![]() ![]() ![]() For example, the trade in portraits continued to exist alongside the trade in landscapes. “I’m currently writing a book about the development of the international art market over the centuries, and you can see that not every innovation immediately means that the old disappears. Museums like the British Museum are also converting part of their collection into NFTs, to interest a younger audience.” The big auction houses therefore see NFT as a way to attract a new generation of art buyers, not to replace the existing art market. 78 percent of the bidders were attending a Sotheby’s auction for the first time and the average age was ten years younger. Last year, the auction house organised nine NFT auctions, offering works totalling 199 million in value. ![]() ![]() He continues: “The reason why I think that is because I recently attended a lecture by a digital art specialist from Sotheby’s, who explained how the famous auction house attracts new buyers by organising NFT auctions, but then also gets them interested in traditional art auctions. However, Vermeylen doesn’t think that the arrival of digital art will displace interest in other art. No one saw the value in it because you could copy it endlessly.” With a jpeg file, that’s obviously unimaginable. Because a unique code is linked to an artwork, the trade in digital art becomes much more transparent, less susceptible to fraud and it’s easier to establish ownership for digital art. He explains: “The technology behind the NFT is revolutionary. He specialises in the international art market. ‘It needs to become a kind of bol.com for NFTs.’ Hoping for profitĭoes the step to the wider public also mean that the art market will totally change? Professor Filip Vermeylen (ESHCC) is sceptical about that. The goal is clear, he continues: “NFTs are no longer just for nerds, and we want to respond to that.” The guys hope to become the biggest supplier for the Benelux and, like at bol.com, want customers on Authic to be able to pay via Ideal in euros. “It needs to become a kind of bol.com for NFTs.” With the company, he wants to make NFTs more accessible. The online marketplace is currently recruiting artists and officially opens in April. Bachtiar’s former fellow student Laurens Groothuis (25) now works as its relations manager. And with the emergence of NFTs, I was able to combine that interest with my love of art.” Together with recently graduated cybersecurity specialist Tat Luat Nguyen (23) and commercial data analyst Wouter Kloosterman (27), he established the start-up Authic. Lemar: “That logic is the idea of a decentralised monetary union, a value system that exists without a central bank. He has invested in Bitcoin since 2017 and became interested in the logics behind the digital currency. Lemar Bachtiar (24) has just graduated in Financial Law. Film stars traded in them, and numerous success stories were told about obscure works that had risen in price by hundreds of thousands of euros over a few days. In 2021, the NFT suddenly appeared all over the media too. Both students also mention that NFTs support artists at a time when their business was going badly because of the corona crisis. NFTs are a breakthrough technology.’įor student Leon (23), who is studying for his master’s degree in Strategic Entrepreneurship, the Japanese animation style and the bright colours of artist Dazed Ducks appeal to him. It’s an image with black and white framed clip art showing various categories and accompanied by the following comment in English: ‘You likely fall into one of these categories: 1. The work was made by artist Jack Butcher, better known known by the name ‘Visualize Value’. Economics student Sandra (22), who also attended the event, bought her boyfriend an NFT a year ago. Usually the work appeals to them in the same way as an artwork can appeal to the viewer. The reasons why students are buying NFTs are similar. The number of students investing in NFTs seems to be growing, says Ilaria: “Last year, I didn’t hear anything about it, but now I hear lots of students talking about it.” The winners received an NFT specially created for the event. There was also a quiz with questions to test how much participants already knew about NFTs. Around forty enthusiastic students came to the Theil building to find out what a start-up could teach them about the ‘new art form’, she says. In November, the first NFT event was organised on campus Woudestein by the Erasmus Tech Community, a group of students who are interested in all kinds of new technologies. Ilaria is not the only student at Erasmus University to get involved with these NFTs. ![]()
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