The digital renaissance has begun: Why are NFTS, which reach millions of dollars, so valuable and important?
Why is NFT technology, which allows you to sell works in a virtual environment, the name of many people, from Saba Tümer in recent weeks, so important?
The Renaissance has begun again, but this time with zeros and ones! Thanks to NFT, you can sell anything you produce digitally. Now thousands of digital artists are doing their worldly work in this way. Let's talk about NFT and see what can be cashed in this way.
With NFT, you can sell anything on a digital basis:
For this, what you are going to sell must be produced by you. Then you generate a token for your work and put it for sale on the respective platforms. A tweet you sent, a short video clip you took, a JPEG of a Spongebob drawing you scribbled on your notebook out of boredom, in short, anything digital can be converted to NFT and put for sale.
Although it is put on sale, there is no guarantee that it will be in demand, of course. What do you have anyway? If you see the event as an extension of the production of art and the exchange of works of art, rather than as an interesting digital enigma, there is no problem.
So what makes a work of art valuable?
Tough question, but a good start. In response, answers such as the artist's personal adventure, his position in society, his relationship with his work, his meaning in the society in which the work originated can be given, but it is not known how convincing it will be.
Are you confused? Take your tea and coffee and think about it a little more, looking at this Jackson Pollock painting that sold for $ 140 million:
"I do that, too.”
This interpretation is always made of the strange works of Pollock-like expressionists. Here's what's going on in the NFT, not much different from that. Whatever made Pollock's work $ 140 million, it's what made a 50-second Grimes video clip $ 390 thousand, or turned the first tweet on Twitter into a $ 3 million auction.
No one's holding you back. You can do whatever you want. Maybe you'll make good money. But first you have to attract people to your work. It might be a good start to have a story for that, too. All good artists have a good story. So are the works that people crush each other to buy.
Why does the NFT matter?
The NFT carries enormous potential for the liberation of art. Throughout history, artists have been able to earn money from their art in proportion to the appreciation of capitalists or crowds. This was also the reason why the Renaissance appeared in Italy, especially in Florence. Artists such as Da Vinci, Michelangelo, and Botticelli made money with works ordered by the Medici family and built their careers. Even today, it is possible for an artist to make money from his art largely through a patronage system.
Here's what makes the NFT exciting is that it has the potential to dismantle this millennial patronage system. Because the artist who sells his work through NFT continues to receive a share in every subsequent sale of that token.
Let's say you're a flower-nosed musician:
No one's heard of you, eden. You uploaded your first song to YouTube. It's been 1 year, and your song somehow reached 50 million hits on YouTube. For such a scenario, until a while ago, there was only one possibility: to sign a deal with a record company and make an album, and thus make money and share most of your income with the record company.
But now everything has changed. Let's assume that you also NFT when you upload your first song to YouTube accompanied by prayers and wishes. A friend who listens and likes it bought it for $ 20. Demand for the NFT of an artist's work, which reaches 50 million listens in 1 year, will increase. Because the probability that someone who listens to 50 million in 1 year will listen to 1 billion in 10 years and turn into a musical legend is quite high.
So your friend's $ 20 NFT will soon change hands, becoming more and more valuable like a rolling snowball. In this way, the owner of the work (yes, you) will not be condemned to any record company or boss because he gets a share of every sale made, he will be able to perform his art freely.