Investing in art through blockchain as a new phenomenon that will change the world
Why are there an increasing number of entrepreneurs and individuals looking for opportunities to buy and invest in art?
In general, the present time brings a great buzz and trend of contemporary art, living creators. People often buy art out of pure passion and taste. Furthermore, it grants them a high-status uniqueness within society. It's important to note that art is also, among other things, a relational and emotional investment.
Then there are those who collect art for profit, to diversify their wealth or as protection against inflation and currency depreciation. The best scenario is when you manage to combine both aspects - a beautiful piece of art with the prospect of significant appreciation.
The most important thing that should be emphasized is that art should be seen as a long-term investment. Getting rich overnight from investing is unlikely. Yet, if an artist works in the realm of NFTs and new technologies, they can achieve profits in a matter of weeks. However, it's essential to consider that the appreciation of quality works usually takes months and years. Innovations in marketing, timing, added value for investors, and the uniqueness of the artwork thus have a significant impact on preserving value or even achieving high returns on art investments. Generally, the art market can be considered relatively stable. Artworks are capable of maintaining their value over time and have low volatility during crises. It has also been demonstrated that the price of art doesn't necessarily rise or fall with the stock market, but rather follows its own laws and principles. This is why purchasing artworks is a great addition to an investment portfolio these days.