NFTs from the Art Perspective: Benefits, Impact, and Examples

Education 28.03.2023

NFTs from the Art Perspective: Benefits, Impact, and Examples

Non-fungible tokens (NFTs) have revolutionized the art world, offering artists new revenue streams and greater control over their digital creations. In this article, we will explore the benefits of NFTs for artists, the impact they have had on the art market, and look at examples of artists who have embraced this new technology.

Benefits of NFTs for Artists

NFTs offer several benefits for artists, including:

  1. New revenue streams: non-fungible tokens provide a new way for artists to monetize their digital creations. They can sell their work directly to collectors without the need for intermediaries, which means they can receive a higher percentage of the sale price.

  2. Greater control: NFTs allow artists to retain ownership and control over their digital creations. They can decide how their work is used, and they can set parameters around how many copies are sold.

  3. Community building: NFTs provide a way for artists to build a community around their work. Collectors can interact with the artist and other fans, creating a more intimate and engaged audience.

Impact of NFTs on the Art Market

NFTs have had a significant impact on the art market, disrupting traditional models of art buying and selling. Some of the ways NFTs have changed the art market include:

  1. Direct sales: allow artists to sell their work directly to collectors, bypassing galleries and auction houses. This has made art more accessible to a wider audience, as digital artwork can be sold at lower price points than traditional art.

  2. Transparency: being stored on a blockchain, which means the ownership of a piece of artwork can be easily traced. This provides transparency for buyers and can help prevent fraud.

  3. New mediums: NFTs have opened up new mediums for artists to explore, including virtual and augmented reality. This has led to a wave of creativity and experimentation in the digital art world.

The Bitcoin Angel by Trevor Jones
Examples of Artists Embracing NFTs

Many artists have embraced NFTs, experimenting with new mediums and techniques. Here are some examples of artists who have entered the NFT market:

  • Trevor Jones: Canadian artist Trevor Jones is known for his pop art and surrealism. He has created a number of NFTs, including his popular "Bitcoin Angel" series, which features an angelic figure holding a Bitcoin symbol.

  • Pak: Pseudonymous digital artist Pak has sold NFTs for millions of dollars. Their work often explores themes of identity, culture, and technology.

  • XCOPY: British artist XCOPY creates digital art that explores the impact of technology on society. They have sold several NFTs, including a series of pixelated portraits that comment on the homogenization of digital culture.

  • Grimes: Canadian musician and visual artist Grimes has created several NFTs, including a digital video that sold for almost $400,000. Grimes has been a vocal supporter of NFTs, seeing them as a new way to monetize art.

  • Other notable artists who have entered the NFT market include Mike Winkelmann (also known as Beeple), who sold an NFT for a record-breaking $69 million at Christie's auction house, and Krista Kim, a digital artist who sold a virtual real estate NFT for $500,000.

By leveraging Cardano's blockchain technology, artists can create and sell their NFTs with increased security and transparency, while also being mindful of the environmental impact of their work. Some of the artists that minted their art as NFTs on Cardano are:

  • Netanel Cohen is an architect and graphic artist from Israel. On Cardano, he is known for his MiLK By Netanel Cohen which is collection of carton milk boxes all illustrated in unique and creative way.

  • aeoniumsky who is a visionary NFT creator from the future, renowned for their surreal and dreamlike animated artworks. His most popular series on Cardano is BLOCKS which is "A psychedelic art adventure". aeoniumsky is the artist behind CNFTcon Legacy Pass, which came out to celebrate announcement of first CNFTcon. Holders of the pass get discounts and other benefits.

  • Squashua is an artist from Oxford, England, where he lives and works to this day. He studied analogue animation at University in England before exploring a variety of artistic jobs and styles; caricature, watercolour landscapes, spray paint, murals, and commissions. In the Cardano space, Squashua is the artist who drew The OnBoard Furbles. He parted ways with the OnBoard team and now focuses on his own art collection "Wavy Life by Squashua" in which he draws locations around the city of Oxford.

MiLK By Netanel Cohen; BLOCKS by aeoniumsky; Furble by Squashua

Check out our marketplace, to find out more NFT art on Cardano.

In conclusion, NFTs have had a significant impact on the art world, offering artists new ways to monetize their work and explore new mediums. They have disrupted traditional models of art buying and selling, providing greater transparency and accessibility. As the NFT market continues to evolve, it will be interesting to see how it shapes the future of art.