Analyzing NFT Art in Mainstream Art Market Discourse using Corpus-based Critical Discourse Analysis and its Implications on the Political Economy of Digital Art
Utilizing critical discourse analysis in conjunction with corpus linguistics tools, we will investigate the language and narratives surrounding NFTs in the art market through a corpus of key textual references. Our analysis will focus on the framing and discursive representation of NFTs in three key economic reports related to the art market in 2023. Additionally, we will delve into the political economy of art to examine the relationships between NFTs, the art market, its institutions, and broader economic systems.
Analyzing the three art market reports using Critical Discourse Analysis (CDA) and corpus linguistics tools will involve a detailed examination of the language, tone, and framing within the reports. The objective is to unveil underlying assumptions, ideologies, and power dynamics related to the contemporary art market, particularly in terms of analyzing the discourse around NFTs and digital art. This analysis will focus on the language of market valuation, economic impact, art market forecasting, and trends.
Through CDA and corpus linguistics, we will investigate how the reports frame NFTs and the NFT art market in relation to economic value and impact. This analysis will explore the choice of words, statistics, and metrics used to describe the market’s size, growth, and performance, revealing assumptions about what is considered valuable in the art world. Additionally, it will shed light on how the reports reinforce or challenge dominant narratives about the market’s relationship to broader economic trends and global financial systems.
Given that the reports cover recent developments in the art market, including digital art and NFTs, CDA will be applied to examine how these emerging art forms are framed in the reports. This analysis will explore assumptions about their value, significance, and potential impact on the market, as well as their positioning in relation to traditional art forms and the broader art market landscape.
Art market reports often contain forecasts and predictions about future trends. CDA will be used to analyze the language and framing in these sections, exploring assumptions about factors driving market change, the involvement of stakeholders in shaping trends, and how the reports either reinforce or challenge conventional wisdom about the art market’s trajectory.
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