Art and Blockchain

Abstract

Blockchain technology, while commonly associated with cryptocurrencies, stands to bring radical structural change to the arts and creative industries. This paper presents a history, primer, and taxonomy of blockchain use cases in the arts and then explores the implications of blockchain in three regards: the blurring of the for-profit / nonprofit distinction, changes in the ownership structure of art, and potential for new structures of public and private support and related policy changes. These developments raise important questions of governance of a technology which requires expertise in cryptography, coding, and securities law for implementation. Ultimately, blockchain holds the potential to tip the role of the arts toward democratic availability through collective ownership structures or toward further commodification of cultural assets.