Using NFTs as an Innovative Marketing Strategy in Art Expos—Case Study on ART TAIPEI 2021

WEN Chia-Wei
Adjunct Assistant Professor at the General Education Center, National Taiwan University of Arts.


The hosting of art expos is a crucial sales event for galleries. This study aims to explore the changes, innovations, and outcomes in the marketing strategies of art expos amidst the changing times, particularly focusing on ART TAIPEI 2021 (Taipei International Art Fair) as a case study. This study was conducted through literature analysis, participant observation, and interviews. The Taiwan Art Gallery Association, in collaboration with EchoX Technology Co., Ltd., which provides Non-Fungible Token (NFT) management tools and online curation expertise, built an online virtual exhibition space to allow viewers to directly connect with NFT trading platforms to purchase artworks. The main findings were as follows: 1. Millennials and Gen Z have a positive attitude towards viewing exhibitions in online spaces and are interested in using NFTs as certificates for purchasing artworks, more so than Baby Boomers and Gen X; 2. Against the backdrop of the COVID-19 pandemic, the online virtual exhibition space transcended time and space barriers, enabling overseas collectors to purchase NFT certificates before exchanging them for physical artworks, thereby increasing gallery sales channels; 3. Digital currency holders were willing to collect and purchase NFTs because of their ability to use cryptocurrencies for transactions. With widespread Internet usage and the significant increase in screen time among individuals, effectively capturing audience attention and interest is the key to marketing success in today’s fast-paced and attention-divided world. Organisers must devise more diverse and innovative marketing strategies to attract viewers. This situation aligns well with the principles of the 4Is marketing theory, comprising the following aspects: interesting, interests, innovation, and interactivity. Therefore, this study utilises the 4Is marketing theory for analysis. Finally, this study makes the following recommendations: 1. In issuing NFTs, cost and accessibility make crypto collectors more willing to purchase, which is why the lower the costs, the lower the entry barrier for the general public; 2. User Interface (UI)/User Experience (UX) design directly impacts the end-user experience. Considering the current technological progress, it is recommended for artworks placed in online exhibition spaces to be predominantly flat, incorporating creative content that is not overly complex or intricate to avoid visual distortion; 3. Given the rapid and irreversible advancement of technology and the unstoppable trend of using NFTs as art tools, organisers should invest more in research to maintain their market competitiveness in the future.

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