How NFTs Are Helping Artists To Thrive

The Upside to Being An Artist In 2022

If you love to paint, dance, make music or write but have never thought much of the business side, this article is for you.

The creative world has changed over the years. Where there used to be a few careers available to artists, now there are more than ever before.

As far back as anyone can remember, artists have been pushing boundaries and influencing society. Now, technology is enabling innovative new ways for fans to support artists and their work.

How can this be? How can an artist make money with digital media? The main reason is cryptocurrency and its underlying technology called blockchain.

Art by Vector Meldrew (www.vectormeldrew.com)

The rapid emergence of NFTs on the blockchain provides artists with an opportunity to share digital music and art, while also giving fans or collectors a way to own the digital collectibles they love.

Victor Langlois, known as Fewocious in the virtual art world, started selling his stickers for $5 on Twitter in December 2020.

Within a year, he took the digital art world by storm, building a collection of NFTs valued at more than $26 million.

The recording industry, movie studios, galleries and publishing houses have previously always dictated how artists are paid for their work.

With NFTs and blockchain technology, this is changing.

Artists are being empowered to create, publish and distribute their art in ways never seen before. With a world of new tools and techniques available to digital artists, the possibilities are endless and success is in the hands of the artist.

At last, digital art can earn a living.?

'Life changing': African artists embrace NFTs

These innovations in technology essentially allow artists to keep all of their rights when producing art, while at the same time find a market to sell those pieces of artwork to a global audience. Those 2 things combined make right now a perfect storm for any artist dreaming big!

Although artists today face many challenges, with a little creativity and ambition, anything is possible.

Mikey Brain's Art Available on Foundation (https://foundation.app/@Mikeybrain)

One artist whose work I am excited to share with everyone is my friend Mikey Brain. He is an artist, originally from Birmingham, who, I think, deserves to be better-known. His works can be seen on his Web site (www.MikeyBrain.com) and soon his work will be available for purchase on Foundation.App.

Much of the art world is currently a black box. Art is bought and sold, but the process is shrouded in mystery.

The beauty of Blockchain technology is that it’s transparent. It allows for the recording of all transactions, including who receives what from whom, along with any associated data.

This can help artists and their galleries work out the financial details of a transaction in a way that was previously impossible.

The art market is changing, and it's never been more important to understand how your art is going to be valued and sold.

Mikey Brain's Art Available on Foundation (https://foundation.app/@Mikeybrain)

Why NFTs Are The Gift That Keep On Giving

• Added value: You can provide your customers with certificates that certify the authenticity of your products. It gives them peace of mind that they're getting exactly what they expect. These documents allow buyers to trace and verify that they own the rights to a piece of art — where it's stored, who it's by, and so on — all in one place.

• Branding: Artists are also uniquely positioned to benefit from digital identity technologies. NFTs allow them to have their own digital presence, which can be used to promote themselves and engage with fans. The same digital footprint that enables artists to connect with their fans can also help them protect their reputation, something that is just as important in today's marketplace as it was when people were trading paintings on the street.

• Community: With access to a platform for selling certified art, artists can expand their customer base beyond individual buyers. They can establish themselves as specialists in their field and be rewarded for it by being able to reach more potential customers through both word-of-mouth and online channels.? Artists can create communities for their fans to interact with one another and the artist, usually through a chat site called Discord.

• Traceability: When an NFT certificate is used with a blockchain-based identifier, these records can be retrieved directly from the ledger of the relevant tokenized asset — it's like having two pieces of paper that show you own something. This opens up a whole new world for artists and collectors as it is easy to check out how much they cost and who previously bought them. Art lovers who view the work can also see the names of all the contributors.

• Resale Value: If you decide to resell your acquired piece of art, the market value of the artist’s work will be visible, giving you an idea of what your piece is worth.

• Sell On Fees: The artist is entitled to make money from their work every time it sells.

Art by Vector Meldrew

Ultimately, the best time to be an artist is right now.

The world of art is moving towards a more decentralized model, where artists can connect and prosper with their audiences without middlemen or top-down structures getting in the way.?

If you’re an artist who’s looking for new ways to support your art, or a technology enthusiast trying to get in early on the next big thing, these new technologies could be exactly what you’re looking for. And even if you don’t make your living through creativity or art, there are still a lot of exciting things to look forward to in this space.

I hope you found this article useful!

Please let me know if you did in the comments below.