Too Long; Didn't Read
In 2019, the art market value was estimated to have crossed USD 64.1 billion, with close to USD 20 billion used on ancillary and external support services. Several blockchain-based art platforms have already been launched, giving a heads up for the widespread usability of the technology. The art sector has embraced blockchain technology, slowly transforming how art is being bought, sold, supported, enjoyed, and even created. The technology is significantly revolutionizing the art sector by opening up new opportunities, enhancing diversified high-end art portfolios and eliminating counterfeits and fraud.