How to Buy NFT art finance Easily & Safely in 2023

A lot of ways out there but nobody’s mentioned this before about How to Buy NFT art finance. Technology is rapidly changing our world and the way we perceive it. Buying art online or visiting virtual galleries is becoming more common. In fact, the obstacle we are facing is that art creators are betting on blockchain technology and NFT to continue their work. But what do these concepts mean? Next, we explain them to you.

Table of Contents

Introduction to Crypto Art

We believe you have heard of cryptocurrency (cryptocurrency) on more than one occasion. Bitcoin, Ethereum, and Ripple … just a few popular examples. These are purely digital currencies, and their value fluctuates in recent times.

Many consumers buy and sell this type of currency and manage it as an investment, but this money also allows you to use it in the real world as a currency exchange on some platforms. In fact, it is possible to buy digital art through them (crypto art). But let’s go through the sections:

Blockchain Technology

In a nutshell, blockchain is the technology that allows the exchange and transfer of these ‘coins’ completely securely. It is a ‘great ledger of accounts’ where every movement of these values is recorded in a decentralized and synchronized manner (all thanks to computers that operate 24/7 and which have various mathematical functions to guarantee security.) Perform encryption operations).

We already know what cryptocurrencies and blockchains are, but how does it affect art?

Crypto art, What is it?

Thanks to all these technological advances, culture and the art market have found a new way of financing thanks to NFT digital art.

Crypto art or NFT works are intangible assets. what is the meaning of this?

NFT stands for Non-Fungible Tokens.
They are intangible assets that cannot be exchanged.

These assets can be deposited or auctioned off.
Ethereum is the currency with which you can participate in NFT auctions.
In the end, it turns a piece (a painting, a gift, a song, a press article …) into something unique and extraordinary, unparalleled, and can only be achieved through bidding.

NFT crypto art, thanks to blockchain technology, ensures that an artist’s work is 100% original and even with a unique and special customization for the future patron.

Where to sell NFT art?

There are several online platforms that allow you to upload works and start auctions. One of the most popular is the Foundation where you can find a variety of works (gifs, photos, animations …).

In fact, there is a profile of personalities like Edward Snowden where he has auctioned off caricatures created through various press columns and his bid is worth more than 5 5.5 million.

On the other hand, nationally ground-breaking artists like Flippstick also have a profile on the platform where they perform their work ‘Homo-?’ Offer to bid on

This can be achieved by converting any work or document into NFT where we can also find newspaper articles from media like New York Times.

On the other hand, creating a profile on this platform is not very difficult; we just have to create and add a wallet with MetaMask. The most complicated part comes when it comes to building our NFT art, where we have to pay the so-called ‘gas commission,’ which is a “tax” for network congestion. This fee typically ranges between 50 and 100 euros, depending on the current NFT art trends.

The ‘hidden’ face of crypto art and blockchain

We would like to end this article which explains at least the beautiful part of everything related to cryptocurrency.

Blockchain technology uses a lot of energy to move crypto art.

The main reason for this is that making coins (through so-called forms) and keeping all the data in sync and secure on the ‘blockchains’ uses a lot of computers that have to work at the same time throughout the day. Year. This translates into a hefty energy expenditure in which it is still impossible to estimate the carbon footprint that this activity leaves on the environment.

Energy consumption is such that 340 KwH of energy is thought to be used in digital transactions via NFTs, producing 211 Kg of CO2. This is equivalent to the average monthly energy consumption of a European or using a laptop for 3 years or 2 hours flight.

Crypto Art and NFT, with current caution

Art experts are divided on whether the future of art will move towards this technical branch or whether they see NFTs as a bubble that could burst at any moment.

It is true that this is a very new technology nationally and there is a certain distrust around it, however, in markets like Asia or America, this transaction increases the value of the artists of the crypto art as well. ۔ We have a long way to go. Benefit. Only time will tell whether this is a momentary explosion or a wave of shock.

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Examples of digital art NFT.

Yeah Al that sounds pretty crap to me, Looks like BT ain’t for me either. I have succeeded. This is as clear as possible.

Every day: first 5,000 days

People artist Mike Winkleman spent 5 years creating his digital work “Everyday – The First 5000 Days”. This piece was sold and bought through cryptocurrencies last March for 69 million! A milestone for Christie’s auction house in London.

This piece is a 100% digital wall of various images that Beeple has collected in 5 years. A fully digital ‘file’ where auction participants (Asian, American buyers …) think it is a piece whose value will definitely increase in the future.

The first Twitter tweet

In digital art, we don’t just talk about paintings. It is also possible to convert tweets into NFTs and give them imperceptible value. Jack Dorsey, one of the co-founders of the social network Twitter, auctioned off the first tweet published on the platform.

The person who purchased it will receive a digital certificate of the tweet in addition to the signature of its creator. In turn, cryptographic technology verifies this content in its metadata to be the original tweet.

Crypto artist Javier Aris

In the US we have pioneers of crypto art like Javier Arias. A digital artist who at the age of 38 has managed to achieve high figures due to how this technology moves and develops.

The Granada-based artist paints large format drawings or animated gifs, which he has received major international acclaim (among others, a prominent GIF at the Media Live Festival at the Boulder Museum of Contemporary Art (BMOCA). Was an artist (Colorado-USA).

NFT Regulation

And as far as its regulations are concerned, South Korea’s Financial Services Commission (FSC) has just announced that it will not regulate NFTs because they are not considered digital assets, based on the fact that its decision They are not interchangeable and therefore, they are used more as deposits and not as payment methods. It is not too late for an immediate response to this decision, which has raised more concerns than the possibility of money laundering through NFTs, and this is in a country where taxation of corrupt assets will begin in 2023.

But the market for NFTs is growing, and so are the basic legal issues. And it seems that investors are turning to the so-called digital properties – similarly or more real estate – recognized by this certificate of ownership and authenticity. And we need to start defining its regulatory framework. Some of them (John Salmon, Non-Fungible Tokens: NFTs, and the silence of the EU legislator) have already taken a good look at the legal issues raised by them in the context of the current EU inactivity/parsimony.

To begin with, it will be necessary to determine the legal nature of NFTs, because, to begin with, it will be necessary to specify who owns the property on “what is legal” NFT.

NFT Digital Type

If you still don’t know the concept of Non-Fungible Token (NFT) then you are out of the world. What used to be a scam by some people is now being touted as a new form of investment that can bring huge economic benefits. Nowadays, it is difficult to understand this concept in the professional economic and legal world and not manage it.

NFTs are only described as a category of cryptographic tokens, encoded on a blockchain, which represents something unique and is therefore irreparable. These qualities have made NFTs a very attractive place for art collectors, who are paying millions of dollars for unique virtual works. But it’s not just the fate of NFTs.

We briefly highlight the 5 types / token usage of this model:

The development of NFTs has allowed crypto art to emerge, as well as revitalize the digital collection market as a masterpiece of art and as a series. It can be said that these two use cases are currently the most advanced because, due to their own characteristics, NFTs are the ideal model for this sector: counterfeiting and re-valuation due to token uniqueness Eliminate (unique virtual work or digital combination).

NFTs have exploded in the music world in two ways: on the one hand, the digitized sale of tracks (as if it were special vanilla of the analog era) or the digital trade, and on the other, democratizing the financing of inaugural musical campaigns. Combined with NFTs and decentralization through blockchain technology, the crowd-sourced funding model can revolutionize the way music is created and funded, without intermediaries in the promotion.
NFTs such as “proof of ownership” or certificates of ownership. NFT proves that you own something and that anything in the world can happen, real or digital. This feature makes NFTs an ideal tool for the detection and logistics of anything that is special and unique. As a result, this feature allows you to verify, for example, tickets to sporting events or very special events.
The growing potential for NFTs to win in video games (?), As the accessories that players can afford are expanding, has created an ecosystem of micro-transactions that currently amounts to billions of dollars. Is. However, this traditional gaming world is so deeply ingrained in society that it seems to be resisting the inclusion of corrupt currencies, blockchain technology, and NFTs in the current ecosystem, with humor prevailing rather than speculation. Is. So far

Utility NFTs are considered a subcategory within NFTs, which is characterized by the fact that they are used continuously, as they are obtained to provide any utility other than storage or storage. The benefits range from attending a popular singer’s digital concert and interacting with the fan community to voting on a brand’s key decisions.

This token universe is logically attached to or attached to the Metaverse (“it’s intent”). As a parallel virtual world, Metaverse already exists for some people, although strictly speaking Metaverse is not a video game, it is too much. Now, it is known as a Metaverse, for example, Decentraland, a decentralized 3D virtual reality Ethereum platform containing 90,601 parcels of land, virtual goods NFTs that can be purchased with MANA cryptocurrency.

Blockchain & Decentralend

In short, NFT is a package of information or data stored in Blockchain and Decentraland with its LAN tokens that allow its users to access digital plots of land or parcels. And not only that, but it also allows them to do business within Metaverse, from building buildings and renting out their digital properties to organizing parties and events.

And increasingly, we hear that companies and services with their NFTs are present in this metaverse idea, from the British auction house Sotheby’s to the Barbados Ministry of Foreign Affairs and Foreign Trade Have signed an agreement with The digital embassy that will become the first country in the world to recognize it as a digital sovereign land.

With this growing market for NFTs, all sorts of ideas are emerging, from those who fear the bubble of potential speculation (Julian Pipolo, NFTs and the law: what I really own). ?) And the resulting economic losses, to these people. 6.1 Million Transactions on Most NFTs (Matthieu Nadini, Laura Alessandretti, Flavio Di Giacinto, Mauro Martino, Luca Maria Aiello, Andrea Baronchelli, Mapping the NFT Revolution: Market Trends, Trade Networks, and Visual Features) After analyzing the data, between June 23, 2017, and April 27, 2021, 4.7 million NFTs were obtained, mainly from Ethereum and WAX blockchains.