Each of my paintings come with the option of a minted NFT to make
your investment not only spiritually and visually profitable, but financially as well.
What is NFT Art and Why is it a Good Investment?
Traditionally, investing in art has been something only the wealthiest of us could enjoy. However, with the emerging NFT art market, more and more people are getting in on the action, seeing considerable returns on investments in crypto assets. With some inspiring pieces appearing on marketplaces and a generation comfortable with the technology about to become wage-earners, there’s no longer any reason to ask is NFT art a good investment.
Non-fungible token (NFT) based artwork are digital assets that are validated and maintained on the Ethereum blockchain. Using Ethereum’s smart-contract technology, the provenance and ownership of artwork are guaranteed. In addition, artists can continue to receive royalties from their artwork long after being sold, with most platforms offering payments in perpetuity.
These artworks range from jpegs of traditional fine art to animated gifs and memes. Some are beautiful pieces that wouldn’t look out of place in a gallery, such as Archai Nair’s enigmatic Swerve, a piece whose buyer is looking to make a $40,000 profit from.
Having been around for about five years now, the NFT art scene is diverse and spread over multiple marketplaces, including Nifty Gateway, Opensea, SupeRare, Rarible, and KnownOrigin. These platforms help artists “mint” their artwork, creating identifiable, unique editions of their artwork. The upshot of this is that, upon a piece being sold, the buyer is guaranteed they are the one and only holder of the artwork. While people can copy and paste a jpeg as much as they like, the token held on the Ethereum network is proof of authenticity and ownership.
For some, paying thousands for a jpeg or video file may seem an unsound investment. However, with the NFT market tripling in size in 2020 to $250 million and the first quarter of 2021 seeing sales exceed $2 billion, the space is growing at an unprecedented level. This growth leaves plenty of room for more upcoming artists to cash in on the trend, with keen investors able to reap the benefits of spotting an emerging NFT creator. (NFT’s Street, August 15, 2021)