NFT on Artlimes

Artlimes helps artists, galleries and collectors to understand every aspect of this technology, and accompany them throughout the whole process of selling and buying NFT art.

Artists are able to learn and share their art reaching even a greater public, as well as gain a financial return in a secured way, while being free to set the price and number of editions for their artworks.

Collectors on the other hand are able to buy art and trade it without worrying about authenticity issues and the crypto jargon barrier, while learning more about this technology little by little.

By helping to expose artworks to this new digital art market, Artlimes creates a network in which talent and passion for art is securely shared and empowered.

What is NFT Certification

Non-fungible tokens (NFTs) are electronic identifiers that verify the existence and the ownership of a digital or hard collectible. The technology has been around since at least 2012 and comes as an offshoot of the boom in cryptocurrencies, which also run on the blockchain.

NFTs are helping solve problems that have long been central to digital art: how do you claim ownership of something that can be easily and endlessly duplicated?

Digital certificates for intellectual property are stored on the blockchain.

Each item is linked to a NFT that has a unique value and cannot be exchanged with any other asset.

Since NFT uses the blockchain technology that provides a transparent record of every transaction made, artists and collectors can now sell and trade their artworks without worrying about ownership issues.

NFTs benefits

NFTs have gathered a new wave of artists, allowing them to make money for work that is usually only rewarded with likes and comments. Buyers and collectors can now support artists and perhaps in the future, the value of their NFT will increase, allowing room for profit.

One of the obvious benefits of buying art is it lets you financially support artists you like, and that's true with NFTs (which are way trendier than, like, Telegram stickers). Buying an NFT also usually gets you some basic usage rights, like being able to post the image online or set it as your profile picture. Plus, of course, there are bragging rights that you own the art, with a blockchain entry to back it up.

How NFTs work

NFTs are digital certificates that authenticate a claim of ownership to an asset, and allow it to be transferred or sold.

The certificates are secured with blockchain technology similar to what underpins Bitcoin and other cryptocurrencies.

A blockchain is a decentralised alternative to a central database.

Blockchains usually store information in encrypted form across a peer-to-peer network, which makes them very difficult to hack or tamper with.

This in turn makes them useful for keeping important records.

What is an authentic original digital copy?

Online, it's hard to say what authenticity and ownership really mean. Internet culture and the internet itself have been driven by copying, pasting and remixing to engender new forms of authentic creative work.

At a technical level, the internet is precisely a system for efficiently and openly taking a string of ones and zeroes from this computer and making them accessible on that computer, somewhere else.

Are NFTs different enough to break the internet?

The real function of NFTs is to create a clear delineation between ordinary creators and consumers of online content and those privileged enough to be paid to produce content or claim to own "authentic" work. The internet decentralised content creation, but NFTs are trying to decentralise the distribution of culture.

NFTs facilitate the exchange of fungible money for non-fungible authenticity.

It's a well-known move that occurs in all sorts of industries, and one with a long history in, well, art history.

Can NFTs be copied?

You can copy a digital file as many times as you want, including the art that's included with an NFT. But NFTs are designed to give you something that can't be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork).

Why do people buy NFT?

People are motivated to buy NFTs because it provides a unique connection to the creator that does not exist with any other art form. Crypto art has also spawned entire communities online.

Collectors

Looking at the history of collectors that have owned a token can give future collectors some insight as to it's perceived value. Some collectors may want a token simply because at one point it was in a collection belonging to a collector that they admire.

Much like how an artist controls the supply of the tokens, so do their collectors. Simply stated, it would be disastrous, in terms of the value of their tokens, if collectors start dumping a particular artist's tokens en masse.

While this is an extreme example, most collectors eventually will sell their tokens. Every work listed for sale decreases the perceived rarity of the artists remaining tokens.

Collectors might like to know that an artist whose works they are looking to collect sits comfortably in the wallets of collectors who are not selling anytime soon.

NFTs can work like any other speculative asset, where you buy it and hope that the value of it goes up one day, so you can sell it for a profit.

Token's Content

Finally we get to what the token actually looks, sounds and feels like. Some tokens are just so moving that they can elicit a powerful emotional response from fans and collectors. There are a handful of tokens that I simply cannot experience without being brought to tears.

One thing collectors may consider is that technology has made the creation process easier and cheaper than ever. While artists can spend months working on and rendering a single token, that is the exception rather than the rule, and it's simply easier to create something breathtaking today, then it was a thousand, or even just ten years ago.

The content of the token is very important for attracting collectors, who are each collecting according to their own taste. A token whose content stuns can provide that last gentle nudge collectors need to get them over the finish line and place a bid, but as unromantic as it sounds, this is just one of many factors for collectors as they assess a token's value, and ultimately strike.