When It Comes to NFT’s, Almost Any Digital Asset Can Be Sold by Creators and Collectors Alike
People worldwide are spending millions on GIFs, JPEGs, MP3s, MP4s, tweets, and several other types of digital assets. Rob Gronkowski, Grimes, and Logan Paul are a few of the celebrities and artists that have recently jumped on the opportunity to sell digital collectibles. In February, a digital animation of the “Nyman Cat” meme featuring a flying cat with a Pop-Tart for a body earned its creator Christopher Torres nearly $600,000. Would anyone spend such a large sum of cash to buy art viewable online? Welcome to the world of NFTs.
NFTs, or non-fungible tokens, are a unique type of cryptocurrency that exists on a blockchain. Each NFT token represents a unique digital asset and permanently records ownership using blockchain technology. NFTs are like certificates of authenticity meaning the original cannot be copied, stolen, or duplicated. Unlike Bitcoin, NFTs are not interchangeable and do not have a standardized common value. Blockchain establishes trust and transparency for both the artist and collector of authentic and rare collectibles.
While NFTs are not new, it’s a topic that is dominating the art industry lately. Blockchain-backed digital art spiked attention when an artist that goes by ‘Beeple’ raised $3.5 million during his NFT art collection auction in December 2020 and reached a staggering $69 Million purchase price in March.
Historically, digital art has been nearly impossible to monetize especially for creative entrepreneurs without a large fanbase. Because NFT art, also known as crypto art, has provenance records stored on a distributed ledger, online art platforms such as TABU Art have made it possible to shift the market power back to the artist. TABU Art has built a community for Collectors and Creators to buy and sell digital art and goods online. Creators worldwide can now bring a unique vision to life to share with art collectors.
For many artists, NFT sales have become a primary income. Aaron Holley, Co-Founder of TABU Art, said, “Online art platforms like TABU Art provide Creators a way to become financially independent by selling high resolution and limited-edition digital versions of artwork through an online personalized gallery.” This makes it easy for independent creators to apply artwork to the blockchain and start growing revenue by connecting with collectors from around the world.
Interested in NFT art? Discover, buy, or sell rare digital art using TABU Art a global NFT platform. Visit tabuart.com to learn more about how to get started today!
