Without further explanation, you should now have at least a basic understanding of what NFT is. Since the introduction of web3, the technology sector has undergone significant change, from physical arts to NFT. So let’s take a look at how NearXart connects physical art to NFT in this article.
Prior to the development of NFT, the majority of the arts were created as physical works of art that could be hung in homes or scrawled on public walls. Thanks to NFT, there is currently a ton of online art that is widely accessible on various social media platforms.
Thanks to the Blockchain, art can be displayed online as intellectual property. For local artists, you might have been considering how to link your physical arts to NFT. You won’t need to worry about that anymore because I’ll introduce you to an organization called NearXart that focuses on linking physical art to NFT for free.
Before getting to know more about this organization, let’s take a quick look at what NFT is all about and other important information.
Table of Contents
- What are NFTs?
- How does NFT work?
- The Development Of NFT Art In The Post-Pandemic Era
- The Linking of Physical Art to NFT
- What is NearXart?
- How NearXart operates from physical art to NFT
- Frequently asked questions on physical art to NFT
What are NFTs?
NFTs can simply be explained as the digitalization of different works of art. The non-fungible token is powered by the blockchain, which stores data from different components and allows for originality or uniqueness. The ownership of the NFT is recorded on the blockchain and can be transferred by the owner, which makes the NFT sellable and tradeable.
Before NFT, there was an auction house where the ownership of different artworks was sold and transferred to another person. But obviously, this is not online and also, there is no digital version of the art being auctioned. Also, there were art galleries for viewing works of art, but this doesn’t give the accolades the owner deserves to them as much as NFT does.
NFT provides for the uniqueness of a product such that no other person can claim ownership of such a product since it has been uploaded on the blockchain. The art can only be sold or traded by the owner to other people. For instance, Jack Dorsey’s first Twitter tweet was sold as an NFT because of its uniqueness.
NFT can be made of digital content, gaming items, domain names, investment collateral, media, etc., which are unique. Immediately after these products are uploaded on the Blockchain, they become unique products that can not be created by another person.
How does NFT work?
NFT is powered by a smart contract on the blockchain, such as Ethereum and Solana. In addition, it connects artists directly to their audience without any form of intermediary. NFT serves as an identity management platform because it is built on the blockchain and hence creates uniqueness for that particular art.
The value of an NFT is primarily defined by the market and demand for such digital assets. The unique data makes it easy to verify and validate the ownership and transfer of the digital asset between owners. Such as, when an artist creates an artwork, they can decide to share the ownership with a group of people who buy the token on the blockchain.
The popularity of NFT has attracted the interest of different celebrities and CEOs all around the world to invest in these digital assets. Some celebrities even go as far as using NFT as the ticket for their shows. The digital arts have come a long way, which is why we need to look at the development of NFT.
The Development Of NFT Art In The Post-Pandemic Era
The COVID-19 era, which brought about a lot of changes in most industries, can be linked to the development of NFT. Due to the prevalence of COVID-19 during that time, many industries saw a decline in sales and failed to receive the attention they required. Since it was the era of staying indoors, this mainly had an impact on how goods and services were transported from one location to another.
Only a few industries were able to grow and boost their sales during this time, and those were technology and finance. As a result, many sectors have made the decision to incorporate technology into their operations in order to better fit the current state of the world, which is one of digitalization.
This time period forces the art world to adopt digital art, also known as NFT, thanks to the use of blockchain. This gives physical art creation a digital identity that can be NFT-ized and allows for a variety of artistic expressions. This means that, thanks to blockchain, art can be produced in various forms while still behaving as the sole property of the original creator.
Blockchain allows for the unique and permanent storage of data, which also makes art a unique product of an artist. This helps protect the work of an artist and helps them make money from their creation. Also, it helps an artist move their art from one place to another without having to move it physically to whoever buys it.
The Linking of Physical Art to NFT
One thing every artist ought to know is that physical art can also be linked with NFT as long as both go in line together as one. Imagine buying an NFT and also having the physical arts attached to it. This helps the owner and buyer of an NFT prove the genuineness of the art.
Also, linking physical art to the NFT helps you get more value for the art, such that when you want to sell it, the physical art will be attached to the NFT. Let’s use an example of a real estate organization using NFT. When you purchase their NFT, you get exclusive access to the purchase of their land as a VIP, and this makes you different from those who don’t have the NFT.
Linking physical art to NFT can also make an artist earn what they deserve for their creation, such that they get the royalty they deserve. Unlike just selling a physical work of art and getting just that one-time payment for the art, NFT creates a platform where an artist can keep earning from their creation. This comes in the form of royalty to the owner of the art.
This linking of physical art to NFT also helps an artist deal with the buyer of their creation directly without having to involve any middlemen. As long as such an NFT is listed on any NFT marketplace, the buyers will always come for it, and there will also be demand for the physical art.
It is also essential to set a roadmap for your future buyers as to whether you want to sell both NFT and physical art separately or whether you want to sell both together. The decision to sell together or separately is binding on the artist because both have different values.
So by now, you should have seen how physical art can be linked to NFT and understand how blockchain creates uniqueness for the product. While so many digital artists and investors earn through NFT, the local artists are left behind due to not having any understanding of the blockchain.
So, how does this void get filled, and how do local artists gain the recognition they deserve in this digital age? This is why I will be showing you an organization that has set its course on this part. Let’s get to reading about NearXart, which is on a mission to link physical art to NFT.
What is NearXart?
NearXart is a decentralized autonomous organization that focuses on several initiatives that range from creating utility NFTs to empowering creatives and giving back to the community.
The organization started with the long-term vision of an art enthusiast and also an artist named Kareem.
He realized that there has been little coverage of local artists and their talent, and he believes with the emergence of blockchain, which has brought to life NFT, any local artist can advertise their talent out there. In a quest to solve this problem, Kareem set up NearXart as a channel to help creatives monetize their work and get the accolades they deserve.
In this present world, a whole lot of people have been earning from NFT, either as artists or investors. But this doesn’t really get to the local artists because most don’t understand the new technology and how it can elevate their business and also their talent.
How NearXart operates from physical art to NFT
Recognizing the default between blockchain and local artists, NearXart decides to pool its resources in order to foster a relationship between physical arts and the blockchain. This will allow physical art to be seen just like NFTs and can be purchased separately.
The services provided by nearXart to ensure that tangible art, local artists, and stunning local environmental pictures are delivered to the outside world are listed below.
NearXart uses its resources to create NFT both in physical form and also in digital form, which helps in the linking of physical art to NFT. They believe blockchain can be promoted more to the physical part of the arts in the form of physical NFT, while digital NFT will also be available. Digitalizing art that has been drawn in a physical form will make it more popular in the digital world.
Promotion on Blockchain
Since its founding, NearXart has put in a lot of effort to encourage local artists to use blockchain technology. They think that by doing this, local artists will be able to sell more of their works and be exposed to a wider audience online. Since digital artists and investors have been the main users of blockchain, the influx of local artists will strengthen it because there are more NFT investors online.
The organization also sees digitalization as a way of raising money through beautiful pictures of the local environment by listing them as NFT. This will also promote local photographers and their pictures, which will be minted as NFT, and, through that, raise money to support local environmental development.
Some of NearXart’s future projections include having a gallery that will include different works of art. People with any NFT from NearXart will have automatic access to this gallery. It will also possess a section for augmented reality.
Frequently asked questions on physical art to NFT
Can you turn physical art into NFT?
Yes, physical art can be converted into NFT, and this is possible with the blockchain and various NFT marketplaces available. All you need to do is to create a digital version of that physical art, and organizations like NearXart are available to help artists get this dream achieved. Reach out to them on Twitter.
As we can see, everything is becoming more digital, and a wide range of industries are starting to take advantage of this opportunity for growth. Local artists are innovative in their own fields, but they have not yet adopted blockchain technology in their operations. By connecting physical art to NFT, NearXart aims to bridge the gap between them and the digital world.