The impact of non-fungible tokens (NFTs) on intermediaries in creative industries: studying business model innovations of art galleries

Abstract

The Non-Fungible Tokens (NFTs) and blockchain technology are a recent technological and innovation phenomenon that has attracted a lot of interest from researchers, economists, and entrepreneurs, along with the markets in which they operate. Lately, one of the most curious markets dealing with NFTs has been the art market. With this Master Thesis, I have conducted a theoretical background research and a business case study to see how this technological innovation impacts the art market and the business model of one of its most critical actors (i.e., the art gallery). The study of business model innovations helps to understand how the business evolves and what are the best suggestions for the managers of these businesses.