Non-Fungible Tokens have officially taken the number one spot on ArtReview’s Power 100 list this month. What sets it apart is the fact that NFTs were able to beat out prominent members of the art community – demonstrating its position as a ground-breaking technology, cutting across the industry.
The ArtReview Power 100 was a way to concisely demonstrate the ways in which certain ideas have influenced the world of art as opposed to specific works of past and present.
Non Fungible Tokens have demonstrated a wealth of utility, both in the gaming world and beyond. Given the unique technical features of NFT; immutability, sovereignty and security, it makes sense that they would make such waves in the art world.
“NFTs have turbocharged a new crossover between pop culture and contemporary art, even if you can’t avoid the fact that the NFT explosion is driven by a feverish speculation over cryptocurrencies,” JJ Charlesworth, editor at ArtReview, said.