If you haven’t yet heard of NFT’s or NFT art, I suggest taking a look at your wifi connection. In the last 4-5 months, NFT talk has literally broken the internet. From platforms like TikTok and Twitter to CNN News, the trending topic has left millions wondering, what is it and how can it work for me?
Its recent rise in popularity has promised to revolutionize the creative industry. As a graphic designer and artist, I’m here to ask, “What’s in it for me?” Let’s begin with a definition.
If this 100 dollar bill is signed by Banksy, it becomes a totally unique product. Its value is then much harder to determine, as it’s no longer simply worth five 20 dollar bills. This means a NonFungible Token cannot be swapped for any equivalent value. It also means that, like any investment, its value can increase or decrease in the future depending on the circumstances.
What we’re particularly interested in is: how will this new, digital means of selling art affect creators and the creative industry? Find out in our next blog article!