Digital Culture & AudioVisual Challenges

In the world of contemporary art, issues such as ownership, authenticity and value have come to the fore, especially after its transformation into an increasingly digital form. Non-Fungible Tokens (NFTs) have dynamically entered this landscape. They are based on blockchain technology and have essentially paved the way for new ways of exchanging and certifying digital works of art, without the need for central intermediaries [1]. NFTs are unique digital tokens that solve long-standing problems around the ownership and provenance of art on the internet, offering true traceability and uniqueness in a digital environment [2].

This paper focuses on the role of NFTs in art transactions in the modern, digital era. It is not concerned with the acceptance and success of NFTs in the market, but with how they change the terms of the game on a theoretical and practical level. The study draws on theoretical analysis and a review of the existing literature on NFTs, blockchain, and digital art markets [3,4]. In this light, it examines how NFTs disrupt traditional property models, what role they play in the relationships between artists and collectors, and how they fit and mesh with existing art market structures [5].

By placing NFTs within the broader context of digital culture and contemporary art, this literature review attempts to critically illuminate how art transactions change when NFTs come into play. It does not present NFTs as the only future, but sees them as a technological phenomenon that raises important questions about value, authenticity, and ownership in digital art practices [6].