The Shape of International Art Purchasing—The Shape of Things to Come
This article is about the role of cryptocurrencies, for example, decentralized autonomous organisations (DAOs) and non-fungible tokens (NFTs), in the international art market. These are cryptocurrencies which can be used to work with local governments to deliver non-state-funded consultancy in, for...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-09-01
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| Series: | Arts |
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| Online Access: | https://www.mdpi.com/2076-0752/12/5/208 |
| _version_ | 1797574798484701184 |
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| author | Benjamin Duke |
| author_facet | Benjamin Duke |
| author_sort | Benjamin Duke |
| collection | DOAJ |
| description | This article is about the role of cryptocurrencies, for example, decentralized autonomous organisations (DAOs) and non-fungible tokens (NFTs), in the international art market. These are cryptocurrencies which can be used to work with local governments to deliver non-state-funded consultancy in, for example, funding bid writing or community risk assessment. Self-polycentric and cause-based DAOs typically focus on actively listening to their token owners, utilizing the group’s skills under a transparent incentive structure fostering trust. This article delivers a critical evaluation of DAOs as an organisational management structure and business operations vehicle. This evaluation considers DAOs’ utility in supplying goods and services, through the critical lens of facilitating the international art market. The objective of this article is to raise wider awareness and understanding of DAOs as a legal entity. This paper acts to introduce the uninitiated to the business, societal value and legal uncertainties of DAOs and NFTs. DAOs are internet-based organisations built upon a set of instructions presented in and controlled by a computer programme, i.e., a smart contract. Effectively, DAOs are an artificial, electronic, online, digital technology entity, with no physical form. |
| first_indexed | 2024-03-10T21:27:14Z |
| format | Article |
| id | doaj.art-393f230bae7e4c15b066a8e637083d83 |
| institution | Directory Open Access Journal |
| issn | 2076-0752 |
| language | English |
| last_indexed | 2024-03-10T21:27:14Z |
| publishDate | 2023-09-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Arts |
| spelling | doaj.art-393f230bae7e4c15b066a8e637083d832023-11-19T15:35:02ZengMDPI AGArts2076-07522023-09-0112520810.3390/arts12050208The Shape of International Art Purchasing—The Shape of Things to ComeBenjamin Duke0Institute for Inclusivity in Higher Education, University of Leicester, Leicester LE1 7RH, UKThis article is about the role of cryptocurrencies, for example, decentralized autonomous organisations (DAOs) and non-fungible tokens (NFTs), in the international art market. These are cryptocurrencies which can be used to work with local governments to deliver non-state-funded consultancy in, for example, funding bid writing or community risk assessment. Self-polycentric and cause-based DAOs typically focus on actively listening to their token owners, utilizing the group’s skills under a transparent incentive structure fostering trust. This article delivers a critical evaluation of DAOs as an organisational management structure and business operations vehicle. This evaluation considers DAOs’ utility in supplying goods and services, through the critical lens of facilitating the international art market. The objective of this article is to raise wider awareness and understanding of DAOs as a legal entity. This paper acts to introduce the uninitiated to the business, societal value and legal uncertainties of DAOs and NFTs. DAOs are internet-based organisations built upon a set of instructions presented in and controlled by a computer programme, i.e., a smart contract. Effectively, DAOs are an artificial, electronic, online, digital technology entity, with no physical form.https://www.mdpi.com/2076-0752/12/5/208decentralised autonomous organisations (DAOs)arts-based DAOsnon-fungible tokens (NFTs)corporate mutualisationcryptocurrency |
| spellingShingle | Benjamin Duke The Shape of International Art Purchasing—The Shape of Things to Come Arts decentralised autonomous organisations (DAOs) arts-based DAOs non-fungible tokens (NFTs) corporate mutualisation cryptocurrency |
| title | The Shape of International Art Purchasing—The Shape of Things to Come |
| title_full | The Shape of International Art Purchasing—The Shape of Things to Come |
| title_fullStr | The Shape of International Art Purchasing—The Shape of Things to Come |
| title_full_unstemmed | The Shape of International Art Purchasing—The Shape of Things to Come |
| title_short | The Shape of International Art Purchasing—The Shape of Things to Come |
| title_sort | shape of international art purchasing the shape of things to come |
| topic | decentralised autonomous organisations (DAOs) arts-based DAOs non-fungible tokens (NFTs) corporate mutualisation cryptocurrency |
| url | https://www.mdpi.com/2076-0752/12/5/208 |
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