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5 Ways NFTs Shook Up the Fine Art Industry This Year

NFT stands for non-fungible tokens, which can be tied to an asset and then transferred, traded, or sold. NFT has found its way to games, music, film, and art. However, art is where it has shaken up the industry. If you want to know how NFT can help you sell your artwork or become an artist, you can enroll in one of the best online art classes to find out.

Marketing Art Pieces at Incredibly High Price

NFT has changed how the art industry works. It’s no surprise that in 2021, the online art market in the US peaked at around $5.65 billion according to Statista. It may surprise you that new entrants made ridiculous money selling their digital artwork through NFTs. For example, consider Trevor Jones, a less-known painter from the UK, who made a whopping $4 million selling his art through NFTs, or Jazmine Boykins, who at 20 had sold $60,000 of NFT art in only half a year.

More Power to the Artists

NFT has given more power to artists to control their work. Imagine this; you make a painting and sell it at a local art dealer, but you still have digital ownership of the artwork. Awesome, right? Traditionally, if you’re an artist, you had to sell physical copies, appear at exhibitions and teach to earn a commission. However, with NFT, you can have a say on what happens to your art. We have one of the best online art classes to help you become an NFT legend.

No Middlemen!

Another interesting way NFT changes the art industry is by making intermediaries irrelevant. Through NFT, you can reach your buyers directly without posting your work in a gallery or having an art broker. Instead, you can contact your buyer directly and skip commission fees as an artist.

Anyone Can Be an Artist, No?

You probably wouldn’t have thought of Paris Hilton as an artist. Yet, in April 2021, she sold a self-portrait for a whopping $1 million. It was a CGI Barbie. Consider Jack Dorsey, who sold his first tweet for $2.9 million. With NFT, anyone can become an artist, and anything can become an art.

Redefining Intellectual Property

On the downside, NFT only confirms ownership of a piece of art and does not grant intellectual ownership or copyrights. Therefore, unlike traditional art, you may not have any legal protection for your art. So, would you like to become an NFT art legend? Reach out to us to join the best online art classes and learn more.