Open AccessPROSPECTS OF INVESTMENT IN DIGITAL ART: CASE OF ETHEREUM AND NON-FUNGIBLE TOKEN (NFT)
Author(s) -
Doaa Salman,
Fatma Elnasr
Publication year - 2021
Publication title -
economics and law
Language(s) - English
Resource type - Journals
ISSN - 2682-972X
DOI - 10.37708/el.swu.v3i2.3
Subject(s) - security token , the arts , investment (military) , value (mathematics) , commerce , nothing , digital art , business , advertising , computer science , computer security , art , visual arts , political science , law , performance art , machine learning , politics , art history , philosophy , epistemology
This paper focuses on the technology impact via Blockchain to change consumer behavior in the digital art industry. The paper objectives are three folds: first, analyze the impact of Ethereum in selling digital artwork and on the bank world. Second, investigate the effects of Non-Fungible Token on the art industry. Third, highlight how people can sell their artworks, tweets, or even memes for thousands of dollars. Fourth, explain the effect of Ethereum in creating value for artwork and why a meme that includes nothing unique to be sold for an unbelievable price?The paper provides insights on the future of the digital arts industry and the rational behavior of the developers, artists, and even customers, as the three parties shape the business of the NFL’s success. It reflects on the investment behavior in digital arts and the importance of a secure long-term investment for a niche segment that seeks to satisfy their need of acquiring unique products. The paper serves as a guide for digital art and focuses on how AI applications create profitable markets.