The NFT art that the whole world is paying attention to has been getting a lot more attention lately. Artists and curators have been using installation, painting, video, photography, and physical sculptures to reflect on our current society in this contemporary art form.
This type of art stems from an increasing awareness of the human impact on the environment, and it can be seen as a response to this new era of climate change that we live in.
Many artists and galleries are involved in the movement, amongst them some of the biggest names in contemporary art. Although many of these installations are beautiful, most also raise questions that make you think about our world.
What is NFT art?
Non Fungible tokens (NFTs) have been around since 2013 but became more visible in 2016. The technology used to create them can be traced back to the 2008 CryptoKitties, a game released on Ethereum, the first blockchain ever, which turned into an unexpected phenomenon.
Suppose you join a marketplace using Bitcoin or Ethereum and buy something (such as virtual pets). In that case, you receive an in-game item on your account that represents the real-life decryption of a digital asset (cryptocurrency). You can then sell this item on many marketplaces and trade it with other players.
Eventually, a new type of game was born called CryptoKitties. The game’s creators were able to create these digital cats with their unique characteristics, and the owners of these “digital pets” actually paid money to breed them.
This created the first Ethereum-based casino market, where players could gamble real money for virtual items in a game.
Soon after the release of CryptoKitties, players of the game started trading the digital cats, and then people started to pay real money for them until, like any classic bubble, it all came to a stop.
The new thing that was born was not just a virtual “game” (people were investing real money in it). It created a whole new form of art; the NFT art. NFTs are unique digital assets that are owned and traded by their owners.
How do NFT Arts work?
To start to understand, NFTs have some common technical characteristics.
- Cryptographic methods protect them. NFTs can be public (everyone can see them) or private (the owner can only see them). They are non-fungible and represent a specific value of an asset. NFTs have a fixed amount of units in circulation that cannot be increased once created. They don’t exist outside their blockchain and provide a digital identity for their owners.
- NFT art is an artistic creation that is created with the above-mentioned technical characteristics in mind.
Below are some examples of NFT art:
With Bitcoin and Ethereum, there is a high level of anonymity, and no one knows who their creators are. They have no real-world identity, are just numbers in a block, and don’t change hands through physical means. This creates a feeling of detachment from reality that invades our wallets and reality.
In the case of NFT art, the technology is used to create artwork that can call attention to a specific situation in the real world. For example, ” The Great Flood, “a video piece by Zach LeBeau, is available on the Ethereum blockchain and reflects on devastating floods in our world. ‘The Great Flood’ is a short video of an artist sitting at his desk doing some work.
NFT art is a new form of contemporary art that uses the technology of NFTs as a medium to communicate with its audience. Visual artists are using their imagination to tell stories about environmental issues, and behind the scenes, these blockchain-based projects create new economic models. NFT art goes beyond simple illustrations and can help us look at things in new ways.
NFT art can become a powerful tool for innovative solutions to current problems. It can also help us look at these issues and find solutions creatively and uniquely.