Real or digital cryptocurrency-related artwork, as well as physical artwork tokenized on a blockchain platform, are examples of crypto art. Both are correct. Crypto arts, according to Artnome’s Jason Bailey, are rare digital artefacts associated with unique and rare tokens within cryptocurrency. The concept of ownership, uniqueness, collectors’ items, and digital scarcity make art valuable through NFT. Naturally, NFT is tradable and a digital asset in and of itself.
The company was founded in 2014 and became the first platform to permit artists to make unique keys that are associated with their art and then store them on a blockchain. Artists are then able to transfer the rights to the works they have created if they wish to sell them.
There’s also The Rare Pepe, introduced in 2016 by a blockchain platform known as Counterparty, due to the increasing demand for uncommon Pepe memes. But, it does have its own history. In the year 2018, Rare Art Fest, a festival devoted to crypto-art and digital rare art, was held in New York City. The Homer Pepe was auctioned off at the festival for $39,200. From there, the crypto art scene has no signs of slowing and continues to attract more interest.
The most important issue and the most commonly asked question about cryptocurrency art concerns ownership. When a purchaser purchases an artwork that is cryptographic, the purchaser is the sole person who owns the NFT connected to the artwork. The NFT isn’t able to be replicated or copied by any person. Thus, the buyer is the owner solely of the NFT and the true owner of the artwork.
Although the realm of physical art is often a source of controversy due to the high prices that are charged for works (an excellent instance is the banana that was duct-taped in Miami that was recently bought for $120,000), there is a new art scene that is growing by the second that focuses on digital art and specifically, crypto art.
Crypto art works are digital artwork that’s licenced and distributed with blockchain technology. It’s possible because of the technology of Ethereum’s ERC-721 non-fungible token standard and the ERC-1155 standard. These tokens are generally called NFTs (non-fungible tokens). Learn more about the ERC-721 token and other Ethereum Improvement Proposals that are popular (EIPs) in our earlier article.
· The reason for the art of cryptography is:
The purpose of a crypto art piece is as straightforward as an aesthetic item to collect. It is also used to decorate or as a garment in VR and virtual worlds like Cryptovoxels as well as Decentraland.
There is a variety of crypto art, ranging from gifs, paintings, cyberpunk-inspired 3D objects, voxels, as well as AI-generated art. These can be purchased for anywhere between Ks 0.01 and hundreds of dollars. It’s still art, and we are all aware that when an art collector discovers that special piece they’ve been dreaming about, the cost is not an issue anymore.
How do you create crypto art?
The term “crypto artist” refers to an artist that creates digital artworks that are then displayed in digital galleries and later sells them for digital money (or digital currency). This is my (very personal) small guide to becoming a crypto artist.
· Create a Medium account:
Open a digital wallet that uses cryptocurrency. The most sensitive aspect is that it is a matter of money (digital and physical). Don’t divulge your private key or write it down on the paper and put it in a safe location (which you’ll be able to find!). Everyone, except you, has access to your private key. If you lose it, you’ve stolen your money. Instead, you can make use of your public key for payment or any other digital work.
Showcase your work through a digital gallery. In order to access these galleries, it is required (but not necessary) to possess a digital wallet. The presentation of the artwork is not immediate. Each gallery selects the artists who will be exhibiting.
Take part in their social networks to be recognized. If your work is shown in a gallery, make a cross-reference between your work displayed in the gallery and your post on Medium.
Make sure you check regularly if there are any potential buyers for your work. If you’re satisfied with the deal, you can make an offer to sell the piece (remember that offers are able to be changed). You’ll discover that it’s a bit uncomfortable to lose an art piece that you made with such passion and that you consider to be yours regardless of whether it’s digital, which makes it not permanent. This is in line with the idea of digital artwork being an authentic kind of art. Be aware that you are able to offer your artwork for donation (and receive it in exchange for gifts).
Rather than investing in digital currency, consider using it to create an ephemeral collection of digital art or to make charitable donations. You will benefit both the market for digital art and the artists by doing so.