Note: Nothing in this article is a financial advice of any kind and this disclaimer has to suffice. Further the crypto and NFT art marketplaces might also be full of scam. This article is purely for education, information and entertainment purposes.
Do you know about crypto art or barely heard about it? You will be a bit relaxed to know that you are not alone if you do not know about it at all.
It says that crypto art comprises digital artworks that are directly published onto a blockchain in the non-fungible token (NFT) (described below) form making things possible such as ownership, transfer, and sale of any artwork. This crypto game is all about owning the artwork. Still did not get it? Let just read the description below with us.
The only difference between crypto art and physical art is that crypto art is dealt with all online and exists in limited editions just like traditional art. Crypto art is of many kinds such as digital graphics, music, VR dreamscapes, or can be programmable art.
You buy and own a connection with some specific artist. You do not create or make it, you just buy and own it, simply as a specific single article being sold expensively and you buy it and you can say that you own it even if you have not made it at all.
Crypto art and NFTs allowed us to collect digital artwork for the first time, as before these we had no particular way to collect digital artwork though it had been produced for ages.
Above displayed is the most expensive crypto artwork worth $69 million.
Crypto art does not have to be complex like this above one which is a graphical artwork, but it can also be the simplest form of photography as displayed below:
Titled as Forever Rose, this used to be the most expensive virtual artwork back in 2018 when it sold out for $1 million on 14 February,2018 on Valentines’ Day.
Believe or not but this is the second top expensive crypto artwork and is a simpler form of graphic art which sold out for $7.58 million.
NFT ecosystem includes a number of block chain driven currencies like Ethereum, Solana, and Flow.
So, what is NFT now? It is the non-fungible token means that NFT is a highly unique token and cannot be replaced with anything else. To make you clearer let us give you an example, as you know or have heard that bitcoin is fungible; you can trade one for another bitcoin and you will have the exact same thing, but here, if you trade one kind of a trading card (NFT) you would have something different from what you traded in the first place.
NFTs can be any kind of digital art such as drawings, illustrations, paintings, music, etc. They are designed to provide you with something that cannot be copied but only the artist may retain the copyright by will just like in case of any physical artwork.
The question arises, is it worth buying or selling by using the platform of crypto art? The answer we have here is enough to satisfy you that crypto art is holding the future in its hand if we talk about art and its terms. It is the craze of crypto art which is taking the world effectively.
What do you think might have triggered the people to buy digital memes, artworks, and many more a few years ago and being proud to have the ownership by paying the highest price for some simple looking digital artwork. If we do not adapt ourselves in time accordingly, we will have to accept it anyway which is not beneficial at all, because why miss any opportunity if we can get the best out of it by simply understanding it correctly.
List of a few Digital Art Marketplaces:
OpenSea: It is the world’s first and largest web 3.0 marketplace for NFTs and crypto collectibles. One can browse, create, buy, sell, and auction NFTs using OpenSea and the economic activity is traded using Ethereum blockchain. Click here to directly visit this online NFT marketplace headquartered in New York City of the USA.
Super Rare: It is a peer-to-peer web 3.0 marketplace for collecting and trading unique, single-edition digital artworks and the trading is done using Ethereum. Click here to directly visit this online NFT marketplace headquartered in New York City of the USA.
Rarible: It is another NFT marketplace but it is open-source and the trading is done using Ethereum. Click here to directly visit this online NFT marketplace headquartered in Moscow, Russia.
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