What is NFT Art? All About Non-Fungible Tokens
You might be wondering to yourself, after seeing an NFT art news blip about artists making $1m online, what is NFT art? What are non-fungible tokens and why would anyone pay a million dollars for a digital artwork? The interest in digital artwork began in the 90’s. Animated GIFs exploded all over the internet. Those cute little gundam wing pictures that move found their way all over the internet.
The 90’s invented a lot of things along with AOL instant messanger, Yahoo Mail, Tumbler, and Myspace. Digital graphics were popularized as a mode of communication and conveying emotion. Anime brought the animated gundam wing gifs. We’ve all seen them. Do you ever miss seeing these cute Dragon Ball Z gifs? Let’s talk about how you can join the wave of digital NFT creation and what it is.
These animated graphics exploded in the 90’s, but popularity for making money off of them emerged in the last year with platforms such as Rarible and OpenSea. These marketplaces allow creators to sell animated graphics and digital artwork for cryptocurrency. Even video content can now be sold as an authentic, minted NFT.
What are Non-Fungible Tokens
Non-fungible token means a minted artwork that is authentically registered when crypto is exchanged for the digital asset. This could be a jpeg, a video, or an animated graphic. These are not the only items that can be transacted for crypto that qualify as NFT’s. Video content from NBA games have been sold as NFT’s online generating $600,000 of income. These NFT graphics are officially owned by the person who purchases them. The transaction authenticates the artwork.
What do people do with NFT art?
People who purchase NFT art can display this work on a monitor in their home, a digital space such as a projector on a wall, or a metaverse. Many creators have held art shows in digital spaces such as the metaverse sharing and selling their work online.
Communities of people online formed after the emergence of digital marketplaces for NFT’s to support creators such as metaverse galleries. The Metaverse Cafe is a virtual space for coffee and art hosting NFT drops, virtual events, and exhibitions. The online space is changing rapidly along with how we define sellable art. Non-fungible tokens have also changed the game.
How can I make my own NFT?
NFTs artwork begins with research. Although it may be easy to create an NFT artwork, it may not be easy to sell one. The types of marketplaces online vary and so do their audiences. It’s good to begin with researching the type of content artists are selling on each platform so you can place your work in an appropriate venue. You might even consider private virtual spaces to exhibit your work and privately sell it.
If you are considering creating your own NFT and would like to learn the step by step process, I have an NFT Crash Course. You can find out more about it here.