For many years, art has remained on the physical plane as artists showcase their pieces through exhibitions or competitions where collectors visit to acquire these creations for their own.
Museums also value physical copies of art from notable painters. Yet, as the world continues to evolve, so does art.
Today, we bore witness to different kinds of art styles, including the popular digital art that spread throughout social media. This rise in technological advancements also paved the way for the creation of NFTs, a new cryptocurrency trend that not only allows users to view artwork but also the rights to the original copy.
NFTs, or non-fungible tokens, are pieces of digital content linked to a blockchain or a digital database that support digital currencies, like Bitcoin and Ethereum.
Apart from giving collectors a chance to own unique artworks seen online, this new platform also allowed artists to earn money remotely and without having to make a breakthrough in the already competitive art industry. However, NFTs aren’t limited to paintings. The cryptocurrency also accepts memes, music, videos, and more into the blockchain.
Put simply, NFTs transform digital art and other collectibles into unique, verifiable assets that are traded easily on the blockchain. While others may still get a glimpse of the piece online, only the highest bidder can claim that they have the original copy. This is authenticated through a certificate that contains all the information such as the name of the piece, the name of the artist, number of prints, size, medium, etc.
Filipinos welcomed this development warmly. Just last year, out of 20 countries, the Philippines ranked first in NFT ownership, showing an interested community with both creatives and buyers. Some artists have already begun tapping into the new space and are earning significant numbers in cryptocurrency while showing the world what they’re capable of.
How can artists create NFTs?
Creating NFTs need more than just a piece of art uploaded onto a selected platform. The first step is to making an NFT is to determine the appropriate NFT platform to create and sell these unique works of art. Securing a payment wallet to pay fees and receive funds after an NFT has been purchased is also required.
Before artists can make their artwork available as NFTs, they need to buy cryptocurrencies first. Many NFT platforms only accept popular cryptocurrencies like Ethereum, but once that’s been established, they can go ahead and connect that wallet to their chosen platform before finally uploading their artworks as NFTs.
Artists have full creative authority over what they want to upload to the platform. Once that’s done, they can auction their works to interested buyers who will try to bid for the highest price to claim the piece for their collection.
However, to fully entice buyers towards the piece, artists need to practice a little marketing online. They can start by using hashtags to help buyers narrow down the search. Posting on social media, as many people already know, is another way to rapidly gain a following which could help NFT artists promote their pieces.
Over the years, art has evolved to mirror the current conditions of the world. Digital art and NFTs are all the rage nowadays as they continue to hit artists’ goals by giving them a platform to showcase their art and earn from their talent.