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Digital culture and the NFT phenomenon: a comparative study between Lithuanian and Spanish creators
Date Issued |
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2023 |
The extraordinary development of IT (Information Technologies) occupies a central role in the transformations that define today’s world. The digital environment becomes a stage for mediation in communicative, social, economic, and cultural processes. In this context, the research addresses the broad concept of Digital Culture, understood as the set of technologies, practices, attitudes, ways of thinking, and values that flourish hand in hand with cyberspace. More specifically, it focuses on the phenomenon of NFTs (NonFungible Tokens). NFTs serve as titles for unique digital items. They are becoming prominent in digital art, based on the blockchain technology system, which includes information about the work, the owner, and the rights of use, thus providing proof against counterfeiting. The research’s general objective is to compare digital culture development in Lithuania and Spain. In addition, specific objectives are posed: to measure the degree of implementation and use of NFTs; to know the economic and legal structures that support this system; and to explore the possibilities that NFTs offer as a monetization element in a new, more sustainable business model in which the environmental impact does not exist or is minimal. Methodologically, a literature review is complemented by desktop research to portray the global scenario and conduct a comparative study. Researchers from both countries collaborate to develop the investigation from a local perspective, promoting a more profound knowledge of each study area and enriching the subsequent comparative analysis. The results reveal some contrasts between the digital culture model in Lithuania and Spain and the different phases of the NTF phenomenon implementation. Both countries present essential differences in geography, demographics, climate, IT use, and cultural market. However, both countries have a common regulatory framework under the EU umbrella. Also evident in both is the accelerated implementation of AI (Artificial Intelligence) as an instrument of artistic creation. The research will be relevant since it addresses a thriving topic that is in continuous and frenetic evolution. Among the conclusions, the following should be highlighted: the approach to the controversial concept of creators’ rights, the paradigm shift in the new relationship between creators/disseminators and consumers/receivers, or the possibilities of creating a more sustainable business model with lower environmental impact.