In a nutshell, the metaverse is a virtual reality environment in which users can explore persistent places that continue to exist even when they are not logged in, interact with other users, play with digital items, and participate in various activities. It blends several technologies including blockchain, augmented reality, and virtual reality to form a connected digital space. It doesn’t require that this space be exclusively accessed via the aforementioned technologies. Within this immersive world, users can explore and create content, complete virtual transactions, and participate in virtual events.

From virtual to physical experiences

Virtual art galleries in the metaverse have evolved into a place where artists could display their NFT artworks. A Non-Fungible Token (NFT) is a unique identifier recorded on a blockchain that points to a digital file such as an image, video, or music. The blockchain technology offers a revolutionary way of validating digital asset ownership and authenticity, allowing collectors to buy, sell, and trade digital art with confidence. Essentially, virtual art galleries seek to mimic the physical gallery experience by providing exhibition halls. Visitors can virtually navigate through different rooms or endless walls, each featuring digital artifacts in the form of high resolution images, videos, or interactive experiences.

In contrast, a physical NFT art gallery is a real art space which display intangible assets in the form of NFT in a minimalistic place. These galleries typically present the digital artworks on extra-large screens, huge LED facades, or wall projections. The physical gallery space may also incorporate interactive elements such as QR codes or touch screens, allowing viewers to get additional information about the artist or play with the artwork. Some galleries feature movable walls to leverage a modular experience of the space and adapt it based on the requirements of different exhibitions.

The appeal of a combined experience

While some art galleries are inherently virtual, others are completely real. Each structure has obvious advantages and discomforts, but it might be interesting for one gallery to explore the convergence of the two models. In fact, people could choose to visit an exhibition in a real location or experience the same exhibition in a virtual space, especially if they are not living near the gallery’s space. One gallery can also choose to host two distinct exhibitions, bridging the gap between the traditional art world and the digital art community. Some NFT marketplaces such as SuperRare have opened popup galleries where people could look at digital art in frames on the wall.

Digital artworks have long been part of the traditional art ecosystem but the NFT boom propelled many of these works into the mainstream. Although many platforms have sold digital assets outside the art market, there have been recent examples of convergence. For instance, major institutions including museums and even auction houses have decided to exhibit digital items alongside traditional art forms, recognizing the cultural impact of NFT art as well as attracting a new generation of collectors. One example of this is Refik Anadol’s Unsupervised (2021) organised by the MoMA, which displayed multiple AI-based abstract images representing interpretations of the museum’s wide-ranging art collection.

A look into future experiences

NFT assets have quickly become essential in the development of the metaverse. However, the initial idea of limiting NFT to digital art has gradually faded as the demand for NFT items has declined, and new uses for the underlying technology have emerged. Until recently, many wondered whether the emergence of NFTs would be fleeting, but things have accelerated rapidly since then. Now investors will be tempted to reassess their strategies and monitor warning signs, as companies are becoming increasingly cautious and gradually losing interest in the metaverse. So, the focus is less on rising prices and speculation, but more on the long-term impact of blockchain applications on the art market.

As the digital art world evolves, the hallmarks of what constitutes a gallery will continue to disappear. Like other art institutions interested in NFT, digital art galleries will likely play a significant role in the future of art. They will foster social and cultural transformation and radically change the way we perceive and experience artistic expression as NFT technology and the metaverse continue to grow. Integrating an improved blockchain technology into the art world will open up exciting possibilities such as responsible ownership or global accessibility. The design of new art galleries that will seamlessly blend the real and digital worlds in a unique way will create a sustainable and future-oriented space.