The Growth of NFT Art - Why to Create Yours
NFTs stand for non-fungible tokens, which are unique identifiers assigned to digital art pieces, thus enabling people to establish ownership over them, which allows them to use, trade, or sell the pieces. As such, NFT art refers to any digital asset that meets these criteria - anything from poetry to books, drawings, paintings, films, and music. Such art is available on the blockchain, and its ownership details are available to anyone who looks at the blockchain transactions. So, what makes this art unique?
Its ownership is easy to establish
Since ownership changes hands in immutable blockchain transactions governed by smart contracts, people cannot change or delete transaction details. Your NFT will belong to you until you trade it or someone buys it from you per the terms stipulated in your contract.
Its marketplace is huge
NFTs are digital assets and are thus available to anyone who can access the internet and has the money to pay for them. Thanks to this, you can access a wide range of clients. Moreover, you can establish yourself as an artist and get a following that allows you to enjoy a ready market for your upcoming pieces.
Best of all, this kind of art is highly profitable. You don't need a physical gallery to showcase your work and can offer your pieces to all types of clients - you can even market your work using social networks to increase your visibility. Making this kind of art thus paves the way for you to become a renowned artist.
A Step-By-Step Guide on Creating NFT Masterpieces
While NFTs have garnered a lot of interest from worldwide audiences, here are some things you should know. One - people will only buy art that holds meaning to them. This meaning could be historical, emotional, or functional. Two - most people will buy art that is hard to find on the market. The rarer the piece, the more attention it will get. Three - people care about quality. They will not part with money to buy something they can make themselves or is available at a much lower price. As such, you should take time when creating your art to ensure it hits this tri-factor. Here is how you do this:
Research NFTs Down to an Art
It's important to know what these digital assets entail, what the market wants, and the current trends. As you do this, you can look at various collections in the marketplace, talk to other artists, and determine the best way to approach your creative process. You should also look at the best digital tools per artists' reviews.
Create Your Art Piece
There are two important processes in this stage. The first is to figure out the message you want to communicate to your audience. The second is to determine the best medium to use. For example, you may decide to communicate love through a digital painting. Since NFTs are digital assets, you will rely on digital tools to create your piece. In this case, we could use Adobe Photoshop to create the painting - many other tools are available for various mediums. Use your research from Step 1 to determine the best way to go about this.
Set Up Your Digital Wallet
People who buy NFTs do so, knowing that the ownership details will automatically change once the money has changed hands. And blockchain transactions ensure this. So, you must select the blockchain you will use to sell your art. When choosing your option, consider its pros and cons and ensure it supports NFT sales. Once you have found the right platform, set up your digital wallet and fund it with some cryptocurrency to help you cover any transaction fees you might incur in selling your piece.
Choose a Marketplace to Mint the NFT
Your digital art will not become an NFT until you "mint" it. But what does this mean? While it may sound complicated, this is the simple process of assigning attributes to the art, including its description and ownership. At this stage, you will also execute the smart contracts that will govern its sale price and whether you want to receive royalties during subsequent sales. You can do all this on an NFT marketplace, where you will also create an account and connect the digital wallet you created in Step 3.
Market Your Art
Creating art that sells is an intricate process. Is marketing as time-consuming? Hardly - when you have good art, it will pretty much sell itself. However, you must get the word out that the art exists. How?
- Put your NFT up for sale on the marketplace: You have two options when selling your art—you can hold an auction or set a hard price. Your choice depends on many things, including your target audience and expected profits. Ensure you provide a lot of information about your art so that collectors can review it as they consider purchasing it.
- Get the word out about your art: The more people that know about your art, the higher your selling chances. You can use different marketing channels to get traffic, including social media and NFT communities. Think about where your target audience is and find ways to reach them.
Once your art sells, the smart contract will govern the sale, thus processing the funds and ensuring you get your pay. You can use this money to create more art or invest in other aspects of your life.
Conclusion
The ownership and accessibility perks in NFTs make them a great investment for collectors, enabling artists to sell more than they would in the physical world. To get the most out of this lucrative industry, ensure that your art piece conveys meaning to its audience and is unique enough to attract a lot of demand. If you can do this, selling it will be a walk in the park, as there are many collectors who want to own such pieces.