ScholarWorks@중앙대학교

초록

NFTs challenged the traditional norms of the art markets, by bypassing intermediaries, democratizing access to art, and empowering artists to independently profit from their work. This shift has been particularly impactful in the Korean art market, where digital platforms have enabled artists and buyers to engage directly, fostering new business models and community-based value creation. However, the rapid evolution of the NFT art market has faced challenges, including market volatility, ethical issues, and fraud. The collapse of projects like MetaKongz and incidents of scams and hacking highlight the vulnerabilities within this emerging market. Despite the initial excitement, the market’s decline raises questions about the long-term sustainability and true disruptive potential of NFTs. Therefore, establishing a robust critical framework for evaluating NFT art is crucial to balance commercialization with artistic value, ensuring the continued evolution and diversification of the art market. © 2025 selection and editorial matter, Iain Robertson, Derrick Chong and Luís U. Afonso.