Arts & Technology: Digital Business Models in Performing Arts – Part 2: The Potential and Pitfalls of Non-Fungible Tokens

Circus News

Digital Business Models in Performing Arts – Part 2: The Potential and Pitfalls of Non-Fungible Tokens

The second episode of our “Digital Business Models in the Performing Arts” series covers the complex topic of navigating the digital frontier and highlights the potential and pitfalls of non-fungible tokens for performing arts practitioners.
Selling intangible, digital products to generate income is far from being a novel business model. The global digitalization of business models has reached a level where even the older consumer generations now embrace the concept of purchasing, for example, digital photographs, books, or tickets, making the ownership of digital assets a mainstream practice. In particular, among Generation Z, purchasing, selling, and trading virtual items is really as ordinary as buying a pair of trainers. These digital natives spend a substantial part of their social time immersed in metaverse gaming platforms like Fortnite and Roblox, exploring vast virtual worlds with their avatars and engaging in financial interactions with digital goods.  The potential of these virtual ecosystems and the consumer communities that reside in them has not gone unnoticed by commercial brands, who have begun to recognize the lucrative oppo...
Thanks for reading CircusTalk.News.
Support us by registering or subscribing!
To continue reading this article you must be logged in.
Register or login to unlock 2 free articles per month.
Or, EVEN BETTER!
FOR UNLIMITED ACCESS TO ALL NEWS CONTENT + JOB LISTING.

Do you have a story to share? Submit your news story, article or press release.

Kadja Manninen

Kadja Manninen is a researcher, arts manager and lecturer specialised in performing arts and digital entrepreneurship. Kadja has a background as a contemporary circus artist, and prior professional experience of working in diverse managerial and specialist roles in the creative industries. She holds an MA in Culture, Policy and Management from City, University of London, and is currently finalising her PhD in Digital Economy Research at University of Nottingham.