The contents of this book deliberate on the questions related to the function of art and to aesthetics as they exist in the context of the most salient philosophical and cultural late modernist tendencies. The book extracts cornerstone elements of the ever-changing ways people of the 20th and 21st centuries experience the world, and highlights the relation between shifts in modern art, and the processes of fictionalization. Particular focus was placed on a phenomenological perspective. The publication introduces novelty by showcasing the links between reflecting on late modernity, and the philosophical concepts and methodological capabilities of phenomenology. It is a panoramic outlook over existing views, and simultaneously a self-sufficient theoretical proposal.