Blockchain, NFTs, and the Art World

Catalog description

The most expensive artwork sold in 2021 was an NFT (non-fungible token) created by Beeple, an artist previously unknown to the art world, but well respected by NFT collectors. NFTs, made possible by blockchain, are radically redefining the art world's commercial boundaries, social dynamics, and even what constitutes an artwork. How do NFTs work? What lends legitimacy to NFT artworks when digital materials can easily be copied via 'Right Click Save'? How does the blockchain alter and reinforce ideas of scarcity, authenticity, and authorship of artwork? How are artists engaging with and reacting to this new technology? How are museums, galleries, and market forces responding? Through guest lectures and discussions, this student-initiated course will provide a foundational understanding of technologies driving the NFT phenomenon and delve into its implications on contemporary artists and the art world.