Many digital art trading and exchange platforms make it easy for creators to collect trinkets; in contrast, other art platforms are more exclusive and privileged; others focus on making individuals develop and sell their works of digital art. Visit the website for more queries.
Professional digital artists boast that NFTs have made it easy for creators to make a quick profit. In addition, some NFT artists claim digital art trading platforms can make traditional art markets unflashy and obsolete.
Digital possibilities in the new art trade
The NFT market achieved great acceptance during the past year 2021, which provided the opportunity to gain credibility and thus boost the market, becoming an exclusive fashion current, for which the NFT market obtained development and growth very interesting.
It is presumed that by 2021, this market will mobilize a figure close to 22 billion dollars, leaving a huge gap compared to the 100 million it obtained in 2020.
Thanks to these figures, we can deduce the tremendous growth of the NFT market. Then, suddenly, dozens of projects began to appear, causing prices to rise exorbitantly.
The stability of these markets in the future is a worrying aspect to discuss, and many experts and analysts predict that this bubble will rebound and burst when we least expect it.
NFTs, thanks to the benefits of their technology, allow any artist to automate sales and earn long-term royalties.
This technique benefits digital content developers.
The NFTs brought freedom to the sale and exhibition of art, even more than what has been achieved through social networks.
In general, artists have always had to put up with art galleries admitting them into their spaces and making them known, but all this has changed thanks to the creation and issuance of NFTs, where artists do not only exhibit their works but instead, At the same time they will be able to sell their art digitally, to all people from anywhere in the world.
There have been cases of very young artists, very young, earning thousands or millions of dollars from the sales of their art in this way.
Benefits of Blockchain Technology
Thanks to the implementation of blockchain technology, it has been possible to automate a wide variety of processes, which previously interfered with the commercialization of works.
The platforms that are used and used to sell the NFTs carry out all the processes without the artist’s participation, only indicating the value of the cost of the work and placing it for sale.
The system automatically processes everything; there will already be someone interested who will buy it, and the payment obtained will be automatically deposited in the previously specified digital wallet of the artist who was its owner.
After this process, the property will be transferred to the buyer, although the information of the creator of the work will always be stored in the blockchain.
One of the most striking aspects of this system is the advantage of earning lifetime royalties since it is possible to program the smart contract that will execute the operations automatically.
So that each time the work is sold, a percentage is deposited of the amount to the author-artist, even though this no longer appears in anything related to the subsequent sales of his work.
Platforms for business of famous artists
They are platforms that provide artists with around 10% royalty on the future sales of their works. The most renowned digital artists, such as Mike Winkelmann, more commonly called Beeple, use platforms from the category Nifty Gateway, Super Rare, and Foundation.
Platforms with more inclusion
Platforms like Mintable and Rarible allow users to mount and sell images and text as NFTs on this site, allowing artists to earn royalties but interact with a less exclusive clientele.
Anything from original interpretations by renowned artists to blank images can be mounted on the Rarible platform. These platforms sell NFTs that range from a cost of 10 dollars to 100 thousand dollars.
Conclusion
The use and implementation of this technology have changed the way of appreciating and acquiring works of art, giving users the possibility of investing differently and entering the world of cryptocurrencies, which offers excellent opportunities of profits for both artists and buyers.