Since their explosion last year, nonfungible tokens have shown their appeal to collectors, investors and traders alike.
Most participants began getting acquainted with NFTs through marketplaces such as OpenSea in the first half of 2021. “How we present our work has been largely dictated by the existing platforms, and as the space grows and evolves, it is imperative for us as artists to contribute new solutions and options for how we can better reach our audience while meeting the needs of the artists to showcase their work,” said Scheuttle.
Blockchain technology, through NFTs, has allowed artists to define their terms, given the nature of transactions occurring in the open that make the space more transparent.NFTs provide individual pieces of art with a supposed proof of provenance, which is appealing to many artists striving to take back full ownership of their work and expand their art to new audiences.Most of the challenges to enforcing copyright come from the NFT marketplace.
The current NFT space promotes the open flow of information and seeks to value the provenance of the content existing on the blockchain. Crypto artists certify and mint NFTs linked to the authenticity of the art created that can then be uploaded to various marketplaces to target potential buyers. Artists in the ecosystem have to keep their audiences engaged to remain relevant. By allowing people in the space to read the story, hear the words and understand the process, artists establish a vital emotional connection.
It's good when NFT offers artists some options, it will be useful for everyone!
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And how exactly you can prove intellectual property over art with NFT, lol?
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Blockchains can support provenance, but they can't single-handedly establish it. The owner of an artwork could still sell a fake + NFT and the original by itself. Likewise an artist could mint multiple NFTs for the same artwork. (physical digital gap) More research is needed.