So how did we come to NFT art from blockchain?
How do we get NFT art from blockchain?
Does NFTs begin with Beeple? Of course not. It may be difficult to find the exact source of NFT. Unique digital products have existed for several years. But when did these unique digital objects change from commodities to "works of art"?
Did NFT start with Bill? Of course not. It is difficult to find the exact origin of NFT. Unique digital collections have been popular for several years. But since when did these unique digital collections "cross-border", from commodities to works of art?
This of course leads to a bigger question, "What is art?" There is no simple answer to this. Digital currency-like Bitcoin before NFTs-can it be regarded as art?
This may lead to a bigger question, "What is art?" The answer to this question is not simple. Did digital currency, like Bitcoin, appear before NFT?
In fact, maybe they can.
In fact, they can.
Money has been used in art many times before, and some artists just show a lot of physical money as works of art in galleries. In 20 17, the artist Danai Anesiadou sealed a kilogram of gold in plastic and declared it a work of art.. Back in 1994, Bill drummond and Jimmy Coty performed a "work of art", and they burned100000 pound notes in the fire.
Money has been used in art for a long time, and many artists show bundles of cash as works of art in galleries. In 20 17, when the artist Darnay sealed a kilogram of gold in plastic, he declared that it was a work of art ... As early as 1994, the works of art exhibited by Bill and Jimmy burned1000000 pounds to ashes.
Before NFTs appeared, did digital currency's form play an artistic role? It's possible. (This is also a question that art historians will definitely argue in the next few years. However, most people in this field agree that the first real digital NFT artwork may be CryptoPunks, followed by CryptoKitties, which premiered in the second half of 20 17 1 1 month. CryptoKitties was (and still is) a blockchain game based on Ethereum, allowing users to collect and breed digital cats. Through the powerful CryptoKitties online community, users can create their own unique cats-forever existing as NFT-and trade and sell with each other. In the first week of its release, users of CryptoKitties bought more than1million dollars of these digital cat images!
Did digital currency appear before NFT as an artistic expression? It's possible. This may be debated by historians in the next few years. However, most people think that NFT No.1 is an early cryptopunk, a cat fan created on 20 17. Mysterious cats are based on Ethereum, and users can collect and breed new mysterious cats. In the rapidly developing mysterious cat online community, users can generate their own mysterious cats and trade as NFT. In the week before the product was released, users who love cats bought images of cats worth more than $654.38 million!
Although online cats may seem a bit serious as pioneers of a large-scale artistic revolution, people buy these cats for the same reason as anyone buys art. These images look good. It's fun to buy them. You can make money from it, because you buy appreciated assets. This is a way to show that you are "informed" and "educated" (or at least "educated online"). This is a way to express your interest and support the artist financially. CryptoKitties also shows a decisive and revolutionary feature of NFT art, which can be touched by collectors of almost any wealth level. The most affordable CryptoKitty NFTs starts at only 12 USD.
Digital cats may not look serious. People buy these things for the same reason as other works of art. These photos look good. It is fun to buy them. Because you buy value-added assets, you can make a profit from them. This is an act of showing that you are an insider. This is a way to show support for artists who are interested in you. For users of any wealth level, mysterious cats can participate. The cheapest mysterious cat NFT is only 12 dollars.
Developers (correctly) realized that these cats' non-artistic works were just the opening notes in the great symphony of collectible digital art, and they soon began to create online markets where they could buy and sell non-artistic works, and new artists in this field could turn their works into non-artistic works. In 20 18, many NFT markets, such as SuperRare, OpenSea, Nifty Gateway and MakersPlace, began to operate.
The mysterious cat NFT is just an appetizer to collect digital art. After realizing this, developers quickly devoted themselves to developing an online trading platform, on which NFT can be bought and sold, and emerging artists can also project their works to NFT. In 20 18, a large number of NFT trading platforms such as SuperRare, OpenSea, Nifty Gateway and MakersPlace began to rise.
In most cases, these NFT markets make money by extracting a certain proportion of NFTs sold. In return, they won the NFT in front of the buyers and promoted the transaction.
In most cases, these NFT trading platforms make money by selling NFT and charging fees. In return, they need to show the NFT and facilitate the transaction.
With the rise of these online markets, more and more players began to set foot in the game. Literally. After CryptoKitties, one of the most prominent entities joining the NFT space is the official platform of NBA, which is used to sell the game collection-NBA Top Shot. In the first half year of operation, NBA Top Shot has completed about $400 million in business!
With the rise of these NFT trading platforms, more players began to enter this game. After falling in love with cats, the most prominent NFT player is an NBA official who sells Top Shot as an NFT. NBA Top Shot earned $400 million in the first half of its operation!
The success of NBA Top Shot is very important, because it shows that if it means they can participate in their favorite sport in an exciting new way, a fan group that may not be inclined to technology will take measures to become such a person. Another similar example is that the rock band kings of leon released an album as an audio NFT at the beginning of 20021. Their fans are willing to go to the NFT, and this album has earned millions of dollars for the band.
The success of NBA Top Shot is very important, because it shows that a community fan who doesn't know technology can have a new way to interact with their passionate activities. In addition, the rock band Royal Lyon released the audio NFT at the beginning of 20021. Their fans are also very happy to participate in the NFT, and this record has sold millions of dollars.
The story of the journey from blockchain to NFTs can also be seen from the way we have seen NFTs change the nature of art collection as a financial activity-especially when it comes to how works are resold. To give an outstanding example, a group of art collectors who call themselves Yuan Wallets bought 20 pieces of Bip's NFT artworks in 202 1 year 1 month. Then they divide the ownership of the work into tokens, and then they sell these tokens to the public. Thousands of people bought them. According to the value of these tokens at the time of writing, these 20 works of art have now appreciated by about 6 times.
The journey from blockchain to NFT can also reflect how NFT is sold as a work of art. In a classic case, Metapurse, an art investment fund, bought 20 NFT works by Beeple on 202 1 and 1. They break down the ownership of these works into the ownership of tokens and sell them to the public. Thousands of users bought them. By the time I wrote this book, the value of these 20 works had exceeded six times the original price.
Try Rembrandt's works.
Made of rembrandt's paintings.
Everyone started to act. Bhad Bhabie, also known as the "Cash Me Outside" girl, has auctioned 20 NFTs based on her famous memes.
Everyone is involved. Bhad Bhabie, a girl called "one-on-one" by the public, auctioned her 20 NFT works.
So now, we are at a point where there seems to be unlimited opportunities and continuous innovation, because we see blockchain connecting with technology in new ways.
Now, we are at such a moment that the achievements of blockchain and technology have endless opportunities and innovations.
At least for now, the demand for NFT products seems endless. Even those fans who may not be "keen on technology" are willing to become t-o-NFTs. But with this success comes a reasonable question about where NFTs will go next.
At least at this moment, NFT products seem to have an endless appetite. Fans who don't know much about technology are also interested in NFT. But what follows is the compliance problem of NFT's next step.
Artists are constantly trying new art forms that can be created virtually. Developers are considering what else can be sold virtually (or as NFT). For example, the NFT virtual real estate market is booming. In real life, you may not have a mansion, but now users can buy one in the virtual world. We also see collectors scrambling to come up with the best way to show their NFT. Enterprises are doing the same because they want to develop and launch their own unique NFT products. When you have a product, you want it to appear in front of your customers. But who are your customers and how do they find your nonfunctional tests? This is what we are still figuring out.
Artists keep trying creative forms. Developers are also thinking about what they can sell. For example, the market share of NFT virtual real estate is growing. You may not have a house in real life, but now, users can buy real estate in virtual world. We also saw that collectors quickly found the best way to show their NFT. Commercial operators are also doing it. They want to develop and publish their own NFT. When you own an NFT, you want to show it to your customers. But who are your customers and where are they? This is a question that we are still thinking about.
From this evolving pattern, a reliable wisdom has emerged: don't bet on non-functional tests. Those who say that non-functional financial services will remain small and niche markets are wrong.
From the development trend, don't gamble with NFT. Those who think NFT is small and beautiful are actually wrong.
Those who claim that only people who work in the technology industry will buy NFT are obviously wrong. Those who claim that NFTs "may be beneficial to the ignorant technical proletariat" but "we will never see those things sold by big auction houses for millions of dollars?" You guessed right; It's not right either.
Those who think that only technical practitioners can buy NFT are also all wet. Those who think NFT is dirty and won't get a good price at auction houses are also wrong.
What walls will NFT break through next? Although no one can predict the future for sure, in this book, we will determine the best candidate for where NFTs may take off next.
What is the next obstacle that NFT needs to break? No one can accurately predict the future. In this book, we will look for the NFT that is about to take off.
In the distant future, one day, in a market, non-functional digital cats are so common that people will hardly be surprised. We may review them in entertainment because we know that all this seems to start with collectible digital cats.
One day in the future, when NFT is too ordinary to attract people's attention, when we look back, we will find that everything is caused by a mysterious cat.