Crypto Art and NFT, what’s that?
I try to put it simply. Crypto art is a category of art related to blockchain technology. It is becoming more popular every day because the underlying technology provides an unprecedented ability to purchase, sell, and collect pure digital art products by anyone in a decentralized manner. That is where the NFT (Non-Fungible Token) comes into play.
An NFT is connected to digital artwork and represents the decentralized certificate that certifies the authenticity and records the ownership relationship.
Generally, we can look at the NFT like a cryptocurrency, where each coin does not symbolize a numbered value but has its “own” relation to a work of art and contains non-changeable, accurate information about it.
With these explanations in mind, we are beginning to understand where the underlying value of an NFT comes from.
Like any cryptocurrency, we have a digital wallet where we store our NFTs—the certificates for artwork. So if you want to transfer the rights of digital artwork – be it graphics, audio, or video – to someone else you can do so by sending the NFT from your crypto wallet to the buyer’s wallet—that simple.
Now imagine how easy it has become to collect and trade digital artwork. The new owner to whom we have transferred the piece of art via our crypto wallet can directly resell it at any time using a smartphone.