What is NFT, and crypto art project introduction

For us to understand the metaverse, digital artwork, digital collectibles, game props, and all those projects or ecologies that have been a big hit in the ethereal NFT space lately, we have to understand NFT.

What is NFT, and crypto art project introduction

We have introduced some metaverse concepts and projects to you earlier. These concepts and projects are all related to a token standard of Ether, and this standard is the NFT token standard.

To understand metaverse, digital artwork, digital collectibles, game props, and all these projects or ecologies that have been a big hit in the Ether NFT space recently, we have to understand NFT.

NFT stands for Non-Fungible Token, which translates to non-homogenized token. What it means is one token and only one.

Let’s take an example, in real life, many people like to have pet cats. Although everyone has a cat, each individual cat is different, and even if they are twins, there are subtle differences; there are no two identical cats in the world. So each cat can be expressed as an NFT token, and each is unique.

In terms of technical implementation, the implementation of NFT tokens on Ether has to follow a certain standard. Currently, there are two standards used to implement NFT tokens on Ether, one is ERC-721 and the other is ERC-1155, of which ERC-721 is more widely used.

This NFT token has a standard and can be implemented, but what is it used for? At first it was used in games, as exemplified by CryptoKitty, an early game title in Ether. But then it was used more and more in the art world.

Why is that?

Because there is a pain point that has been plaguing everyone in the art field, and NFT happens to solve this problem relatively well. This pain point is: how exactly does a piece of art know it is real? Who has the real artwork?

Let’s take a real-life example: Leonardo da Vinci’s famous painting “Mona Lisa’s Smile” is world-famous. This painting has been imitated by countless people since its inception, and with the addition of high technology nowadays, the imitation of this painting is even better. Many places even hang this painting for various purposes.

But all those who know the history of this painting know that there is only one authentic painting, in the Louvre in Paris, France.

But if one day this painting was stolen from the Louvre and then only 1 year later it was claimed to be recovered, would we then look at this painting and still be 100% convinced that it is the original and authentic?

I believe there will be people who will question this, because the counterfeiting of works will become more and more sophisticated as technology continues to improve, which will make the identification of works more and more difficult, and in this case, it is entirely possible for people to question whether the painting could have been swapped.

But combining the artwork with the NFT presents a different picture: let’s take the same example of a famous painting, where we can separate the image presented by the painting from the ownership of the painting. The image of the painting is a file, which can be physical or electronic, and even with permission, multiple people can copy and use the file of the painting. The ownership of the painting, however, is represented by an NFT token.

Since NFT tokens have unique properties, this means that the artwork belongs to only one person at a given moment.

So when an artwork is created, the artist combined with the NFT can operate like this: he equips the artwork with an NFT token, and the artwork contains two parts: one part is its image, which can be in paper or electronic form; the other part is this NFT token.

When he resells this artwork to someone else, this NFT token is transferred from one wallet address to another on Ether. This way, everyone in the world knows that the owner of the painting is another person, and this person’s wallet address is visible to everyone, so everyone can check on the Ether browser and know that this person is the real owner of the artwork. In the future, the artwork will be circulated and the next buyer will never have to worry about the authenticity of the artwork.

Introduction of encrypted art projects.

Next I will share various projects based on NFT with you one after another. These projects are all classic and top streams in various fields. The vast majority of these projects are created by overseas teams, so many of them do not have Chinese websites only in English, even with translation software, many places also seem to be rather awkward translation, so inevitably on the reading of the majority of Chinese users caused some obstacles, we can only try to overcome a little, hard to read, many places half guess half look probably still can read.

Today we share with you the art projects. This type of project is generally a platform where artists can put their artwork directly on the site for sale, and users buy directly from the Internet.

In the introductory article on NFT, I shared with you that the most critical aspect of trading artwork using NFT is the trading of the NFT tokens that represent that artwork. So to trade an artist’s artwork on such sites, buyers must log in with their Ether wallet, and after buying the artwork, the NFT token corresponding to this artwork will be sent to the buyer’s Ether wallet.

SuperRare is one such website.

On the front page of the website, there is a list of recommended artworks, each artwork is marked with its author and price, and users can click into each artwork to see its detailed description.

Users can also search for the artwork they are looking for on the site, or browse through all the artworks.

However, most of these artworks are more expensive, more than ten ETH or even dozens of ETH are more common.

Makersplace is also a similar website. Compared to SuperRare, users can register and upload their artwork on the site, which is a more popular artwork site. The price of the artwork on it is also relatively affordable, with many of them costing less than 1 ETH.

There is another website that specializes in selling the works of top crypto artists: cryptoart

The artists on this site are among the top artists in crypto art today. For example, Beeple, an artist whose works were widely reported in the news and sold at Christie’s for nearly $70 million, sells many of his works on this site.

Besides Beeple, there are also pak, trevorjonesart, maddogjones, and others.

These are all art trading sites based on Ether NFT tokens. With the recent crypto artwork boom, similar sites are still emerging and extending from the ethereum ecosystem to the coinan smart chain and other ecosystems.

However, many of the new sites that have emerged since then are basically the same in my opinion, with no outstanding features, and the value of the artwork on them depends on one’s vision and appreciation.

When I was browsing these websites, my biggest feeling about the artworks displayed on them is that they are basically exaggerated and abstract, and many of them are related to the history of blockchain or the characters in blockchain. The symbol of Bitcoin, the symbol of Ether, the imaginary image of Satoshi Nakamoto, the avatar of V God and other images with iconic significance in the history of blockchain development are often elements of the creation of these works.

But whether or not these works are worth their price tag depends on whether or not the individual likes them, and I personally have never bought one.

I think with the rise of crypto art, I’m afraid it’s the emerging crypto artists who will enjoy the dividends. In the traditional field, they are in a relatively marginal position. And this emerging field is blank, and they enter this field without all the restrictions and constraints that have been formed in the traditional art world, so they have their own opportunities and space.

This is another aspect that reaffirms that for any emerging field, the first movers who venture into it often enjoy huge dividends.

This is true for crypto art, and earlier for bitcoin and ethereum. Thinking of this, we should be more hopeful and confident in this industry of digital assets.

For the above terms such as NFT and crypto art that I have talked about, probably the vast majority of my friends have only heard about them and may not really understand them, nor have they ever invested or operated them with real money.

Of course, I don’t suggest to go to invest blindly when you don’t understand them, but I just share with you that there is such a field that you can keep your eyes on. The more recent things are, the harder it is for the general public to understand them, like Bitcoin ten years ago.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-is-nft-and-crypto-art-project-introduction/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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