Trends in the development of the NFT market and crypto art as a component of the recovery of the national economy
DOI:
https://doi.org/10.31558/2307-2318.2022.2.19Keywords:
crypto art; NFT market; cryptocurrency; digital art; economicsAbstract
The analysis of the main aspects of the development of the NFT market and crypto art as components of the development of the Ukrainian economy was carried out. The trends in the implementation of cryptocurrency and NFT are analyzed to achieve new horizons in economic development. It has been proven that in order to expand the social barrier and provide access to crypto art, everyone needs to solve two problems: the limited revision of individual works and the impossibility of duplicating them so that each copy has the same value. Today, thanks to digital art, there is a chance to make crypto art truly democratic and accessible, meeting real economic needs. It has been established that thanks to the spread of new technology, artists expand their field of activity and there are more chances to increase income, and viewers will be able to enjoy a universal work. A description and analysis of the trends in modern crypto art, which are a manifestation of digital art, is given. It has been proven that the authenticity of digital art can be verified using an NFT or non-fungible token. The possibilities and limitations of the development of the NFT market are highlighted. It has been proven that the NFT market can become the engine of the modern economy, as it creates a balance between art and economics.
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