However, galleries will have to take account of how NFTs are changing the art world. The NFT space embraces decentralization, and a democratic ethos, said Lavalette and Davis Burns. "In this there is naturally a rejection of institutions and gatekeepers," they explained. "This is a healthy rejection, which creates new opportunities for creatives to build value around their work in other ways—namely, through community. Artists are finding success in growing audiences for their work without the need for galleries, museums, etc., and at the same time forging deeper direct connections with collectors."

Galleries—along with museums, auction houses, individual artists and tech partners to the arts—will still have their part to play in "expanding the sharing culture in the art world," said Kasimov. Museums, he added, are "in an unique position to contribute to this shift," thanks to the "expertise of the curators and staff members and stored, the network of their connections, and the concentration of attention around them."