Digital arts bitcoin
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It is the unique bearer of its inherent value. Mona Lisa tea towels are all too fungible. Rob Anders explains that, although digital art has been around since the s and increasingly figures in major collections and biennales, it has always faced a problem: how to create non-fungible artefacts and thereby money. NFTs, says Anders, do just that. How do NFTs work?
To answer that we must consider basketball icon LeBron James and a cartoon cat with the body of a Pop-Tart. But why would a video clip that can be seen on Twitter or YouTube be worth a bean? The answer is because this single clip uses the blockchain technology that underpins such cryptocurrencies as bitcoin to authenticate its provenance. To put it more simply, this technology creates a digital item that can only ever be controlled by one person — enough to make it, in the eyes of collectors, the original. The spillover of this technology to such items as video clips has created several improbable markets and entities.
Mark Cuban, owner of the Dallas Mavericks, explained the appeal. Some people might complain that I can get the same video on the internet anywhere any time and watch it. But the only reason Cuban can sell his collectible Kleber clip is because whenever an NFT transaction is made, the data is timestamped and then has to be validated by the blockchain, which contains a history of each transaction. If you think all this sounds improbable, do you know anyone who would want to own the winning goal of the World Cup?
Consider, too, internet sensation Nyan Cat, an animated feline with a Pop-Tart for a torso that flies through space to a soundtrack of Japanese pop. Nyan currently has million views on YouTube. As result, these NFTs will become collectibles from which the band hopes to create revenue by getting a cut of sales and resales.
Flying cats and a burning Banksy: why are digital art prices suddenly rocketing?
This new income stream is welcome for the likes of Kings of Leon given that, in the past 20 years, recorded music has been devalued. But hold on. Why would you buy the Kings of Leon album in either digital or vinyl format when, most likely, you can already hear it for free? NFTs suggest another model of digital art, one in which the creatives get paid properly. This new ecosystem of platforms is very exciting, but the moment there is an opportunity for speculation, there is also a risk for the artist.
Read the terms of service carefully to learn about how they handle intellectual property, fees, refunds, etc. Hello, I just came across your article while doing research on selling my digital artwork online.
It is striking that many of the NFTs being bought and sold for tens of thousands of dollars are gifs, memes or video clips of algorithmically created pixel-art characters. But this is different. Download the CTV News app now. The cryptocurrency world is abuzz with talk of digital collectibles, unique virtual tokens that can represent anything from art to sports memorabilia. You may be able to find more information about this and similar content at piano.
Thank you! Something to think about beyond, you know, all this abject weirdness.
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- Nyan Cat is being sold as a one-of-a-kind piece of crypto art - The Verge.
Hi, sorry if this seems like a daft and naive question, but how would i get my art from say, my procreate to a marketplace. What format should it be saved in? Hey, Mana! Not naive at all! The advice that I hear people sharing is: upload the highest resolution possible. If the platform accepts TIFF, great! I am not sure that these platforms accept PDF files.
It also depends on whether collectors can print their art or not each platform is different. Did I answer your question? Thanks, Jeanine! Well, from what I can see, the spectrum is pretty wide! From photographs to GIF, videos, illustrations, etc. I hope this helps! Hi, Great article. Do you know if the art can be created with traditional methods paint, pen, marker, etc and then photographed and uploaded or does it actually have to be created digitally?
Hey, there! Great question.
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You could digitize art made with analog mediums, but then the question is: Which one is the piece? Is a photograph of a drawing a piece of art or a photograph of a piece of art? What are people buying if they purchase the photograph? Does it make sense? I was wondering if in the case of paint or sculpture would it be possible to sell the original piece or only a digital version, picture, or video.
Hey, Mason. In theory, nothing. But most of the art that I see on these platforms cannot be vectorized animations, 3D models, etc. I think that the use of blockchain is not a way to make forgery-proof art, but to redefine what authenticity and ownership mean for digital art in the 21st century.
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Thomas Great article. Or, are art collectors actually selling digital images of the physical art they own? Seems there would be a rights issue between the collector and the artist?
Can you please clarify that? Hey, Joey! Thanks for reading and your comment—great questions! Some platforms allow users to do this through proprietary apps to ensure that pieces remain unique and that the chain of traceability is not broken. Regarding selling, these platforms are marketplaces, and collectors can buy and sell art on them.
A since the art is digital, there is no physical copy per see, and no copies can be easily made. Does this answer your questions, Joey? Thanks again for stopping by!
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Hey, Sami! Thanks for your kind words. If you are looking for websites that specialize in photography, you can license your photographs on px, for instance, but there are many others. Does this answer your question? Thanks again! I am a traditional painter who uses canvas and oil paint, Can I use the images of the final painting and make a Digital edition? Hello, SilVerMaiNe! Thanks for your question. Technically, yes, you can upload a photo of a painting, but my question to you is: Which one is the piece, then?
Do you consider a photo a mere representation? What would make the photo unique?