The Art Market Has Become Financialized (And Blockchain Is Making It More So)

Last month in London, DACS, Britain’s leading artists’ rights management organization, unveiled “The Art Market 2.0” to lawmakers in the House of Commons. A report by academics at the Alan Turing Institute in London and Oxford University, it envisioned how blockchain technology might “change the balance of economic power in the art market” and “integrate art into the financial sector.” A financialized Art Market 2.0 would lead to an “explosion of liquidity and value,” according to the report.