2022 Art World Divided by Wealth, NFTs Crash, AI Democratizes Image-Making

The contemporary art scene in 2022 displayed extreme divisions between financial and activist spheres. At auction houses like Christie's, prices reached $195 million for works like Warhol's Marilyn, normalizing nine-figure sales. Meanwhile, Documenta 15 under ruangrupa's direction exemplified 'NGO aesthetics' with reparative programming focused on care and limited-time events. Just Stop Oil activists gained visibility by targeting museum artworks with food, creating viral protest art. The commercial market favored both figurative and abstract painting by younger artists such as Anna Weyant, Louise Giovanelli, and Jadé Fadojutimi, often promoted through fashion magazines. Representation improved for women and artists of color with Black women winning the Turner Prize and Golden Lions at Venice, though museum acquisitions lagged according to the Burns Halperin Report. NFT values plummeted 60% during the cryptocurrency crash, yet artists like Ian Cheng explored dynamic uses with works like 3FACE (2022) that respond to cryptocurrency wallets. AI programs like Dall-E 2 and Midjourney democratized image-making, used by artists including Jon Rafman to explore grotesquery. Luxury brand LVMH was rumored to be acquiring or financing Gagosian, reflecting art's integration with high-end lifestyle through ventures like Hauser & Wirth's Scottish hotel and Frieze founders' restaurants. The year ended with art increasingly serving as a luxury accessory rather than a challenging medium.