Blockchain and art (Part 3)
This is the final part of this topic of blockchain and art. I would like to share some more topics that are covered with this blockchain technology for the preservation of the rights of creative artists and writers.
Transparency is the main advantage of blockchain technology. The blockchain ledger's transparency helps eliminate fraudulent practices in the art world. Buyers can verify the authenticity and provenance of artworks instantly when it is under the blockchain network. So there will be no risk of purchasing from the stolen pieces of art product. The decentralized nature of blockchain means that there is no single point of control. The art market is controlled by the intermediate who are the middlemen between the buyers and sellers. Sometimes they manipulate this market according to their will. The transparency of blockchain is reducing the potential for manipulation and fraud by art market intermediaries, such as galleries or auction houses.
Blockchain has catalyzed the rise of digital art and the concept of NFTs. Non-fungible tokens are unique digital assets representing ownership or proof of authenticity of a digital artwork. Digital artists can now create and sell unique digital pieces as NFTs. Creative expression and monetization have got a new dimension with the invention of this innovative non-fungible token. NFTs have garnered significant attention and investment in recent years. They have provided a way for digital artists to establish ownership. Digital artwork will now be secured and out of the problem of piracy and manipulated selling. Digital artists can now sell their works directly to collectors. In this way not only the middleman is eliminated but also the true owner of any earthwork is established.
Blockchain is strongly disrupting the status quo of exclusivity, intermediaries, and opacity by creating a more transparent, efficient, and accessible art market. Collectors and artists can interact directly. This technology is helping to enter the global art marketplaces that operate 24/7. This global reach has the potential to expand the horizons of the art world and promote cross-cultural exchange.
~ Regards,
VEIGO (Community Mod)
Really your post is great