Istanbul Gelisim Vocational School: Monthly E-Bulletin (Vol. 3, Issue 11, November 2023)

Abstract

DIGITALIZATION OF ART Throughout the ages, art has been used as one of the forms of self-expression of humanity. The concept of art, which is always expected to be present in the physical world by an artist, whether visual or auditory, is undergoing a radical change thanks to the technological developments in our age. First of all, NFTs, or Non-Fungible Tokens, are digital assets created using cryptocurrencies and blockchain technology, and are a concept that completely removes the need for art to be physical. NFTs allow artists to have more control over royalties and income generation, and the right to have a continuous income through traded works. It should be emphasized here that the ownership of the NFTs being traded also changes hands, meaning that the existing rights are transferred to the buyer. Art is therefore digitally commercialized by being recorded on the blockchain, based on the principle of documenting the authenticity and ownership of the work. This situation has created a new buying and selling environment outside of traditional art galleries and auctions by bringing artists' works directly to buyers.