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How traditional artists are using Web3 to meet new audiences

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I’ll be honest – I don’t even know how to buy a Monet or a Gauguin. I suppose I could put on my finest overcoat and head to a Christie’s auction, but I don’t actually know where the auction house is and expect that my lack of connections and empty pockets would exclude me from any of the good stuff.

I am certain that I am not alone in my ignorance–which explains why once-exclusive artists like Jeff Koons and Takashi Murakami have emerged from the mist to flog their art in Web3 form, allowing anyone with the funds to trade fine digital art on platforms like OpenSea or Rarible.

For a period in 2021, it looked like the mission to reach those wet behind the ears with NFTs had worked – at least for the artists, and for a while. Digital-native Beeple collected $69 million from one sale in early 2021, but Murakami missed the mania and launched his collection shortly before the market crashed this spring. “I am very sorry,” he tweeted after the prices of his flower NFTs wilted.

Still, other fine artists have found fresh hope in the space, believing that NFTs could help…

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