As technology advances, new markets are evolving and it has gotten to the world of artists as well. Anyone can sell their work in the form of an NFT (more information about NFTs), providing new opportunities to artists. Adapting to the latest trends, I would also like to try myself out on this market. My first NFT collection is available for purchase at the Opensea marketplace.

 

NFTs could be most simply described as a “smart contract” embodying ownership of a digital and/or physical artwork. 

There are a few important things to mention that justify the existence and benefits of NFTs for artworks:

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1. Immutable - in whatever form the creator makes an NFT, it cannot be modified later (except for so-called “smart NFT”, but this topic is not covered now).

2. Unique - when an NFT is created, it becomes clearly identifiable and can be distinguished without any doubt. It is very common that the artist creates several NFTs from the same piece of art. In this case, there is no difference in appearance, however, two completely identical NFTs can be totally distinguished due to the smart contract created on the blockchain. Thus, each NFT also certifies the originality of the artwork.

3. Transparent - the path of each NFT can be traced, who bought it, when, for how much and this is also true for resale transactions.

 

Sadly, counterfeits and fraudsters have already appeared on this market, therefore, it is extremely important that you buy NFTs from reliable sources only. Because of its transparency, you can always see who was the creator of that particular NFT that proves if the NFT is genuine.