The age of NFT works of art

The value we attach to things is often determined by the eye of the beholder – or it is a social agreement.

Art of any kind is worth as much as people are willing to pay for it and it often becomes a status symbol.

The trend that has marked the last few years and which is more and more present is the investment in NFT digital art, which represents a new market – both for artists and collectors.

NFT(Non-Fungible Token) are unique digital assets that cannot be replaced.

They are part of e.g. Ethereum blockchain(Ethereum is a type of cryptocurrency) and the data stored inside the file has value.

In some cases, incredibly high value.

Collectors invest in them in the same way as in physical objects. As there are unique works of art that attract the attention of collectors, irreplaceable tokens (NFT) are the latest way to trade collectibles and encompass art forms ranging from digital art, and animation to music and virtual spaces.

Basically, anything that can be given some value and that can be stored in digital form can also be sold as NFT.

It is interesting that everyone can save digital works on their computer, print them or digitally publish a copy of a digital file, as you would make a print of Van Gogh’s work of art, for example, but the value is related to the original file, original work of art.

The most expensive NFT

n March 2021, artist Mike Winkelmann, known as Beeple, sold his digital artwork called Everydays- the First 5000 Days for a staggering $69.3 million, the highest price ever paid for an NFT.

This means that this incredible amount is given for digital art, which is, in this case, a JPG file.

It is a collage made up of individual works that the artist has created every day for 5000 days, since 2007.

This work was presented at the first digital NFT auction of the famous auction house, Kristi.

During the auction, 180 bids were received, and the starting price was only $100.

With a final price of almost 70 million dollars, this is the third-highest price that the work of a living artist has received.

When this figure is divided by the 5,000 pictures that make up the collage, the price of individual work is $13,860.

Digital superhero and senior

At the time this work was sold, in 2020, it was the most expensive sold work of NFT art at the time with a price tag of $552,603.98.

Even more interesting is the collaboration of 87-year-old comic artist Jose Delbe with painter and crypto artist Trevor Jones.

Jose Delba decided to cooperate and entered the world of crypto-art since, in the first year of the pandemic, all comic festivals at which he planned to exhibit were canceled.

Trevor made his version of Batman in oil on canvas based on one of Delb’s drawings made in pencil and ink.

NFT high school student

The artist known only by his first name Victor and the artistic alias FEWOCiOUS is a semi-anonymous 18-year-old artist who is finishing his last year of high school in Las Vegas.

He sold one of his animated works, The EverLasting Beautiful by FEWOCiOUS, for $550,000, including the original canvas on which the animation is based.

House on Mars

Mars House is a work that represents a digital property that was sold as NFT for $500,000.

Artist Krista Kim designed the first digital house made with 3D technology.

The house consists of glass walls overlooking the mountains of Mars. In virtual reality, you can visit the house, and the artist was motivated by the principles of meditative design.

Anonymous animator

Anonymous crypto artist Pak is one of the most successful creators, taking two places in the top ten NFT sales.

Pak is a superstar in the world of digital art and is credited with some of the best NFTs, and Elon Musk is just one of his many fans.

It is recognizable by 3D animations that are almost mesmerizing while watching them.

In March 2021, he sold one of his animations for $904,413.47.

The well-known auction house Sotheby’s marked its entry into the NFT arena by representing this artist.

NFT as a membership card

One of the most famous collections of NFT works used as avatars is currently the Bored Apes Yacht Club.

Bored Apes is a collection of 10,000 NFTs – unique digital images of differently designed cartoon monkeys.

Each Bored Ape also serves as a Yacht Club membership card and provides access to member-only benefits.

The individual Bored Ape is unique and programmatically generated from over 170 possible features, including facial expressions, fur color, hats, clothes, and more.

All monkeys are unique, but some are rarer than others, so their price also differs, and the price is influenced by the combination of the elements themselves, such as the color of the fur, the type of hat, earrings, and glasses, etc.

At the very beginning, one NFT monkey was estimated at a little over 100 dollars, while now the starting price is over 250,000 dollars.

The popularity of the club itself was further promoted by famous members such as rapper Eminem and actress Gwyneth Paltrow.

Even the Adidas brand used Bored Ape NFT as a profile picture on social media.

Celebrities in the NFT world

When celebrities recognize that something is becoming a trend, they quickly get involved in the game.

From music to photography and animation, some of the world’s biggest stars have joined the NFT market.

Rapper Snoop Dogg has released his NFT collection called A Journey with the Dogg which features NFT-inspired artwork and original music tracks.

Paris Hilton also created its collection of autobiographical NFTs, which consists of over 141 works.

A former partner of Elon Musk, musician Grimes, sold her unique digital works of art worth six million dollars.

She was one of the first celebrities to create digital art collections.

The age of NFT works of art