Contemporary art is in a state of value collapse, which is the result of different factors: the process of art and reality becoming one, the influence of information technologies, globalization, and commoditization. On the one hand, the globalizing world finds it increasingly difficult to find intersections, which makes it impossible to establish collective and shared values and norms, and on the other hand, voluntary living in simulated informational realities breaks the connection with reality, leading to living instead in the giant simulacrum of hyperreality. The universal commoditization and the turning of art into a fetish create an anti-cultural situation in which there are no areas left outside of monetary exchange. All these factors influence the erosion of artistic values. The final stage of this process is sacralization through destruction and immortalization through the annihilation of the work of art.
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Nikolina Deleva (2024) studied this question.
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