Crypto art refers to digital artworks secured and verified using blockchain technology, typically as non-fungible tokens (NFTs). Each piece of crypto art is unique and provably scarce, with its ownership recorded on a distributed ledger. This innovation provides artists with new avenues for creation, distribution, and monetization of digital works. It represents a significant shift in the art market.
Context
Crypto art has garnered substantial media attention for its record-breaking sales and the disruption it presents to traditional art markets. News often reports on prominent artists entering the space, major auction house sales, and discussions surrounding intellectual property rights for digital creations. A current debate involves the environmental impact of certain blockchain technologies used for NFTs. The long-term value and cultural acceptance of crypto art remain ongoing topics of discussion.
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