How to Get in on the ART NFT Movement Safely and Securely
Anyone who has been monitoring the NFT market can attest to its rapid growth. This sector went from a select group of artists and markets to dozens of platforms and thousands of content creators in a few short years. Today, NFTs are recognized as one of the fastest-growing sectors in the blockchain industry.
The growth in demand for these unique pieces benefited the market in multiple ways. For one, it directly translated into higher values for tokens. The average cost for an early Cryptokitties NFT is in the thousands. Notably, Cryptokitties is the game that helped spark the NFT revolution.
However, finding the right artist and market isn’t that simple anymore. It can seem like a daunting task for new investors who are new to the blockchain community. Today, there are endless options and a lot of cool art with little way for new investors to evaluate true value. Luckily, you won't need to spend the rest of the month researching to join in on the fun. Here's how you can get in on the art NFT market and improve your ROI odds.
Market Reach
The NFT Market has scaled up considerably to match its growing user base. According to Statista reports, there were approximately 89,000 NFT sales over the last 30-days. Of these, around 27,000 were artworks. This data suggest that ART NFTs represent one of the driving factors behind the NFT movement.
Rising Value
The cost of early NFTs continues to skyrocket. NFT artworks have sold for millions of dollars. The most expensive NFT art piece was a work done by Beeple. This collectible features the former president laying in the grass with graffiti covering his body and a rainbow ending in his backside. Notably, it sold for over $60 million via auction.
Today, Beeple is the best-known artist in the market. His pieces regularly fetch enormous amounts. Those who had the insight and wisdom to invest in these early works are now sitting on NFT gold. Consequently, some platforms have gone to great lengths to find the next artists to see stardom.
Streamlined Onboarding
The combination of rising value and popularity did help grow the market but there is another factor that shouldn’t be overlooked - the user experience. NFT platforms have come a long way from their predecessors. Today, there are projects such as ART HAUS that integrate AI-assisted curation to assist new NFT collectors in making better-informed decisions.
ART HAUS takes a lot of the guesswork out of the NFT selection process by screening artists and segmenting their galleries. This strategy ensures that top-notch and up-and-coming talent gets in front of serious collectors. By introducing exclusive galleries to the market concept, ART HAUS can provide newcomers with top-quality decisions across the board. This strategy improves new collector onboarding significantly.
New Age Galleries Set to Expand the Market
The membership gallery concept is just one of many new ideas fueling the expansion of the market. Another cool concept that helps the market is the artist residency. ART HAUS enables artists to apply for their artists-in-residence program. The perks for artists include top-notch exposure, freedom to explore NFT as a medium, and much more.
A Deeper Dive
Imagine being able to host a live podcast or virtual concert where you make your NFT live before your fan’s eyes. You could even host an auction during the creation process. The entire event you could explain why you are creating the piece and what motivated you to develop it using the chosen styles. All of this insight enables artists to connect with collectors on a deeper level.
Connecting with fans is a crucial element of the art NFT sector because these tokens derive value differently than traditional cryptocurrencies. Cryptocurrencies such as Bitcoin gain in value as their market cap increases. NFTs are often scarce and in many instances, unique. As such, their value comes from the overall connection with the collector.
NFTs can also derive value based on their scarcity. Small collections or on-of-a-kind pieces are the highest valued in the market. Incorporating memorabilia such as popular sports teams or brands is another way that NFTs obtain value. Uniquely, the past ownership of a particular token can also play a role in its total value. For example, an artist rendering of basketball legend Lebron James dunking holds value across multiple layers.
For one, the artwork holds value. Additionally, the value of the work could increase as James’ career continues. Even if the team he is drawn in wins a championship, it has the potential to drive values up. Now imagine if the art was owned by James previously, This would push the memorabilia up in value as well. Opposed to fungible tokens, the market cap plays a non-essential role.
Artist Centric Approach
The first NFT marketplaces focused on providing a meeting place for collectors and creators. Today's markets have added a lot of features and services to improve efficiency and security. ART HAUS incorporates a unique Token-gating app that applies NFT permissioned links to works.
These links make it easy to give the NFTs endless possibilities for utility. The system works as part of a larger protocol that provides artists with more freedom around how their NFT is sold and resold. This feature demonstrates why so many digital artists are making the switch to the second-generation NFT marketplaces.
Earn Rewards
One of the coolest opportunities to hit the market is curatorship options. Regular users can secure rewards by curating art for collectives like ART HAUS. This strategy enables you to reduce the overall costs of your NFT collection by doing your part to help expand NFT adoption.
A Wider Audience
Today, the art world stands at a crossroads. The growing popularity of NFTs provides artists with more control and leverage in the market. Additionally, the rising number of counterfeits and unauthorized replications of digital art is on the rise. As such, platforms such as ART HAUS provide a much-needed service to this budding industry. You can expect the demand for these services to only increase in the future.
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