A piece in the New York Times notes that a number of collectors who made millions in crypto and NFTs are now competing for traditional, physical artworks on the secondary market. “The art market is always looking for a new territory to expand into and the NFT world is like the perfect gateway drug,” says Natasha Degen, chairwoman of art market studies at the Fashion Institute of Technology. “Anyone involved in a market like NFTs that is so volatile and speculative would have an easy time transitioning to the art world where those same dynamics occur.”

Read more at NYT

This entry was posted on Monday, February 14th, 2022 at 1:13 pm and is filed under Art News, Minipost, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.