NFTs and the Bright Future of Selling Digital Products

I read this on Cointelegraph today and thought it might be good to share it with you guys. What do you think about this? In my opinion a bright future is indeed ahead for digital artists and stores selling digital addons. I’d love to hear your opinions!

5 Likes

Hi @Digi_Life I have read several articles on the subject… The most informative i can share is this What is Crypto Art and Why Should Motion Designers Care… Anyway, my first though is… well… too cumbersome… I will fold on this…

I have been interested (so i followed this course Create Abstract NFT Crypto Art with Cinema 4D + Photoshop… but just the way involved in simply uploading your product to those kind of website will make you want to go away…

C.

1 Like

Been following this a little. Very interested to see where it goes. Commenting to follow this post.

1 Like

It’s a very controversial subject and definitely worth it to first educate yourself thoroughly. A lot of canceled artist already because of this. Crypto has an environmental impact and the way it’s built up is compared to a pyramid scheme. Read up as much as you can. good and bad. Then form your opinion.

edit: I’m not against artists going the NFT route by the way. I just want to make sure you know what’s happening in the artist community. Not all of it is pretty.

4 Likes

from what i understand, NFTs were a way for digital artists to give value to the original digital artwork and it gain value based on the art and the artists popularity. It seems now that 99% of NFT art sales have nothing to do with enjoying art or helping artists but a get rich quick scheme for investors. It’s also another way for rich or famous people to get richer, ( see twitter founder selling a screenshot of a tweet for $500,000 ). The whole concept is super interesting but just like traditional art, the ones who profit most out of this won’t value the art for arts sake. Just another investment opportunity to make $$$$$$.

4 Likes

I keep wanting to get a good read on this topic and I cannot for the life of me understand it. These marketplaces (like Nifty) are literally like CM for art, right? With limited editions? Orrrr is there something more?

2 Likes

@Manon.Lef @NewTropical Absolutely agree with you both. There’s more to NFT’s that really needs to be looked at. Initially I thought ‘this is great, finally a way for artists to get some decent financial backing and providing ownership in the digital space’; but the more I read about them, the more disgusted I get. From what I’ve been reading its basically a way for the rich to get richer, with no real protection or benefit to the creative community. Its like a ‘get rich quick scheme’ with atrocious and disturbing environmental impact. It feels like nothing more than blind greed and avarice to me.

3 Likes

@angelainthefields It’s not really even likited editions. Buyers don’t buy the ‘artwork’ itself…more like buying a digital certificate of ownership over a particular piece. Madness.

2 Likes

…so basically a rich people playground :joy:

3 Likes

I would see it a bit like a revolution.
Looking at another similar process we went through: How do musicians earn money? In the past it was through live shows and record sales. Since no one buys records anymore (of course there are some people left who still do, but we’ll leave it aside) artists earn money through streams.
So the “change” came a bit in a flow and no one really recognised it.
Now we have a similar mindset change in the art space. It’s important to offer digital artists a way to earn money at the end of the day and NFT is a beginning but probably not the final end result.

For this who can’t deal with the concept: NFTs and the whole thought behind it is similar to music when it comes to the base. Why do you pay musicians for their music if you can’t touch the music itself? So why would you pay artists to give you visual experiences, although you can not touch it?

4 Likes

@ana.yvy I get the theory of what you’re saying Ana but people like to buy art to hold it, to hang it on their wall …to appreciate it at their leisure and have the knowledge that they ‘posses’ it. NFTs are like, to use your music analogy, paying an artist or musician for a track…and recieving a piece of paper with the name of the track and the time signature written on it… you don’t get to actually enjoy the thing you exchanged money for. Not to mention the shocking environmental impact of NFTs and crypto in general.

‘Why do you pay musicians for their music if you can’t touch the music itself?’ I do. I buy vinyl so I can hold it, admire the artwork and read the lyrics while I listen to it …I know the majority using a streaming service …but there’s the key they aren’t paying one artists directly, they’re paying for a service that allows them to listen to multiple bands or artists wherever they are.

But see that’s all talking about digital products over physical products and it’s all personal preference. Much like some people preferring Spotify, some prefer the radio…and others prefer tapes, vinyl or cds. There are markets for both, but until NFTs start becoming more environmentally conscious and less of a greedy fuelled, rich w*nkfest, I’m staying well away.

Definitely agree with you. While NFT has its flaws, I believe that’s for any new technology. Even the internet itself has its own flaws, but there are already NFT’s that is trying to be as eco-friendly as possible, just to name one Tezos.

I am looking forward to see how this whole new technology, continues to evolve since it’s here to stay, and now provided digital works a place to have value.

1 Like