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From the beginning to the present, we have relied heavily on technology to carry out our social and economical operations in the most efficient and timely manner possible. It has become imperative to change traditional business models with the advancement of technology and the necessity of our age. To exemplify this, cash that could be physically transferred in the past has changed to digital money, virtual money, and lastly, cryptocurrency. Nowadays, a decentralized network can be established between peers (two people/two machines/two computers on the internet). Exchanging digital art has also become possible with blockchain technology, which forms the infrastructure of cryptocurrencies. On March 21, 2006, when Twitter CEO Jack Dorsey’s first “tweet” (a post made on Twitter), “just setting up my twttr”, was offered for sale with NFT, awareness of the term ‘NFT’ began to increase. This new concept, which started to gain popularity, reached its peak with the sale of American artist Mike Winkelmann of 69.3 million dollars, the highest amount ever paid. In this study, Winkelmann combined the images he regularly produced every day since May 2007 in a single ‘jpeg’ file and offered them for sale. The works in this period, called crypto art, have come to the fore again, although they are unique, the only feature sought in the work of art. At the same time, the concept of digital property rights, which is one of the other features of works of art, came to the fore with this technology. This research will discuss whether NFT is a form of property right or a tool for commercializing property. It will also be discussed what the concepts of blockchain and NFT are, where they fit into our daily lives and how they fit into art, the representation problems associated with these concepts, and their positive and negative aspects.

art, new technology, nft, blockchain


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