Who would buy a hundredth of a Picasso? How can DAOs impact the future of the art market? The Spring 2022 Artnet Intelligence Report, available exclusively to Artnet News Pro subscribers, answers these burning questions—and dozens more:
Allow us to let you in on a secret. When we began planning the fall 2021 edition of the Artnet Intelligence Report about a year ago, we asked ourselves whether we should include an article on NFTs. “Who knows if NFTs will even be relevant in a few months?” one of our team members said. “The topic is moving and changing so quickly,” another replied.
Beyond the astronomical prices, however, we’re interested in the concepts underpinning the world’s NFT obsession: how flipping is part of the culture, how ownership does not require physical possession, and how new audiences are invited into the fold. These tenets may have a more fundamental impact on the art business—for good or for ill—than any amount of money generated from NFT sales.
So what happens when a Banksy becomes an NFT that is collectively owned by thousands of people? And how would the art market change if such a thing were to become commonplace?
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