Arts Education and Non-Fungible Tokens in the Digital Economy

Abstract

Non-fungible tokens (NFTs) are a highly burgeoning phenomenon reforming how digital assets are traded. NFTs embody irreversible rights to exclusive digital assets such as digital art and collectibles and are represented as digital tokens that can be traded across marketplaces employing blockchain technologies. NFTs engender new ways to organize, consume, move, program, store digital information and have experienced a rise in various adaptations across art, content creation, and tech-crypto businesses. I defined NFTs and outlined the objective of this research which include; to highlight how NFT fit with blockchains and cryptocurrencies, how it can be used by various industries, the role of art education in the present transformation and the opportunities they present. The methodology combined opinion with other documentary reviews. Key findings are: an artworld map of an entire NFT ecosystem, NFTS is an easier digital alternative for building a sustainable economy within the art industry in Nigeria as the conclusion.