Crypto Art NFT Explained
Head to our shop for the latest NFTs at Opensea!
Crypto Art is another term for NFTs, the latest buzzword in town. This short article explains the basics of crypto art and non fungible tokens as art, as well as what BillingtonPix is doing in this exciting area.
What are NFTs and how does Crypto art work?
An NFT is a Non-Fungible Token. And what does non fungible token mean? Well, Non-fungible is a signature that proves who the owner is of an image, that is unique to that image and cannot be replaced with another image. That is different to the copyright holder, but the owner who holds the signature can lay claim to owning the original image and is able to sell it, by transferring the NFT to another person in a crypto art marketplace (such as OpenSea) for a different price.
What can you sell as NFTs?
As well as NFT digital art you can pretty much sell anything else digital, as well as some physical items. William Shatner sells trading cards, Logan Paul sells clips of his YouTube videos. You can even buy and sell tweets. This article is focused on the purchase of digital art, which some see as the future of the art world.
Are NFT artworks unique?
Not always. Whilst you can buy a one-off piece of art, that is only available as a single asset (and therefore priced accordingly) you can also buy one of a series of the same art piece, a bit like buying one of 20 limited edition prints, each signed uniquely by the artist.
What has Crypto got to do with NFTs?
Nothing more than the fact that Blockchain is used in order to create the crypto signature for each piece of crypto artwork. At Opensea Ethereum is used and digital art is trading with Ether currency.
What is Opensea?
Opensea is one of the biggest crypto art marketplaces, although you can buy and sell many different types of digital files there. If you have some crypto art for sale, or if you want to buy some crypto art, Opensea is one of the first places to look, although there are others. BillingtonPix has decided to sell our crypto art using OpenSea, which you can find here, so if you are looking for the best crypto for 2021 then we suggest you head there!
Buying an NFT does not prevent illegal downloads
It is true that non fungible tokens and copyright are not the same thing. It is important to state that the owner of the NFT is not the copyright owner or the owner of reproductive rights, but they are the owner of the original digital artwork, much like the Louvre is the owner of the Mona Lisa, yet there are many many copies for sale in the street outside and on the internet. There is value in being the owner of the original work, and this is what is traded in the NFT marketplaces.
NFTs mean different things to different people
Whether you are an artist, a buyer or a collector, NFTs can mean something different to each. For a crypto artist, it provides you with a way to sell your art for a decent income, whether as a one-off fee or a license arrangement whereby you receive a percentage of all future sales. For a buyer of crypto art, there is a certain cachet of owning the original art piece that is also supporting the actual creator. You probably also get the right to download a copy of your crypto art for personal use, such as an interior design enhancement with printable art, a phone wallpaper, or even to display digitally. BillingtonPix provides these freebies as part of the deal for purchasing any of our own NFTs. For a collector of crypto artwork, as well as the aesthetic value of owning these digital art pieces, buying an NFT could be speculative. The non fungible token market has the potential to grow significantly over the next few years, and already we are seeing some headline sales in millions of dollars. Of course, the price can also go down, so you should always seek advice when looking to purchase non fungible tokens for sale.
Where can I find BillingtonPix NFTs
We are building out our library of NFTs, which you can always find on our BillingtonPix OpenSea profile. We are currently only selling one-off NFTs rather than multiple versions of the same image. You can still find non-NFT art for download in our Printable Art and Phone Wallpaper collections.