The Rise of NFTs in London’s Art Economy

THE IMPACT OF NFTS ON THE ROLE OF TRADITIONAL ART MARKET PROFESSIONALS IN LONDON

A dissertation submitted in conformity with the requirements for the Master’s Degree in Art Business Sotheby’s Institute of Art/University of Manchester

ABSTRACT

The art industry is rapidly changing, and so are its professionals. The changes that have taken place in recent years have been driven by several factors, including demographic shifts, economic challenges and technological advancements. As a result of these shifts, there has been an increase in new technologies being adopted across all areas of the traditional art world, from auction houses to galleries to museums, as well as an increase in new ways for collectors to interact with these institutions. The current trend is NFTs (Non-Fungible Tokens), a new form of digital assets used in the art market. Given its growing popularity and its potential to dramatically change the art market,…