The NFT art revolution

What is an NFTNFT stands for NonFungible Token It is a token that represents a unique asset in most cases artwork The NFT token serves as a verifiable proof that the object in question is authentic and this can be verified using the blockchain network While NFT is used for digital artwork there are few instances where it is used to represent the ownership of a physicalAn artwork created by the columnist on RaribleWhy is it importantNFT lends authenticity and rarity to digital art which brings digital art closer to physical artworks It is also gaining momentum because recently Christiersquos a major auction house became the first to sell purely digital pieces of art by artist Mike Winkelmann aka Beeple The collection called the First 5000 comprises artworks created by the artist every day for the past 5000 days Each artwork from that collection is being sold at upwards of 5000 right now with some worth more than others Kings of Leon also became the first band this week to release an entire music album on NFT This according to some experts is just the beginning of an art revolutionBeeple aka Mike WinklemanControversiesLike any art this one comes with its own share of controversies The biggest one is the environmental impact of crypto art Bitcoin mining alone generates approximately 37 million tons of CO2 every year just to generate and keep the records of all the coins The environmental impact for Ethereum ETH is also similar and since most crypto uses ETH the impact is further compounded There is also the problem of cost related to making NFTs Gas fees or the transaction costs of transferring cryptos are huge on Ethereum This can vary from a few dollars to 500600 which means it may cost artists dearly to get in on this trend While Ethereumbased NFTs are the most prolific right now there are newer ecofriendly and cheaper ways to create NFT artworks on the horizon This would not only allow budding artists to make their mark but also help justify the validity of the NFT revolution One such project is KodaDot nftkodadotxyz which lets users upload and sell their art for freeHow to make your ownThe easiest way to make your NFT is by going to Rarible The site has a menu of options to help you make your first crypto You do however need a crypto walletmdashMetaMask metamaskio works best and you need some Ethereum which you will need to buy at an exchange like WazirX httpbitlysmdwazirx and then transfer to your MetaMask wallet You need some original artwork that you have created It can be an animation a still or any other form Register at Rarible Click on create Select single or collection then upload the image video or animation set the price royalties and description Then create item You need approximately 100 worth of Ethereum to create a single token on Rarible Here is a link to a NonFungible Token I created on Rarible httpbitlysmdnftWhat are the chances of making money in digital artThe chances of making money by selling NFT are slim to none You need to be a celebrity an influencer or a real artist to make any sort of money Lindsey Lohan Grimes rapper Azealia Banks and Rick and Morty artist Justin Roiland are some of the celebrities that have had success selling NFTs While creating might not be the best way to make money with NFTs you can always invest in the art The right art piece can increase in value overnight