This is perhaps the most nonsensical headline I have ever written. Comparing a digital artwork Vs NFT art is like comparing an egg and a chestnut, but you have to admit that it has hooks. And, dear reader, I have two goals for you by the time you finish reading this article: a) that you fully understand the concept of NFT, and why the art is just one of its myriad possible uses, and, b) that you have enjoyed reading it.
Digital art is a form of expression that began in the late ’80s of the last century, being our collaborator Carles Sapena, who experimented with fractals back in 1989, one of its pioneers. The fact that digital art is still in its infancy implies a problem suffered by all artistic styles in their initial period. There are really very few people who are able to evaluate their quality of them, which means that, most probably, most of them do not pass the test of time and are forgotten in the last corner of a hard disk disconnected and stored in the attic or as an NFT in a wallet that is no longer remembered. Later I will emphasize this link between digital art and NFT.
Although I have highlighted it in previous posts, buying art with knowledge is fundamental to ensure that your purchase or investment is really worth it, and will not become one of those forgotten works in the electronic attic of your hard drive or your digital wallet. That is why taking advice from professionals in the sector and buying on marketplaces like Next Age Gallery, where you can only buy quality works, can save you a lot of headaches in the future.
Do you know the Altamira paintings? Spectacular cave paintings about 15,000 years old were discovered in 1868 in Cantabria, Spain. I can assure you that whoever did those paintings was the Michelangelo of the Magdalenian period. Most of the works of that time were not so magnificent but, in any case, unfortunately, they have not reached our days. The same is true for most works that initiate an artistic movement, or most companies that are formed to exploit new technology. Only the really relevant ones survive.
So, as I say to those who contact me to propose a new collaboration, let’s come to the point.
An NFT (Non-Fungible Token) is a TOKEN, an asset on a blockchain whose purpose is not precisely in a monetary transaction (although it can also be).
In the words of William Mougayar, a token is “a unit of value that an organization creates to govern its business model and give more power to its users to interact with its products while facilitating the distribution and sharing of benefits among all its stakeholders”.
The token standards most commonly used so far are ERC-20 and ERC-721, the latter for creating NFTs.
Thus, an ERC-20 token can be exchanged for another one (with the same contract) without any problem. For example, an ETH is exactly the same as another ETH and they have the same value. However, an NFT token can contain anything embedded in it. Whether it is a text, a photograph, a song, a movie, or one used for a video game such as a super key to open all the doors of such a video game. It can also be to include a piece of land in a metaverse or, what leads me to write this article, an artwork.
The most interesting of all is that an NFT may contain only a percentage of ownership (or rather the right to exploit a piece), which multiplies the possible investments that can be made in artwork and democratizes access to all collectors interested in the world of art.
So, ¿Digital Artwork Vs NFT? Digital artwork is a digital file and an NFT is a container that guarantees its origin, that cannot be altered, that can be exchanged between peers without any intermediary, and with endless advantages, but it is just that, a container. Therefore, you should pay attention to the content of that container.
Now I am going to introduce you to two works from different marketplaces. One of them is an elaborate composition by a world-renowned author. Guess which one is cheaper?
Both works deserve the greatest respect. Possibly one is more focused on card collectors than art collectors. The important thing is that attention should be paid to where, why and for what purpose an artwork is purchased, NFT or not.
Judge for yourselves.
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