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You are at:Home»Knowledge»Top 5 art terms important for collectors in 2023
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Top 5 art terms important for collectors in 2023

February 20, 20234 Mins Read
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The digital art world has experienced a paradigm shift in the last three years, partly fueled by the growth in the online art market, partly due to the pandemic and the increased adoption and affordability of new distribution technologies. 

The boom in NFT has dominated headlines, and the hype has somewhat overshadowed some of the most important changes. Throughout art history, artists have always been early adopters — and adapters — of new technologies, and that trend will continue as the market stabilises and the tech becomes more mainstream.  

Diving into this field, here are five essential terms that will aid you in navigating the rapidly evolving landscape of all things digital art. 

Media art

Media art is an expanding field that currently includes the design of mediated images, objects,  spaces, and experiences, film, video, computer programming, interactive animation, digital  fabrication, games, and virtual and augmented reality. The official standards define Media Arts as “a unique medium of artistic expression that can also amplify and integrate the four traditional art forms [dance, music, theatre, visual art] by incorporating the technological advances of the contemporary world”.

Post-internet 

Post-internet art follows other ‘posts’ that have infiltrated the art world, such as post-modernism and post-impressionism. However, post-internet art does not refer to art on the internet. It is art that came after internet’s proliferation, although it can also describe art that is about the internet’s effects on aesthetics, culture and society.

Programmable scarcity 

For art, authenticity, exclusivity and scarcity, are key features of their desirability and market value. NFTs, the abbreviation for non-fungible tokens, are unique digital assets on the blockchain. They are traded on-chain and can represent the ownership of artworks, collectibles, and even physical objects. They also act as on-chain certificate of authenticity and enable artists to determine the number of editions sold for each artwork as well as a method of tracking provenance.

Digital art preservation 

Digital art needs to be preserved in the same way any artwork needs to be preserved. However, digital art relies on software, and software evolves. It’s why the first smartphones made in the 1990s are of little use today because of the rapid technological change. And if truth be told, no one knows whether digital art made today can be preserved for the next 200 years. If the software that is used to make digital artwork becomes outdated there is a risk that it will disappear. Preserving digital art is a major challenge for the art industry, but it is one that many collections and companies are taking on.

On-chain storage

In storing digital art, one needs to ensure that the media file is securely saved in a storage system over time. With the increasing use of blockchain and NFTs as a way of distributing digital artworks, on-chain storage has also risen as a more secure method of storing digital files. To be fully on-chain, a token—its artwork file and corresponding metadata—has to be entirely uploaded onto the blockchain, as opposed to depending on cloud servers or peer-2-peer storage systems to store the artwork file separately. On-chain storage is a preferred route for artworks minted as NFTs because it means that users can verify all facets of the NFT in one place. On the other hand, storing digital art off-chain puts the collector at risk of a broken link between the image and the data – and ultimately, not being able to access the content they have bought.

In conclusion, for art collectors in 2023, being familiar with the top art terms is crucial for navigating the rapidly evolving landscape of the art world. Understanding the expanding field of media art and the concept of post-internet art provides insight into how digital technology is influencing artistic expression. Additionally, collectors must be aware of the importance of programmable scarcity, which is a key feature of desirability and market value in the art industry. Digital art preservation is another crucial aspect that collectors should consider, as it presents a major challenge for the industry, and on-chain storage has emerged as a more secure method of storing digital files. By staying informed about these essential terms, art collectors can make informed decisions, stay ahead of trends, and invest wisely in the rapidly changing art market.

Article By-
Clara Che Wei Peh
Art Dubai 2023 Digital curator

art and culture art curators Art Dubai artist digital art preservation on-chain storage post internet Social Media Art
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