Rise or Fall: NFTs, Artworks, and the Future of Decentralisation in the Art Market

  • Frida Akinay

At the fifth Arts & Cultural Management Conference I got invited as a Speaker to present the research I covered in my postgraduate dissertation concerned with NFTs, Art, and the Metaverse. I showed in my presentation that contrast and opposition are inherent to NFTs and that their distribution and access are trapped between scarcity and abundance. As collectables they can have a democratising effect, at least for certain groups of people, creating an environment where more and diverse voices can be heard. At the same time, considering the developments in Blockchain regarding institutions that are moving into the Metaverse and function as middlemen, the art market we know might take over the digital art market and contradict the idea of decentralisation.