An NFT Artist is a creator who uses digital platforms to make rare and unique artworks, tokenized on blockchain technology as non-fungible tokens (NFTs). The burgeoning field of NFT Art has created a new frontier for artists, collectors, and investors alike.
In 2020, the NFT market saw a dramatic increase in growth and popularity with the total sales amounting to over $250 million.
Background and History
NFTs, and subsequently NFT Artists, didn’t exist before the arrival of the blockchain technology. They are a byproduct of the Decentralized Finance (DeFi) movement, which seeks to utilize blockchain to eliminate intermediaries in various financial areas. Crypto art platform ‘Curio Cards’ reportedly launched the first NFT project in 2017.
Functions of an NFT Artist
The primary function of an NFT Artist is to create digital art, convert it into NFTs, and sell them on various marketplaces. By converting artworks into NFTs, the value, rarity, and ownership of the digital art are solidified on the blockchain.
Impact on the Art Market
NFT art and artists have significantly disrupted the traditional art market. Buyers can now directly purchase art from creators, bypassing traditional gatekeepers such as auction houses or galleries. Furthermore, blockchain technology ensures the authenticity and ownership of digital assets, which was previously a significant issue in the digital art space.
Latest Trends and Innovations
The NFT art space continues to innovate with new forms of digital art. Virtual reality art, interactive art, and even art that changes over time with AI or based on external data feeds are becoming commonplace. These are some of the trends ramping up in the NFT art space:
- Virtual Reality (VR) Art
- Interactive Art
- AI-Generated Art
| Year | Total Sales in the NFT Market |
|---|---|
| 2020 | $250 Million |
NFT Artists on MEXC
MEXC, a world-leading blockchain platform, supports the trading of a wide range of NFT tokens. Together with various artists, MEXC encourages the growth and development of the NFT space on its platform.
Conclusion
In conclusion, NFT Artists represent a new wave in the art world, harnessing the power of the blockchain to disrupt traditional markets. With each unique piece of art backed by an equally unique NFT, digital art uniqueness and ownership are now verifiable.These artists and their creations contribute to the continuously evolving landscape of blockchain and cryptocurrency.
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