NFTs and the future of the art world
The digital space has not only enabled claims to online avatars or alter-egos, it has also ushered in new forms of digital ownership. The explosion of the online marketplace is changing the ways in which art is created, perceived, and owned. If post-internet art propelled artworks into immateriality, Cryptoart, which uses blockchain technology, is creating a new generation of art collectors. Sales of Cryptoart have leaped from over $416,000 in June 2020 to $616 million in the past year, based on data from cryptoart.io.