TEJAS Journal of Technologies and Humanitarian Science

Prateeksha Pandey
Department of Computer Science & Engineering (AI & ML), KIPM College of Engineering and Technology
U.P., India

Author

Bhavana Gupta
Department of Computer Science & Engineering (AI & ML), KIPM College of Engineering and Technology
U.P., India

Author

Mansi Vishvakarma
Department of Computer Science & Engineering (AI & ML), KIPM College of Engineering and Technology
U.P., India

Author

Arpita Kumari
Department of Computer Science & Engineering (AI & ML), KIPM College of Engineering and Technology
U.P., India

Author

Anurag Singh
Department of Computer Science & Engineering (AI & ML), KIPM College of Engineering and Technology
U.P., India

Author

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Abstract:

The rapid evolution of blockchain technology and Non-Fungible Tokens (NFTs) has introduced a transformative paradigm for the creation, ownership, and exchange of digital and physical artworks. In the fine art domain, particularly for emerging and independent artists, traditional art markets often present significant barriers such as limited access to galleries, lack of transparency in pricing and provenance, delayed payments, and absence of long-term royalty mechanisms. This research paper proposes a blockchain-based decentralized NFT marketplace specifically designed for new fine art, with the objective of empowering artists, ensuring authenticity, and creating a transparent, trust-minimized ecosystem for collectors and creators alike. By leveraging smart contracts, decentralized storage systems, and standardized royalty protocols, the proposed system establishes immutable provenance, enforces fair compensation through automated royalty distribution, and reduces reliance on centralized intermediaries. The paper discusses the underlying technologies, system architecture, smart contract design, provenance mechanisms, legal and ethical considerations, and an evaluation framework to assess performance, security, and adoption. The study demonstrates how decentralization can redefine fine art commerce by enabling global accessibility, sustained artist income, and verifiable authenticity.

References

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