Crypto Art – What on Earth is it?

What is Crypto Art?

Crypto art is an emerging form of digital art that uses cryptography to create unique pieces of art. It is a new way for artists to express themselves and it has become very popular in the last few years.

Crypto art is a form of digital artwork that is produced using blockchain technology and cryptocurrencies. You could say that crypto art pieces are created by artists who use the blockchain as their canvas and cryptocurrency as their paint.

Table of Contents

What is Crypto Art?
What is an NFT?
What is Opensea?
What was the first tokenised Crypto Artwork?
Can I Buy Crypto Art Cheaply?
How do I Make My Own NFT Art?
Is Crypto Art the Future of Art?

What is an NFT?

Non-fungible tokens (NFTs) are a new type of cryptocurrency. They are represented by unique, non-interchangeable digital assets. An NFT can represent anything and can be traded and sold in the secondary market in a decentralised manner.

“Non-fungible” means that the digital art is completely unique and can’t be replaced

For example, a dogecoin or bitcoin is fungible — you can trade one for another dogecoin or bitcoin, and then you have exactly the same thing. An NFT is the only one of its kind and so it can be considered non-fungible.

What is Opensea?

Opensea is a content distribution network. It is a new kind of CDN that uses a decentralised blockchain protocol to store and distribute files. Opensea eliminates the need for expensive centralised servers, so file distribution is faster and cheaper.

Simply put it is a marketplace for the buying and selling of NFTs.

What was the first tokenised Crypto Artwork?

The paintings of Sasha Ivanov were the first tokenised crypto artworks, with an individual painting being worth 10,000 USD. The artist was one of the early adopters of this new form of art and is considered a pioneer in the space.

The first crypto art that was actually tokenised on the NameCoin Blockchain was ‘Monegraph’ (Monetized Graphics) by Anil Dash and Kevin McCoy. This happened on 2 May 2014 at the ‘Seven on Seven’ conference at the New Museum.

Examples of other noteworthy crypto artworks would be ‘MYSOUL’ by Rhea Myers which was issued on the Counterparty blockchain on November 11, 2014, ‘the Rare Pepe’ created by Mike on September 9, 2016, or the ‘FDCARD’ which was created by the Gaming Company EverdreamSoft on March 11, 2015.

What is the Most Expensive Crypto Artwork Ever Sold?

Mike Winkelman (aka Beeple sold his digital art collage “EVERYDAYS: THE FIRST 5000 DAYS” (ERC-720 token) at a Christie’s auction for $69 Million Dollars on March 11, 2021.

Can I Buy Crypto Art Cheaply?

The best place to get Crypto Art cheaply is at Fiverr. You can commission someone to create many different forms of digital art, NFTs and crypto art.

Some of the creators on Fiverr even suggest that you can mint the digital art with your own name and sell them on Opensea!

Check the Fiverr Gig Widget below for more details:

How do I Make My Own NFT Art?

5 steps to creating your own NFT

Making your own NFT is a fun and relatively straightforward process. Follow these 5 steps to create a piece of art that reflects your own style.

1 Choose Your Artwork – NFTs can be anything – videos, a text or even some music turned into a multimedia file. Check out Opensea for some ideas!

2 Get some Ether (this is the easiest and most popular way to make NFTs). Download the ‘Metamask’ free app on your phone and put some Ether into your Ethereum Wallet. Yes it’s going to cost some money to make your own NFT, and possibly some more to mint it (although it’s free if you do this on the Opensea platform).

3 Create and list your NFT on a marketplace. We recommend Opensea because it’s free to mint and you can have unlimited listings. There are other options such as Rarible or Mintable. You will need to connect your Ethereum wallet to your Opensea free account.

4 Create your NFT – once your wallet is connected you can go ahead and create your NFT, following the steps shown on Opensea. Get it minted and you’re in!

5 Promote your NFT – unless you have an existing audience you will need to promote your NFT to people interested in your art. We would suggest Facebook groups, Quora, Pinterest and Reddit.

Is Crypto Art the Future of Art?

The idea of art as a commodity has been around for centuries. However, the idea of digital art as a commodity has only been around for a few decades. Digital art is created by computers and does not use any traditional materials. It can be sold as digital files or as prints on paper, canvas, or other materials.

The future of crypto art may be to use it for transactions and creating rare digital collectibles that are stored in a blockchain instead of one central location.

Crypto art is still a very young and emerging form of digital artwork that uses blockchain technology to store the artwork and provide ownership records.

It also provides a way to verify ownership through the use of cryptographic signatures embedded in the work itself.

Much like cryptocurrency itself, the future is uncertain for crypto art. Whether is rises in value and popularity ultimately depends on how many people (especially the wealthy and influential) buy into it.

If you enjoyed this article you could try:

Dogecoin: What You Need to Know About the Meme-Fuelled Cryptocurrency

Or this one:

eToro vs Coinbase

For another interesting article on the topic of Crypto Art try here:

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