As everyone is getting so expressive in conveying their sense of creativity, the advancement of art is inevitable. It is also supported by the development of technology, making it possible for arts to also be created and sold digitally. Digital artworks require an equal amount of skills, talent, and creativity as any other form of art. Therefore, digital artworks should also be easily accepted and produced as a source of income for the artist.
Non-Fungible Token, or NFT, comes as a practical solution for artists to make their digital artworks financially valuable. The digital artworks that are sold here often successfully gain global attention, raising questions from millions about it. If you are also tempted to find out, just keep reading!
What is NFT Artwork?
In simple words, NFT artwork means digital art cannot be duplicated, and the authenticity is guaranteed. Note that digital artists often face issues in proving the authenticity of their works since they can be copied and shared freely through social media.
NFTs strictly defend the authenticity of the art so that the artists can protect their works. Every piece of artwork will be automatically embedded with a certificate of authenticity, which will securely confirm the identity of the original artist. Of course, anyone can take a screenshot of the NFT that an artist owns and share it or use it as a picture profile, but it is not the same as legally owning the real asset.
The artworks are released as crypto tokens that can be accessed and exchanged on the blockchain technology. It is exchanged online through a nft marketplace such as OpenSea and frequently utilizes cryptocurrencies like Ethereum to facilitate the transaction process.
How Much My NFT Artwork Can Be Sold?
Every artist can actually decide how much money their art can sell since there are no rules of pricing. However, it is important to do some research to price the art so you will have a suitable price that is worth your effort and talent. You can also let the buyers decide, and you will still have the right to decline the offer if you think it is too low.
The artistic item that is sold can surprisingly reach a fantastic amount of money that will make your jaw drop. For example, Nyan Cat NFT, which was an animation that became an internet meme sold for 300 ETH or $600,000 in an online auction. It undoubtedly paves the way for more expensive NFT sales.
One truth about art, both physical and digital, is that the rarity of art will impact the price of the art itself. A piece of unique art is more valuable than art with several editions. There are so many talented NFT artists, so you have to find your true identity and uniqueness to make your art special.
It is natural for a new artist to set the price low since they have not gotten the recognition yet. New artists can sell their decent work for 0.02 ETH and gradually set the price up once they gain attention from buyers. NFT artwork surely can be a source of income if you, a digital artist, are willing to commit to it.
Why Is NFT Getting Attention from the Art Industry?
There are several reasons that contribute to the attention gaining of NFT in the art world.
1. Exquisite Freedom
Art has the power to express how you feel, think, and see something. Along with that, the NFT system comes as a means of expressing your creativity freely. You can sell your unusual, daring art, and instead of getting hatred, you will get the attention of the buyers, and even your art can be considered unique. In this way, NFT has successfully allowed digital art to be more accommodating, making it much more acceptable to the art world.
2. Your Art is in Your Hand
Physical art mostly relies on the gallery to help the artist to show and sell their artwork. They surprisingly take a huge amount of commission from your artwork, up to 50%. Digital art does not require an art gallery to showcase. Everything is completely online. You can sell pieces of your art anywhere in this world without big cuts from middlemen and expenses on maintenance. You can also join groups of NFT artists to make some connections and share useful information to help you establish your digital art career.
3. Proof of Future
The existence of NFT becomes proof that technological development has a strong power to change the world to be more convenient. NFT can be used beyond digital artworks, helping to solve cases in a variety of sectors, from medicine to real estate. Since NFT provides transparency and security, it can assist voting and real estate transactional activity, as well as medical records. No need for physical documentation because NFT can provide a digital identity for everyone.
4. Digital Artwork Ownership
Digital artwork acts differently from physical artwork, where the artist can easily put their signature on the corner of their painting without worrying it can be cropped out and claimed by someone. Digital artwork needs concrete proof of its authenticity, and NFT can provide that. Each of your digital art will have its information recorded in Blockchain, making it useful to track ownership and hard to scam.
5. Global Reach
Not every artist is privileged to hold an exhibition that costs much to show their work. NFT can be the solution to let every artist sell their artwork online without having to make real-life events or exhibitions. NFT also ensures every artist the exposure to global reach, giving tons of chances for your digital artwork to be seen.
Will NFT Artwork Prevail?
Although it has up and down stages, we still can see so much potential in maintaining the existence of NFT since it gives so many advantages for digital artists. Moreover, we are heading into a more major digital age where everything is made digitally, including art, making digital artwork grow faster than ever.
NFT artwork gives a new meaning to the digital artwork, letting it grow and transform into a more defined and mature work of art. Its emergence comes as a new star with its light leading the way to an exciting and convenient future, giving a chance for everyone to express their creativity through technology and digital.