Blockchain
The NFT Arts Marketplace
Brett Ashley Crawford, PhD, Ed. | March 2022
As the world seemed to erupt with NFTs spring 2021, it seemed necessary to curate a collection of cases and commentary on the emerging, née exploding, world of NFTs with a focus on the disruptions in both the arts and environmental ecosystems. The following provides context to the arts marketplace, ownership, and the environment and the disruptions caused by blockchain technology, especially NFTs.
Decentralized Patronage: Incentivizing Ethical and Effective Philanthropy of Crypto-Assets
Jenée Iyer | Published June 2020
Cryptocurrencies conjure up a variety of images. To some they are shadowy currencies, born of vice and crawling out of the corners of the dark web to sew anarchy into the traditional financial system. To others they are harbingers of a new wave of financial tools better suited to the digital age. Regardless of how one views these monetized bits of code, they have made a lot of people very rich and become significant taxable assets. As of March 2020 market capitalization for cryptocurrencies is over $166 billion. Some of these assets are trickling into the nonprofit realm as cryptocurrency holders look to either reduce their taxable income and/or support causes they find meritorious.The 2019 Global NGO Technology Report found that 2% of nonprofits accept cryptocurrency, up from 1% in 2018. This report analyzes the pathways, promises and potential problems of crypto-assets within fundraising.
Old Wine in a New Bottle:The Integration of the blockchain and auctions
Luna Hu | Published February 2020
As the blockchain becomes more widely recognized and accepted, it is important for arts managers to understand how it can be applied to the field. Auction houses are beginning to use this technology as it can serve as a secured ledger to register objects and to record information regarding artwork and sales data. Learn how blockchain is currently being used by auction houses and why it is likely to be more widely used in the future.
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