We were in 2022! Now, people are getting familiar with numerous advanced technologies. Virtual reality is going to be the future. Metaverse is under construction. Well, this is quite a drastic change. 

Digital Transition Of Art 

The art industry is undergoing a digital transformation right now. From drawing on paper and displaying them in art galleries, artists have advanced to drawing digital art and showcasing them in virtual art galleries. NFT Marketplace Development Services is one of the rapidly growing technologies assisting the growth of artists.

Struggles Of An Artist

Art involves immense creativity and passion. However, not all creative artists can survive the heat of this industry. Mostly, they have to approach a third party to help them display their artwork to the public. The same goes for buying and selling too. Brokerage and commission will be there while selling the paintings to the buyers. 

Dispute-Solving Smart Contracts

Let us collectively describe the potential use cases of smart contracts in the art industry. 

Decentralized Art Exchange

Have you noticed how art auctions have turned out these days?- From typical auction houses to auction websites, artists have started to sell their artworks in the form of illustrations, videos, graphics, and others. After uploading the painting, the artist can earn a commission in digital currency or fiat. Due to the decentralized exchange feature, artists will receive direct payments from the buyers. 

Digital Artworks

Can you believe it? A digital artwork-“The Arrival Of Spring,” was drawn using just an iPad. This art piece was sold for $28,000, which is obviously a high price. All such examples show the evolution of digital art spaces across the world. When combined with blockchain technology, we can avoid duplication of artworks. Smart Contracts will trigger the direct buying and selling of paintings. Also, it will nullify the fear of security and privacy breaches in the network.  

Democratic Art Space

Recently, most people are exhibiting great interest in buying artworks online. Meanwhile, tokenizing artworks with the help of smart contracts has paved the way for small capital art lovers to invest in painting. Additionally, sellers can acquire payments from investors via the P2P payment system.


Final Comments

Blockchain-infused smart contracts are worth implementing in the visual art industry. Also, blockchain itself offers numerous benefits to this domain that we haven’t explored yet. With a proper infusion of innovative contract development services in the right place, we can resolve various issues in the art industry. Luckily, most forthcoming blockchain projects are focused on rectifying those problems.