The proliferation of art galleries and museums in the last few decades changed the world of art substantially. In the earlier years, artists were dependent on fairs and a few patrons to showcase their work and earn livelihood.
Another revolution is in the making. Powered by blockchain technology, it builds a new system where all stakeholders, from artists to investors and art consumers, have their fair share.
Disruptive technologies like blockchain have unlocked the limited options of the classical art world, optimizing art consumption while introducing transparency and automation. This brings in tangible improvement in the experience of the stakeholders, enriching the industry as a whole. Regardless of how many hands an artwork has passed through, it can be traced back to the original artist, which brings in an unprecedented level of authenticity.
Decentralized organizations like Art Can Die have demonstrated how a decentralized ecosystem can transform the art world. Ingenuity of a blockchain-based ecosystem creates a modern and efficient way for all stakeholders to participate in the art world. Artists are able to showcase their work to global audiences with ease and enjoy greater opportunities without having to devote their time to marketing, thus enhancing the quality and quantity of their work.
This blockchain-induced revolution has created an optimized ecosystem for all stakeholders — artists are funded, art collectors access a transparent and secure market, and global audiences experience timeless art.
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Written by Dilip Kumar Patairya