Creative: The NFT business is an investment that shapes the future of the creative industries

Officials, creators and art curators describe works of art based on irreplaceable symbols as the future of the creative industries, as they produced new types of works of art and a new segment of collectors and interested persons, emphasizing that they changed the concepts of galleries. artit. from realism to digital virtual space..

They claimed for “Al-Ru’aya” their opposition to the views that say that irreplaceable arts are just a bubble of a new fashion that passes through the world of arts, emphasizing that it represents an artistic era that will be the new future. of creative industries..

And they considered it NFTOne of the desirable assets of the investment, but they stressed the need to observe accuracy when buying, so that buyers do not fall into the trap of poor business, noting that he will not pull the carpet from the classic works, but rather its value may increase over time. koha..

support for the arts

The Executive Director of the Arts and Letters Sector at the Dubai Culture and Arts Authority, Dr. Saeed Mubarak bin Kharbash, believes that symbols are not replaceable. NFT It will not pull the rug from the classic works, but rather its value may increase over time, noting that these symbols may increase the segment of those interested in buying works of art, especially digital art lovers ..

He stressed that these symbols attracted the attention of a larger segment of people like those who are interested in technology but also art collectors, expecting that in the future we will see different types of forms that promote the acquisition of works of art, stressed that these new forms will not refer to the classic pension works, but rather will remain. It retains its place in a large segment of art enthusiasts.

He stressed the desire of the Dubai Culture and Arts Authority to support all kinds of arts, whether classical or irreplaceable, noting that the authority supported irreplaceable symbols by organizing the 50-50 exhibition in collaboration with the Moro Collective..

He stressed that this exhibition is one of the first exhibitions of irreplaceable works in the country and came on the occasion of the fiftieth anniversary of the founding of the United Arab Emirates..

He stressed that the authority has worked with Art Dubai to have a complete digital arts department, in addition to three houses in the Al Fahidi neighborhood that will be dedicated to digital works, irreplaceable codes and metaverses. . (Metaverse)

He stressed the authority of the authority for this sector, emphasizing that the authority foresees to have a special section for digital arts, emphasizing that the authority is in the process of developing a special strategy for this type of art.

He stressed that the target group behind this type of art are young people and those interested in technology and the new generation of those interested in digital art..

promising market

Hala Khayat, regional director of Art Dubai, believes that the art world in general is based on different raw materials and tools..

And she continued: While the cryptocurrency market produced a new kind of art for us, which produced a new segment for us in the art market of artists and collectors, the tools of this art can be easy because they depend on tablets, photography and video. , which are tools that everyone possesses in our time..

She pointed out that the cryptocurrency market and the generation of video games, made a change in the audience of arts of irreplaceable symbols, which opened the doors to the trade of silver, gold, money, food and art, so the world of tokens became irreplaceable. as a world that combines money and creativity together..

She stressed Art Dubai’s desire to support the art scene by offering the best of this artistic segment, through collaboration with internationally registered companies associated with museums and international organizations, especially as what is surprising is that the irreplaceable symbols have emerged within a short time. period of time to attract connoisseurs.traditional art.

She noted the participation of 15 galleries in Art Dubai to exhibit works of art from the category of non-exchangeable tokens, in which the participating works were selected based on the criteria of a specialized committee and trading companies for these arts. Today Dubai is a cryptocurrency center and capital worldwide, which increases the potential for increased revenue in the digital arts market.

price increases

Eva Karcher, German art collector and visitor to Art Dubai, is interested in this type of art, as it has changed the distribution of art in the world, employing artists with technology..

She said: I have a great passion for buying classic workers and in fact I have not taken any business to master the technology of these symbols so far, but I am still studying the idea of ​​getting a job that interests me, especially. since it is a boom that we are seeing today and requires us to know the basics and criteria by which business prices are set and which are set by specific and specific persons..

And she continued: The surprising thing is that the business based on token technology has become one of the investment assets that many people want to buy, but from her experience she confirms that the buyer must take into account the accuracy of his choices, because some of their are good and others, emphasizing that the most important factors to consider when choosing one of these workers is the artistic value, whether the work or the artist who offers it and the party that sells the work..

And she warned that the space for manipulating the prices of paintings based on this technology is growing, so buyers need to carefully understand the market, so as not to fall prey to fraudsters..

new doors

Zain Mahjoub, Assistant Director of VIP Relations at Art Dubai, stressed that the presence of this type of art on various digital platforms has contributed to opening new doors for art collectors and there are new artistic communities appearing on the creative art scene, including Showrooms and galleries that may not be physically located and their presence on stage exclusively through platforms, i.e. are galleries or digital galleries..

He expected the UAE in general and Dubai in particular to witness the entry of new customers into such products, especially as Danat al-Dunya has become an international financial hub and has also become a magnet for artists around the world. in addition to the region’s great interest in digital arts..

major changes

Stefano Favereto, the Italian artist and curator of art galleries with irreplaceable symbols, who recently participated in the “Gateway to the Metaverse” exhibition, organized by the House of Wisdom in Sharjah, rejected the view that irreplaceable art is only a bubble. for a new fashion that passes into the world of arts, emphasizing that it is an artistic era that will be the new future of arts and creative industries.

He stressed that the art world will witness many changes and developments, including the emergence of more artists, photographers and musicians in the artistic and cultural scene, who depend on this technology..

He noted the role that non-exchangeable tokens play in the global economy, noting that they have contributed on a large scale to the global economy, noting that by 2021 there have been investments worth $ 25 billion in this sector, emphasizing that there is a demand from citizens and residents of the UAE to buy this type of business, noting that this was well noticed in the exhibition “Gateway to the Metaverse”.. «

He continued: There is no doubt that this type of art greatly supported the global economy, in addition to cryptocurrencies that contributed to increasing the value of these works of art, which will contribute greatly in the future, as they take a path of growth and success of extraordinary..


On the factors and criteria that determine the prices of works of symbols that are not substitutable, he said: They depend on the names of artists and their fame in the artistic and creative community ofNFTsbecause the artistic community that surrounds him often supports him at the beginning of his career with irreplaceable symbols and the artist’s fame in the physical or traditional arts community does not mean that he will achieve fame in the community of irreplaceable symbols, they are two completely. different markets.

He stressed that there are other factors that contribute to determining business pricing, such as: marketing methods and their volume in job promotion, as well as the amount of business offered in the market..

global market

Julian Bruni, director of the private jewelry sector at Christie’s, confirmed that the market for non-exchangeable tokens has a global future, showing the desire of many artists and creators in the design, photography, painting and jewelry sectors to participate in this new. sector..

He continued: “I do not think that immutable digital arts will occupy the position of traditional classical arts, as each category of arts has its audience and we can not determine the market value of non-interchangeable arts and traditional classical arts, especially as it is a wide and diverse field in terms of money and cryptocurrencies. ”.

He pointed out that the “Rock Party” exhibition, which was recently organized by the house in Dubai, which deals with irreplaceable symbols, included 10 works by international artists who were inspired by their works from rock art concerts that characterized by loud and glowing colors..

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