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NFTs & The Future of Art

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The term “starving artist” has long been an apt one in the art world, but not in its traditional sense. Throughout history, artists have been getting short-changed by corporations and middlemen who have profited from their work long after the money they have received is gone, often only a fraction of their piece’s increasing value over time.

Many people believe the advent of NFT and the decentralisation of art offer a fairer, more egalitarian way of doing things. By creating and releasing artwork as non-fungible tokens, creators have the opportunity to take back control of how their work is used, where it is used, and how they are compensated for it, making it more profitable for them in the long term.

The Utility of NFTs

While NFTs have many levels of utility, their most common use case is in digital artwork, with online works from artists such as Beeple, Grimes, and Pak becoming popular and selling for huge sums of money.

Many believe the ultimate utility of NFTs will only be realised within the Metaverse, where they will be used for everything from proving ownership of virtual land and property to creating unique collectibles that we will use to decorate our own personal virtual space.

Why Are NFTs Important for Artists?

According to the NFT artist pleaser, there are three significant ways that NFTs will become important to artists.

Firstly is their ability to include smart contracts, which can potentially revolutionise how royalties are paid and how artists earn a living.

Before the advent of crypto, everything was reliant on trust: signing papers, waiting for payments; plenty of third and even fourth parties involved, taking their cut; and once the piece is sold, that’s it for the artist.

Smart contracts can be programmed to execute every time a piece of art is sold or resold among collectors, and the original artist can receive a cut of that sale, continuing to earn from their work as it grows in popularity and value.

The second benefit NFTs bring to the art world is provenance. The nature of blockchain means it can be used to not only prove where the artwork originated from, but also where it has been, and a clear record of who has owned it along the way.

This is useful because prestigious gallery owners, renowned collectors, or even celebrities can impact the value of a piece of work.

It also means the original artists can be credited for their creations, and it’s almost impossible for people to sell NFTs by fraudulent means.

The final benefit is that giving digital artwork value through its association with NFTs has created a new class of asset that reflects the newer generations who live in the digital world just as much, if not more, than they do in the physical world.

As the world moves more and more into the digital landscape, the need for physical belongings is going to become less and less, and so objects like pieces of art will be valued and viewed more in the online space.

For artists, NFTs have opened up a whole new landscape for them, and it will evolve as time progresses, for the benefit of all.

NFT Metaverse Gallery

We’re helping to create this new landscape of art with the upcoming launch of an NFT Metaverse Gallery in partnership with famed artist Mark Mallia.

The gallery will allow Mark and a small group of talented artists handpicked by Mallia himself to display their works in a virtual gallery for people to view.

The gallery will be made up of two rooms, one featuring general pieces from the collection of artists and the second featuring exclusive works that they have also designed.

To give even more value to the collectors, anyone who purchases a piece of art directly through the gallery will not only receive the 1/1 digital NFT version but also a physical copy of the piece itself, bringing the art into the real world alongside the digital one.

For more information, and to sign up for an entry pass to the gallery visit https://arize.io/mark-mallia-metaverse-gallery/


Founded in 2018, ARize is an industry leader in the 3D and AR industries. With an ethos of putting the power into the hands of the creators, their vision is revolutionising e-commerce, blockchain technologies and metaverse spaces. ARize is on a mission to bring 3D and AR capabilities to everyone, supercharging the visual experience it brings.

For more information about ARize, their products and services, please visit https://www.arize.io or contact us at https://arize.io/contact.html

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