The realm of Non-fungible tokens (NFTs) has taken the investment world by storm, and within it, art has emerged as a frontrunner. Unlike traditional art investing, which has been limited to the wealthy elite, NFTs have democratized art ownership, allowing enthusiasts from all walks of life to partake in this exciting space. In this article, we will explore the fascinating landscape of NFT art, providing you with an insider's view of the top NFT art pieces you can invest in this year.
Understanding NFT Art
NFT-based art comes in various forms, from digital paintings and photographs to mesmerizing videos, musical compositions, and even video games. Essentially, anything you can imagine as digital art, including converted physical art, can be transformed into an NFT.
How NFT Art Works
The beauty of NFT art lies in its simplicity. Anyone can create an NFT from their creative work and offer it for sale on numerous NFT marketplaces such as AirNFTs. As an NFT collector, you gain exclusive ownership rights to the digital creation, and in some cases, even earn royalties from its future use by others online.
Much like traditional art investing, the value of NFT art is a subjective and intricate matter. It depends on factors such as the artist's reputation, the rarity and uniqueness of the artwork, demand, and the price art enthusiasts are willing to pay for it. The exciting difference, however, lies in the ability to monitor the value of NFT art in real-time, as it can be actively traded and displayed on NFT marketplaces.
6 Unmissable NFT Art Opportunities for 2023
1. CryptoPunks: Crafted by Larva Labs, CryptoPunks stands as an early triumph in the NFT art world. Consisting of 10,000 distinct pixelated portraits, this Ethereum-based collection was originally distributed for free in 2017. Now, these pixel masterpieces command staggering prices, with some selling for millions of dollars.
2. Beeple: Renowned artist Mike Winkelman, also known as Beeple, has taken the NFT art scene by storm. His piece titled "Everydays: The First 5,000 Days" auctioned for a jaw-dropping $69 million, catapulting NFT art into the mainstream. With his daily digital art tradition spanning over 13 years, Beeple's latest works continue to fetch significant sums.
3. Pak: An anonymous digital artist or team, Pak, has made waves in the NFT community. Their work "The Merge" surpassed Beeple's record, selling for $91.8 million on Nifty Gateway. Notably, proceeds from the sale of "Clock" were dedicated to supporting WikiLeaks founder Julian Assange's legal defense.
4. Bored Ape Yacht Club (BAYC): This collection features 10,000 comic book-style portraits of apes, each doubling as a digital membership card granting access to a virtual world created for these characters. Although sold out, BAYC NFTs can be acquired through NFT marketplaces, with the most valuable pieces fetching millions of dollars.
5. Axie Infinity: More than just art, Axie Infinity is a blockchain-based video game powered by Ethereum. Players engage with fantasy creatures called Axies, which can be trained, bred, and traded using Axie Shards, Ethereum-based in-game currency. Rare Axies have sold for hundreds of thousands of dollars worth of Ethereum.
6. Crypto Baristas: The brainchild of Coffee Bros., Crypto Baristas is an innovative project bridging the gap between the NFT universe and a real-life coffee roasting business in New York City. NFT sales contribute to funding an NFT-focused café, with perks for owners and charitable support for the coffee industry and other NFT projects.
The Future of NFT Art
It's crucial to acknowledge that NFT art is still in its early stages, and like any speculative investment, caution is advised. However, NFTs hold the potential to revolutionize the art world, offering creators unprecedented opportunities to monetize their work and connect with their audience.
An exciting development in this space is the emergence of an award show dedicated to recognizing outstanding NFTs. Real judges actively vote for the NFT art of the day, month, and year, making it a prestigious platform for artists to gain recognition. Entrepreneurs and creators are not only welcome but encouraged to participate as judges and partners in this initiative. Supporting the next generation of artists together through a unified effort is the platform's core mission, and they seek to foster an ecosystem that empowers and uplifts artists.