The Art Market in the Digital Age: Trends and Predictions

Dusabe Bihoyiki Gahiji

Faculty of Business and Management Kampala International University Uganda

ABSTRACT

The digital age has significantly transformed the art market, bringing about new trends and predictions that influence how art is created, sold, and valued. This paper explores the evolution of the art market from traditional practices to digital platforms, examining key players, emerging trends, and future predictions. The advent of blockchain technology and non-fungible tokens (NFTs) has introduced a new era of digital art, challenging traditional market structures. The paper also discusses the impact of online auctions and the growing influence of cryptocurrency in art transactions. By analyzing these developments, the paper aims to provide a comprehensive understanding of the current state and future possibilities of the art market in the digital age.

Keywords: Art market, digital age, online auctions, blockchain, NFTs, cryptocurrency.

CITATION: Dusabe Bihoyiki Gahiji. The Art Market in the Digital Age: Trends and Predictions. Research Output Journal of Arts and Management, 2024 3(2):5-9.