Non-fungible tokens are increasingly becoming a viable option for artists to create unique artwork and monetize from them.
While investors used to look for art galleries and auction houses to find the best form of art, the focus has now shifted to NFTs. So, what exactly is NFT art?
Well, art has always mesmerized its connoisseurs. The paintings of the Mona Lisa and Van Gogh shall always remain priceless because of how they were created and, more importantly, their quality of uniqueness in them.
People often believe that digital art is easily reproducible as it can be copied within a few seconds and thus is not ‘rare’ or unique. Thanks to blockchain technology put an end to this misconception. Today, there is a special category of artists – NFT artists or digital artists – whose creations are revered. That’s because these are digital art which is unique.
The digital art file undergoes a technical process through which it is turned into a Non-fungible token or NFT that is stored as a digital asset on the blockchain platform. The creators’ specific information, known as metadata, is stored in the blockchain record and will remain forever. Therefore, no one can take away the copyrights of the artwork from the creator.
In addition, the NFT has a set of code statements known as smart contracts underpinning it, which ensure that each time someone buys the NFT artwork, the original creator receives royalties as programmed in the code. Therefore, blockchain-enabled NFT technology offers the option to suitably reward the creator each time for their talent and effort.
NFT artwork led to artists redefining their creativity and letting them monetize their innovative creations, paving the way for fame and wealth. This category page specifically focuses on upcoming trends, news updates, and more in the NFT art.
