In 2021, a new art movement disrupted the art and tech world. It has evolved rapidly, and people are going crazy over it while wondering, what is NFT art? Let’s dive deep into it and find out how you can jump on the bandwagon.
What is NFT Art?
An NFT art is a collectible asset in digital form. It is the equivalent of a painting or sculpture that you see in museums. Like these, an NFT art is unique, irreplaceable, and non-interchangeable. However, you can own it, but you can’t touch it.
The more limited and rare an NFT art becomes the higher its value. When you buy one, there is always the option to keep it or wait for it to increase in value, then sell it for a profit. And as we hear news about how an NFT art sold for millions of dollars, people are creating, buying, and selling them like crazy.
What Does NFT Mean in Art?
Some people find it perplexing that the world of online art is being disrupted by cartoon images of punks, apes, aliens, and cats. And with all the chitchat about these images making digital artists millionaires out of them, the interest is at an all-time high.
Non-fungible tokens, as what NFT stands for, are unique units of digital data stored on blockchains. These are assigned virtual deeds of ownership and proofs of authenticity. While some can’t still wrap their heads around the craze over a pipe-smoking alien, it doesn’t change the fact that these can be worth millions.
Digital artists, in general, have always had difficulties finding a platform to showcase their artworks. This is so unlike Van Gogh, who didn’t even know that his art had become much sought after. His works now command one of the highest prices in the art world. For those in the digital art sphere, it’s a different ballgame, and they don’t have to wait until they die to gain recognition.
NFT art has given digital artists the chance to monetize their works on a brand new platform. And for price tags comparable to VanGogh’s. NFT art can be considered a breakthrough as it gives them the recognition they deserve. This allows them to turn their work into something marketable and bankable for millions of dollars.
A Few Examples of NFT Art
To better illustrate what an NFT art is, it’s best to look at a few examples.
Composed of 10,000 collectible characters, Cryptopunks are 8-bit-style pixel art images of punky-looking guys, girls, and aliens. CryptoPunk #5822 is among the most expensive in the collection after it was bought for $23.7 million.
Bored Ape Yacht Club
An NFT art collection of cartoon apes looking as bored as can be, Bored Ape Yacht Club is one of the most famous in the world. Just like the Cyrtopunks, it consists of 10,000 unique NFTs that are algorithmically generated. One of the collection’s most expensive is Bored Ape #7090, which was bought for $2,272,620.
Some NFT art isn’t as expensive as the two above but can be more aesthetically pleasing. This beautiful artwork from Indrani Mitra is captivating and mesmerizing. This is the ideal NFT for art lovers, which you can find on Makersplace.
Can Any Art be an NFT?
Yes, just as there are hundreds, if not thousands of art genres, so does NFT art. It can be a painting, drawing, cartoon, photograph, music, video, game items, and even memes. As long as it can be minted (the term for creating an NFT) and converted into a token, you’re good to go.
An NFT isn’t necessarily the art itself. It can function as a digital signature or certificate of ownership or authenticity. The NFT lets creators name a rightful owner of their art that allows them to resell or trade it as they wish. This is what makes NFT art the novelty it is: it will enable anyone the ownership of a unique digital collectible.
How Do I Turn My Paintings and Other Artwork into NFTs?
This question has been the subject of many debates and discussions as it is a tricky one to answer. Let’s take the example of a painting on a canvas. Technically, you can turn it into an NFT, but then again, it may be pointless to do so.
In this case, you need to take a photograph of your painting. This photograph is only a digital copy of your artwork, it is not the original one. The very concept of authenticity is what makes NFT art valuable, without it, your painting wouldn’t be of any value.
So, to answer the question if you can turn your physical painting into an NFT is yes. However, if this particular painting has garnered positive reviews in the art world, it may not be as valuable in the NFT space. To give it value, there are three things you can do:
- You can take a photo of it, mint it, and then destroy the original painting.
- You can take a photo of it and give the original artwork to the buyer of its NFT.
- Tokenize a small code, place it in a microchip, and insert it into your painting.
How Does One Buy NFT Art?
If you’re looking to purchase some NFT arts of your own, here are the basic steps to do so:
- Select and create an account on the NFT marketplace of your choice. Some good examples are Opensea, Mintable, and Rarible.
- Get a crypto wallet such as MetaMask or Coinbase. After creating an account, get your hand on some cryptocurrency to use for your transactions.
- Connect your crypto wallet to your NFT marketplace account.
- Start browsing for NFT art to buy. You can purchase one directly from a seller or bid on an auction.
While some are still asking what is an NFT art, many people are now cashing in on the craze. If you don’t want to be left behind, start trading today. Also, if you’re a digital artist looking to sell your art, this may be the best time to go to an NFT marketplace.
If you need excellent graphic design, custom illustrations, and other artwork, work with us at Penji. You can watch our demo video here to learn about what we do or sign up using this link to get the designs started.