What Is NFT Art? The Ultimate Guide
What Is NFT Art? The Ultimate Guide
Are you wondering what NFT art is and if you can be a part of the new crypto market? Keep reading and learn more about NFT art here.
Keyword(s): nft art
As some artists have sold NFT art for millions of dollars, it is no surprise that people are starting to have more interest in this area. But you would not be the first person to not know what NFT art is or what you should do with it. Thus you must get up to speed as fast as possible so you do not miss out on the opportunities it provides.
That is where this article comes in. Below we have listed some details on what NFT crypto art is, how to make it, where to buy it, and so on. By the end, you should be able to discuss NFT with even the most ardent fan, so read on.
What Is NFT Crypto Art?
NFT stands for non-fungible token. To understand what that is, we need to break it down.
This means that it cannot break down into part of a larger whole. One example of a fungible item is a single dollar that you can use to pay for a larger item or broken down to cents.
Other examples of fungible items include company shares, commodities like corn, gold, and stock options.
A Token in this regard is a digital asset. You are not buying the physical object or its tangible properties, but instead the digital rights to it. It is akin to buying a certificate declaring that you own a specific piece of art without taking the art itself home.
Tokens and certificates have existed for a long time to declare digital ownership of goods, but the difference has come with the use of crypto.
Much like with cryptocurrency, a record of ownership passes through a digital ledger called the “blockchain”. It is impossible to forge these records as this ledger distributes its data through thousands of computers across the world.
How This All Works
By buying an NFT crypto art piece, you are entering a contract of sale for a token associated with the artwork. The specifics of the sale may be different with each piece of art sold and you should investigate what you are buying before you do so.
For example, it is not unusual for a sale of NFT art to include specific clauses. For example, one that states that any future sale of the art must send a percentage of the sale to the original artist.
Other sales may have clauses that restrict the use of any art purchased for commercial purposes. This limits what you can do with the art when you buy it and send it on.
You can sell NFTs in many ways. Some people sell them via auction or direct sales. Many sites on the Internet offer NFT crypto art for a variety of prices, with the most expensive reaching almost 70 million dollars.
How to Make NFT Art
There are several steps to making artwork and selling it as an NFT. The following is the basic process, although we would recommend investigating each step in detail:
Pick a Piece of Art
Go through any artwork that you have. As non-fungible tokens can be representations of any digital file, you can make an NFT out of almost any kind of recordable art. If you can represent it in digital form, you can turn it into a unique token needed for an NFT.
You can choose to do this with:
- A piece of writing
- A scan of a painting
- A video
- A song
- A 3D print file
Gather some Ether
To mint the NFT and create the non-fungible token itself you will need to “mint” it. Many processes exist to do this, but they all cost money. Most of these will cost at least $100, but depending on the daily price fluctuation they may be more or less.
Some places can be free to use, because of the form the token takes. Although, you are still required to own a cryptocurrency wallet. This wallet will hold any money you make during the process.
Choose Where to Sell
Most people do not know where to buy NFT art. It is not the kind of thing that one throws up on eBay or Facebook Marketplace.
Instead, several digital marketplaces exist online in which to list an NFT for sale. They have different requirements for what the NFT must be, with some being very strict while others are more liberal in their sales.
Mint the NFT
Once you have connected your crypto wallet to your market of choice, you can start minting. You should give the listing as much information as you can, to allow people to understand exactly what they are buying.
Once you have done this, the token will exist and be buyable for an amount of cryptocurrency. On many of these sites, you can then choose to sell for a set price or at an auction
Market Your Creation
You will need to let people know what you are selling. Start promoting yourself and your work on your social media channels. If you have networked with others and gotten a following, get them to help promote you.
The art world is ruthless, so do not expect to succeed unless you are already established or you have a secret up your sleeve. One trick is to have a subculture you know would have an interest in this kind of thing. Or if you are the original creator of a meme picture that has gone viral.
Whichever way you choose to do this, prepare to reap the benefits once you have put the work in.
Learn More About NFT Art
Now you understand more about NFT art you can get involved yourself in its world. You may still have questions about where to get started, though, and if so we are more than willing to help.
Fabrik can answer any questions you have on what to do with NFT crypto art. So send us a message and we can get you started with your collection.