While the art and entertainment industry may have suffered more than any other during the pandemic, there are many signs that new technologies will help struggling artists make a comeback.
A recent study by the ART+TECH Collector’s Edition found that 80 percent of its collectors had purchased at least one work of art on the Internet. Also, 78 percent of survey respondents who bought the art online had not seen the work in-person prior to the purchase.
That shouldn’t be too surprising. Pretty much any commodity can now be bought, sold and traded online, but the new technologies emerging now give artists more power to create advanced works of art and improve their ability to personalize the online shopping experience for potential buyers.
Here are three of the most interesting tech trends coming to the art world.
3D Motion Graphic Design:
Visual artists are increasingly interested in exploring the intersection of the online world and the real one. One of the most interesting new breakthroughs is digital 3D motion graphic design.
This fascinating new art form empowers artists to create 3D motion graphics that reimagine cities with gigantic animations. Vadim Soloviov (@solovyewadim) created a vision of Saint Petersburg with an armada of stingrays flying across the sky. ShaneF (@shanef3D) filled corners of New York with playful 3D art such as floating hearts.
Collectors are always looking for art that exists on the frontlines of culture and technology, so we can expect 3D motion graphic design to grow immensely in the near future.
Online Communication:
Another finding from the ART+TECH report was that collectors have begun to expect more from the online sites and portfolios of artists and art galleries.
In fact, two of every three users in all the sales formats surveyed by ART+TECH said that they would prefer the ability to have real-time communication as part of the art-buying process.
We can see this trend in the eCommerce industry, where AI-driven personalization for customers, both new and returning, has become the most important way to stay in business.
This trend is just common sense, said Thomas Kane, a Chicago-based private wealth manager and art aficionado.
“Even if commerce has moved online, many people still want the customer service experience that makes them feel good about their purchase,” Kane said. “For artists trying to get ahead, I think that making sure that someone is available to communicate with potential buyers could be the most effective way of growing their business.”
NFTs:
And finally the elephant in the room.
Anyone who reads tech or finance news on a regular basis will have heard of NFTs this year. If you were an early adopter of crypto currency, then you might have known about this earlier.
Regardless, sales of NFTs have surged in popularity in 2021. Sales volumes of non-fungible tokens grew to $10.7 billion in the third quarter of 2021 — an eightfold increase over the previous quarter, according to data from market tracker DappRadar.
NFTs use blockchain technology to record the ownership of digital files, including artwork, videos, music and items for video games.
The popularity of NFTs, which have no physical counterpart, continues to confuse many people, but the trend is unlikely to slow down any time soon.
“And I am certain that, for the NFT world, this intersection of intellectual and financial value has the potential to matter a lot,” Michael Maizels wrote for TechCrunch. “More than almost anyone realizes.”
Like all industries, the art world is witnessing a technological revolution. Artists who understand how to leverage these new trends will likely become the household names of tomorrow.
