To sustain a thriving art industry, artists must find new and innovative ways to monetize their work. One way that is growing in popularity is by turning artwork into non-fungible tokens.
In this article, we will explore how to digitize art for NFT's and, specifically, how artists can do this and some of the benefits that come with it.
What are NFTs, and Why Should Artists Care About Them
NFTs, or non-fungible tokens, are a type of digital asset that is stored on a blockchain. Unlike other types of cryptocurrency, each NFT is unique and, therefore, cannot be interchangeable. This makes them perfect for representing ownership of digital assets such as art, music, or even in-game items.
One of the main reasons why NFTs are so attractive to artists is because they provide a new way to monetize their work. Unlike traditional methods such as selling prints or licensing artwork, NFTs can not only be sold (many times) but also traded or even auctioned off. This allows artists to earn a lot more money from their work potentially.
Another significant benefit of NFTs is that they offer high transparency and immutability. Because NFTs are stored on a blockchain, the entire history of an asset can be tracked. This not only makes it difficult for someone to steal or copy an NFT, but it also makes it easy to see how much an NFT has sold for in the past.
This transparency also extends to the artist. When someone buys an NFT, the artist will receive all or a percentage of the sale. This is unlike traditional art sales, where the artist may not know who bought their work or how much they actually paid.
Lastly, NFTs offer downside protection that other monetization methods do not. For example, if an artist sells a traditional print for $100 and the buyer later decides to resell it for $10,000, the artist does not earn any additional revenue. However, if the same artwork were sold as an NFT, the artist would still receive a percentage of each sale regardless of how much the NFT is resold for.
This makes NFTs a much more stable and reliable source of income for artists.
How To Digitize Art for NFTs
If you want to create digital art that can be used as an NFT, there are a few things you need to keep in mind. Firstly, the artwork needs to be stored in a digital format. This can be done by scanning or photographing your work and then cropping it to the desired size.
Secondly, the artwork must be in a file format compatible with blockchain technology. The most common file formats for NFTs are JPEG, PNG, and GIF.
Thirdly, the artwork needs to be stored on a blockchain platform, or you want to ensure you have an NFT wallet (more info below).
What Are The Best Resolutions For NFTs?
Unfortunately, there is no perfect NFT size. Every platform and use case is different. However, here are some general guidelines:
Popular NFT resolutions range from 336 px square to 631 px square. One popular NFT, Beeple, had a resolution of 21,069 px square. For most users, a resolution of 1080 px square or lower should suffice. However, if you want to print large art, you should meet the maximum file size requirements for the NFT format.
Screen resolution cannot show the difference between two graphics with different resolutions. For example, a graphic with a lower resolution is fuzzy when scaled up to the same height as a larger image.
The same goes for text printed at a lower resolution. It will look fuzzy.
If you plan to make a physical art piece into an NFT, you should choose a density setting higher than 300 PPI (pixels-per-inch).
Setting Up For Photography: Background & Lighting
There are several things to consider when setting up for photography of your art, most importantly – the lighting and background.
Lighting should be evenly distributed so that your subject and background are well-lit. To achieve even illumination, place two lights on opposite sides of the scene. An umbrella can be placed behind the subject to diffuse the light.
Avoid aiming lights directly into the center of the background, which can result in hot spots. Aiming lights on opposite sides of the subject will ensure that the scene is evenly lit and avoid hot spots.
Too much light can cause lens flare or turn the subject into a silhouette. Too much light will result in gray or off-white backgrounds. Also, consider using flags or diffusions to control light.
You can use a collapsible or fixed photographic background, depending on your needs. You can also use gels or other types of lights to alter the color of the background.
You should choose a background that will compliment your subject and look good in photographs.
How To Upload Onto NFT Platforms
To sell your physical artwork on an NFT platform, you need to have a digital file of your work. This file can be jpeg, gif, png, and more, but most NFT platforms will only accept smaller files.
The next step in uploading physical art to an NFT platform is to determine the value of your artwork.
Some pieces are more valuable than others, but the value of your artwork will depend on the buyer community. Offline collectors appreciate some physical works but not so much online.
Fortunately, technology is evolving rapidly, and new creative ideas are constantly surfacing. The NFT model now allows artists to create and sell their physical art worldwide for a recurring profit.
If you have older works of art with which you haven't done anything, you should convert them to an NFT! The results are sure to be lucrative if you have the skills and know-how to transform them.
There are many challenges associated with uploading physical art to NFT platforms. Many artists are wary of gas fees and technical aspects. Some fear making a mistake and losing the artwork and the money they earned.
Don't be!
With the advent of NFT technology, artists can now deal directly with consumers without dealing with art brokers, galleries, or stock photography agencies.
Moreover, artists no longer need to search for specific places to place their work. Instead, content creators can establish a global presence in popular NFT marketplaces.
How To Sell Your NFT Artwork Online
Option #1 – Sell Directly Yourself
If you want to sell your NFT artwork online, there are a few things you need to keep in mind. Firstly, you need to create a website or an online portfolio where people can view your work.
Secondly, you must ensure that your artwork is stored in a file format compatible with blockchain technology. (JPEG, PNG, GIF, etc.)
Lastly, you need to create an account on a blockchain platform you can use to sell your work. The two most popular technologies for NFTs are Ethereum and Waves.
Option #2 – Use an NFT Marketplace
If you want to sell your NFT artwork online but don't want to deal with the hassle of setting up a website or creating an account on a blockchain platform, you can use an NFT marketplace.
An NFT marketplace is an online platform that allows artists to sell their work directly to buyers. The two most popular NFT marketplaces are OpenSea and Rarible.
Both of these platforms allow you to list your artwork for sale, and they also handle all of the payments and transactions. This makes it very easy to sell your NFTs without worrying about technical details.
Option #3 – Use an NFT Auction House
If you want to sell your NFT artwork online but get the highest possible price for it, you can use an NFT auction house.
An NFT auction house is an online platform allowing artists to auction their work to the highest bidder. The two most popular NFT auction houses are Foundation and SuperRare.
Both of these platforms allow you to list your artwork for sale, and they also handle all of the payments and transactions. This makes it very easy to sell your NFTs without worrying about technical details.
Option #4 – Use an NFT Gallery
If you want to sell your NFT artwork online but you want to have more control over the price, you can use an NFT gallery.
An NFT gallery is an online platform that allows artists to list their work for sale at a fixed price. The two most popular NFT galleries are MakersPlace and Codex.
Both of these platforms allow you to list your artwork for sale, and they also handle all of the payments and transactions. Again, this makes it very easy to sell your NFTs without worrying about the technical details.
Don’t forget to pay your taxes from the money you make selling your artwork. You can use any reputable crypto tax software to help here. (Always work with a financial advisor, nothing in this article is financial advice.)
Tips For Promoting Your NFT Artwork
If you want to market your NFT artwork, you can do a few things.
Firstly, you can create a social media profile where people can follow your work. This is a great way to build a following and get people interested in your work.
Secondly, you can create a blog or a YouTube channel where you can showcase your work. This is a great way to show off your work and show people what you're selling.
Thirdly, you can participate in online art exhibitions and contests. This is a great way to get your work seen by a wider audience and potentially win some prize money.
Fourthly, you can collaborate with other artists. This is a great way to get your work seen by a larger audience and to create something new and unique.
Lastly, you can use online ads. This can be expensive to reach a larger audience and generate interest in your work. Remember that this is the most challenging way to sell your work as you compete against seasoned advertisers.
NFTs are the art world's future, and if you want to sell your artwork online, they are a great option. There are a few things you need to keep in mind, but once you get started, they are very easy to use.
The Future Of NFTs And Their Impact On The Art
The future of NFTs is looking bright (despite naysayers), and they will likely significantly impact the art world. We will probably see more artists using NFTs to monetize their work in the future. We are also likely to see more platforms emerge that will make it easier for people to buy and sell NFTs.
Furthermore, the increase in demand for NFTs will likely lead to a decrease in prices. This is because the supply of NFTs is limited by the amount of artwork that is available.
Lastly, the transparency and immutability of NFTs are likely to lead to more trust in the art world. This could potentially increase investment in the art world and lead to more people buying and selling art.
FAQ
What is a Blockchain?
A blockchain is a distributed database whose nodes share information with other computers in the network. Blockchain technology guarantees security with no third parties, speeding transactions, and has robust security features. This information has irreversibility that ensures that the data remains permanently stored. It also allows artists to track their NFT and guarantee a percentage of future sales.
Do I need a Crypto Wallet?
Yes. Most of the NFT market requires you to create your crypto wallet for minting or trading NFT. Typically, crypto wallets like MetaMask and Coinbase are also safe wallets. Some NFT marketplaces have introduced a feature that allows credit and debit users to pay using fiat currency by card, making NFT payments more convenient.
Can I avoid Gas Fees?
Several NFT marketplaces offer gas-free mintage. They are notably Opensea or Raribles. This puts the gas charge on the purchaser rather than the developer and is somewhat similar to VAT and fuel taxes added by some airlines. Currently, most blockchain technologies have zero gas fees or lower prices. This includes Polygon in OpenSea and ImmutableX in Mintable. When purchasing an NFT, check the price and where blockchain has been used.
Can anything be an NFT?
Yes. Almost all digital files can be saved as NFTs. Currently, the majority of marketplaces support digital artwork. Some physical products have even been digitalized as NFTs, such as limited edition physical Nike trainers. Expect that NFTs will exist within the digital and physical space.
What is Minting?
Like physical currency, mining can also describe how one creates a cryptocurrency on the blockchain. This is accomplished by producing records on an unmodified and tamperproof centralized ledger that can track NFT sales as the sale progresses. Minting typically costs gas fees (mentioned above). As we said, some marketplaces become creative concerning the fees.
Are there any Energy-Efficient Blockchains?
The NFT markets also provide alternatives that reduce their carbon footprint and save money for consumers. For example, the blockchain Solana promises to be carbon-free. Look at your NFT marketplaces and choose one that fits your conscience.
Summary
Given the increasing popularity of NFTs and their potential to revolutionize the art world, artists need to understand how they work.
In this article, we have outlined the basics of NFTs and provided tips on how artists can create and sell digital artwork that uses them. We have also discussed the future of NFTs and their impact on the art world.
About the Author
The article was written by our guest author, Nick Patrocky.
Nick is a UX/UI designer, app reviewer, software reviewer, and blogger. Nick’s worked with over 150+ clients from countries all around the globe. Nick also enjoys reviewing mobile apps, web apps, and websites. Check out his blog if you want to know what it takes to be an app designer or a successful freelancer.
