In this C! Podcast Corinne M. Flick speaks with Simon Oldfield, curator, art advisor and lawyer who works at the intersection of art and technology, about:
Are NFTs the Liberalisation of the Arts?
Here’s what he said:
We’ve seen at least a mini revolution in the artworld because NFTs created new possibilities for artists to participate in the art market.
NFTs solved a problem that was always present with the internet. You can now create scarcity. You can create the uniqueness around a digital object in the way that you could for a physical object.
Artists are able to present work that they couldn’t show to the world previously because it was addressing themes that were potentially illegal or frowned upon within their own countries. I think we’re seeing a kind of a liberation for artists.
The rise of crypto-currency has fuelled the NFT market. However, that has created a much broader dialogue in the artworld generally, and we are now seeing the NFT market maturing.
I think there is a fear that NFTs will challenge or undermine the traditional artworld. That is not the case. I see it like anything else: it’s expansion, it’s growth, it’s change.
There is a benefit to the volume of people becoming involved in this world now. They bring great ideas, great minds and investment that will allow things to not just develop at pace but also to put the infrastructures in place that allow it all to function within society.
There’s too much happening for NFTs to go away. There are too many people involved, the benefits and the upsides are too great.