Digital art, NFTs, metaverse and millennial audiences.
A new era in digital art: how Chinese emerging artists are evolving with NFTs
NFT has recently become a buzzword in the media and arts industries, with some iconic examples redefining the format, collection, provenance and rights of art. In the meantime, debates and discussions have arisen around this topic, with some referring to NFT art as the 'emperor's new clothes' – real money exchanged for an invisible and intangible code, while others claim that NFT art's key attributes of being indivisible, irreplaceable, and unique enable better protection of creator rights, and ultimately foster a healthy artistic ecosystem.
It can be argued that this new cultural and artistic phenomenon needs to be observed more in-depth, particularly the real-world effects on artists. Hence, this dissertation examines the development of NFTs in China and abroad, looking into the strengths and challenges of NFTs with regard to identification, authentication and collection, and discussing the impact of NFTs on the overall Chinese art market and artists.
Based on the agenda above, this thesis aims to contribute to knowledge about NFTs in China at the present time and provide young artists with industry information and recommended paths to navigate an art world changed by the blockchain technology boom.