NFT, THE DIGITAL AGE IS BEING CONSOLIDATED IN THE WORLD OF ART.
NFT, THE DIGITAL AGE IS BEING CONSOLIDATED IN THE WORLD OF ART.
Most of the art online shops are selling NFT, it is quite significant information to know that digital art is booming.
Beeple crypto art
One of the best-selling NFT digital artists in the world is Beeple, he set the record for the most expensive NFT in history for having sold in March 2021 «Everyday’s – The First 5000 Days» for 69 million dollars at Christie’s auction house and Be part of the most famous and expensive NFT in the world.
Everyday’s, The First 5000 Days. The artwork is created by Mike Winkelmann, artistically known as Beeple. The digital artwork is a collage of 5,000 digital images created by Winkelmann for his Everyday’s series. Winkelmann created a part of the artwork every day for 5,000 days.
The work consists of individual pieces created with a wide variety of digital abstract art images and images that vindictively represent current US society. The work has 21,069 x 21,069 pixels. Everyday’s, The First 5000 Days was the first work to be sold with Cryptocurrencies.
Sophia robot art
Another famous NFT sale in the digital market is remarkable, a digital artwork created by a robot.
Sophia is a humanine created by Hanson Robotics in Hong Kong in 2015, she is a national of Saudi Arabia. Sophia the robot created together with the Italian digital artist Andrea Bonaceto a piece of digital art inspired by humans.
This is the first NFT created by Sophia and one of the first digital works created collaboratively by a human and a humanoid. The digital work is a 12-second MP4 in which we can see the evolution of the creation of the work. In 2021 the Non Fungible Token was auctioned in Hong Kong for €583,561.
According to experts, this piece has made history in art. Over time, could material art be replaced by digital art?
NFT Art and Traditional Art
Modern art is changing its work tools, we are replacing brushes, oil, stone, canvas or other materials with digital painting using computers, tablets, paper printers or 3D printers.
It is difficult to predict that conventional materials will continue to be used by artists in the future. Although it must be borne in mind that it is important to have the knowledge on how to use technology to create artworks. I imagine that the following generations will have easier access to technology than to the materials that have been used up to now. The most prominent difference between NFT art and traditional art is that NFT is a fully digital piece, which can only exist in specific digital wallets and blockchain. This string also stores ownership of the file.
Although there are a wide variety of alternatives, most transactions to buy NFT’s are made with Ether, the native cryptocurrency of the Ethereum network.
NFT digital artwork. Beeple. 2020
One of the most important NFT virtual art gallery for buying and selling NFT are:
Mintable is a platform for buying and selling NFT that aspires to become an open market. It is the most recommended trading platform for beginners. It also allows you to Minting at no cost. Mintable is an Ethereum Marketplace.
https://mintable.nftically.com/
OpenSea is a marketplace for NFT buyers and sellers. The NFTs are the main business of this Opensea, it is also very easy to access. Opensea is the best place to sell, create, transfer and buy NFT.
Solanart is an NFT marketplace that allows users to easily buy and sell NFT at fees set by the user. Solanart also allows creators to launch their projects through its Launchpad. Solanart’s design is simple, it is applicable to non-technical or inexperienced users. Traded NFT come with their corresponding websites and social media pages, which everyone can freely access to do their own research.
Binance is an integrated part of the cryptocurrency exchange for NFT assets. His vision in the future is to lead the Metaverse.
What is an NFT?
Looking for information about NFT I found this online:
https://www.forbes.com/advisor/investing/cryptocurrency/nft-non-fungible-token/
An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41 billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.
NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.
This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand.
NFT means Non-Fungible Token. It is a special type of cryptographic token that represents something unique and digital asset encrypted.
The word fungible means that it can be exchanged or replaced, as an example we have money. Money is a clear example of something fungible, a €20 bill can be replaced by 20 Euro coins.
NFT’s are unique digital assets, cannot be changed or modified and are not exchangeable for others of the same value or of the same value. They are unique pieces of art and there are no copies. The works of art are original, in which each piece is unique.
Therefore, an NFT is a digital asset that is unique and, as such, can receive a certain market value.
The NFT is given a unique value through factors such as market demand, the creator of the piece of art, or its remarkable characteristics, etc.
It is an upward investment and marketing model in the digital world.
What is the Metaverse?
A virtual-reality space in which users can interact with a computer-generated environment and other users.
- The metaverse. This is a theoretical concept of a digital 3-D world that you enter via a virtual reality headset. In this virtual world, you have a “body” (avatar) that you can customize, a home to fill with the stuff you like and hundreds of spaces to visit. You can interact with other users, do work, play games and basically perform most of the activities that you do in everyday life. The metaverse is useful because it greatly reduces our need to travel and use physical resources. In a 3-D world, we can visualize and interact with any object without putting in much effort and time. We can cycle between activities, chats, locations and data with a simple gesture. Instead of switching between apps and a web browser, everything is connected and accessible in this digital world.
I’m going to buy NFT
The first step that must be taken is to choose an exchange to be able to acquire Cryptocurrencies, once the Cryptocurrencies are purchased they are transferred to NFT sales platforms such as Opensea or Solanart. After the transfer you can choose the NFT that you like the most and buy it.
The seller will take a commission for the sale. Once the platform has been chosen, it is very important to decide which Non-Fungible Token you want to invest in. Being well informed is very important, knowing who generated the project, what attractiveness it can generate in the future and who developed the digital work are some of the information that must be taken into account when investing in this asset.
Now you have acquired a digital asset which you can transfer or sell in exchange for cryptocurrencies. NFT digital assets cannot be exchanged or sold for common values such as Dollars, Euros or Bitcoins. The vast majority of important companies in the world are part of the Metaverse and in the NFT market, as an example we have Pizza Hut, Pringles, Coca-Cola, McDonalds, Louis Vuitton, Marvel…
The artists publish their NFTs and the interested parties take over the rights to the pieces, the seller earns his money from the transaction, while the new owner can speculate on the value of the piece. Buying an NFT is very simple and you can buy a wide variety of items.
The most common way to buy an NFT is through an auction, which is the most common way to acquire unique pieces, you can also make the purchase directly with the seller. Once purchased Non-Fungible Token you can save it in your wallet.
Most of the NFT famous artist:
Beeple is the best-selling Crypto artist in the world, he sold the most expensive digital work of the moment.
Slimesunday is a digital artist and is known for his digital works on rebellious erotic art which is published in various erotic magazines including Penthouse and Playboy. His specialty is NFT Collage. The art of Trevor Jones after starting out painting in oils, his life would change in 2017 when he made his first NFT that was sold for 10,000 dollars. He is one of the top 10 NFT artists in the world. His pieces are created with digital painting and animation.
How to sell your digital art online
An NFT is like good wine, the longer it is at rest, the more it will appreciate in the future. One of the strategic ways to revalue an NFT is its value over time. It is very important to know when you should sell the asset taking into account the initial value obtained by the purchase and that the investment is recovered. Being up to date with the latest trends and knowing which artists and digital works are in fashion at the moment, is essential to know when is a good time to sell. It is also important to know how much you want to spend on the modern digital art investment.
Once everything is clear you can start bidding to be part of the art auction.
Inversion
There are reports published in 2021 that inform us that 14% of online digital art galleries already have Non-Fungible Token for sale and the market is booming. Until that date, the figures that move online digital art sales are €3,025 million. Some of the advantages of investing in these assets is that they are collectible, they are unique pieces that cannot be copied since they are traced from the beginning of their creation.
All transactions remain available on the blockchain and that provides security, transparency, and trust for users. The creator of the NFT is the one who decides on his work without censorship and with the conditions imposed by the digital artist himself. In the case of investments in new companies the investments can be risky. A company or brand must grow, scale is then when profitability is acquired. NFT holders can also acquire value and scale through companies or digital artists. As in all investments there will also be the other side of the coin.
Artdrei 2022
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