NFTs are certainly gaining ground in the art world — but they’re more than just a fad for the rich and tiring. They are tools every digital artist can use to sign their work and ensure it’s never plagiarised — whether or not you’re just starting out, determined to remain indie, or have “made it” to the mainstream and are getting pats on the back for work like a blank piece of paper you’ve stared at (yes, that really happened).
Here’s an easy way to understand what NFTs are, how they work and why they are so darn useful.
Simply put, NFTs (Non-Fungible Tokens) are a way to prove digital ownership. Here are the top 3 things we think you should know about them, so you can use them safely and easily as an artist or art collector.
So whether you’re able to purchase limited first edition prints for large sums or starting up your collection with a piece that costs $1, working with NFTs makes sure that everybody wins. The artist is credited for their work (and are paid royalties in perpetuity), you’re credited as the rightful owner, and nobody is being priced out of the market by (or losing money to) elitist intermediaries.
When an artist chooses to mint their work and turn it into an NFT, they turn it into a digital collector’s item.
So whether you’re minting a one-of-a-kind piece of content or sharing a limited edition of 25 prints, you’re able to create digital scarcity — allowing your work to gain in value. So, if you’ve minted a digital artwork, someone who has a copy of it they’ve pulled from a Google Image search may enjoy it privately but they won’t be able to sell it and cut you out of the royalty chain (or claim the work as their own). Unless their copy is an NFT, it’s immediately identifiable as a fake — NFTs can only have one owner at a time, and each one is unique.
Can NFTs be copied, stolen or hacked? Copied? No. Hacked? Unfortunately, yes they can. But that’s only if your NFT platform suffers from slack cybersecurity measures or user accounts aren’t properly protected with strong passwords.
The art world has certainly experienced a bubble around NFTs that’s fuelled some drastically inflated values. However, we believe that the core technology driving NFTs will prevail and thrive.
The true value of NFTs lies in their ability to prove who created a piece of digital work, and to track its history of ownership. Content is regularly stolen from talented creators online and reposted by others without credit or compensation. Using Momint, NFT content is easy to post, collect and share for all. Every piece on this platform has a provable ownership history, traceable right back to the creator.
We hope you found this article helpful! We’re going to keep on creating short content about NFTs, blockchain technology and digital art. If you have any questions or if you would like to watch/read something related to these topics, then email us at email@example.com.