Art market pushes on with rocky crypto romance

An Italian project to digitise works by masters such as Raphael has hit problems.PARIS - The closest most people get to owning a world-famous artwork is to buy a cheap poster from a gallery, but art dealers are determined to harness technology to draw in new collectors.

Each buyer gets an NFT, the unique digital tokens created and stored on the blockchain, the computer code that underpins cryptocurrencies. Collectors and artists are among the most eager experimenters with the technology, even if it means owning only a slice of a digital copy of a painting. The buyer gets a unique, high-resolution digital copy to project onto a screen and a certificate from the museum, which gets half the proceeds.

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Growing Africa’s contemporary art marketExcitement is building up ahead of this year’s Joburg art fair. Art connoisseurs will be treated to three days of the best in Contemporary African Art. After two years without a physical fair, FNB Art Joburg is returning to the Sandton Convention Centre. Managing Director of FNB Art Joburg Mandla Sibeko is hoping for more local interest in the art industry.
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Art market pushes on with rocky crypto romance | Fin24Thirteen Italian museums recently signed deals with Cinello, a firm that sells limited edition digital reproductions to offer ownership of digital replicas of masterworks.
Source: Fin24 - 🏆 21. / 63 Read more »