How Non-Fungible Tokens (NFTs) Are Transforming the Art World
By Planner Bee  •  July 18, 2023
The art world has long been known for its exclusivity and traditional structures — usually governed by galleries, auctions, and exclusive circles of collectors. However, a new and revolutionary technology has emerged, bringing with it waves of disruption and democratisation. Non-fungible tokens (NFTs) have opened up exciting possibilities for artists, collectors, and art enthusiasts. In this article, we delve into the multifaceted impact of NFTs on the art world. So, what exactly are NFTs? Non-fungible tokens (NFTs) are digital assets that are unique and cannot be replaced. They are stored on a blockchain, which is a secure and transparent ledger. NFTs have been gaining popularity, and people have started to use them to represent things like art, music, and collectibles. Read more: Should You Be Invested in NFTs? Given that NFTs are capable of marrying art and technology, it’s not surprising to see them have transformative effects on the art world, specifically in authentication, access, value, collectability, and innovation....
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By Planner Bee
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