Exploring the Fusion of Technology and Art: Unveiling the Historical Landscape of Art NFTs in Technology and Engineering Management

This quantitative study investigates how digitalization, notably NFT technology, has changed the art industry. Analyzed is the theoretical framework that addresses art, the market, and important ideas like blockchain, cryptocurrencies, and cryptographic art. 204 academic publications were chosen for...

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Bibliographic Details
Published in2023 IEEE Colombian Caribbean Conference (C3) pp. 1 - 5
Main Authors Diaz, Marliz Acela Velazquez, Villaverde, Diana Barron, Mendoza, Paul Sanmartin, Bello, Jonathan David Aguirre
Format Conference Proceeding
LanguageEnglish
Published IEEE 22.11.2023
Subjects
Art Digitization
Cryptoart and NFTs
Fluctuations
Industries
Market Evolution
Quantitative Analysis
Resilience
Reviews
Social sciences
Technology and Art
Trajectory
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Summary:This quantitative study investigates how digitalization, notably NFT technology, has changed the art industry. Analyzed is the theoretical framework that addresses art, the market, and important ideas like blockchain, cryptocurrencies, and cryptographic art. 204 academic publications were chosen for study from a search of documents relating to "NFT+Art" using the methodology's non-experimental approach. The findings, which contrast the sales of worldwide works of art with those of NFTs, imply that NFTs have the potential to produce economic spillovers equivalent to those of the market for tangible works of art, albeit with a potential reduction in the future. Given the growth of scholarly research in 2022, the report emphasizes the necessity of additional investigation on this subject. The NFT market is showing symptoms of declining user enthusiasm, but secondary sales and collection are increasing. Additionally, it is noted that studies focusing on keywords associated with the subject are pertinent, with the majority of collaborations taking place in Europe, followed by a small number in Oceania and a few in Asia. This study sheds light on how NFTs are influencing the art industry and emphasizes the ongoing need for multidisciplinary research in this constantly developing area.
DOI:10.1109/C358072.2023.10436222