Well, the answer is we’re not too sure! April saw NFT prices shudder to a slump of 70%, yet with so much potential it seems unlikely that NFT art will run out of steam anytime soon.
I personally don’t think this is a fad, I believe we have been heading into a majority digital age for the last decade and this is just the next thing to become comfortable with. As a graphic designer myself, most of my work is made and prepared for some sort of print, however all my work is created digitally, so it feels a bit of a wasted opportunity to not create an NFT. I think this will be the same for many designers. The NFT world has too much potential to not see itself through.
How to actually create an NFT
The first thing designers need to do on their way to setting up an NFT to sell is create a “Crypto Wallet”. This is going to store the Ethereum, which you will need to pay the minting fees. Then you will need to connect your Crypto Wallet to one of the NFT marketplaces.
NFT marketplaces allow designers and artists to upload their digital artwork and list it for sale online as an NFT. You can imagine them to be like Ebay or Etsy—except they’re purely for NFTs! The most popular ones include: Rarible, OpenSea, Mintable, KnownOrigin and SuperRare.
One thing to keep in mind when uploading your artworks onto these is how many you’re going to provide. You can choose to put it on as 1 of 1, meaning there will only be one artwork to exist and be sold, or you could decide to upload a collection of the artwork with multiple copies. This is quite a huge decision to make because—like traditional art forms—the number of original editions and how rare a piece is will directly impact its value.
NFT art: to sum up
The selling of crypto or NFT art holds the potential to transform the entire creative industry; its emergence is only the beginning of something that’ll feel mundane to future generations. Yet, the early world of NFT art fails to stand up as a reliable, inclusive environment to sell digital art upon. Our eyes are peeled to see what happens next—and we hope the tide turns in favor of designers.