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

Theintersection of artistry and business has given rise to a burgeoning creativeeconomy, where young individuals now pursue education in creative fields suchas art, music, theater, and cinematography without hesitation. The businesssector, however, refines this creativity to generate revenue, transforming itinto an aesthetic economy. This economic model is evident in the fashionindustry, spanning from fast fashion to haute couture, and is now extendinginto music and video streaming platforms, digital books, and art collections.The aesthetic economy operates on demand-and-supply principles, where thescarcity of artistic commodities enhances their value. Emerging technologieslike Digital Service Providers (DSPs) and Non-Fungible Tokens (NFTs) play a pivotalrole in this dynamic, enabling the equitable distribution and commercializationof art. This study explores how the aesthetic economy validates the demand forart, driven by technological advancements, and how it fosters opportunities forwidespread participation in this evolving economic framework. Additionally, itexamines how this emerging economy can empower women, offering them new avenuesfor creative expression and financial independence.