Formation of the NFT Market in the Context of Reconstruction of the Economy of Ukraine

Анотація

The purpose of the article is to research and summarize information about the main aspects of the formation and development of the NFT market and crypto-art for the recovery of the economy of Ukraine. The research methodology consists in the application of a historical-systemic method to study the emergence and development of the NFT market and cryptoart, which provides a basis for understanding how NFT prices can change according to market development. The methods of comparative analysis and historical-cultural approach were also used, which helped to identify the main trends in the development of the NFT market and cryptoart. The scientific novelty lies in the fact that for the first time the formation and application of the economic practice of the NFT market and crypto-art has been systematically studied in order to use this experience for the development of the country’s economy. Conclusions. Information on the main aspects of the formation of the NFT market and crypto-arts for the recovery of the economy of Ukraine was thoroughly analyzed. It was determined that the sale of unique works takes place through an auction, where the owner sets the starting price of the lot, therefore it gives prospects and influence on the creation of new potential areas of economic development both in Ukraine and in the world. The research proves that the NFT market can become a driving force in the modern economy as it strikes a balance between art and business.

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