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Bitcoin art marketBlockchain and Art: The Market is Here and What You Need to Know
It works like this:. The token transactions are stored publicly, so you, as a buyer, can easily track the entire history of ownership back to the artist. You can use this process for physical pieces of art as well as digital works.
Because digital works are easily reproducible, associating them with tokens preserves their rarity which, in turn, retains their value. As with most industries, the blockchain art market is best at making middlemen obsolete.
Decentralized art galleries are popping up left and right giving most if not all of sale proceeds to the artists. Because the cards are on the blockchain, you, as an artist, can choose exactly how many you want to sell. This opens up a whole new world of monetization for digital artists. Even with physical works of art, galleries are using blockchain.
Maecenas is a decentralized platform that democratizes fine art. Additionally, to finance new pieces, galleries are able to list their artwork to Maecenas users at a fraction of the cost of what an auctioneer or loan would cost them.
Even in this young industry, there are still plenty of ways to get involved and stretch your creative muscles. Who knows? You could just become the first meme-making millionaire.
This article is still…. Steven Buchko. Current Scarab Experiment Artwork. Newsletter Sidebar. This field is for validation purposes and should be left unchanged. December 20, Alex Moskov. Read More. Artist David Kim was among those fascinated with the drama surrounding D. This painting captures the hectic scene of Nakamoto wading his way through a sea of photographers on his way to clear his name in an exclusive interview with the Associated Press.
Who says bitcoiners are always hunched over their computer screens? Daniel Cawrey, CoinDesk. Read more about Lifestyle Features.
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