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Record W4393004826 · doi:10.1080/09502386.2024.2329873

NFTs and the financialization of art

2024· article· en· W4393004826 on OpenAlexaff
Barbara Jenkins

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.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.002
metaresearch head score (Gemma)0.009
Version: metacan-v3-hybrid-931329e0061cValidation 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 score0.016
Threshold uncertainty score0.053

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0020.009
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0030.002
Science and technology studies0.0040.018
Scholarly communication0.0080.008
Open science0.0010.003
Research integrity0.0010.002
Insufficient payload (model declined to judge)0.0160.000

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

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designNot applicable
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations6
Published2024
Admission routes1
Has abstractyes

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