When Beeple’s “Everydays: the First 5000 Days” – a collection of 5,000 pieces of digital art – sold for $69 million, it signaled the arrival of crypto wall art.
Crypto art tends to confuse people, but it’s the same as any other art form. The only difference is that these digital artworks are assigned value through blockchain technology. If anything, the sale of Beeple’s piece brought NFT art closer to the traditional art world.
In this post, we’re going to help you make sense of crypto art. We’ll tell you how it works and give you a crypto art guide so you can start your very own collection. Keep reading, and you’ll have a better understanding of what crypto art is and why it’s taken the world by storm.
What Is Crypto Art?
Crypto art can involve everything from digital images to videos, music, and everything in between. These works of art are then verified and preserved on the blockchain using non-fungible tokens (NFTs). In turn, NFTs are assigned a certain value in a particular cryptocurrency – most prominently, Ethereum.
When you compare it to the traditional art world, crypto art isn’t so different at all. An original Picasso goes through a similar verification process and is given an arbitrary value based on what the market will pay for it.
There may be copies out there, but the original is the one that is sought after and thus holds the most value. Prior to the advent of NFTs, digital art could be replicated countless times, making it hard to verify the original.
Now, because authenticity is baked into the crypto art, a piece is easily verified. This allows the artist to make money from their work and even collect royalties when the NFT is treated more like a commodity than a piece of art.
How Crypto Art Works
To start buying crypto art, you need to first buy cryptocurrency. Ethereum is the most commonly used for buying and selling NFTs. You’ll also need a crypto wallet to keep your money in.
With a wallet stuffed with cryptocurrency, you can join an NFT marketplace and start browsing for crypto art. You can visit this crypto art page to get a sense of what the marketplace looks and feels like.
Building an NFT collection is a great way to diversify your crypto investments. It can be volatile, however, so it’s crucial to keep a keen eye on your collection at all times.
Once you’ve fallen in love with a piece of art – especially one that’s particularly valuable – you may want to turn it into wall art. When you choose crypto wall art, you can really celebrate your collection.
Crypto Wall Art Now and In the Future
Imagine a world where crypto wall art dominates galleries and bedrooms. Although crypto art and NFTs are predominantly online, it’s not unreasonable to think they could make another leap toward the traditional art world. Now that you know more about them, you can start collecting yours today.
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