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Record W4393004826 · doi:10.1080/09502386.2024.2329873

NFTs and the financialization of art

2024· article· en· W4393004826 on OpenAlex

Why this work is in the frame

A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.

affAt least one author lists a Canadian institution in the pinned OpenAlex snapshot.

Bibliographic record

VenueCultural Studies · 2024
Typearticle
Languageen
FieldArts and Humanities
TopicArt History and Market Analysis
Canadian institutionsWilfrid Laurier University
Fundersnot available
KeywordsFinancializationEconomicsMarket economy

Abstract

fetched live from OpenAlex

The explosion of the NFT market has resulted in the unprecedented financialization of the art world. While some view NFTs as another move toward the complete financialization of social and cultural life, others argue that NFTs circulate in a decentralized marketplace outside the confines of traditional art world gatekeepers, providing opportunities for people previously excluded from an elite art world. This study finds that gatekeeping structures and market centralization are prominent features of NFT trading. Trading is dominated by a small, oligopolistic group of wealthy traders and a variety of gatekeepers who can manipulate prices. On the other hand, the practice of paying artists royalties on secondary sales of their work is a major step forward that could affect the non-blockchain art world as well. Whether this becomes an established art world convention will depend on the ability of blockchain artists to defend this practice from current trends toward its erosion.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.000
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Not applicable · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.821
Threshold uncertainty score0.193

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0000.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.000
Science and technology studies0.0000.001
Scholarly communication0.0000.000
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.051
GPT teacher head0.269
Teacher spread0.218 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it