Blockchain and the Transformation of Artistic Ownership: A Qualitative Study of NFTs in Fine Arts

Abstract

This study examines the transformation of artistic ownership in fine arts through blockchain-based non-fungible tokens (NFTs). It explores how NFTs reshape traditional systems of provenance, authenticity, and value creation by decentralising ownership verification and embedding transaction records within blockchain infrastructure. Using a qualitative research design based on secondary data analysis, the study synthesises findings from academic literature, industry reports, and case studies of NFT marketplaces and institutional adoption. The analysis is grounded in Actor-Network Theory, Institutional Theory, and Cultural Economics, enabling a multidimensional interpretation of technological, institutional, and economic change. Findings indicate that NFTs reconfigure artistic ownership through programmable smart contracts, disrupt traditional intermediary roles in the art world, and introduce new forms of digital scarcity that drive speculative valuation. However, challenges such as regulatory ambiguity, environmental concerns, and market volatility remain significant. The study concludes that NFTs represent not merely a technological innovation but a structural transformation of ownership systems in contemporary fine arts. Keywords: Blockchain, NFTs, Artistic Ownership, Fine Arts, Digital Art Markets, Cultural Economics, Institutional Change