Blockchain and Art Intertwine: Use Cases, Advantages, Flaws & Possible Solutions

Blockchain and art act jointly towards the realization of human ideals and stand to bring radical structural change to the world, beginning with the financial system and modern creative industries. Both have a positive influence and play a significant role in cultural and civic engagement. In 2022, blockchain and NFTs still dominate public debates. The main discussions are about the benefits of blockchain technology, as well as its flaws. Some known issues are the lack of official public registers of copyright, and global standards of licenses; the problem of NFTs storage; difficulty in assessing the uniqueness and understanding how many copies exist​; difficulty in finding the original owner of the NFT​; environmental concerns; difficulty in determining the value of the NFT, etc. The presentation is an attempt to conceptualize the main blockchain use cases in the art industry, give a concrete and systematic overview of the benefits and flaws of the blockchain and NFTs, and propose solutions.