NFT's : THE NEW WEAPON FOR CREATIVES IN THE CORPORATE WORLD
If you are a creative this is definitely what you have been waiting for, the future is now..
If you are wondering to yourself what an NFT is, don't worry you are like majority of the world who are still yet to catch up. For now, we need you to know that this is about to become the ultimate middle finger for creatives to the corprates who have taken adavantage of them for far too long.
If you were one of those people who didn't believe in crypto curency, well we're here to tell you what the future is about to look like. An NFT is a Non Fungible Token, which is a digital file whose unique identity and ownership are verified on a blockchain(a digital ledger).NFTs are not mutually interchangeable and are commonly created by uploading files, such as digital artwork, to an auction market. This creates copies of the files, which are recorded as NFTs on the digital ledger.
The tokens can then be bought with cryptocurrency and later resold. So basically an NFT is a certificate of ownership for any digital art and IP. When you buy an orginal Andy Warhol or Nelson Makamo painting you are given a certificate of authenticity to verify that this is an original piece by the artist and that you are the owner, NFT's are the digital version of that.
Here is where it gets really interesting though, the creator of the digital art piece will recieve perpetual royalties from the sale of their work. That means when an artist sells one of their NFT's they will recieve royalties every time the artwork sells, forever. In June of the year 2020 an original painting by Basquiat titled ''Boy and Dog in a Johnnypump'' was sold for $100 million dollars (R1,5 Billion) to billionaire Ken Griffin making it one of the most expensive art pieces ever sold.
The problem is that Basquiat all though has long passed, his estate and family will never recieve royalties from any of his atworks sold, that's how the art world was set up. On the other hand in March of 2021 the NFT crypto artist Beeple managed to sell one of his pieces for a stagering $69 million and he will continue to recieve 10% everytime his artwork is sold. That is the key difference, finally the power will be in the hands of the creatives and not the big corporations. You will be able to sell your art pieces to digital art collectors and will be able to track it's ownership over time while recieving royalties every single time it sells. This is going to be how creatives keep control of the art they create.
Artists like Karabo Poppy or Seth Pimental will be able to upload their amazing illustrations as NFT's and sell their digital art and make royalties perpetually from their work.We recently discovered an African artist ''Ahmed Partey'' from Ghana who is already ahead of the pack and is currently selling his digital pieces on makers place so make sure you check out his work.This is a call out for all creatives, star reading up and researching on the NFT world and make sure you are ready for the revolution when it begins.