It is the very nature of art to transform and evolve as time goes by reflecting the changes in society, economy, culture, the political landscape and ideologies. Over the past couple of years, it has been technology which has revolutionized the art industry by not only providing new artistic mediums but also introducing new methods to conduct business, where people can buy paintings online.
Digital art vs Traditional art
Digital art has come a long way to be considered as a legitimate art form by both the public at large and art critics themselves. As a contemporary female artist who also creates digital art, I have been in numerous passionate discussions where I had to defend the integrity of digital art and how it holds the same artistic value as canvas paintings. Over time, I have seen the conversation around digital art change and the strides that are being made in the digital art realm which I am excited to be a part of.
Over the past couple of months, you could not really talk about digital art without segueing into the topic of cryptocurrencies, crypto art and how they are shaking up the art world. Having always been fascinated by them, I wanted to incorporate this amazing technological development into how I presented my art to the world and my online presence. This is when I discovered Non-Fungible Token, otherwise known as NFT.
Non-Fungible Token?
For those who are uninitiated, NFTs directly address the concerns of scarcity and authenticity that buyers and collectors of physical art have when it comes to acquiring digital art. NFTs are produced with the help of blockchain technology, which just like the Bitcoin, provides a secure record of transactions. This helps in maintaining an unquestionable proof of ownership and provenance that ensures that original artworks and their owners are always identifiable via the blockchain. These NFTs can be taken as virtual signatures which helps in securing the value of the digital art regardless of how many times it is reproduced.
It has not been long since NFT entered the lexicon of online traders, however in its very short span of entering the digital realm, it has caused quite the commotion in the art market. With collectors and speculators having spent over $200 million in the past month alone on acquiring digital art, NFT has finally provided a trustworthy solution for apprehensive buyers who have always been interested in purchasing digital art.
NFT is not only a shining new opportunity for art collectors but it is also a great one for digital artists like me. For example, NFT allows for artists to receive royalties every time their artwork is traded or sold which is incredible as this allows them to keep reaping the financial benefits of their work perpetually. Plus, with NFT rapidly becoming the gold standard of authenticating and validating digital art, the market for digital art investment is quickly expanding leading to higher demand for our work.
The next big step!
If you are on my mailing list or follow me on social media (if not, please sign up!), you might already know about my exciting plan involving NFTs and the launch of my Beauty in Diversity & DeFi series. I have created my first digital painting titled Satoshi Nakamoto which was launched and sold as an NFT along FOMO and the Byzantine Shield artworks. Not only that, I will be releasing as part of the Beauty in Diversity & DeFi, a series of 25 limited edition paintings that can be bought with redeemable NFTs, the first of its kind in the UAE and the Middle East.
Additionally, starting from 01 March 21, I became the first artist in the Middle East to accept payments through cryptocurrencies for all sales, be it online or offline. All of my artworks will now come with their own NFT certificates and all of my NFT verified digital art can be redeemed for an actual painting at the buyer’s request. Like always, my website will remain a place where people will be able buy contemporary paintings online using fiat or cryptocurrency.
The future for the digital art market is bright and promising, we are on the precipice of a revolution where the constrictions of buying and selling your art online will be completely eliminated. Follow my NFT Marketplaces on Foundation.App, OpenSea and Rarile (probably more soon) profile to stay tuned to all of my new digital art releases and keep on reading this blog to stay up to date with the ins and outs of the art world.
Check my digital art collection here.
Shop my artwork collection here.