What is hot like a summer day in NYC right now? (And yes, we know it isn’t summer yet!). According to Google Trends, NFT or Non-fungible token, as well as Gallery weekend and the MET, have all eyes on them currently. Is this surprising? Not really. With sales beating record since March, getting the attention of renowned auctions house and articles about if gallery weekends the new art fairs if you haven’t been living under a rock, these aren’t much of a surprise. But what is it about the MET? There has been no first Monday of May gala – so why it’s making the news right now?
NFT | non-fungible token – AGAIN?
Be ready to see this as a trend for a couple of months, even years. Who knows if this is a bubble or if it will become a household staple of the Art Market? If you want to know more about NFT, we have published posts in recent weeks. You will find them highly enlightening!
Finally, make sure to keep an eye on our weekly art market recap every Friday!
Gallery Weekends Buzz
They are sprouting from everywhere like fairs started to mushroom in the 2010s. Are Gallery Weekends the new replacement of art fairs? With (still) limited travel, is it time to bring collectors back to galleries and cultivate local culture? Has the pandemic brought back with it a return to micro-tourism and the local economy? The art market doesn’t seem immune to its effect, and with more disposable income to spend, as people have saved on other luxuries for the past 18 months – will art pick up? Gallery Weekends have recently happened in Beijing, London, Berlin and Montreal, to name only a few! We would love to know your thoughts on this!
The MET, short for the Metropolitan Museum of Art of New York City had been in the news recently. First, for the new Ian Denyer’s three-hour documentary “Inside the Met” but mostly because last week, it announced that they would be returning 3 objects to their original country Nigeria.
While repatriation has been a hot, very hot topic in recent years, a shift in attitude in the museum world. As Alhaji Lai Mohammed, Nigeria’s minister of Minister of Information and Culture said:
“Nigeria enjoins other museums to take a cue from this. The art world can be a better place if every possessor of cultural artifacts considers the rights and feelings of the dispossessed.”
We can’t wait to see if others will follow. Story to be continued!