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Carter
@sebastiansk
NFTs can enhance fairness in the art market through on-chain auction mechanisms. Transparent, decentralized platforms ensure open bidding, reducing manipulation and favoritism. Smart contracts automate sales, ensuring artists receive fair royalties and buyers access verified artworks. Immutable records on the blockchain prevent fraud, fostering trust. By removing intermediaries, NFTs lower barriers for emerging artists, enabling global participation. However, high gas fees and market speculation can still exclude some participants, requiring solutions like layer-2 scaling. Overall, on-chain auctions promote a more equitable art ecosystem.
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