but ultimately we were lied to.
1092
01:11:14,680 --> 01:11:18,520
We were lied to multiple times
in multiple different ways.
1093
01:11:19,800 --> 01:11:21,920
And they made informed decisions,
right?
1094
01:11:21,920 --> 01:11:25,320
They were being told,
"We have the rights to do this,"
1095
01:11:25,320 --> 01:11:28,040
so they based a decision...
1096
01:11:28,040 --> 01:11:29,440
..on what was lies.
1097
01:11:40,120 --> 01:11:44,520
To me, Ben is the responsible one.
1098
01:11:44,520 --> 01:11:46,000
He's the one to blame.
1099
01:11:54,200 --> 01:11:56,200
Now things have gone south...
1100
01:11:58,880 --> 01:12:01,320
..Ben's left alone in the spotlight.
1101
01:12:03,280 --> 01:12:07,160
His collaborators
remain hidden from view.
1102
01:12:08,920 --> 01:12:11,680
No-one knew about
the Crypto Brothers.
1103
01:12:11,680 --> 01:12:15,560
I didn't realise that everyone hides
behind these crypto names
1104
01:12:15,560 --> 01:12:18,760
and that...
they're completely untraceable.
1105
01:12:19,800 --> 01:12:24,920
It just looked like I was the...
the mastermind of the entire thing.
1106
01:12:24,920 --> 01:12:29,880
And so I was at the forefront
of everyone's anger.
1107
01:12:29,880 --> 01:12:32,680
And I suppose that did start
to become a bit of a shock
1108
01:12:32,680 --> 01:12:36,000
when you realise
just how exposed you are.
1109
01:12:41,320 --> 01:12:44,880
Many of the collectors are
tens of thousands out of pocket.
1110
01:12:46,040 --> 01:12:50,040
They're angry,
and some are desperate.
1111
01:12:50,040 --> 01:12:53,400
I did fear for Ben's safety
quite a few times.
1112
01:12:53,400 --> 01:12:56,680
You know, people had invested
probably more money
1113
01:12:56,680 --> 01:13:01,640
than they could afford in some NFTs,
and they took it personally.
1114
01:13:09,800 --> 01:13:14,080
With the NFT buyers,
there's over a thousand of them,
1115
01:13:14,080 --> 01:13:17,640
and you've got no idea
who some of these characters are.
1116
01:13:18,960 --> 01:13:20,320
It just went...
1117
01:13:20,320 --> 01:13:23,040
It was just that terrible feeling
of, like, "Oh, God!"
1118
01:13:24,480 --> 01:13:27,120
And then people start
coming over to the flat.
1119
01:13:29,560 --> 01:13:32,120
And, what, you've come
all the way down from Blackpool?
1120
01:13:38,560 --> 01:13:40,120
I get that. I get that.
1121
01:13:40,120 --> 01:13:42,160
Um, but I'm not the boss here.
1122
01:13:42,160 --> 01:13:44,840
I'm the front man which is getting
blamed for everything, yeah?
1123
01:13:47,480 --> 01:13:49,000
Who's that in the background?
1124
01:14:00,520 --> 01:14:02,520
I think he felt that there
were a lot of people after him.
1125
01:14:02,520 --> 01:14:04,040
There WERE a lot of people
after him.
1126
01:14:04,040 --> 01:14:06,360
I mean, it felt quite unsafe.
1127
01:14:08,480 --> 01:14:12,320
And I can understand why people
would have been really very angry.
1128
01:14:13,360 --> 01:14:15,120
I definitely think he was...
1129
01:14:15,120 --> 01:14:18,120
He'd hit a low point,
and a lot of regret
1130
01:14:18,120 --> 01:14:23,320
and a lot of realisation
that he'd really screwed it up.
1131
01:14:25,480 --> 01:14:27,560
There was a lot of eruptions
about it, you know,
1132
01:14:27,560 --> 01:14:30,520
and people talking about suing,
and people talking about
1133
01:14:30,520 --> 01:14:33,000
nailing him to the floor
and sawing his legs off.
1134
01:14:33,000 --> 01:14:34,520
You know, this idea was
1135
01:14:34,520 --> 01:14:36,520
that he had become
this multi-millionaire overnight.
1136
01:14:37,760 --> 01:14:39,880
How much money did Ben make?
1137
01:14:39,880 --> 01:14:41,520
I don't know.
1138
01:14:41,520 --> 01:14:43,480
Genuinely don't know.
1139
01:14:43,480 --> 01:14:46,040
Do you know how much money
he made, personally?
1140
01:14:47,680 --> 01:14:50,360
All I know is what he said
in the video,
1141
01:14:50,360 --> 01:14:51,960
and that's 2 million.
1142
01:14:51,960 --> 01:14:54,240
And he just ran away with it.
1143
01:14:54,240 --> 01:14:56,000
Initially it was 3 million,
1144
01:14:56,000 --> 01:14:58,560
then, three days later,
I was told it was 5 million.
1145
01:14:58,560 --> 01:15:01,840
I've heard all sorts of
wild amounts of money.
1146
01:15:01,840 --> 01:15:04,520
I heard rumours that he had
a new kitchen out of it.
1147
01:15:04,520 --> 01:15:05,640
HE SCOFFS
1148
01:15:05,640 --> 01:15:09,560
They made sales in excess
of 1,425 ETH.
1149
01:15:09,560 --> 01:15:12,840
That was about 6.5 million USD.
1150
01:15:12,840 --> 01:15:15,120
That was a huge amount of money.
1151
01:15:15,120 --> 01:15:16,240
Crazy. Do you know what I mean?
1152
01:15:16,240 --> 01:15:17,680
Like, you talk about it now,
you're like,
1153
01:15:17,680 --> 01:15:21,520
"Holy Moley! That's serious
retirement money," you know?
1154
01:15:21,520 --> 01:15:23,720
I don't know
what happened to that money.
1155
01:15:29,040 --> 01:15:36,720
They probably think that
I'm sauntering around in a silk robe
1156
01:15:36,720 --> 01:15:40,400
on some sandy island somewhere...
1157
01:15:40,400 --> 01:15:42,760
# G-L-A... #
1158
01:15:42,760 --> 01:15:47,680
..that I'm hanging out on a yacht
with lots of beautiful people...
1159
01:15:47,680 --> 01:15:50,000
# Flying first class... #
1160
01:15:50,000 --> 01:15:52,320
..going out to really
nice restaurants
1161
01:15:52,320 --> 01:15:55,520
and having three-course meals.
1162
01:15:57,160 --> 01:15:59,920
Jumping on a private jet.
1163
01:15:59,920 --> 01:16:02,520
# Ooh, the flossy, flossy
Are you ready?
1164
01:16:02,520 --> 01:16:04,040
# The glamorous
1165
01:16:04,040 --> 01:16:05,720
# The glamorous, glamorous... #
1166
01:16:05,720 --> 01:16:07,080
Yeah.
1167
01:16:07,080 --> 01:16:09,320
RECORD SCRATCH
1168
01:16:07,080 --> 01:16:09,320
All of that!
1169
01:16:11,120 --> 01:16:14,600
I don't mind them thinking that
because I'd rather people think
1170
01:16:14,600 --> 01:16:17,280
that I'm rich
than knowing that I'm poor.
1171
01:16:19,360 --> 01:16:22,200
There have been fresh shock waves
sent through the crypto markets
1172
01:16:22,200 --> 01:16:26,760
after the leading cryptocurrency,
Bitcoin, fell below $20,000
1173
01:16:26,760 --> 01:16:29,120
to its weakest price in 18 months.
1174
01:16:29,120 --> 01:16:31,120
Cryptocurrencies are
all feeling the pinch,
1175
01:16:31,120 --> 01:16:34,800
with one unfortunate
losing 99% of its value this week.
1176
01:16:40,320 --> 01:16:42,040
It's May 2022.
1177
01:16:43,000 --> 01:16:45,760
Ben's holding the remaining
proportion of his share
1178
01:16:45,760 --> 01:16:50,600
of the sale proceeds
in the cryptocurrency USDT.
1179
01:16:51,920 --> 01:16:54,880
REPORTER: Crypto values have slumped
in the past few hours.
1180
01:16:54,880 --> 01:16:58,480
Investors now face billions
of dollars in losses.
1181
01:16:59,880 --> 01:17:03,360
One morning, I woke up,
1182
01:17:03,360 --> 01:17:05,520
and I'd lost half of it.
1183
01:17:07,160 --> 01:17:09,160
That just left me on a losing foot
1184
01:17:09,160 --> 01:17:12,080
because I owed
more than what I had left.
1185
01:17:13,080 --> 01:17:16,440
115,824.
1186
01:17:17,600 --> 01:17:20,640
And they have
attached correspondence,
1187
01:17:20,640 --> 01:17:23,160
saying that I owe a further 25,000.
1188
01:17:24,160 --> 01:17:27,080
Ben's also been dealing
with the legal issues
1189
01:17:27,080 --> 01:17:32,240
resulting from the sale,
both with the artists and Lucasfilm.
1190
01:17:32,240 --> 01:17:35,160
So these, these are the US lawyers.
1191
01:17:35,160 --> 01:17:40,560
They responded to a one-page letter
from Lucasfilm and Disney,
1192
01:17:40,560 --> 01:17:46,240
and then this bill here
goes to 42,551.
1193
01:17:47,440 --> 01:17:49,240
Fuck them!
1194
01:17:49,240 --> 01:17:54,120
In total, he's spent
over £500,000 on lawyers.
1195
01:17:54,120 --> 01:17:59,280
All these things
are just pushing me into bankruptcy.
1196
01:18:01,640 --> 01:18:04,920
I am just basically unable
to pay them.
1197
01:18:05,880 --> 01:18:09,960
Cos you've literally got nothing
right now, right? Nothing. Yeah.
1198
01:18:09,960 --> 01:18:13,160
I mean, at the moment I can't even
buy a drink at the pub.
1199
01:18:15,200 --> 01:18:16,720
I just feel...
1200
01:18:18,560 --> 01:18:20,920
..gutted, on so many levels.
1201
01:18:23,320 --> 01:18:24,920
People do fuck up...
1202
01:18:25,960 --> 01:18:27,440
..and I have.
1203
01:18:27,440 --> 01:18:28,880
So...
1204
01:18:31,200 --> 01:18:32,880
..that's where I'm at.
1205
01:18:35,840 --> 01:18:38,280
He really hasn't got any money.
1206
01:18:38,280 --> 01:18:41,760
Ben does live in a council flat
in Richmond,
1207
01:18:41,760 --> 01:18:44,720
and he's not actually living
in a beautiful house in France,
1208
01:18:44,720 --> 01:18:46,440
and he hasn't got, you know,
lots of cars.
1209
01:18:46,440 --> 01:18:51,240
And he's literally, you know,
stone broke.
1210
01:18:54,440 --> 01:18:57,600
I've got to sacrifice my baby.
1211
01:18:58,880 --> 01:19:00,160
KEYS RATTLE
1212
01:19:03,880 --> 01:19:05,600
There you go, buddy.
1213
01:19:05,600 --> 01:19:07,160
# Ta-dah! #
Nice.
1214
01:19:10,800 --> 01:19:13,080
13,359.
1215
01:19:13,080 --> 01:19:16,560
Um... What, and you can do it
right now?
1216
01:19:16,560 --> 01:19:18,080
The money will come tomorrow.
1217
01:19:22,960 --> 01:19:25,280
He really hasn't benefited at all.
1218
01:19:27,600 --> 01:19:30,560
I think he realised,
almost instantaneously,
1219
01:19:30,560 --> 01:19:32,360
that any money
he'd made on that night
1220
01:19:32,360 --> 01:19:35,440
was certainly not going to be his
for very long.
1221
01:19:35,440 --> 01:19:39,600
I think it was a very short-lived
moment of happiness for him.
1222
01:19:41,440 --> 01:19:46,440
Ever since the NFT debacle,
I haven't really done...
1223
01:19:47,800 --> 01:19:49,320
..anything.
1224
01:19:49,320 --> 01:19:51,920
I think all I've worked on or done
1225
01:19:51,920 --> 01:19:53,720
is just trying to clear up
all the mess
1226
01:19:53,720 --> 01:19:55,760
that the NFT thing has left behind.
1227
01:20:00,680 --> 01:20:06,960
We were very surprised
at how self-destructive
1228
01:20:06,960 --> 01:20:09,680
this was for him.
1229
01:20:09,680 --> 01:20:12,160
He'd spent so much time
building up these relationships
1230
01:20:12,160 --> 01:20:18,240
with these artists, and then, in one
fell stroke, he just destroyed it.
1231
01:20:18,240 --> 01:20:21,280
It's a small world.
Word spreads real quick.
1232
01:20:21,280 --> 01:20:23,960
Um, you know,
and you burn those people once,
1233
01:20:23,960 --> 01:20:26,840
it's very hard for them
to...to come back with open arms.
1234
01:20:26,840 --> 01:20:28,040
You know, your reputation -
1235
01:20:28,040 --> 01:20:30,200
you might spend years
building your reputation.
1236
01:20:30,200 --> 01:20:34,320
And, as in Ben's case, you can
lose it like that, in a snap.
1237
01:20:34,320 --> 01:20:37,960
And that's what he's done. He's
completely knackered his reputation.
1238
01:20:39,000 --> 01:20:40,520
Probably irretrievably.
1239
01:20:42,840 --> 01:20:47,240
I know, for me, it took
a big toll on my mental health.
1240
01:20:47,240 --> 01:20:51,600
I wasn't a part of what happened.
Like, I was duped, too.
1241
01:20:51,600 --> 01:20:53,840
I never made any money from that.
1242
01:20:53,840 --> 01:20:56,920
We were all screwed in this process,
the artists and the collectors.
1243
01:20:58,320 --> 01:21:02,720
It's a scam, and people don't want
to be involved with scammers.
1244
01:21:04,240 --> 01:21:07,120
If you're being completely honest,
was this a scam?
1245
01:21:09,000 --> 01:21:12,280
That wasn't my intention. It was
not my intention to do a scam.
1246
01:21:12,280 --> 01:21:19,240
I just thought if we make sure
that there is money
1247
01:21:19,240 --> 01:21:22,440
set aside for these artists...
1248
01:21:22,440 --> 01:21:25,600
My philosophy is
get to where the money is,
1249
01:21:25,600 --> 01:21:27,920
and then sort out the problems,
1250
01:21:27,920 --> 01:21:30,240
rather than
trying to sort it out before,
1251
01:21:30,240 --> 01:21:31,600
which could create more problems
1252
01:21:31,600 --> 01:21:34,480
and stop the whole thing
from happening at all.
1253
01:21:34,480 --> 01:21:37,400
It could still be generating
money even today
1254
01:21:37,400 --> 01:21:39,360
if it had been done differently.
1255
01:21:40,960 --> 01:21:44,080
If everything
would have continued until now,
1256
01:21:44,080 --> 01:21:46,560
it would have been
one of the most successful projects
1257
01:21:46,560 --> 01:21:50,440
that, er...
ever existed in the NFT space.
1258
01:21:50,440 --> 01:21:52,840
Maybe never have to work again
in your life.
1259
01:21:52,840 --> 01:21:54,200
Life-changing.
1260
01:22:01,200 --> 01:22:05,000
REPORTER: Trading in NFTs, or
non-fungible tokens, has collapsed.
1261
01:22:08,080 --> 01:22:13,200
For everyone in the world
of NFTs in 2021 and 2022,
1262
01:22:13,200 --> 01:22:16,480
dreams of a glorious future
were short-lived.
1263
01:22:16,480 --> 01:22:18,120
I feel like this was inevitable.
1264
01:22:18,120 --> 01:22:20,760
Yeah. I never got on board with it.
I never understood why people
1265
01:22:20,760 --> 01:22:23,160
were paying tens of millions
of dollars for something
1266
01:22:23,160 --> 01:22:26,960
that they don't actually own
the physical picture of.
1267
01:22:26,960 --> 01:22:31,320
Since the rapid decline
in NFT trading in 2022,
1268
01:22:31,320 --> 01:22:33,760
the market has not really recovered,
1269
01:22:33,760 --> 01:22:38,160
and, at the end of 2023,
it is estimated
1270
01:22:38,160 --> 01:22:43,160
that over 90% of NFTs
ever issued are worthless.
1271
01:22:43,160 --> 01:22:46,560
The thing about that moment in time,
it was a perfect storm.
1272
01:22:48,520 --> 01:22:51,040
Unfortunately,
the hype was so quick,
1273
01:22:51,040 --> 01:22:53,000
and there was so much speculation
1274
01:22:53,000 --> 01:22:57,080
that it could only, inevitably,
crash or plateau.
1275
01:22:57,080 --> 01:23:02,720
My experience of NFTs has proven
that they are very much gimmicky,
1276
01:23:02,720 --> 01:23:05,640
flash in the pan, a quick buck,
1277
01:23:05,640 --> 01:23:09,640
and I don't think NFTs
have any great merit or future.
1278
01:23:15,320 --> 01:23:19,200
During the NFT craze,
I was really hopeful.
1279
01:23:19,200 --> 01:23:20,720
That was an exciting time.
1280
01:23:20,720 --> 01:23:23,240
I don't know where that lands
for the future.
1281
01:23:23,240 --> 01:23:26,600
We're in a little bit of a crypto
and NFT winter right now,
1282
01:23:26,600 --> 01:23:31,720
but there are still really quality
artists and projects out there.
1283
01:23:31,720 --> 01:23:33,920
Many people will look at NFTs
and laugh at them and say,
1284
01:23:33,920 --> 01:23:35,120
"How is this valuable?"
1285
01:23:35,120 --> 01:23:37,760
But they don't understand that
this young generation coming in
1286
01:23:37,760 --> 01:23:40,000
have different ideas
of what value means.
1287
01:23:42,760 --> 01:23:44,640
We're constantly
attracted towards things
1288
01:23:44,640 --> 01:23:46,800
which cooperates
with our sense of desire.
1289
01:23:47,760 --> 01:23:50,840
NFTs are a kind of financial
attractors, as is any work of art,
1290
01:23:50,840 --> 01:23:54,720
as is any capitalistic object,
as any object,
1291
01:23:54,720 --> 01:23:57,160
unless it's a rock in a desert.
1292
01:23:58,880 --> 01:24:01,400
Unless it's an NFT
of a rock in the desert!
1293
01:24:03,880 --> 01:24:05,720
The problem, unfortunately,
did set us back
1294
01:24:05,720 --> 01:24:07,040
because it created this impression
1295
01:24:07,040 --> 01:24:11,160
that NFTs were only these big,
expensive, highly scammy projects.
1296
01:24:12,400 --> 01:24:15,240
But every time you go into these
markets and there's a boom and bust,
1297
01:24:15,240 --> 01:24:18,040
three or four years later, the same
people who participated then,
1298
01:24:18,040 --> 01:24:20,560
they come back because
they're not scared of it,
1299
01:24:20,560 --> 01:24:22,640
and they're like, "Oh, there's
another opportunity here.
1300
01:24:22,640 --> 01:24:24,400
"I understand this."
1301
01:24:24,400 --> 01:24:26,320
I'm not saying
it'll be a boom like before,
1302
01:24:26,320 --> 01:24:28,880
but they won't be afraid
of using NFTs.
1303
01:24:28,880 --> 01:24:31,280
I'm sure people in years to come
will be looking back at this
1304
01:24:31,280 --> 01:24:35,640
and laughing, because
we were just at the...the beginning
1305
01:24:35,640 --> 01:24:37,360
of something very huge.
1306
01:24:44,200 --> 01:24:46,600
What is the plan?
1307
01:24:46,600 --> 01:24:51,160
Well, I've got a lot of stuff to do
with my accountants,
1308
01:24:51,160 --> 01:24:54,080
tax, various different people
that I owe money to
1309
01:24:54,080 --> 01:24:57,720
that I'm having to constantly
negotiate with and calm down.
1310
01:24:57,720 --> 01:25:00,080
Just the usual day-to-day stuff.
1311
01:25:02,000 --> 01:25:04,920
Do you feel fearful about the future
in the art world?
1312
01:25:04,920 --> 01:25:07,360
Um, no, not at all.
1313
01:25:08,360 --> 01:25:09,800
There's nothing to be fearful about.
1314
01:25:09,800 --> 01:25:12,200
It's just work.
1315
01:25:09,800 --> 01:25:12,200
HE LAUGHS
1316
01:25:12,200 --> 01:25:14,400
I'm going to just quickly
smoke this.
1317
01:25:19,720 --> 01:25:24,280
I'm sort of torn
between utter, abject fear...
1318
01:25:24,280 --> 01:25:26,600
..um, and also a kind of feeling
1319
01:25:26,600 --> 01:25:29,480
that Ben is like
a cat with nine lives,
1320
01:25:29,480 --> 01:25:33,720
and he really is one of these people
that just seems to bob back.
1321
01:25:37,160 --> 01:25:38,360
My take on it...
1322
01:25:39,360 --> 01:25:42,000
..is that Ben got swept up in it.
1323
01:25:43,000 --> 01:25:44,960
I'd give him the benefit
of the doubt and say it was,
1324
01:25:44,960 --> 01:25:48,640
a lot of it was just weakness and
getting played...played, really.
1325
01:25:49,880 --> 01:25:52,520
But then also
a bit of greed thrown in, yeah.
1326
01:25:56,720 --> 01:26:00,600
I think that he should be cancelled
1327
01:26:00,600 --> 01:26:07,240
because, fundamentally,
he has betrayed everybody.
1328
01:26:09,560 --> 01:26:14,200
I'd really like Ben Moore
to stop working in the art world...
1329
01:26:15,200 --> 01:26:16,800
..cos I think he's a crook.
1330
01:26:20,840 --> 01:26:24,680
I think that he's fallen into
some kind of digital abyss
1331
01:26:24,680 --> 01:26:26,760
that he didn't really reckon with.
1332
01:26:26,760 --> 01:26:29,240
And I think he just thought that
because he saw all these artists
1333
01:26:29,240 --> 01:26:32,600
as being hugely successful and rich,
that no-one would really care.
1334
01:26:32,600 --> 01:26:34,040
I think he just got caught.
1335
01:26:37,720 --> 01:26:41,480
Everyone makes mistakes.
Life's not perfect, you know?
1336
01:26:41,480 --> 01:26:43,320
Shit happens.
1337
01:26:43,320 --> 01:26:45,040
Some bad calls are made.
1338
01:26:46,160 --> 01:26:48,800
This was clearly
one of his worst calls.
1339
01:26:50,400 --> 01:26:53,400
I'd like to think that everyone
deserves a second chance.
1340
01:27:10,720 --> 01:27:14,440
I guess I would say, yeah,
I am sorry that this has happened,
1341
01:27:14,440 --> 01:27:17,440
that it happened the way it did.
1342
01:27:17,440 --> 01:27:19,600
Um...
1343
01:27:19,600 --> 01:27:20,880
And, er...
1344
01:27:25,120 --> 01:27:26,840
Yeah, I would say that.
1345
01:27:28,920 --> 01:27:31,760
Um...but by saying that,
it sounds like
1346
01:27:31,760 --> 01:27:34,680
I would say that I wouldn't do it.
I have done it.
1347
01:27:34,680 --> 01:27:37,880
I would have still done it,
but I am sorry about it.
1348
01:27:37,880 --> 01:27:39,360
HE CHUCKLES
1349
01:27:39,360 --> 01:27:42,640
Um, but when I was saying I'm sorry,
1350
01:27:42,640 --> 01:27:46,360
it's not saying I regret doing it,
cos I don't want to say that.
1351
01:27:46,360 --> 01:27:49,120
I want to say I would have still
done it. I would have still done it,
1352
01:27:49,120 --> 01:27:51,080
but I'm sorry
if it's pissed you off.
1353
01:27:52,880 --> 01:27:54,440
That's how I would say it.
1354
01:27:54,440 --> 01:27:56,920
But I'm not going to say
I wish I hadn't done it,
1355
01:27:56,920 --> 01:27:58,440
cos that's...that's not true.
1356
01:27:59,560 --> 01:28:01,000
So it's a weird one.
175504
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