7 THINGS YOU SHOULD KNOW ABOUT NFT CRYPTO ART!
April 12, 2021
If you are an artist I would suggest for you to immediately read this article. Especially if you are a 3d artist or designer!
Have you ever heard about NFT Crypto Art? If the answer is ”No” then you should better take a look forward and start caring now! If the answer is “Yes” then let me break it down to you in these 7 simple parts. Anyways, NFT Crypto Art is something brand new, and getting ready to ride this upcoming wave as soon as possible can only be a blessing! So, Let’s go…
1. What Exactly Is NFT Crypto Art?
In case you don’t know what NFT Crypto Art is let me introduce you to it in a few words. NFT Crypto Art is art, only that this type of art is linked to an NFT (which I will explain in this blog post later). It is mostly digital and it can exist in any format. It is mostly traded in jpeg format as most of the artworks you can discover are of 3d renders or digital paintings. But of course, you can find it in many other forms such as videos, mp3s, gifs, photos, etc… Even a tweet can be considered and get sold as a form of NFT Crypto Art, or a scanned rare concert ticket, or a physical painting that you made and scanned or took a photo of it. And as this whole thing keeps growing you will see that it will keep coming in many other forms. But whatever the form or the subject is, it is needless to say that you must be the proven and certified owner of it. It is directly correlated with cryptocurrency and it could be easily considered revolutionary in the art world nowadays. Also, many deeply involved people believe that NFT Crypto Art is the future of art too!
In conclusion: NFT Crypto Art is any form of art related to cryptocurrency and directly linked to Blockchain technology.
2. What Are NFT And Blockchain?
NFT stands for Non-Fungible Tokens. Each NFT belongs to a digital list of transactions called Blockchain. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. In the simplest terms, Blockchain can be described as a data structure that holds transactional records while ensuring security, transparency, and decentralization. You can also think of it as a chain of records stored in the forms of blocks which are controlled by no single authority. And if you didn’t understand yet, in more simple words it is just a really powerful way for validating the ownership of something, and that’s what makes it so special. For example, taking a screenshot of an image or just saving it on your computer doesn’t make you the owner of it. Just as in the physical world, taking a photo of a Picasso painting in a museum or buying a print of it doesn’t make you the owner of the authentic painting. You have to buy the original one so you can claim to be the owner.
So, blockchain plays the exact same role in the digital world. And such as you would secure a famous piece of art in a vault or a strongroom to protect it from thieves, blockchain does the same while making it impossible to be hacked to provide you security from a similar situation.
3. How Does It Work Or Pay For An Artist?
Digital artists used to release their work only for Instagram likes and they will still keep doing it. But those likes can’t definitely pay the bills! Or more physically you can also liken this situation to modern street art. For example, Someone passes by a graffiti/ street art piece on the wall, admires it, gets the message you are trying to communicate but that’s all… The same thing happens on social media. Someone scrolls down, sees it, gets it, pushes the like button and that’s all. But now things have come to change as the digital world and technology changes!
Let’s assume that you are an artist. You post your artwork on one of these NFT Crypto Art trading websites that I will mention later. You set a starting price for it and the auction begins when the interested buyers start placing their bids and the auction ends. Once the artwork is sold though, you can keep earning from it every time someone resells it to another collector by claiming your royalty fees. So every time an artwork of yours is resold in an auction or whatever, you get to receive a percentage of the price it has been resold. Almost like an auction of a famous physical painting but more profitable for the artist. Isn’t this really cool? Oh, YES it definitely is! So if your artworks are that good you can keep making a profit for many many years by just doing nothing.
Another important thing to know is that you don’t necessarily have to sell a single copy of each artwork. You can easily sell more of them or you can make some series of artworks that have some consistency. Sometimes this way can be more profitable as people usually try to buy other pieces from another collector after they miss the first ”auction” so they can complete the whole collection. Just make sure you manage your art right and everything else will fall into place…
4. Why Should Someone Be A Collector?
There are two answers… You either love art or you just want to make some money. Or both! But let’s be honest, for most people making money through this is the real inducement. And how does that happen? It’s real simple: At first, you buy a piece from an artist or another collector. The closer you are to the source the lower the price will be… Then you resell it to other collectors for a much higher price or you can just keep it for as long as you want. Of course, it’s at your own discretion about how much higher the price will be and it also depends on how much fame the artist that it comes from has now or gains in the future. And
If this isn’t convincing enough to you, then just do research about how many pieces were bought for like 1$ and by the time they got sold for thousands or even millions of dollars! I double dare you to Google it…
Lastly, in my opinion, trying to aim to upcoming -but not so well known- skilled artists is a wise way to have better earnings. Because usually, not well known artists tend to sell their art cheaper but as long they start getting some fame, their prices can skyrocket really high!
5. How Can I Apply?
Some many websites and apps that will help turn your art into NFT or buy NFTs. Some of them are superrare.co, niftygateway
A major setback you can face is that in many of these websites you need a member invitation to join the platform! But this fact is not only a setback but a benefit too! And the reason I personally believe that, is because in more ”private” platforms you can usually find more of the ”elite” people involved. People who are trustworthy and take their business seriously. So if you are one of these individuals too, but you have no acquaintances of friends that can open the door for you with an invitation, I would suggest that you join some social media communities, groups, and pages (usually on social media platforms like Instagram and Facebook) and start communicating with other users and members showing your intentions or work.
After you get someone’s attention I am sure they can choose to invite you in one of these more private communities. I reassure you that it is well worth it!
6. Can NFT Crypto Art Replace Your 9 To 5?
To be honest I would mostly suggest it as a way to support your work and your finances… But as long as you already have a strong fanbase and you make sure that you are working hard, the prices of your artworks can launch rapidly. For example, check out Beeple. Beeple has absolutely put in work! And this work definitely paid off if you consider that his latest release was sold for 69.3 million dollars at Christie’s Auction House! And that’s just one of many cases. I would also suggest you to keep NFT Crypto Art as a side hustle as it is more a long term source of income for most people and not a way or lifehack to make a quick buck. Unless you are that good and truly believe in yourself and your artistic or marketing abilities! You never know how beneficial it might be to you, so why not give it a chance among all the other stuff that we do to improve our quality of life and our earnings?
I kept this one for the end because in my opinion this thing is the real deal! Think about a place where your artworks come to life! Can you imagine an artwork that with time can change its form and evolve every time someone interacts with it? Well, there is such a place (-actually it’s a platform. Haha!) and it is called Async! So there are certain parameters such as time, stocks, weather, and other data that a piece of art interacts via a programmable code so it can create limitless possibilities for the designer and the collector! So what you do is to come up with a concept and think about the variables you want to set for its evolvement! Then you create the artwork and its procedural steps depend on the variables you set. After you complete the creative part you just upload a master of your artwork and stack the layers that are going to unfold in each step and wait for the collectors to leap at it. Remember, the only existing limit in this brand new platform is your own imagination!
So, these were 7 basics about NFT Crypto Art you should be aware of! I really hope I left a good insight for you in this blog post. Of course, this is a much longer subject to analyze. But my role stops here and I would really like to challenge you to also make your own research and get involved in it in any way you can! I reassure you that it’s worth giving it a try!
As always, I would like to thank you for your time! If you are interested in these kinds of posts and have other topics that you would like me to write about then you can always feel free to message me on social media and start a conversation about any artistic or design subject!
I am wishing prosperity to all of you!