Digital Transformation and the Art Market: Exploring the Role of Blockchain, AI, and Globalization in Museum and Market Practices

Abstract

This review examines the evolving dynamics of the contemporary art market, emphasizing the intersection of postmodern discourses, digital technologies, and art commerce. The analysis explores how technologies such as blockchain, artificial intelligence, and virtual and augmented reality are reshaping the production, distribution, and consumption of art. The study highlights the influence of online platforms, cryptocurrencies, and social media in democratizing access while addressing challenges like data integrity and the replication of physical art experiences. It also delves into the shifting roles of museums, galleries, and intermediaries in creating cultural capital and curatorial narratives amidst market-driven approaches. By synthesizing insights from multidisciplinary perspectives, this review underscores the transformative potential of digital innovations in art markets and their implications for research, curation, and the future of art commerce. The findings contribute to a deeper understanding of the art market's globalization and offer strategies for navigating its complexities in the digital age.