It seems that no corner of commerce is immune to potential tumult brought about by technology. Online art sales continue to grow, posing challenges to traditional art businesses. Meanwhile blockchain is being explored as an avenue to address the “multitude of middlemen between the creator and the consumers of art”, according to the Art & Finance Report 2017 by Deloitte and ArtTactic. “Seeing the potential, art startups are already building real-world applications based on blockchain,” the report found.
Creative disruption
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The modern and contemporary art extravaganza Art Basel, which has stops in Miami Beach and Hong Kong, is expected to highlight works from nearly 300 of the world’s top galleries in June in Basel, Switzerland. Here, a woman poses for a photograph behind artist Julio Le Parc’s “Sphère Bleue” at Art Basel in Hong Kong in March.