Lyona Grace

IDNFT, Indonesia

Title: Art in the Age of Technology: The Dynamics of the Aesthetic Economy

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Biography

Lyona Grace is a dedicated independent writer with a focus on the intersection of art, technology, and economics. With a background in music, she has explored the impact of emerging technologies on creative industries. Her work emphasizes the transformative power of aesthetic economies and aims to contribute to a deeper understanding of how art and commerce coalesce in the modern world through IDNFT, the biggest NFT and WEB3 community in Indonesia.

Abstract

The intersection of artistry and business has given rise to a burgeoning creative economy, where young individuals now pursue education in creative fields such as art, music, theater, and cinematography without hesitation. The business sector, however, refines this creativity to generate revenue, transforming it into an aesthetic economy. This economic model is evident in the fashion industry, spanning from fast fashion to haute couture, and is now extending into music and video streaming platforms, digital books, and art collections. The aesthetic economy operates on demand-and-supply principles, where the scarcity of artistic commodities enhances their value. Emerging technologies like Digital Service Providers (DSPs) and Non-Fungible Tokens (NFTs) play a pivotal role in this dynamic, enabling the equitable distribution and commercialization of art. This study explores how the aesthetic economy validates the demand for art, driven by technological advancements, and how it fosters opportunities for widespread participation in this evolving economic framework. Additionally, it examines how this emerging economy can empower women, offering them new avenues for creative expression and financial independence.