Some of the World's Top Artists Are Trying Their Hand at NFTs. The World's Top Galleries Are a Bit More Skeptical
On Sentinels (2021). Image courtesy the artist. News last week that Phillips would offer its first NFT completed a hat trick: all three major auction houses have now officially gotten in on the phenomenon that has thrown the art market for a loop. So far, however, galleries are wading into this particular pool much more cautiously—in part because they have considerably less to gain financially. While a handful of artists have developed non-fungible tokens to complement planned gallery shows, the NFT distribution mechanism isn’t designed to offer an additional income stream for galleries. ...
Source: artnet.com
