update 19 August 2021

Blockchain Technology Uses in the Art Industry

Since its debut in 2008 and Bitcoin’s introduction, blockchain technology is achieving new heights every day. It incorporates the use of a decentralized ledger for information storage. With its infiltration into industries globally, companies are seeing more benefits that blockchain technology offers. Security and ease of transactions and record-keeping are getting better by the day with more innovations applied to the technology.

Art has been around for a long time and is depicted in many forms. The richness contained in the sector requires preservation of its dignity. It is only right that the art industry is adapting to blockchain and its endless probabilities. The art scene encounters a variety of issues that compromise the legality of the market. Fraud and forgery is a significant problem to curb; blockchain technology can rid the market of the same while improving the creative sector.

Blockchain and Art Creation

So, how can the implementation of blockchain technology change creativity in the art sector? Here are several ways blockchain technology manifests its power in art creation.

  •  Blockchain-inspired Art

Blockchain technology captured the attention of multitudes of people a long time ago. Creators of art pieces are now producing compositions based on the tech. One of the most notable pieces is the first Bitcoin monument in Kranj, Slovenia. For the piece, the public contributed ideas of the statue before officials settled on Bitcoin.

More Bitcoin-based art is coming up daily, with people gaining more appeal to blockchain in general. The first impressive painting is Leonardo Da Vinci’s Last Supper replica by a French artist, You. The Last (Bitcoin) Supper depicts the currency, laptops, and QR codes, among others. The art piece is one of many representing similar ideas.

  • Blockchain-powered Art

Blockchain-powered art uses blockchain technology to thrive. The creations require the input of the tech to bring it to completion.

One such notable art creation is Plantoids. The blockchain-based robotic plant-like forms have a design that allows it to appear, behave, and grow like an actual plant. Their features include self-replication, self-sustainability, and self-governing. These sculptures are in public places for aesthetic value and viewing by people.

Bitcoin donations by people to the plantoids allow them to reach a reproductive stage. During donations, people can interact with the plantoids on a personal level. Once at the reproductive phase, a plantoid initiates discussions with designers, artists, programmers, hackers, and makers to create the next planetoid. It is a bid, with all the Bitcoin donated as a reward for winning the bid.

Another form of blockchain-powered art is the Scarab Experiment. It involves artificial intelligence and tokenization. There are 1000 submissions of art from different people, which they combine to form one final art piece using AI imaging technology. Once you submit a piece of art, you receive a Scarab token and a say on the last piece’s ideas.

  • Art Collectibles

Collectibles are pieces created, preserved, and exchanged on blockchain-based platforms. There is a variety, including clothes, shoes, stickers, stamps, cards, and memes. These platforms enable ownership, interactions, displays, purchasing, and selling of the collectibles. 

A more significant advantage is a huge audience to show off your creations and collections to. One of the best-known platforms for collectibles is CryptoKitties.

Benefits of Blockchain Technology in the Art Industry

Blockchain technology is not only of help in digital art-making but also the advancement of physical art platforms. Old forms of art have a better future with their introduction to the digital age. These implementations rid us of problems that come along with traditional types of art transactions. 

Let us see some cases of how blockchain technology is revolutionizing the art industry.

  • Provenance

Buyers can attain the history of an art piece with its introduction to a distributed ledger. It is possible to get the information on past owners up to the artist himself. Since it is difficult to alter the information on a blockchain, it is hard for anyone to fake or forge it.

Transparency of the processes improves along with the security, authentication, and proof of ownership. A stolen art piece cannot sell if the blockchain states it as taken. Therefore, pirated and forged merchandise loses its value on the market, making efforts to sell a fool’s play.

Provenance provisions in blockchain help with a censorship-free platform for new creations. Once they are available on the blockchain, no one can tamper with their existence. All forms of art’s relevance and value are present more than ever, allowing their spread very minute on all networks.

  • Digital Markets

The selling of every art form is more comfortable with digital blockchain platforms for the same. Bidding can be online with ownership rights issued through smart contracts. The use of tokens makes the identification, transfer, and tracking of the rights less tasking.

Digital museums offer exhibitions on an online platform, which makes the process available for enthusiasts globally. The digital presence of artwork further helps to advertise potential upcoming artists who lack exposure in traditional settings.

  • Decentralization

With blockchain markets having a decentralized feature, artists can interact personally with their buyers. Intermediaries who may diverge the rules of what you do with your pieces are out of the picture. 

The transactions are faster with third-party omission, unlike in traditional forms. In a decentralized market, affordability is nigh. You can now purchase art for less than $10. Besides, without the need for auction houses and galleries, there are lesser mouths to feed – lowering art prices significantly.

  •  Art Redefinition

The discrediting of digitally created art has been a trend for a long time with reactions to lack of creativity. However, blockchain is enabling the expansion of the digital art scene. Once anybody is willing to pay for such pieces, it opens a gateway to increasing their value.

Furthermore, blockchain is revolutionizing the creation and presentation of art. Plantoids are proving this fact on many levels. Painting and sketching are straightforward, using algorithms to aid in them. Presentation on canvas is no longer necessary. Screens can display art with high resolutions. Blockchain, in this case, helps with the authentication of the art.

  • Cryptocurrency Exchange

The era of the necessity of Fiat currency to pay for art is passing. With the introduction of blockchain technology, the facilitation of cryptocurrency exchange is used for faster transactions at lower costs.

Final Word

Blockchain adaptation into the art industry evolving the market to greater heights. With the traditional art platforms facing multiple controversies in terms of authenticity, security, and expense. The technology provides a way to express creativity while preserving its values. 

Btc
Bitcoin
$42.616
price
3.38167%
price change
BUY NOW

Companies worldwide such as MaecenasVerisartArtory, and Blockchain Art Collective, among others, are upcoming with blockchain basis for art dealerships are gaining popularity and giving people a chance to create, view, purchase, and sell art. Since this is just the beginning of a lifelong relationship between the two entities, we are yet to see more of what they hold.

More posts

Can You Gamble with Crypto in Las Vegas

Las Vegas is best known for gambling with an enormous concentration of world-class casinos and hotels. This entertainment hub situated in the State of Nevada attracts thousands of tourists across the world to experience the glamour and gambling life. Following the massive growth of Bitcoin in recent years, Las Vegas has increasingly embraced it, with widespread use, especially as a mode of payment for dining, rent, cars, etc. Over fifty businesses in Las Vegas, Nevada accept cryptocurrency as a mode…

Cases of the Longest Bearish Price Trends in the Crypto Market

The crypto world's decade-long existence has not been flawless. Like in any other market, there is always a bear trend that leads to massive losses. The 2008 market crash is one of the biggest bear markets in the financial world, and others occurred in the following years.  Crypto has seen cases of long market crashes as well, some lasting over a year. This guide will be looking into 5 of the must-know crypto market crashes. Furthermore, it will highlight the…

Who will enter the CryptoSphere first: Amazon or Facebook?

Amazon and Facebook are some of the biggest technology companies in the world and have long been the main drivers of tech innovation across the globe. These two companies have substantially impacted billions of internet users, whether it's through Facebook's pioneering and massively successful social media platform or Amazon’s enormous e-commerce platform and cloud computing services.  Both Amazon and Facebook have made several steps in the cryptosphere pushing for the adoption of cryptocurrencies and blockchain technology. In fact, Facebook and…

What Really Happens When Swapping Cryptos?

The process of swapping cryptocurrencies can be somewhat complex. Sometimes, you may end up lacking the exchange assets you need. For instance, you may want to exchange BTC for ZIL. Generally, there are very few exchanges that support direct BTC to ZIL exchanges. Therefore, in many scenarios, an individual will have to find a BTC trading pair. Exchange the BTC to another pair connected to ZIL, then complete by exchanging the second asset to Zil. Generally, following the whole exchange…

Could Brexit be the Underlying Reason for Developing The Digital Euro

After the election in December 2019, the British Parliament decided to ratify the withdrawal from the European Union. Factors that influenced Brexit included immigration, sovereignty, anti-establishment politics, among others. Could Brexit have influenced the development of the digital Euro? Read on to find out as we break down factors that led to the development of digital currency. The Growth of Digital Assets The concept of digital assets is not novel; its penetration and influence have left no stone unturned. The…

What Are Crypto Validators and How do They Work?

Crypto Validators are new "payment processors" in decentralized networks, and as such, they produce blockchain rewards. It sounds simple, doesn’t it? However, the definition of validators in crypto is much more complex than that. Also, the role of a validator may change depending on the consensus mechanism that each blockchain uses. In this guide to validators in blockchain, we take a closer look at this entity and its indispensable role. Furthermore, we analyze four validator use cases in different blockchains…

How Many ETH Will Burn After the London Fork?

Since its launch in July 2015, Ethereum has grown exponentially to be the second leading cryptocurrency in market value after Bitcoin. The platform’s growth has primarily been attributed to its smart contract feature, which powers the deployment of a wide range of applications, including oracles, decentralized finance (DeFi), decentralized exchanges (DApps), marketplaces, crypto-collectibles (NFTs), and developer tools.  Despite its growth, Ethereum faces numerous challenges that hinder its usability. The scalability challenge is one of the biggest ones that Ethereum faces. The current state…

The Impact of Adoption of Cryptocurrencies on E-commerce Business

E-commerce is the short form of electronic commerce. It is the buying and selling of merchandise over the internet networks. It also involves the transfer of funds and the keeping of records to certify the transactions made. E-commerce is of three types; business-to-consumer (B2C), business-to-business (B2B), and business-to-government (B2G). The main reason for using cryptocurrencies in e-commerce is to get rid of third parties that control the transactions. This relationship can make online shopping much easier and safer since blockchain technology that backs up cryptocurrencies is…

What it Means to Make Bitcoin a Legal Tender

June 9, 2021, marks the first move that would make history in Bitcoin's timeline. El Salvador passed a bill where 62 of 84 congressional voters would make Bitcoin a legal tender. Fast forward to September 7, and El Salvador became the first country to make Bitcoin a legal tender. In this article, we shall look into what it means for Bitcoin to be a legal tender in detail; What is Legal Tender? "This note is legal tender for all debts, public and…

The Correlation Between Blockchain Activity and Transaction Fees

Miners and validators are essential cogs in any crypto project. They're the ones who process transactions on a blockchain (BC) activity. For their efforts, crypto projects compensate them for their efforts from transaction fees. A transaction is only valid when it has undergone validation. The process ends in the validators adding it to the BC. Mining consumes a lot of computing power. As such, it's an energy-intensive exercise. The motivation for the miners is the block reward that consists of…