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10 September 2021
Do Art Dealers care more about money than being a part of the art world?
As a part of my gold arts award I have chosen to research the question 'Do art dealers care more about money than being apart of the art world?'.
Comment posted on 21 July 2022
I believe that non fungible tokens are a great way for both growing artists and established artists to maintain the ownership of their work, whilst offering the NFT to buyers and investors. In this way, the necessity for art dealers diminishes because the artist can appeal straight to the buyer. Additionally, blockchain technology maintains the artist's control on fees and their own I.P. Whilst artists average a 5- 10% royalty, NFT's are brilliant for artists to limit the copying and reselling of their artwork illegitimately, preventing countless variations of the same image. This is done by the Digital file (eg.jpeg) being reduced to tokens, preventing fraud.
However, NFT'S still come with their issues. Any technological platform is vulnerable to scams and fallacious pieces of artwork. To deal with this I can only advise users to be careful when buying or investing money into anything online.
Finally, although NFT's benefit artists in many ways, I personally am concerned for the future of physical galleries due to the fast pace of the digital era. Thereby leaving the questions, will galleries be left in the dust? And how can we integrate the digital era into our galleries?