To many, NFTs — Non-Fungible Tokens — took the world by storm in 2021.

But the truth is in fact far from this; NFTs first appeared way back in 2014. However, for the most part of the next 3 years, NFTs remained buried in obscurity. It wasn't until 2017 that the name resurfaced again, after the sudden popularity of CryptoPunks. CryptoPunks was created by John Watkinson and Matt Hall, and soon became the face of NFTs in various parts of the world. Even though the NFTs were initially offered for free, they would eventually sell for a total of over $11 million.

NFTs are crazy, the world realized, and in 2021, we were reminded again. Beeple, i.e. Mike Winkelmann made $69 million from the sale of a single NFT art, The First Days of 2021. This solidified the spot of NFTs in mainstream discussions, popular culture, and naturally the art community. Despite its immense popularity and buzz in the last year, artists still struggle to grasp its true meaning.

What is NFT ART?

Simply, NFTs are digital possessions; this suggests that they cannot be touched, or hung on a wall. They are digital assets that exist only on the internet; think of owning the Monalisa,  only that it is a png image — NFTs aren't just images, anyway.  

Similarly, NFTs are digital assets that exist only in the world of computers, the digital space.  How does one own something they can't touch? Or something that can be easily reproduced, modified, or used without permission? It boils down to original ownership really,  and sometimes a blatant display of wealth. 

Can my Art be an NFT too?

An NFT art could be anything ranging from photographs, paintings, memes, music, or articles. Its flexibility makes it a favourable market for all kinds of artists. This means that no matter what it is you do, you can turn your piece of art into an NFT. This is possible through a process called minting. Simply, minting is the basic art of turning your artwork into a token,  and listing it on a marketplace. 

What does this mean for Artists?

The first and easiest way to earn money through NFTs as artists is to sell to an interested buyer. All thanks to its popularity, a single NFT art could go for as high as a million dollars,  and low as $1,000. For several independent and growing artists, a thousand dollars is a  huge compensation for their skills.  

Furthermore, artists do not lose the copyrights and reproduction rights to the buyer. Instead,  they earn a certain royalty every time the art piece is sold to a new buyer.  

Also, NFTs offer artists a connection with an international audience, regardless of their background, or style. Naturally, it has also created a lucrative space for digital artists. 

How to get started with NFT ART

To get started, you don't need to have a blockchain degree from Udemy. But you do need to have a basic understanding of cryptocurrencies, especially one named Ethereum.  

For starters, the first step is to set up an Ethereum wallet. You could use Coinbase, Binance,  Trezor, and others. Afterward, you will need to connect your wallet to an NFT marketplace,  and as the name suggests, provides a digital market for the sale and purchase of NFTs.  

OpenSea, Larva Labs, Rarible are a few examples of leading marketplaces in the digital world of NFTs. After connecting with your Ethereum wallet, artists can list their art, no matter what digital form it exists in. Finally, bidding begins, and the art piece is sold to the highest bidder at the end of the auction.  

The future of NFTs is secure; it is no doubt going to be a major part of blockchain technology, which in turn is set for a revolutionary impact on technology. Since the sale of  The First 500 Days by Michael Winkelman for $69 million, and the sale of CryptoPunks for a  total of $11 million, a clear message has been sent to the crypto and art community: NFTs are here to stay.