Counterfeiting is one of the problems that have prevented digital art from taking off. Another issue that has also made it hard to buy and sell digital art is the lack of provenance (ownership history). NFTs help solve both of these problems.
With NFTs, artists can now mint their digital art and sell it for cryptocurrency. When an NFT is minted, it is registered on a blockchain and becomes unique. The artist can then set the price for their NFT, and anyone interested in buying it can do so using cryptocurrency.
Not only does this help artists protect their work from being copied and sold without their permission, but it also provides a way for them to track the ownership history of their art. This means that when an NFT design is sold, the new owner can be sure that they are the only person in the world who owns that particular piece of digital art.
1. Full Control
As an artist, you no longer need dealers or galleries to help you sell your work. With NFTs, you have full control over your art and can sell it directly to buyers. You can determine the value of your work and keep all of the profits from sales.
2. Continuous Royalties
With NFTs, you don't only earn from your artwork during the first sale. Since NFTs are stored on a blockchain, every time they are resold you will earn a royalty. This offers a continuous stream of revenue for artists, which is not possible with traditional art sales.
As mentioned earlier, NFTs offer provenance for digital art. This is important not only for buyers, who can be sure they are buying a unique piece of art but also for artists. Provenance can help you track the sales history of your art and see how popular it is with collectors.
4. A Welcoming Community
New artists sometimes find it hard to break into the traditional art world. However, the crypto art community is much more welcoming and supportive of new talent. There are many online platforms and galleries that showcase NFT art, and you can also find buyers directly on social media sites like Twitter and Discord.
5. New Audiences
NFTs have also opened up the possibility of selling art to a whole new audience. Cryptocurrency holders are always looking for new ways to invest their money, and many of them are interested in buying NFTs. As an artist, this gives you access to a completely new market of potential buyers.
6. Eco-Friendly Alternatives
Although crypto mining and minting have been criticized for their energy consumption, there are more eco-friendly alternatives that do not require so much energy. For example, Tellie mints NFTs on Polygon which is a scalable blockchain that uses very little energy. This means that artists can create NFTs without harming the environment.
7. Retain Your Copyrights
A collector does not own the copyright to an NFT they purchase. The artist always retains their copyrights, which means the buyer cannot make profits from prints or other merchandise based on the art. Although the copyright can be transferred to the buyer in some cases, this is something that the artist can decide on a per-sale basis.
8. Early Bird Advantage
NFTs are still in their early days, which means there is a lot of potential for growth. Now is the perfect time to get involved and start creating NFTs. As the industry matures, there will be more opportunities for artists to sell their work and earn a living from NFT art.
9. A Link to Your Artwork
NFTs have a link that allows you to download the artwork and view it or display it as you desire. This means that with NFTs, you can keep a copy of your work and show it to anyone who is interested.
10. No Physical Artwork is Required
With traditional art, artists need to create physical artwork that needs to be shipped to galleries or buyers. This can be costly and time-consuming. With NFTs, there is no need for physical artwork as the art is stored digitally. This makes it much easier and cheaper to create art, which means more opportunities for artists to sell their work.
Making an NFT is easy and there are a number of different ways to do it. The most popular platforms for creating and selling NFTs are OpenSea, Rarible, and SuperRare.
OpenSea is the largest marketplace for NFTs and supports a wide range of assets including art, games, and collectibles. To create an NFT on OpenSea, you first need to sign up and connect your Ethereum wallet. Once you have done this, you can upload your artwork and set a price.
Rarible is similar to OpenSea. All kinds of videos, music, art, and collectibles can be created, bought, or sold on the platform. It allows artists to mint their own NFTs and sell them on the platform. However, unlike OpenSea which accepts more than a hundred payment tokens, Rarible only accepts its token.
SuperRare is another digital art marketplace that allows artists to mint and sell their work. The platform has a range of features that make it easy to create and sell art, and it also has a strong community of buyers and sellers. You can buy and sell SuperRare NFTs on OpenSea.
The cost of minting an NFT depends on the platform you use and the Ethereum gas prices at the time. Gas is the fee that is paid to miners for processing transactions on the Ethereum blockchain. If gas prices are high, it will cost more to mint an NFT. Gas prices are usually high during weekdays and are low on weekends and holidays.
OpenSea charges a flat fee of $5 for minting an NFT, and Rarible charges a fee of 3% of the total sale price. SuperRare does not charge any fees for minting, but they do take a 10% cut of any sales made on the platform.
Overall, the cost of minting an NFT is relatively low compared to other methods of selling art. This makes NFTs a good option for artists who are looking to sell their work without incurring high costs.
NFTs offer many benefits for artists, and there are many reasons why you should consider creating them. If you are ready to mint an NFT, the first step is to sign up for a marketplace like OpenSea, Rarible, or SuperRare. Once you have done that, you can showcase your artwork and set a price. You will also need to connect your Ethereum wallet to receive payments.