DOHA – If you are a collector of unique art and are concerned about originality and intellectual property rights, the (NFT) token guarantees you the purchase of an original, encrypted copy from the designer of the painting, the author of the novel, or the photographer.
And if you are a fan of quick earners, during the first five months of 2021, NFT- certified digital coins generated nearly $2.5 billion. If you are an environmental lover, a small investor, or live in a remote country, sites such as Open Sea and Nifty Gateway offer you the opportunity to purchase art pieces in JPG without leaving your seat. . Read also During his speech at the opening session, Sheikh Tamim confirms that the Qatar Economic Forum marks the beginning of the post-Corona era The launch of the activities of the Qatar Economic Forum via video communication technology I participated in the opening of the Qatar Economic Forum.. Get to know Qatar Philharmonic Orchestra Qatar Economic Forum discusses the reality of digital currencies in the world and its future
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The session revolved around the CEOs of two generations of pioneers and emerging companies in the global art market, such as the British company Christie’s, Frieze for alternative art, Art Basel, and Terra Culture. (Terrakulture) Nigerian Arts and Culture, to discuss the digital art market, in the latest manifestation of the rising passion for NFT technology
Generational struggle over what art is
NFT technology or “non-fungible token” has been around for a few years, but it has jumped into the spotlight in recent months following several high-profile efforts to leverage it to protect intellectual property, support ecological balance, and popularize artwork. These tokens offer digital assets that can be bought, sold and exchanged, and some may liken them to cryptocurrencies, but they carry a variety of artistic and cultural materials.
The discussion in the “Art in the Age of Technology” session began by prioritizing workers in the art market after the end of the “Covid-19” crisis, between the importance of the return of art exhibitions after a break over the past year, in contrast to the need to invest in the digital art market (NFT), which witnessed activity throughout In the last 18 months, art galleries have not achieved it in 10 years.
The attendees agreed on the art market split since museums and art galleries displayed their holdings in digital form, for internet pioneers to browse through, and we have two industries running in parallel, one of which is limited to a very small group of the wealthy of the first world and lovers of luxurious oil paintings, while the second serves millions around the world who They would not have been able to visit a museum before today, and would rather invest in video, tweets, and graphic work.
Nigerian Polanli Austin Peters, founder and CEO of Terra Calcher, belongs to the second band’s supporters, and sees interest in digital art as a respect for millennials and their desire to live in their virtual reality, so she advocated for young independent artists in Nigeria who do not have the simple tools to set up art exhibitions on the ground In reality, they used to collect their paintings under their beds, but the past year was an artistic revolution for them, so they held virtual art exhibitions, and they became an audience of collectors, investors from the new millennium, and connoisseurs of independent art.
Polanelli believes that the rich class attack on NFT technology is a selfish art monopoly for centuries because it has become the way artists support the global ecosystem, build and maintain a global and human art scene outside the borders of countries, and because it enables art curators to extend networks between An audience that spreads across the continents of the world and is not just confined to the residents of luxurious palaces.
The value of art between entertainment and investment
In turn, Noah Horowitz, director of Art Basel, denied the idea that continuing to sell digital art pieces would cancel the basic goals of the artwork, and the value of acquiring a painting, but it became necessary to accommodate the different goals of acquiring a work of art, some love art, and some like to guarantee ownership. Intellectual, while others seek investment, something that neither shames digital artists nor their audience.
Noah added that digital art copies will not give an opportunity for illegal traders to enter the art market, especially since forgery and seizures take place in the most luxurious exhibitions and art museums, while NFT technology grants ownership certificates that cannot be breached or copied, and is designed according to “Block Chain” technology. Blockchain is used to encrypt digital currencies such as Bitcoin.
He believes that the emerging companies have achieved great fame, as the companies “Art Basel” and “Freeze” became the most famous art organizations after they established virtual art exhibitions and introduced the idea of ”download seasons” to the art market, and they did not lose the public’s trust, but rather their number increased exponentially. Art targets 5% of the world’s population, 95% have joined it, and billions are now finding their way to online shopping, after it was limited to art galleries in New York and Paris.