Blockchain technology entering art world

Art Plus Shanghai, a local art fair founded in 2019, will introduce blockchain technology to help artists protect their intellectual property rights at this year's fair.

"Digital artwork, cryptocurrencies and the new technology might be a compensation if we wanted to upgrade our art fair into a 2.0 version," said Gu Chen, the fair director. "Through collaborations with our partners, blockchain will not only provide more stable development in the art market, but also long-term, legitimate intellectual property protection for artists."

According to Gu, the introduction of blockchain will narrow the public gap between the recognition and application of the new technology in the art arena.