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The rise of non-fungible tokens (NFTs) has been astonishing, in particular for the arts and creative industries. The dominant discourse both in mainstream media and in academia today focuses predominantly on what this new technology can do for the art market rather than art itself. However, framing NFTs in art in the context of money and markets draws attention away from the more subtle and creative role of NFTs. Consequently, this article asks: What is the role of NFTs in art, beyond the market? This research complements existing empirical work, by conducting a case study and interviews with members of DADA, a historic NFT art project which is particularly critical towards the role of the art market. The findings foregrounded five roles that NFTs play in art: as (1) a tool for systemic change, (2) a new way to community, (3) a ritual artefact, (4) a means for preservation and (5) a new medium.
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References
Publication Date:
https://doi.org/10.1386/tear_00098_1 Published content will be available immediately after check-out or when it is released in case of a pre-order. Please make sure to be logged in to see all available purchase options.