What is NFT crypto artwork?
If you’re reading this site, you’ve probably at least heard of NFTs, or non-fungible tokens, and crypto artwork. However, you may not be very familiar with what they actually are or what they are used for. They have many use-cases, but the most common right now are works of art and collectables.
Celebrities are jumping on the NFT train in droves by releasing anything from digital action figures, to original music tracks, to digital clothing. Outside of your typical celebrities, existing artists are obviously flocking into the space to grasp all the benefits of NFTs as compared to standard artwork.
If you are familiar with cryptocurrency, buying NFT art is a very similar process to buying crypto coins (using MetaMask or another wallet). Once you buy it, you are the sole owner to the “deed” to the artwork. The purchase is public knowledge as the owner’s public key is immutable on the blockchain, and you also own the rights to what happens next with the work.
What is an NFT?
NFTs (Non-fungible tokens) are digital assets like pictures, art, music, text, and more – read more in our detailed guide on what is an NFT. There are many blockchains that support NFTs and crypto artwork, each with their own positives and negatives, but some of the most popular are:
Check out our background on all the aspects to consider when selecting a blockchain for your NFT.
Where can I buy NFT crypto artwork?
Oh boy, where do we start? Ah, how about our article on where to buy NFT art. The quick overview though, is there are many places to buy NFTs and crypto artwork, and more are coming online every day. However, some of the most popular are:
Depending on the specific marketplace, there may be all different kinds of digital and crypto artwork, or it could be much more niche and specific with just cards or more specific items.
How can I invest in NFT crypto artwork?
Well, the easiest way is to simply buy some crypto artwork or collectables, and wait for their price to appreciate over time. While this may be the simplest way, it is by no means foolproof. There are obvious risks involved (as with any investment), such as scammers and no guarantee that the price will increase over time. In fact, it is more likely that the price will drop.
A more risk averse way to invest in crypto artwork is to invest in the technology (i.e. blockchain) itself. This spreads your risk out over all projects and applications on that particular blockchain, instead of limiting it to just one.
Keep in mind though, there are diamonds in the rough. If you are risk tolerant and have some spare money (that you are willing to lose), investing in crypto artwork can be incredibly interesting and have huge payoffs.
How can I sell NFT crypto artwork of my own?
The simplest way to sell NFT crypto artwork is by using a marketplace. You don’t necessarily need coding or programming skills for creating and selling crypto artwork, as really anything that you digitally create and own can be minted as an NFT.
First, you’ll want to review the pros and cons of each marketplace. The larger ones will obviously have more buying eyes but will, in turn, have more sellers to compete against. There are also costs involved depending on the marketplace and blockchain technology used – some can be quite expensive (Ethereum), while others are essentially free to list (Solana, but the marketplace will take a cut).
Conclusion to buying and selling NFT crypto artwork
In this guide, we discussed the simplest and quickest ways to get your crypto artwork on a blockchain by using a marketplace, some of the research that needs to be done beforehand, and a few risks involved with buying and selling NFTs.
Another method to create and sell crypto artwork is by writing your own code to allow a computer program to create generative art, where even the artists themselves don’t know exactly what it will look like until it is minted. But, that’s a whole new ballgame with many additional complications, and we want to give it the attention it deserves in it’s own post.