NFTs are not just assets, they are art

When NFTs had a meteoric rise in popularity last year, it was exciting. For a while it seemed like all people could talk about were NFTs. Celebrities started releasing collections, well-known brands like Nike partnered with NFT creators, etc. Everywhere there were headlines like “How NFTs are disrupting the art world.”

This excitement was felt especially deeply by those of us who have been creating NFTs for years. Having art world institutions like Christie’s and Sotheby’s take an interest in the art form we were producing was groundbreaking, especially considering how few people knew what NFTs were before. It really felt like we were revolutionizing what art could and should be.

What are NFTs?

NFTs are units of data (unique code) that provide a secure record of ownership of a blockchain infrastructure (examples are Ethereum or Solana). NFTs, which stand for non-fungible tokens, are often associated with a digital asset such as an image or video that lives on a blockchain.

Yet the headlines that stuck in the public mind weren’t about NFTs being revolutionary, or the creators using NFTs to build communities, or even their function as collectibles. Instead, NFTs are exclusively associated with their potential to earn investors quick riches. There is some truth to this notion – investing in NFTs has paid off for many investors and creators, with tokens selling up to $91.8 millionbut this is not the whole truth.

Read more about NFTs at BuiltIn.comWhere to buy NFTs in 2022: 20 markets and what they’re selling

What have NFTs changed? Art Means

NFTs are much more than capital gain assets. NFTs enable digital artists to gain unprecedented recognition and recognition. Since its inception, the digital art form has been neglected. It wasn’t until NFTs began to gain popularity that digital art galleries began to appear and auction houses began to consider this art form worthy of sale. Because of the NFT boom, people have come to see digital art for what it is: innovative, deeply creative, and deserving of aesthetic appreciation.

Along with bringing deserved attention to digital art media, NFTs have sparked a mainstream conversation about what makes art valuable. While ownership of art was reserved for a select group, those with money and access, NFTs made it possible for anyone to own an original work. This applies even to works that are too expensive for most people to afford individually, as buyers can partially invest in artists’ works.

Read more about NFTs on Built In’s Expert Contributors NetworkBeginners Guide to NFT Crypto Art

NFTs provide new opportunities for digital artists

NFTs not only make owning art more accessible, but also making art. The “starving artist” trope exists for a reason, but art-as-tokens opens up new avenues for artists to make a living from their art. NFTs have created a new incentive for buyers to buy digital art because the owner can actually prove that the art belongs to them. Now that this incentive exists, more artists can generate sales. Artists keep more of the profits from these sales as well, which attracts artists who can’t afford to make art within the established system.

NFT markets allow direct sales between creators and buyers, and tokenization allows creators to earn rewards from future sales. In other words, by purchasing an NFT, an individual buyer can have a significant positive impact on the creator’s career and livelihood. In turn, artists can foster closer relationships with their supporters, enjoy more creative freedom, and create more authentic works.

These close relationships extend into the NFT space. The direct collaboration and monetary opportunities provided by NFTs encourage creators to support each other, creating a kind of ecosystem within the artistic community. Artists who collect the work of other artists benefit from building creative networks and sharing the wealth with their peers.

These are just a few reasons why NFT is valuable. NFTs can serve real-world purposes, such as those related to physical items. It can function as a ticket or provide access to an event or public space. You might just like the art or the creator behind it. Regardless of what great purpose an individual token may serve, engaging with NFTs means supporting the transformation of our culture’s creative landscape. By creating, collecting or investing, participating in the NFT market means challenging what art can and should be and who can practice and benefit from it.

Read more about NFT Art on Built In’s Expert Contributors NetworkArt, Technology and the Bridge Between: Exposing NFTs and Digital Art

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