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Lilian Vasquez | 15 March, 2022

NFT’s: The evolution of Graphic Design and Digital Art.

NFTs signify authenticity, but the original work remains with the creators.

“What is art?”, an idea that has been discussed for centuries and a concept that many agree is subjective. People have their own distinctive opinion about what qualifies as a piece of art and what does not. One recent artistic development that has contributed to this ongoing discussion is digital art. Artistic or not, it has become the new way to create and also represent the correlation between technology and graphic design. The arrival of NFT’s has led the art industry to experience some interesting changes of late.

But what is an NFT? Better known as a non-fungible token, these digital files represent ownership and are mostly used for digital art and graphic design. NFTs signify authenticity, but the original work remains with the creators.

NFT designers create digital artworks which can be stored on file, allowing millions to own a copy of their favorite artist’s animation or 3D work. These images live on a blockchain and they can be sold at auctions for cryptocurrency. This emerging concept changes the traditional way to store art.

Many unknown creators have joined auction platforms, where potential buyers bid for the desired piece of art and the artist receives more exposure than they would through art dealers or intermediaries. What’s also impressive is the fact that the artists can decide if they want to auction several of the same piece whilst the copyright of their original work remains, unlike traditional art pieces owned by only one institution or person.

Popular marketplaces include OpenSea, Foundation, Axie Marketplace, and CryptoPunks. Not only does these platforms benefit potential art buyers but it also helps to decentralize the art industry, giving a chance to a diverse pool of different artists to enter and compete with the expensive art market.

This new trending technology is way more accessible; surely it is here to stay. It is giving art a place to change, to share, to explore different creators, and on top of that, it is giving many more artists a way to earn a living doing something they are passionate about.

While there will be many people who are wondering what all the fuss is about, there is much evidence to suggest NFTs are the way forward and we are seeing a huge shift in the way art is sold and therefore purchased. Next time you purchase a piece of art, will you go digital with an NFT or stick to that original painting?