Why has NFT Become Mainstream in The Arts?

Source: news9live.com

With NFT, you can sell almost any virtual object – images, music, texts, 3D models. But most often we are talking about digital (or digitized) art objects.

The logical question arises, where can I buy NFT art? In order to understand how to create and start working with the NFT concept, we must study https://v-art.digital/where-to-buy-nft-art-a-guide/.

For example, on March 11, 2024, a JPG file with five thousand paintings of the artist Beeple stitched together was sold at auction for $69.3 million in ether, that is, in the cryptocurrency Ethereum. The college is called Everyday: The First 5,000 Days. It includes all of Beeple’s paintings from the past 13 years.

Christie’s auction house sold the artist’s work specifically in the form of NFT. In the site’s 255-year history, this is the first such occasion and, at the same time, the largest transaction in the history of the NFT market.

Christie’s involvement and the final sum of the deal fueled the excitement around the new instrument. The day after Christie’s auction, Russian artist Pokras Lampas made his NFT. The original work was painted on canvas, then digitized and projected onto the concrete structures of the Chirkei hydroelectric power plant, the largest hydroelectric power plant in the North Caucasus. The artist then converted the photo projection into a token and put it up for sale.

The NFT by Pokras Lampas was purchased for $29,000. At the end of the auction, the artist stated that the new format allows for the support of author projects and the development of the crypto-art community.

Elon Musk couldn’t stay away from the hype either. He released a track about the NFT and announced on his Twitter that he was going to sell it as a token.

How is crypto-art creating a new era in contemporary art?

Source: edtimes.in

Today NFT technology is radically changing modern art. And the coronavirus pandemic has also made adjustments to its development. Where previously there were live auctions, where you could sell a tangible painting, now all sales have gone digital, where, incidentally, it is much easier to attach an NFT-token to your work.

But that doesn’t mean that NFT art will remain only on the Internet. Today, many galleries are already thinking about exhibiting digital art.

In addition, various digital projects related to NFT are being created. It is always important and interesting for studios to be the first to try out trends and develop them on their own.

A good example of how to ride a trend in time is Sveta’s own studio XR, which Sveta is creating at the moment after the resounding success of Billie Eilish’s online concert design.

Why is NFT so popular?

Source: digitalgyan.org

The excitement around NFT only seems crazy at first glance. Let’s take a few steps back.

First. It’s hard to believe, but steady demand for digital stuff does exist. Thanks in large part to gamers. You probably know Dota 2, the multiplayer game that has become a cybersports discipline. In it, you can buy digital assets with real money. For example, one player bought a rare pink dog for $38,000. In the game, the dog simply brings the character items.

Dota 2 is a product of Valve. It also created the popular free-to-play shooter Team Fortress 2. There is a whole market for digital hats around the game, which reached $50 million in 2011. Yes, hats and digital hats: in Team Fortress 2, two teams with the same set of characters play against each other, and you can stand out among them with equipment that includes hats.

In another game, Diablo 3, WishboneTheDog has made around $10,000 by selling digital items such as weapons, armor, and jewelry.

We’re not talking about unique tokens or copyrights here: users pay real money for a piece of code and a picture on the screen. And it all belongs to the developers – Valve in the case of Dota 2 and Team Fortress 2 or Blizzard in the case of Diablo 3.

What problems can be encountered?

Source: nytimes.com

The main problem with the NFT right now is that the sites where artists (as well as scammers) post content for sale do not check the works for authenticity or copyright in any way. Thus, any user can collect drawings by different authors from the Internet and put them up for sale as a collection. Often, the illustrators do not even know that their works are for sale, and the scammers make money (usually not very much) in the meantime.

Sometimes the criminals do not just copy other people’s files (even the watermarks on the paintings do not embarrass them), but also the composition of collections, their names, and even create fake accounts of famous artists.

This year there were many examples of such “resale. For example, works by the artist Sinni, who died of cancer last year, were copied and put up for sale. This was reported on his page by the artist’s brother.

How to protect yourself as an artist

Source: reuters.com

Many artists are still struggling with scammers, proving the authenticity of their work and flooding sites like OpenSea with requests to remove unknowingly uploaded crypto-art. To protect yourself from this, you need to remember a few simple rules.

Save the original .psd file (or any other) with the source of your art on a standalone medium.

Don’t put the source files online. Being able to demonstrate the process of creating your work is the most important proof of authorship.

Place large watermarks on your public domain artwork. This makes it harder for crooks to steal and sell their work.

Close all of your abandoned accounts (or hide all of your work in them) so scammers can’t take content from them and pass it off as your own.

If you have Twitter, you need to ban the account of the bot @tokenizedtweets and the like. If the bot has already attached a token to your creation, you can challenge the authorship at tokenizedtweets.com.

Twitter users have long compiled lists of such bots and rogue enthusiasts.