"In a context where creation tools and technological advances grow exponentially, especially in digital art, this blog aims to shed light on the role of NFTs in authenticating, protecting, and valuing works. It addresses collectors and professional artists, as well as those eager to navigate this constantly evolving universe."
For several years, I have dedicated myself to creating digital artwork for the art market, with a particular interest in the protection and uniqueness of each work. Not so long ago, protection against the falsification of a digital artwork was a major challenge.
This concern for the uniqueness of a digital work is crucial for artists and, in particular, for art collectors. With the arrival of blockchain, the art market has evolved, notably with the introduction of NFTs.
Blockchain, a decentralized digital ledger, records all transactions related to an NFT, including its creator, purchase, sale, and any other transfer. This ensures complete traceability and transparency of the ownership history.
Through this blog, I hope to clarify the role and perception of NFTs in the world of professional art, emphasizing their key role in authenticating and protecting digital artworks and their uniqueness made possible through this technology.
My goal here is to provide relevant and useful information to help bring some clarity to the troubled world of NFTs, especially for traditional art collectors and artists who wish to better understand it.
But what does NFT really mean?
The acronym NFT for "Non-Fungible Token" is a type of unique digital asset. It uses blockchain technology to certify the authenticity and ownership of a digital object, such as an artwork, music, a digital collectible, exclusive tickets for an event, and many other particular applications in the universe of games. Each NFT is distinct and cannot be exchanged on a one-to-one basis with another. It is this characteristic that gives it its value of rarity.
The hype around NFTs, since their popularization, has generated various practices, some of which are questionable, thus creating some confusion. It is crucial to remember that, although not everything presented as an NFT is necessarily art, art as such remains unchanged. Indeed, many NFT platforms (marketplaces) are not selective, allowing anyone to mint their images as NFTs, which can disorient professionals, discredit this world, and create confusion regarding more serious art.
Distinguishing true professional art in the world of NFTs is a challenge, and my intention here is to provide some guidance and information to aid in this discernment.
It is essential to keep in mind that NFTs primarily serve to authenticate digital content, thus creating a form of rarity. They are not just simple JPEG images. The real challenge, therefore, is to discern authentic artworks in this multitude of offerings.
NFTs primarily offer security and transparency to collectors. They are not just digital assets; they are also vectors of artistic creativity and represent a new way of collecting art. Just like a physical artwork, a digital work certified by an NFT can increase in value. It meets the standards of the art market, where the artist's experience and reputation play a major role in establishing its value. (See the article about the artist Beeple)
Thanks to NFTs and marketplaces, artists can easily break free from traditional galleries. However, just like gallery sales, they must pay a percentage to the platform when selling a work, although these fees are generally lower. Moreover, when a digital work (NFT) is resold by another buyer, the artist receives a certain percentage of this transaction. This royalty offers an interesting perspective for artists and buyers of the work.
Regarding transactions on the blockchain, it is important to note that there are fees for each action, notably for "minting" an NFT. Minting an NFT means registering (a creation) on a blockchain to certify it as unique and non-fungible.
The fees, called "gas fees" mentioned above, are payments made to execute transactions or execute contracts on a blockchain, reflecting the cost of computation.
Gas fees are paid in cryptocurrency (such as Ether for Ethereum) directly from one's digital wallet during a transaction or an action on the blockchain.
It is not enough for artists to convert their works into NFTs and mint them to gain notoriety, become known, and sell their creations; they must also promote them through the right channels, especially on social media, which involves a significant investment in time and resources. But this topic will be the subject of a future blog.
All this may seem technical, but it quickly becomes manageable with time and commitment.
So far, I've covered some general useful information for artists looking to get started or for buyers interested in acquiring works. That said, I recommend doing your own research on the topic, both to understand the mechanics of NFT transactions and to validate opportunities. Here, an AI tool like ChatGPT can be a good ally, even your best friend. In the following sections, I will delve into more detail on some characteristics to guide your research.
The increasing popularity of NFTs and their credibility
NFTs have gained popularity in the digital art domain by offering artists a new way to monetize their works, thanks to the specification of purchase ownership and certification through "smart contracts" associated with NFTs.
This innovation has sparked significant interest in NFTs, especially with the emergence of collections such as CryptoPunks and Bored Ape Yacht Club (BAYC), thus contributing to the democratization of the term, although these collections do not represent all the possibilities offered by NFTs.
The rising popularity of NFTs (Non-Fungible Tokens) has piqued the interest of a wide audience, leading to the emergence of various digital collections, notably the aforementioned image series such as BAYC (featuring monkey heads) or in the style of Cryptopunk, which have become benchmarks of success and have influenced numerous collections centered around busts of various kinds. This enthusiasm has at times resulted in some confusion regarding the nature and original purpose of NFTs.
However, this frenzy has sometimes led to some confusion about the nature and original purpose of NFTs and the emergence of other high-potential creations.
Yet, a historic turning point in digital art and NFTs was marked in March 2021 with the sale of the digital work "Everydays: The First 5000 Days" by the artist Beeple at Christie's for 69 million dollars. This sale sparked great interest, attracting many people to take an interest in NFTs. It's important to note that the artist Beeple didn't appear overnight but was an experienced and consistent artist who arrived at the right moment with this work.
How to evaluate quality in Digital Art and the world of NFTs
For art buyers and collectors, it is essential to discern the quality of artworks, especially in the digital realm. This includes evaluating the artist's reputation, artistic approach, vision, authenticity, and social or environmental commitment.
With the advent of Artificial Intelligence (AI) accessible to everyone and capable of generating images claiming to be works of art, discernment is crucial. Despite sometimes astonishing aesthetics, AI-generated creations also require a level of discernment to be validated, not only based on the visual result but also on a deeper approach.
This discernment, therefore, demands a certain vigilance and an understanding of art culture. A thorough research about the creation, its description, the artist's vision, etc., is necessary. This requires time, which is why I share a few pointers to start your analysis.
To do this, it is first important to distinguish and choose the right NFT platforms (Marketplaces) and recognize those that have a certain filter at the entry for creators, which adds to credibility beyond ephemeral trends. Some more serious platforms perform a curation work.
Here are some crucial key points for evaluating the quality of digital artworks and the artist:
1. Artist's Reputation and Career: Look for artists with a documented professional history and notable exhibitions. Check if they have a substantial website, as it remains an indispensable tool for professional artists, especially in the digital field.
2. Artistic Approach: Familiarize yourself with the artist's approach, often more detailed on their website. See if it seems in harmony and credible, which will allow you to better understand their vision, universe, and what motivates their creations.
3. Philosophy of Creation and Commitment: Evaluate how the artist's creations reflect their values and carry meaning. Consider how they move you and transport you, and imagine how they could fit into your environment.
4. Artist's Career: Examine how the artist has stood out over time, their exhibitions, recognitions, and awards they have received.
5. Impact and Contribution: Assess the artist's commitment to social or environmental causes, as well as their vision in terms of cultural, social, or ecological impact.
6. Discernment of Web Platforms (Marketplaces): Choose platforms known for their rigorous selection of artists and works.
In conclusion, the artist's presence on social media can give you some clues, but it is important not to confuse social media popularity with artistic quality and credibility. Often, the artist's website is more revealing of their professionalism.
To allow you to explore and discover the creations of professional artists, here are some NFT platforms (Marketplaces):
[ Foundation ] (https://foundation.app/)
[ SuperRare ] (https://superrare.com/)
[ KnownOrigin ] (https://knownorigin.io/)
A reminder of the multiple potentialities of NFTs.
NFT is not limited to animated works or generative art; it can also serve to certify a digital or analog photo, a painter's canvas, or a drawing that has been digitized. It can even be a collection of video sequences of significant sports moments, reminiscent of collectible cards and the effect of rarity. In short, the NFT allows for authenticating a digital document, making it unique, regardless of its source.
Therefore, it is important to explore the range of various possibilities of NFTs to broaden your perception and understand the potential of these non-fungible tokens in the world of digital art and beyond.
To familiarize yourself with the many expressions around digital art (digital art in English) related to blockchain referring to NFT, here is a series of expressions that are found, but even if they have different aspects and characteristics:
Pixel art
Crypto-art
NFT art
Generative art
Tokenized art
Blockchain art
Decentralized Digital Art
Cryptographic Art
Digital Collectibles
Limited Digital Editions
NFT art
Pixel art
Crypto-art
The common point between all these expressions is that they refer to various aspects of digital art based on blockchain technology, specifically through the use of non-fungible tokens (NFTs). These terms highlight different facets of NFT art, such as the method of creation (for example, generative art), the format (for example, pixel art), the mechanism of ownership and authentication (for example, tokenized art, blockchain art), as well as the concepts of collection and limited edition. Together, they describe the diverse and expanding ecosystem of secure and exchangeable digital art on the blockchain.
The Importance of Sustainability in Digital Art and NFT transactions
In a world where digital evolution and innovation are constant, it is essential to consider energy consumption. As an artist committed to raising awareness of environmental impact, I waited for the evolution of the Ethereum network to adopt NFT technology in certifying my creations.
With the transition from Proof of Work to Proof of Stake on the Ethereum network, the energy consumption of the Ethereum blockchain has been reduced by more than 99%. This transition has aligned blockchain technology with my environmental values, opening new perspectives for eco-responsible artists and collectors like me.
And Web 3 in all this
You may have already heard of Web 3. It is precisely thanks to it that NFTs are made possible. Without going too deep, here is a short definition from our friend ChatGPT on this subject:
Web 3.0, or Web 3, represents the new generation of the Internet, focusing on decentralization, interoperability, and user empowerment. By relying on technologies such as blockchain, cryptocurrencies, and smart contracts, it aims to offer increased control over personal data, reduce dependence on centralized intermediaries, and improve security and transparency. Web 3 promotes the creation of decentralized applications (dApps) for various uses, ranging from decentralized finance (DeFi) and NFT markets to decentralized social networks and video games.
These innovations encourage a more personalized, secure Internet experience and a fair digital economy, marking a significant shift from previous versions of the web.
"Fine Art Moving Pictures": A personal approach to digital art
To precisely define the character of my digital art creations and distinguish them in this teeming universe, I identified an expression that reflects their specificities. The term "Fine Art Moving Pictures" proved to be accurate and relevant. Indeed, I design my creations as perpetually looping animated photographic images. They present themselves as living paintings, merging photography and cinemagraph*, inviting contemplation and unveiling often dreamlike scenes.
I have created an NFT collection that illustrates this approach to "Fine Art Moving Pictures." This collection, named Panta <> Rhei, depicts dreamlike and contemplative moments in a constantly evolving universe, offering a poetic reflection on the interconnection between nature and our human essence.
This collection invites you on a journey at the infinite rhythm of nature, inspiring contemplation and serenity. Scenes from nature or urbanity connect us to our environment.
You can discover this Panta <> Rhei collection on the NFT platform Foundation. New works are regularly added to this collection. Other collections will also be available in the future."
* In a future blog post, I will discuss cinemagraph and my approach to this technique.
A physical NFT -
Purchasing a digital work is somewhat equivalent to acquiring a computer file and the associated ownership rights.
Thus, to enrich my offer of selling my digital works with the purchase of an NFT, I propose an included mini-display screen. My digital creations are designed to be displayed on a large screen, similar to an art painting, to beautify the space with an animated "Living Canvas."
Therefore, with the purchase of the NFT of the work, the buyer receives a box including the USB key containing the work and the mini-display accompanied by a series of relevant documents.
The digital work is delivered on the USB key to be displayed on large screens, such as 4K screens (and future 8K screens). The screen then becomes the exclusive support dedicated to displaying the work.
Screens like Samsung's The Frame Art Mode are ideal for broadcasting "Fine Art Moving Pictures" works. (The Frame Art Mode screen sizes range from 43 to 85 inches.)
Thus, the buyer of an NFT of one of my creations can affirm their ownership of the unique work displayed on their large-format screen. The NFT purchase transaction serves as a certificate of authenticity.
The mini-display, the size of a book, not only continuously broadcasts the work but also allows direct access (via a QR code) to the NFT ownership certification on the Ethereum network.
Furthermore, in line with my commitment to preserving our environmental resources, I donate a percentage of the sales of an NFT to the Saint-Laurent Action Foundation (FASL) for the conservation of the river and its ecosystems. Thus, 4% of sales are donated to the FASL.
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In conclusion, I hope this blog post has been useful to you and has provided insights to better understand the principle of NFTs as certificates of authenticity when acquiring digital works.
The statements in this blog are based on my own experience, research, and personal vision of digital creation and the evolving universe of NFTs.
You can discover some of my digital works on the NFT platform www.foundation.app. New works and collections are added regularly...
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