School of Creative
Industries
BA(Hons) Arts Management
The rise of NFTs and the impact on artists and galleries in Singapore
The COVID-19 pandemic has accelerated the rise of Non-Fungible Tokens (NFTs) as it increased the demand for digital art, collectibles and alternative investment opportunities. As a result of the pandemic, the world was forced to become more digital. NFTs therefore played an increasingly crucial role in the art market.
NFTs provide artists and art galleries with another avenue to sell their works through a method that safeguards the legitimacy and ownership of their work, ensuring buyers a safe, trusted means to acquire one-of-a-kind works of art. Given its rise, more research is needed to better understand the impact NFTs have on Singapore's art market and how key players in the field are responding to it.
non-fungible tokens, NFTs, local art market, art galleries, artists, blockchain technology
NFTs as an artform artists and art galleries perspectives, value of art, social media
Loh Xue Ning Renee
Renee is graduating with a BA(Hons) Arts Management from LASALLE College of the Arts. Her interests lie in contemporary art, as well as gallery and curatorial management.
During her course of studies, Renee interned at Cuturi Gallery, where she honed her writing and communication skills. She was given the opportunity to write exhibition text that was also featured in the gallery’s catalogues and websites. Prior to her role at Cuturi Gallery, Renee gained experience interning at the Institute of Contemporary Arts Singapore (ICAS) assisting with social media where she drafted reviews and posts for recent and current exhibitions.