Il Mio Salotto series NFTs: NFTs and the Arts

NFTs and the Arts.

Owning and enjoying art can be simultaneous or separable actions.

Paintings, sculptures, books, records etc can be appreciated for their artistic value - enjoyment - but also owned in the true sense of the word. The possession of artwork gives, particularly to the appreciator, the "feeling" of having "in his hands" a unique and rare item. For this aspect, in particular, the World of NFTs, blockchain, and Art seem to belong together.

What are NFTs?

Non- Fungible Tokens, or NFTs, are certificates of digital authenticity, and uniqueness.

What the art enthusiast very often craves from an artwork. Characteristics that can be obtained

through blockchain, which is a digital ledger of data that cannot be changed.

A technology that certifies the uniqueness and ownership of a work online, but not only that.

The NFTs market

The NFTs market is constantly on the rise. ($10.7 billion in the third quarter 2021).

For years, exhibitions have been an essential source for selling paintings or sculptures to end-users. The new frontier of digital transformation has shaken up the industry, inevitably. Why is quickly said, NFTs or non-fungible tokens have enabled collectors to own art. Own it in the strictest sense of the word. NFTs function as a non-interchangeable unit of data stored on the blockchain. NFTs have become a clear expansion of the industry, offering an addition to traditional art because of its unique characteristic of transparency and ownership.

What is unrepeatable increases its value. A unique object is more desirable. This consequently increases its value. In essence, this is one of the aspects that has made NFTs a phenomenon.

NFTs cannot be exchanged with each other, as no two NFTs are the same, considering that each one stores different information. This aspect makes them perfect for recording a unique digital piece. A kind of cryptographic certificate of authenticity, which no one can forge, just as cryptocurrencies cannot be forged.

Why is it called crypto-art?

The primary function of a Blockchain is to certify transactions. In fact, its primary use is related to the exchange of cryptocurrencies. By the same principle the exchange of NFTs through the blockchain brings art to interface with the financial world, being "exchangeable" with the same dynamic used in the exchange of virtual currencies and in part gaining or losing value, with a similar parabola.

NFTs certify the authenticity of a work of art, marking it permanently and unalterably, without depending on an expert to assess its originality. Certified originality consequently enables safe buying and selling.

Not only digital works.

Let's dispel a recurring misconception. NFTs cover both digital and physical works of art

and materials. Those who buy both physical and digital works of art are assured of their authenticity by creating the related NFT.

NFTs and Metaverse

The future is already here. It is easy to see how artistic NFTs play a key role in what will be, and in part already is the Metaverse. By its technical but also "philosophical" structure, NFTs will make a good impression in virtual art galleries and museums.

Beyond the aesthetic component, it is clear how the functionality of NFTs can facilitate

the sale of goods in the Metaverse. Will the combination of NFTs and the Metaverse, push art into

a new dimension? Rhetorical question. The future is already here!

Article created in collaboration with AetherVox S.r.l.

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