What Is Crypto Art And How Does It Work?

Yes, crypto art can be authenticated and is usually genuine. Just as paintings are signed and authenticated, crypto art can be verified. 

• The verification is completed using a non-fungible token, commonly referred to as an NFT.

Crypto art or “NFT-based artworks” have been selling for thousands or even millions of dollars through reputable auction houses such as Christie’s over the past year.

• The NFTs used to buy crypto art are built on blockchain technology. 
• Blockchain technology is also used for cryptocurrencies like Bitcoin, Etherium, and yes, even DOGE coins. The blockchain offers a secure, digital record of transactions.
• The blockchain acts like a “digital ledger” and serves as incorruptible proof of ownership. Using this system, artworks and their ownership can always be tracked via the blockchain. When you add NFTs to the equation, you are also adding an incorruptible proof of authenticity to this “Digital Ledger.”

Many of the most famous crypto artists have been well known in the digital art space for some time but others are younger, newer artists finding their audience in a digital-first world.

The beauty of crypto art is its democratization of the art scene. Technology has allowed a wider variety of artists and digital creators to get their work out to the world and find new fans and buyers.

One of the biggest names in the digital art market is Mike Winkelmann, aka Beeple. Hhis piece “Everyday: The First 5000 days” sold for $69.3 million in March 2021.

You can certainly copy a digital file, including art sold with an NFT. In some cases, the owner can buy the rights to reproduction.

An NFT grants you ownership of the work, but it can be copied with permission or illegally. This is not actually that different from the reproductions we see all the time of traditional artwork. Just as the Mona Lisa has been reproduced countless times in print and digital, so too can crypto art. But only one person can own the original of any artwork.

The Ethereum blockchain is one of the most popular networks for digital artists to join and sell their artwork on. It is currently the most extensive network for crypto art. 

Some marketplaces like Raible and Mintable offer a complete range of digital art. Others like Ephemera cater mainly to photographers. 

Crypto art marketplaces require a portfolio review to gain entry. Make sure you are working with the most reputable and focused marketplace for each artistic medium.

• ArtOlin
• Cryto.com NFT
• Ethereum
• EOSIO
• Flow
• Hive
• Near
• Phantasm
• Tezos
• Waves
• Zilliqa
• VeChain Thor

Do some research before making a big purchase or investment.

Just as they say about classical artwork, you may not know much about crypto art, but you know what you like. 

There are many different genres of crypto art available, so if you go looking, you’re likely to find something that suits your taste. If you like the work of a digital crypto artist, then crypto art could be a good investment.