Crypto Art - Influence to the Swiss Art Scene

Blockchain technology offers many new opportunities in a wide variety of areas. In the field of art, the Non-fungible Token, also called NFT, is particularly popular. The artwork can be packaged into one and this token is then the certificate of ownership of the artwork. There is a feeling that a whole new market is emerging, with many new artists and also a new buyer base, which could also have an impact on the existing art market. The art market is a very complex market with many different actors. This white paper gives an overview of the impact of crypto art on the Swiss art market based on the perspectives of different actors in the art market. For this purpose, 11 qualitative interviews were carried out with different actors from the Swiss art scene. Based on the findings the opportunities and challenges for the crypto art was identified.