About NFT OR Digital Art is the new reality
Recently I learned about NFT and it blew my mind! I decided to share what I discovered about this topic so far.
I will talk about What is NFT and Why is it getting more and more popular each day, about Markets and Possibilities for artists and non-artists, and my experience with it.
Introduction
Imagine you created a special 3D art of your favorite game character, you post it and share it, you can try to sell it even, but how to prove that this work is yours and how the buyer will be proved to be the one and only real owner of it?!
The answer is NFT.
What is NFT
NFT stands for Non-fungible token. Fungible means replaceable or interchangeable, so here, the name speaks for itself. NFT is an irreplaceable marker of uniqueness.
After all, think of it as a stamp or a label that you put on some digital product, which proves the absolute authenticity of this product and absolute ownership of a person who has it.
It is based on blockchain technology. Same as any other cryptocurrency, NFT is recorded on the blockchain. The major difference here is its non-fungibility: unlike cryptocurrencies, one token cannot be changed to another and still have the same value.
What can be an NFT? Pretty much anything, even a picture of your favorite pet, if you will. For now, the most widespread NFTs are falling into the art category: music, paintings, drawing, gaming, sport, tickets to a concert, etc.
Let’s see how the “physical” art world responds to this.
Ultimate marker — Breakthrough in the auction world
The world of art is going through a big transformation at the moment, and a marker for that is Christie’s auction that is selling the painting “EVERYDAYS: THE FIRST 5000 DAYS” by Mike Winkelmann, known as Beeple.
I truly find it a crazy genius piece, it aggregates 5000 days of his work and the current price (at the moment of writing this article) is 3,500,000 USD which keeps on growing.
Just think about it.
It shows us that the revolutionary changes have begun, artists are now able to sell their work digitally like never before.
Alright, maybe you are wondering “What if I am not the artist, why this topic should even bother me?”, so let me answer this question below.
Markets and Possibilities for artists and non-artists
NFT is for everyone. Fans of the art of different kinds, for collectors, for artists, traders, basically for people coming from any profession. For instance, I’m a designer of User Interfaces, but I’m writing this article, in a way contributing to NFT:) I love digital and I love art, it’s a perfect combination. I’m definitely in the first row of fans of this technology and I’m also a beginner trader. Trading is exactly where you can start off slowly if you are interested in this topic. Art is also business, an extremely rich and fast-developing one.
To learn about how big is the market, just check CryptoSlam listing the most popular NFT projects and their current volume.
Now, let’s take a look at the market places and spaces for creating your own NFTs.
Marketplaces
- OpenSea, Rarible, Atomichub where you can create, buy and sell NFTs.
- VIV3
A few days ago I explored this website and was even lucky enough to get a Ben Mauro’s Evolution pack. Thanks to PRO BLOCKCHAIN/Pro Blockchain Media International I was aware of this sale on time, guys always release relevant up-to-date videos on their channel. - NBA Top Shot
The main idea here is in short videos they capture the most epic moments in basketball history. I enjoy the works done by NBA Top Shot, it is a brilliant idea that greatly contributes to the basketball and NFT worlds! I bought few so-called “moments” and plan to collect them further.
Celebrities are also “getting it”
It was interesting to learn that famous people are also getting involved in this topic. They use their own creations or collaborate with artists to produce unique NFTs, sorry for the tautology here. Did you get it? Cause NFT already means unique… well whatever:)
Here are some examples:
Conclusion
NFT is developing with rocket speed and there is still time to get on this rocket.
It can be simple, it can be complex, but it is unique.
Go NFT!
