We have collected some valuable data published by “ThePrint” news, sharing about the auction made for NFT arts. Let’s dig into this topic in detail by exploring the real-time experiences shared by visual engineers describing their sales in the digital art nft market!
3o yrs old, Karan Kalra, a visual engineer shared his story in public describing the pricing insights for this artwork in the NFT art gallery.
It’s a sparkling sunny day, he woke up and was surprised while he checked his barrage of emails. It’s an acknowledgment email, describing his artwork purchased for “600 wazirx”. In his art, he portrayed an illustration of his dog enjoying a happy ride in a car. Once he finished his masterpiece he waited for his first big sale.
Karan further added, it happened on one fine day in 2021. He was overjoyed that this work has earned him 600 wazirx, that’s around 80,000 rupees in India.
Sounds interesting, right?
NFTs can give you huge returns, beyond what you think. It could be any NFT from art, ranging from the soundtrack, image, video, GIF, or any collectibles that you think of in the real world. NFT welcomes any physical piece of work into digital guaranteeing ownership to the owner. It’s unique in our world and could be replicated. Its jaw-dropping features like immutability attract the buyer on the other hand.
As a token of appreciation to the artist, much Indian art industry steps forward in integrating with modern NFT ideas. By the way, the NFTs art gallery becomes a better medium for the artists to collab with their buyers at the cheapest source. Intermediaries are permanently shut off with the arrival of NFTs.
Once a buyer is ready to purchase, the artist transfers the ownership by making a “digital signature”. It is recorded proof or guarantees a buyer possesses an original work from the artist. A digitally signed painting can hang on your digital wall, and even you can take complete ownership from the artist by paying them.
In terms of collaboration, NFTs for arts created a huge revolution in the life of artists, said Kalra. Kalra added, before NFTs, it was really challenging for him to sell this artwork, and even felt he was a second-class citizen for selling his art. He needs to approach a middleman to make a sale. Now, he was delighted to make his sale without relying on a middleman.
Shreya Daffney also shared her story. She is 29, an artist and architect, who sold over 30+ artworks in the last 5 years. She said she was selling art that represented a coastal town, like udupi.
Another one, Christie’s sold Beeple’s ‘Everydays: The First 5000 Days’ in 2021 for a stunning $69M. This art is sold for a bigger price at a major auction and it was the first ever NFT art sold at that auction.
Art Vs Artist
35 old visual artist from Kerala, named Vimal Chandran, too shared his experience while selling his nft art. For a long period of time, he was creating digital art in his workspace. On one fine day in 2021, his work was sold at an unimaginable price.
Further his new series called “Folk SciFi”, was minted on the previous day of the sale. Within the next 24 hrs, it was sold.
Constantly being a success factor, nft arts largely transformed the lives of young artists. The above examples prove it quietly.
Are Art Galleries Ready?
Digital art galleries have become one of the best alternatives to traditional galleries. Arts are portrayed digitally and placed for auction in the digital art gallery which holds a huge potential to attract visual audiences. High-walled traditional galleries are being replaced by the nft art galleries proving the evolution of our generation.
Beyond offering constant support for the artist, NFTs for arts are becoming a mainline business for youngsters by creating massive opportunities for buying and selling.
Read also: How to Turn Digital Art into NFTs?
A popular traditional art gallery named, Vadehra Art Gallery, has not yet showcased any art nft but silently insisted that they support any representation of art in nfts.
Vedehra also said nothing can replace exposure to real physical art in person.
NFT — Art Or Money?
Top celebrities like Amitabh Bachchan, Yuvraj Singh, and Manish Malhotra, are inspiring youngsters by owning their own NFT. So, being a good space to showcase individual talents, tons of digital creators are flourishing in this NFT era.
Quite a few questions are raised, saying whether nfts is for art or for money.
N number of allegations are placed before, let’s see one of those. Curator and faculty at Ashoka University, Srinivas Aditya Mopidevi said, cryptos became mainstream but a sudden hype boomed in NFTs in 2021. Momentum passed from cryptos to ntfs creating big business opportunities. Success stories created by nfts are viral and proven. You can even step forward and make your success story by creating an NFT Marketplace For Arts. Developers at a reputed NFT Art Marketplace Development Company can offer endless development solutions to inspirational business freaks who are into nfts.
Blog Credits: Medium