Cryptocurrencies have not only forced us to rethink the concept of money and finance, but it has also given rise to a new artistic niche known as crypto art.
Strangely, crypto art actually has two different definitions – depending on who you ask.
Some would describe it as being either crypto-themed artwork or works of art that focus on the politics, philosophy, or culture of cryptocurrency and blockchain technology.
On the other hand, crypto art is defined as digital artwork that has been uploaded directly onto the blockchain in the form of a non-fungible token (NFT).
Thus, making it possible to verify the ownership, transfer, and sale of said digital artwork.
Why are NFTs becoming so valuable?
Last we checked; Leonardo Da Vinci’s ‘Mona Lisa’ was valued at more than $850 million.
Meanwhile in 2019, Claude Monet’s ‘Meule’ transacted at a cool $110 million.
So why is it that you can buy prints of these paintings at just a fraction of the cost when the real deal costs more than 300 Ferraris?
The answer is authenticity.
And this is why digital art hasn’t caught on. Until now.
Prior to NFTs digital art could be endlessly copied and transferred from one person to another without it being possible to determine ownership or authenticity.
But thanks to the power of the blockchain, this is no longer the case.
Now thanks to NFTs, art collectors will be able to own the actual “original” version of a piece of digital art.
This has introduced the concept of “ownership” to digital works of art and collectors all over the world are going crazy for it.
For example, Beeple’s ‘Everydays: The First 5000 Days’ was sold at auction by Christie’s for a stunning $69 million in 2021.
And that’s not the only NFT that’s been sold for millions this year.
An NFT of the beloved ‘Doge’ meme transacted at a “reasonable” $4 million in June 2021.
With so much money being thrown around, many have questioned the sustainability of the market citing fears of a bubble.
So, the question on everyone’s mind is…
Are NFTs a worthwhile investment?
The answer is definitely yes.
NFTs have severely disrupted the artworld and made the concept of “digital ownership” possible. This has inspired a new artistic movement and opened up a whole new world of possibilities.
And with the world moving towards digitalization, who’s to say that the art galleries of the future won’t be entirely virtual. Hence making NFTs possibly even more valuable in the days to come.
Best apps to buy crypto art
SuperRare is a curated marketplace that brings together gorgeous NFTs from a diverse community of creators. From still images and gifs to photographs and videos, SuperRare has it all.
A lot of the art pieces on SuperRare are by new and upcoming artists looking to make it. So if you’re in the market for something fresh, SuperRare is definitely the site to go for.
Even if you’re not shopping, the site’s special exhibit collection is sure to offer up something interesting every single time.
Described as “the world’s largest NFT marketplace”, OpenSea offers a huge variety of different NFTs for the discerning buyer.
This includes art, virtual real estate, music, and trading cards just to name a few. Where other sites focus on art based NFTs, OpenSea has it all.
And if you’re new to NFTs, the site has plenty of resources to guide you through including an active community and blog articles.
A place for creators and collectors alike, Rarible lets you collect NFTs and mint your own tokens and list them on the site.
Bid on your favourite NFTs or follow your favourite artists on a single site.
As an added plus, Rarible also comes with OpenSea integration, so you’ll be able to also view and sell your items on OpenSea and Rarible.
Foundation is a community-focused auction platform that aims to build up a creative economy based on the Ethereum blockchain.
On Foundation, you’ll be able to bid for NFTs, display them in your own gallery, or sell them on the secondary market.
Creators are brought in on an invite-only basis from existing community members – which ensures the quality of items being displayed on the site.
Hong Kong-based Crypto.com started out as a cryptocurrency exchange before branching out into the world of NFTs.
Despite being a newcomer to the world of NFTs, Crypto.com has already secured partnerships with creators like the Aston Martin Cognizant F1 Team and UFC.
And so, there you have it, a selection of the best sites where you can buy crypto art. But remember crypto and NFT markets can be highly volatile which is why risk management is a must.
Find some other marketplaces to buy crypto art here: blog.tezro.com/top-crypto-art-marketplaces-platforms/