Creative Commons

This dissertation was written as part of the MA in Art Law and Arts Management at the International Hellenic University. This thesis’ scope and orientation, is to provide detailed information, regarding blockchain’s applications in the art world. For the fulfillment of this purpose, an analysis on the emergence and technological function of blockchain, by describing Haber’s and Stornetta’s vision and contribution is realized. Also, Nacamoto’s influences regarding the blockchain’s core operation system, together with the mining function, are going to be explained. It also provides a brief introduction to NFTs definition, development and practical orientation. Eventually, it offers an analysis of art world’s efforts to embody the new technology and reorient their services. To this end museums, art galleries, auction houses, artists and emerging online platforms are studied through case studies’ examination. The most promising blockchain applications to these industries are exemplified and analyzed. Also, contradicted opinions regarding the vulnerability, sustainability and prospects of blockchain technology are showcased. Furthermore, the legal concerns and grey zones regarding blockchain’s practical applications are examined, through the scope of United States’ Copyright Act and European General Data Protection Regulation. Finally, in the conclusion, personal skeptical views are expressed, regarding the thesis’ findings.