Blockchain technology entering art world

Artwork Plus Shanghai, an area artwork truthful based in 2019, will introduce blockchain expertise to assist artists defend their mental property rights at this 12 months’s truthful.

Along with an offline occasion to be held on the Shanghai World Expo and Conference Heart in October, Artwork Plus Shanghai 2021 will stage a web-based digital truthful.

“Digital art work, cryptocurrencies and the brand new expertise is likely to be a compensation if we wished to improve our artwork truthful right into a 2.0 model,” mentioned Gu Chen, the truthful director. “By way of collaborations with our companions, blockchain won’t solely present extra secure improvement within the artwork market, but additionally long-term, official mental property safety for artists.”

In keeping with Gu, the introduction of blockchain will slim the general public hole between the popularity and utility of the brand new expertise within the artwork area.