At the frontier of the metaverse: NFTs, artistic expression, and digital immersions

Abstract

This paper explores the multifaceted landscape of Non-Fungible Tokens beyond their role in digitizing artworks. It delves into the intersection of art, utility, and cultural preservation within the NFT realm. The discussion revolves around the duality of “art for art’s sake” and functional utility, sparking ongoing debates about the essence of art in both the analog and digital realms. The convergence of contemporary aesthetics with practical token utility challenges conventional definitions, offering an alternative to narrative retrieval and contributing to cultural preservation in the virtual sphere. As one enters the NFT ecosystem, a utopian quest for autonomy in healthy production becomes evident, albeit not without formidable obstacles. The paper examines the promise of NFTs to liberate creators from intermediary control and the entwined complexities accompanying their evolution. It sheds light on the cautious and ethical approach required for the mass adoption of these technologies, contrasting this with the current global context characterized by rampant consumerism, individualism, and the relentless pursuit of easy financial gains.