What is it about?
The paper discusses how the buying and selling of art and cultural artefacts will change substantially during the 21st century, due to changes in internet technology. DAOs (decentralised autonomous organisations) and NFTs (non-fungible tokens), will help in the acquisition of art for commercial and not for profit purposes.
Featured Image
Photo by Zach Key on Unsplash
Why is it important?
The art world, DAOs and NFTs have been interacting since the start of the 21st century the year 2000. There is an existential threat that art collections or rare collectibles could be devalued, and/or the cryptocurrency used to purchase the art is derecognised by the global community after the sale has been finalised. This is a huge potential threat hanging over the art world of which it is forseable, this will surely come to pass.
Perspectives
DAOs and NFTs are to my mind unstable in the extreme. They present a huge potential threat to the art world, of which it is forseeable, there will be some form of art market correction, devaluation crash.
Dr Benjamin Duke
University of Leicester
Read the Original
This page is a summary of: The Shape of International Art Purchasing—The Shape of Things to Come, Arts, September 2023, MDPI AG,
DOI: 10.3390/arts12050208.
You can read the full text:
Contributors
The following have contributed to this page
