One of the hottest trends in the revolutionary world, NFT art, has created an unparalleled niche for itself. Its charm has grown so much that from someone as young as 18 years Fewocious to as old as 87 years Jose Delbo has jumped into the NFT space.
Recently, there was this news that the emerging NFT market is expected to reach $200 billion by 2030, which in itself speaks volumes about the rising fever of NFTs worldwide.
What is NFT art?
A digital file ranging from an article to artwork, meme, or even audio file can be termed an NFT art. It is unique, collectible, and can’t be transferred.
Though digital files are easy to copy, this isn’t the case with NFT artworks, as they are purchased as well as sold with a digital certificate. The certificate proves ownership of the creator behind the NFT, and there could be only one owner at a time.
NFT art: The most selling type of NFT
Not only is art the most famous form of NFT but also the most selling one. A number of the most costly NFTs constitute artwork. “EVERYDAYS: THE FIRST 5000 DAYS” is the best example.
The same is true for video art as well. Be it GIFs or short videos, they sell in millions. For instance, Crossroad, a 10-second video that shows a naked Donald Trump lying on the ground, was sold for $6.6 million.
How do NFTs benefit artists?
For artists, NFTs have a lot of perks, with some of the prime ones as-
1. Global market reach
NFT artists can easily target and reach a global audience to showcase and sell their works. Digitalizing artworks makes the collection accessible by every kind of buyer irrespective of their location without depending on exhibitions or art galleries.
2. Optimum security
Physical artwork is risky in terms of transferring and transaction; however, such issues stand no chance in the case of NFT art. This is because non-fungible tokens act like an immutable digital signature owing to which they are safe for both the creators and collectors. Furthermore, artworks reside on the blockchain, making them safe from physical decay and censorship.
3. Reduced entry barrier
Small and new artists have access to the same level of entry as big and established artists. Hence, every artist enjoys hassle-free ways to market and distribute their creativity in front of potential buyers in whichever marketplace they prefer without spending huge bucks. Moreover, hurdles like retail chains, publishers, and other gatekeepers are eliminated.
4. Effortless monetization
Monetization of art pieces is no problem with NFTs. Creators and artists can create their profiles and earn a reputation in the community, which helps them to make money with ease.
An artwork makes money after a certain period of its creation. NFTs allow artists to receive a particular percentage from the future sales of the art created by them.
The best selling NFT art
Pak is ranked the highest-grossing NFT artist and has been actively involved in NFT for two long decades. He has sold about 66,476 of his own NFTs with ‘Clock’ being his highest selling NFT which was sold for $20,232,912.15 or 16,593.059 ETH.
Some of the top NFT artists
Though there are an infinite number of NFT artists; however, the world of NFTs is being ruled by only a few of them. Some of these leading names include-
- Matt Kane
- Refik Anadol
How to become an NFT artist?
Follow the simple guidelines mentioned below, and you are good to become a celebrated NFT artist-
- Finding the right niche: A clear niche is a way to begin in the digital world, and to do that, one must figure out the type of art they want to indulge in or create.
- Picking the technology: The technology required to create the particular NFT needs to be identified next.
- Creating the NFT art: Instead of focusing on the results, focusing on creating the NFT is how great artists are born. In the NFT world, success might take time, but if the art is worthy, it will make its name. For instance, Beeple created artwork regularly for 13 long years, and then came the day when he sold ‘Everydays: The First 5000 Days’ for a whopping $69 million.
- Picking the right marketplace: There’s no end to the NFT marketplace, but to find the right one, certain factors such as gas fees, minting cost and other costs must be considered.
- Creating a community via social media: Social media greatly supports finding potential buyers or clients. Establishing one’s existence and showing creativity can’t be missed. Besides social media, blogs as well as long & short-form content, Q & A sessions, and of course, streaming interesting videos are other ways to build credibility and a strong presence.
- Staying active and engaging the community: Communicating with the audience, creating a story, and sharing it is a necessity to make the community feel connected as well as to understand their expectations.
- Staying consistent: Consistency is the key to achieving goals and building trust, eventually turning interested people into buyers.
- Creating a network of artists: Connecting with other artists always works. Sharing their work is how one can convince others to share their work in return.
How to create NFT art?
Here are the steps to make an NFT art-
- Selecting the right NFT marketplace and creating an account is the first step. OpenSea is a good choice.
- Creating a digital wallet is the second step to storing NFTs and cryptocurrency. Ether is generally the most recommended.
- OpenSea suggests the Google Chrome extension of MetaMask. In case there’s another cryptocurrency wallet including ETH, a Metamask wallet can be created to transfer the ETH into from the already possessed wallet.
- On the interface of the OpenSea account is ‘My Collections,’ which needs to be clicked. It acts as the gallery or store of a user’s digital art.
- Now is the time to customize the collection by naming it, putting a description for it, and uploading a display image.
- After finalizing the collection, the procedure to create the NFT starts. To do so, click on ‘Add New Item,’ upon which the option to enter metadata comes and includes visual, audio, and 3D files. The token also needs to be named.
- Add levels, properties, and statistics where required to allow buyers to filter the artwork. After adding the details, the NFT can be added to the blockchain by clicking ‘Create.’ Here, ETH is essential for payments such as approval and gas fees.
- Payment tokens that are preferred to be accepted must be chosen along with the royalty percentage wished on the secondary sales of the NFT art.
How to sell NFT art?
Selling NFT art is effortless with the process explained below:
- A digital wallet has to be created to store & spend the cryptocurrencies besides transacting on marketplaces to purchase and sell NFTs. A wallet that’s compatible with Ethereum is considered the best.
- Finding a marketplace to list, mint as well as sell the NFT art is the next step. While selecting the marketplace, checking the platform fees and the cryptocurrencies it supports is important.
Minting and listing fees cost money; hence, buying ETH is important before starting the process and listing.
- The digital wallet can be linked with the marketplace now. The ‘Wallet’ icon connects the wallet within a few clicks.
- Now is the time to upload and sell the NFT art. Click the ‘Create’ tab to be redirected to an upload workflow.
- After entering the details and a powerful description, upload the NFT. The royalty amount can also be set.
- Listing can be set either as a fixed price or an auction.
Best marketplace for NFT art or artists
- Nifty Gateway
NFT community for artists
The Forest is not only the first NFT community created for artists, creatives, and designers but more than that.
It nurtures the creators and artists with knowledge, tools, and connections that are both collectible and non-transferable. The Forest is basically an educational platform dedicated towards supporting artists to prosper as successful NFT creators.
Popular celebrities who launched NFT art projects
The aura of NFT art has worked its magic to attract even celebrities. Some of the NFT art-obsessed names include-
- Paris Hilton
- Lindsay Lohan
- Shawn Mendes
- Snoop Dogg
- Kate Moss
- Cara Delevingne
- Steve Aoki
An NFT art refers to a unique digital asset that is collectable and can’t be transferred. It can’t be copied, which makes it rare & limited.
The NFT craze has increased like anything and the entry of celebrities and influencers has definitely made non-fungible tokens an insane investment. However, when it comes to buying them, it is one’s personal choice so there’s no certain good or bad.
Yes, you can make NFT art based on your preferred niche and sell it in the suitable marketplace.
A creator or artist who creates a rare and creative piece of art with a trait that makes it incomparable from other artworks is an NFT artist.
Artists who have a rare NFT and loyal followers have possibilities of making money. They earn capital through royalty too. However, until someone is established, making good money is not possible.
The list of best NFT artists has some influential names; however, Beeple and Pak are the best among them.
‘The Merge,’ by Pak is the top NFT seller and was sold for $91.8 million in December 2021.
According to the data, the best NFT art is CryptoPunks followed by Beeple, Pak, BAYC and Axie Infinity.