Digital art
is work made
with digital technology or presented on
digital technology. This includes images such as png,or jpeg files created completely on a computer, laptop, smart phone, or tablet and or hand-drawn images scanned into a computer and finished using a software program like Adobe Illustrator.
NFT stands for "non-fungible token." At a basic level, an NFT is a digital asset that links ownership to unique physical or digital items, such as works of
art, music, or videos.
Fungible items can be exchanged with one another with ease because their value isn't tied to their uniqueness. For example, you can exchange a $1 bill for another $1 bill, and you'll still have $1 even though your new bill has a different serial number.
Non-fungible items aren't interchangeable. With NFTs, each token has unique properties and isn't worth the same amount as other similar tokens.
How do NFTs work?
NFTs are largely part of the Ethereum blockchain, although other blockchains have implemented their own version of NFTs. Like bitcoin or dogecoin, Ethereum is a cryptocurrency, but its blockchain also keeps track of who holds and trades NFTs.
What's a blockchain?
Blockchains are complex, but essentially they allow you to store data without having to rely on a single party to keep things secure and accurate.
Is this the future of collecting?
A digital file can be copied any number of times, including the art that comes with an NFT.
In contrast, NFTs give you something that cannot be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just as with physical artworks). If we use physical art collecting as an example: anyone can own a Monet print. The original, however, can only be owned by one person.
Is every NFT unique?
Technically, each NFT is a unique token within the blockchain. Although it could be like van Gogh in that there is only one true version. In a trading card scenario, the artwork could also be numbered and there might be 50 to 100 copies of it.
Are NFTs worth paying thousands of dollars?
The complexity of NFTs is partly due to this. While some people treat them as the future of fine art collecting ( a playground for the super-rich), others treat them more like Pokémon cards (which are accessible to regular people but also a playground for the super-rich).
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