Art

Log in to NFT. How do artists and investors make money on cryptocurrency?

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Photo from siding-rdm.ru

Photo from siding-rdm.ru

The cryptocurrency boom has opened up a new way for monetization for artists and an alternative financial instrument for investors. Learn from an expert how to make money on NFT if you create digital art or want to invest in it.

“You can’t sit and wait for a buyer.” How to start in NFT?

For NFT artists an additional monetization channel and a way to expand your audience. To assign a unique digital certificate to a work, it must be created in digital format or digitized. Selling digital art is easier than analog: there are no problems with logistics, the “human factor” is minimized.

NFT art is sold on special marketplaces: OpenSea, Rarible, SuperRare and others. The authors register on the site and upload their objects there with the price and description. Many services charge a commission for accommodation – about $ 20-30, sometimes higher. There are free sites, but due to the large amount of “garbage” it is difficult to break through there, they do not attract serious artists and investors.

NFT-marketplaces work on the principle of auction: after downloading the work is put up for sale with a starting price, and buyers make their offers within a specified time slot. The one who gives the highest price by the end of the auction becomes the owner of the digital art object.

But just put your work on the site and wait for the buyer will not work. Art needs to be promoted. The artist can do it himself: through Twitter, profile communities, participation in digital events or direct contacts with investors. Or he can turn to intermediaries producers or agencies that specialize in NFT.

Start for beginners $ 200

NFT platform project manager Snark.art and NFT enthusiast Daria Rzhavtseva notes: the start in crypto art depends on the popularity and success of the artist.

For beginners, I would recommend starting with $ 200-300 per job. Artists who are already well known in the physical world can start from $ 800-1000. The market is so mobile that it is difficult to give general characteristics everything is individual and depends on the artist’s career, his recognition.

According to Daria, any artist with an audience in physical or digital art can be successful in the NFT format. All you need this is assistance in promotion and technical support if you need to digitize an art object.

There is no NFT market in Belarus as such, so artists have nowhere to grow, the expert considers. Our artists should dive into this progressive sphere and start selling their works as tokens.

Daria Rzhavtseva is also a business manager Fuelarts the first specialized accelerator for startups in the field of ART + TECH and NFT. In May, the accelerator opens training course on the launch and development of NFT and art projects. Daria recommends it to startups, artists and anyone who wants to enter the field from scratch.

Our report will be useful for both professionals and beginners – the first in-depth research ART + TECH market and NFT startups, – adds the expert.

NFT investors need to “grow” artists

Daria Rzhavtseva considers the purchase of NFT a high-risk investment and cites the example of the famous case of the founder of Twitter. A year ago, Jack Dorsey sold his first NFT tweet for $ 2.9 million. Now the new owner decided resell it for $ 50 million, but the final bid barely reached $ 7,000.

You can buy a job and sell it right away with a small percentage. But if you are playing for a long time and talking about big investments, I advise you to invest in platforms, not in specific works, as well as in artists’ careers and infrastructure projects.

According to the expert, the optimal set for the investment NFT portfolio looks like this:

  • company tokens;
  • NFT – recognized, expensive (and therefore highly profitable) artists plus promising developing;
  • cryptocurrencies (first and second levels of the blockchain – Layer 1 and Layer 2).

Thus, the portfolio becomes diverse, and even if one of the areas declines, the investor has others – sums up Daria Rzhavtseva.

Text: Tanya Kaimovich

Source: Myfin.by

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