What Is Crypto Art and Why Should You Care
Art is more than just being appealing to the senses. Art, for it to be great, must be able to rattle cages, stir emotions, or even set a chain of events in motion because of its message or pure aesthetic. So it’s hard to ignore art especially when it can be found all around us–even in technology.
When you mix art with technology, you get crypto art. Simply put, crypto art is digital art that is treated mostly like physical art that we see in museums or exhibits.
Much like its physical counterparts, crypto art has also been creating shockwaves in the industry because of its unique premises and how it can help designers, as well as artists, earn money and take their skills to a whole new level.
Some popular examples of early crypto art that has swept the internet include CryptoKitties, CryptoPunks, Rare Pepe, CurioCards, and Dada. NYC.
How It Works
So how can people earn from creating and trading crypto art? The answer lies in both the physical and digital world of dealing with art.
To begin, a piece of crypto art, like a real painting, needs to be verified for authenticity and its ownership. This can be determined through a non-fungible token (NFT). This special token provides a unique ID that is linked to a piece of crypto art to verify ownership while keeping the piece from being replicated.
NFTs can be attached to almost any piece of digital media like JPEGs, GIFs, and MP4s. Once it’s been attached, the token stores the original file on the Blockchain, a permanent ledger that keeps track of these files and can be accessed from all around the world.
Crypto art gains value because of scarcity. Think of it as collector’s items that people want to get their hands on for the sake of having the art even as a way to personally support the artist.
Crypto Art Will Continue to Surge in 2021
Recently, the crypto industry has seen a rise in trends and welcomed more eager participants who want to take part in trading, investing, and other related activities. Crypto art is no exception.
In 2020 alone, crypto art has gained momentum in online markets thanks to the NFTs which determine an artwork’s authenticity. Due to the COVID-19 pandemic, economies everywhere have taken an inevitable turn for the worse.
As a result, investors are looking for alternatives to hedge inflation. But through crypto art, those involved can find that they can get their money’s worth because of the authenticity from the NFT in a piece of art.
NFTs are also one of the reasons why crypto art is gaining traction in the market. Since auction houses and artists have seen a valuable increase in their assets after engaging in crypto art, other industries are also looking towards using NFT for their products.
This 2021, it will be no surprise when the physical industries of fashion, entertainment, and art will merge with NFT.
As for the artists who are involved in crypto art, they have found a new platform where they can start life-long careers without having to worry about gatekeepers who might think otherwise of them. Crypto art welcomes everyone and judges no one in the process.
During the pandemic, crypto art has created a community and platform that allowed art enthusiasts everywhere to enjoy and curate more pieces despite being indoors. And in the years to come, crypto art will continue to become the global art movement that it is and inspire more elements in art as well as other industries, to change in the trend.