NFTs ignite the art market

Everydays: The First 5000 Days, a digital collage by American artist Beeple, sold for $ 69.3 million in March 2021. Courtesy of Christie’s / AFP

HOW THE NFT PHENOMENON IS SHOCKED IN THE WORLD (5/5) – The works of Web 3 are attracting new players ready to invest to keep up to date.

The term “non-fungible token” (NFT in English) made its entrance in the Larousse 2023. If these new technological tools existed before the pandemic, the phenomenon has grown to reach the general public … and some excess. However, beyond a fashion effect or a marketing discourse, these digital assets are shaping a profound upheaval for many industries.

A hunting ground for new speculators, the world of NFTs is now bearing the brunt of the crisis, with the collapse of cryptocurrencies. Does the enthusiasm of buyers, investors rather than collectors, mark a pause? Quick Win Ending Insurance. Disenchantment with the artistic quality of the pieces. Uncertainty of resale value on a secondary market that does not yet exist. Yet, nothing seems to stop the players in the field, still convinced that this universe of the web 3 will be an upheaval in the way of learning about the art market.

Of course…

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