A Literature Survey on Tokenization of Digital Art with NFT Marketplace

Abstract

In this era of boundless potential that the age of technology brought with it, artists are lured by the limitless terrain of digital world. Regardless, the existing backdrop presents issues for artists who work in the old-fashioned mediums and even one’s who work in the digital mediums, as it seems that they possess distinct challenges such as reduced revenue, complicated views on streaming statistics, copyright issues, and an old framework that is failing to suit the new digital era demands. This paper seeks to elevate the model in the form of digital art domain by combining non fungible tokens and blockchain technology. This paper proposes to respond to the looming challenges of copyright infringement as well as guaranteeing income security of digital artists. With the help of blockchain technology, this model provides a revolutionary change in the digital art world by providing a decentralized and artisanal environment that changes the digital creativity landscape.