NFTs can be a complex topic deterring many from wanting to know about this art or even being a part of it, but that doesn’t mean they’re not worth exploring. NFTs are a very interesting and modern form of art that attracts lots of attention nowadays. With the hype surrounding NFT art, some assume that it’s a fad, but many predict that this evolving modern tech art will stay, so much so that people want to display it in their homes and travel to museums to view the galleries of this digital art.
Europe has created its first exhibition space dedicated to the NFT phenomenon. “Moco Museum brings together a selection of NFTs from the art world’s most pioneering digital artists. These rare and unique works express the future of digital art.” - Moco Museum On Derek's recent visit to Europe, he visited Amsterdam, where he was able to view this Museum and gallery, sharing this picture below.
Art is constantly changing and evolving; this looks to be the new future of art. This doesn’t mean that paint on canvas is over, but that digital artists are blowing up. This is pretty exciting, so let’s look at what NFT art is and how this digital art is displayed in art galleries and homes!
First off, What does an NFT stand for?
An NFT is a digital asset. The term stands for “non-fungible token.” Like cryptocurrency, NFTs trade via blockchain technology and represent real-world commodities, such as art, real estate, avatars, memes, video game skins, and GIFs.
What is NFT art?
Think of traditional artworks such as paintings. These are valuable because they are one of a kind, painted by hand with a unique technique and skill often done with paint. Now think of a digital file which can be endlessly copied and pasted as much as the owner wants. However, digital artworks and assets are bought and sold with a digital certificate showing ownership of a unique virtual or physical asset that someone has created. These digital Items can only have one owner at a time. You may have heard of blockchain technology. Blockchain is an incorruptible database that cannot be tampered with; NFTs are secured and protected by Blockchain.
Imagine that a home holds the original Starry Night by Vincent Van Gogh, a one-of-a-kind item – that cannot be reproduced, and its value cannot be interchanged. While people can take photos of artwork or buy a print of it, it will never be the same as the original painting. In the simplest of terms, an NFT makes digital items, works of art, or other collectibles into a “one-of-a-kind” asset that can be bought and sold by their makers and buyers like any other property.
If you want to know more about an NFT and how it works, check out TheArtist. They have a detailed explanation of NFTs, the technology behind the artwork, how artists price NFTs and some commonly used terms to understand everything.
Where does NFT art get displayed?
While NFT artwork can be displayed online in the metaverse (a virtual world), they are also displayed in person, where we can view them daily on our devices or go to physical exhibitions. They can also be displayed on frames in our homes.