Everything You Need To Know About Crypto Art and NFT and How It Can Be Of Your Benefit

 Now that we are in the digital age you might have come across the term 'crypto' quite a lot. Well, you might be pleased to know about a form of art called - Crypto art. If you are an artist who wants to pursue this or just someone who wants to gain knowledge on this matter, this article is keen to help.

Let's start with the basics. 

What is crypto art?

Simply put, it is a digital art form. It is also treated as if it's a physical artwork that can be purchased and put up in collections. An owner of crypto art needs to be verified about their right to ownership and the whole process is quite tight with its security. Digital art has been with us for a long time now but up until now it could not have been purchased, but crypto art and NFTs allow you to do that. 

The list of the variety of Crypto art is just as wide as physical art. It can arise from different platforms and be pictures of landscapes, VR dreamscapes, covers, program art, and so on. It comes in multiple forms such as still pictures, gifs, and even music. NFTs have entered in to the Metaverse world also.

This collection would have a high value just like art in physical form. It is bought, sold, traded, and collected by collectors who treat it like a physical asset. The main difference is that the platform is digital and the currency used is vastly different. 

The amount of artwork produced, even in crypto art gets exhausted at times. Then the price value increases and buyers are given the right to purchase partial royalties and even make further remakes of the same work.

The whole business runs on the principle of scarcity. 

The amusing factor about crypto art is that even though the art and transaction are digital, even physical art can be included in a blockchain cryptosystem. Most of the work in the field of crypto art is concerned with digital technology. 

What is a non-fungible token or NFT?

Now that you have grasped what crypto art is, let's move on to the tokens used for the proper transactions. These non-fungible tokens are involved in crypto art to represent something unique in each piece.  

These tokens help form a link between crypto and real-life currency. Once these artworks get their tokens their value can be converted into physical, measures of currency such as euros or dollars. 

This has a stark difference from cryptocurrency like bitcoin. They are not interchangeable tokens so you cannot let go of an NFT to get something in return, for equal value. The term non-fungible here states "non-exchangeable" so you can neither exchange it for cryptocurrency or money. 

How does NFT help?

These NFTs are crucial to make the artwork tokenized, so they can be monetized by the original owner so that these files cannot be endlessly duplicated and corrupted. It allows the artist to have rights over their creation. Thus, they can be only bought by verified personnel who have the certificate of ownership.

When it comes to physical art forgery is possible but the chances are much lesser. Whereas when it comes to crypto art the digital world is fairly good at being on guard and using the artist's artwork without them even knowing. There are options to print, remove watermarks, and something even as simple as copy and pasting or duplicating a file. Thus the net stops becoming a safe space for the artist. 

Not anymore, since NFT is trying to put an end to it. This new revolutionary movement is encrypting the digital source of an artwork with a secure chain so it remains true to its address i.e. with its owner. It also ensures that the piece is the one and only true peace since no other duplicate would have that NFT.

Even if someone tries to hamper the proper artwork and make a duplicate, it would never be the same as the original artwork. Thus the online theft, plagiarism, and scamming would drastically get lowered down.

Should you try NFT and Crypto art?

This is completely entirely new in the market but is booming because of the innovative idea. If you are an artist and would love to get your digital art the recognition it deserves you must definitely go for it, but research is necessary. If you dive into it without knowing anything you are bound to be super intimidated and confused. 

Make sure to sit down and go through the ups and downs of this business. You must be comfortable with it and ask for help from strangers online who have some experience in this field. If you are confident enough and flexible to deal with the unforeseeable problems it might bring upon, you are good to go.