Hey Friends!
As you know. I am an active artist that has ALWAYS made physical (traditional) art... (always using Coffee as paint) Lately I've been doing a lot of promoting of Non-Fungible Tokens or NFT's.
I wanted to apologise for the new jargon and wanted to give you a chance to learn a bit about it.
I would love to give you front row access to my experience as I try to fit into the CryptoArt world this week.
I would like to let you in on my experiment as I launch my first NFT's. Maybe it could help.
Many articles and news stories talk about this as it pertains to digital artists, forgetting that anything can be an NFT. Currently there are no rules about what can and cannot be 'minted' as an NFT.
What are NFT's? (Non-Fungible Tokens)
As Software Developer and Blockchain Expert, Crypto Casey, explains in her YouTube series Cryptocurrency for Beginners, some things are fungible. This means you can interchange them with other things of that same value, like the US dollar or Bitcoin. However limited-edition sneakers, luxury cars, and rare baseball cards are non-fungible, which means that while you have a baseball card, you cannot trade it for another baseball card of equal value in the same way you can trade normal currency, like US dollars for CAD. Both items have a subjective value, that is different for every person.
You can now turn any of these non-fungible items into a token now, to be sold and recorded on the blockchain. But why?
Blockchain
"Unchangable records of data stored on networks of computers all over the world."- Crypto Casey
3 Pillars of Blockchain
- Decentralization. Data is stored in multiple places, and no one person, government, or entity owns or controls the storage process.
-Transparency. Transactions are recorded on a publicly accessible ledger and stored on multiple computers around the world. Anyone can access the transaction history.
-Immutability. The data cannot be changed or altered. Free from forgery.
(Her full video will be linked as it is the best video explaining NFT's online and will help answer all of the basic questions you may have )Crypto Casey NFT Video Youtube
I mentioned above that currently there are no rules as to what can be minted on the blockchain. I could make a token for this email. Mavericks owner Marc Cuban sold his own personal tweet recently for the equivalent of nearly $1000 USD as an NFT.
I think this craze will lead to some very interesting turns in the future, as crypto collectors refine their perceived values and become experienced collectors of their digital products.
Collectors of traditional art have held the belief that when buying original art straight from a gallery or an artist, there is always a good chance that the piece will grow in value over time because of its uniqueness and the successful development of the artist who created it.
Collectors in the digital world will inevitably inherit some of these values, and new ones to accommodate their perceived value in assets such as digital property, fortnight game skins, and tweets.
The best part is, artists are now able to make ROYALTIES off of any future resale of the art they sell using a blockchain!
With all data recorded and computer contracts already in place. Art collectors and artists are now a team. Both hoping for the artist to increase in value. More freedom for artists and better investments for collectors!
Some questions I have are.
What does this mean for the future of Galleries? Who currently do not offer artists the ability to make money on future reselling of their work.
What differences and sameness do cryptoart collectors and traditional art collectors have right now?
How do they see perception changing?
Will Digital art be worth more than Physical art one day?
What does this mean for artwork in the physical world?
☕☕☕☕☕☕☕☕☕☕🚀🚀🚀🚀🚀
Canadian Coffee Painting made animation! (MY Virgin NFT and maybe first NFT painted in coffee)
Traditional artist making art with coffee, modifying for the cryptoworld. ☕
Follow links in my description for updated CV and socials! Grow with me!
#whatisannft, #nft, #cryproart, #renissance, #coffeepainting, #coffeeartists, #animation, #crypto, #etherium, #nonfungible, #tokens, #firstedition