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RISE OF NFT IN 2021 PAVING THE WAY FOR EPIC GROWTH

RISE OF NFT IN 2021 PAVING THE WAY FOR EPIC GROWTH
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Over the past few months, non-fungible tokens, or the NFTs, have burst into the mainstream, expanding and challenging our collective understanding of ownership. But what are they? In this article, we provide a brief introduction to NFTs, a roundup of 2021 and why we believe they are paving the way for strong growth in years to come.   

WHAT IS AN NFT? WHAT DOES IT STAND FOR? HOW DO THEY WORK?

Non-fungible, meaning they cannot be exchanged and hold a unique representation. The term ‘Token’ refers to unit of value that is stored on a secure distributed ledger called a blockchain. Essentially, an NFT is a digital asset that is a publicly verifiable intellectual property authenticated on a blockchain, mainly on Ethereum, which further can record all the transactions (namely the provenance) on the ledger in a tamper-proof manner. The asset can be physical & tangible or digital & intangible and can record the ownership of art, image, video, video game skin, trademark, cryptokitty and much more. 

HOW TO DETERMINE THE VALUE OF AN NFT?

The value of an NFT is what the market says it is—which means what someone is willing to pay to own the NFT vs. its copy. Several factors gauge the NFTs' worth such as rarity, utility and tangibility. The value of an NFT also differs for short- or long-term holding, depending on the asset the NFT represents. Before investing on NFT’s it is often a good practice to research more about the creator, rarity and the long term view, similar to any asset investment.

NFTs ARE JUST GETTING STARTED

Though the NFTs have been around since 2014, they have roared in popularity only in 2021. They are still in the very first stages just like the iPhone was in its first year. The simple iPhone applications of that time have now moved to the Ubers of the world, the scanner, a portal to the new world experience of augmented reality, earthquake early warning system, a healthcare partner in our pocket and more. The NFT minefield is likely to take a similar curve and be a formative business model catalyst not only in the crypto space but extending to all sorts of industries and niches.  

Their popularity took off in March this year when a British auction house - Christie’s sold an NFT of “Everydays—The First 5,000 Days”, a work of art by Mike Winkelmann for a whopping $69m. NFT art sales have hit $3.5B this year so far and the total sales volume surged to $10.7B as this asset frenzy hit a new high.

SO NFT IS NOT ONLY FOR DIGITAL ART?

That’s right. Many associate NFT with digital art, but this ecosystem is not only limited to that. They can actually be used to authenticate and auction any kind of collectible. There have been a growing number of marketplaces dedicated to assets that have emerged this year. A large number of celebrities, brands and sporting organizations are now fuelling awareness.  

Indian celebrities from the world of Bollywood and cricket are launching digital memorabilia through NFT, hoping to rake in hundreds of thousands of dollars by cashing in on growing interest in such assets. Bollywood superstars Amitabh Bachhan, Kamal Haasan, Salman Khan are testing waters. The CEO of Coinbase “Brian Armstrong'' stated that he believes that the new NFT marketplace could be bigger than its cryptocurrency business. An example of NFTs bringing more programmability to tangible assets is the luxury jewelry brand Asprey that recently announced that it would be utilizing NFTs tied to each of its jewelry pieces to solve the problem of liquidity and difficulty in confirming authenticity. Each of its jewelry will now come with an NFT.

WHAT’S AHEAD

We believe that 2022 will be a breakout year for NFTs. Millennials, and Gen Zs, have digital lives and it’s natural to want to take digital representations into their worlds. They are here to stay, dominate and slay. There is much more to come with their use in the metaverse and in the Ethereum Naming Service (ENS). So much of the world is yet to discover them. Disney, one of the largest media conglomerates in the world, has just begun it’s journey with NFTs this month. Athletes have barely discovered it. So many companies outside of crypto are only now beginning to realize that they have thousands of assets that can be traded as NFTs.  

It is almost a blank canvas that is ready to break out. How big can it get and what next? The speculation is that at the current pace it could be a 100 Billion market in 2022, that is next year! We are bullish on the possibilities it offers and its place in the future. Are you?

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Five Ways to integrate NFTs with physical products. Going Phygital.

Five Ways to integrate NFTs with physical products. Going Phygital.

To succeed in business, one must always look for methods to improve one's offerings and differentiate themselves from rivals. Non-fungible tokens (NFTs) are a relatively new method for accomplishing this. You can include tokens like these in a company's tangible goods and services to provide customers access to features they wouldn't get with more conventional offerings. This article will discuss five ways companies can improve sales and differentiate themselves by using NFTs with traditional products. It is referred to as "Phygital" as they combine both online and offline features. What is an NFT, and How it functions? Non-fungible Tokens (NFTs) are blockchain-based digital assets with the added functionality of smart contracts. NFTs are unique and cannot be exchanged for another token, unlike conventional cryptocurrencies (which also operate on blockchain technology). When an NFT is created, it is assigned a one-of-a-kind ID that no one cannot modify once it has been recorded in the blockchain. Five ways to integrate NFTs with physical products. 1. Gain customer trust by offering transparency. The widespread availability of data has only increased consumers' appetite for additional insights. As a result, consumers will do their homework on various brands and items before making a purchase. Because of this, companies need to be more open than ever to win and keep customers' confidence. 93% of consumers feel confident in a business is critical to continuing to be devoted to the brand, according to data from recent research. Customers will have an easier time verifying product authenticity and gaining insight into your supply chain if NFTs are embedded into your items. In addition, NFTs can provide an essential degree of credibility that can build faith in your consumers because the data is stored in the token and therefore is secured due to the decentralization of the blockchain. 2. Safeguard brand image by utilizing NFT. Both mainstream consumer and premium brands are frequently targeted by counterfeiters, damaging their reputation and sales. Including a certificate of authenticity can be advantageous for high-value items, limited edition products, and collectibles, although even these can be faked to some extent. In other words, using NFTs does away with the requirement of a reliable third party to verify transactions. It is made possible because the data regarding the possession and replicability of the fundamental asset is stored on a public blockchain and can be accessed by anyone. Therefore, before making a purchase, customers can use them as self-authenticating certificates of authenticity, which means they can serve the same purpose as the originals. 3. Easily trace each product. With NFTs, you may provide a distinct digital identifier to each of your items through a process called serialization. Like any product code, you may use this one to access the corresponding data on the blockchain. Because of this, it is more secure and efficient than alternative methods, such as secret registration number databases. Moreover, every newly minted physical thing is recorded separately from the rest. For this reason, the blockchain process will also document each object's previous owners and whether or not they resold it. 4. NFT can facilitate remanufacturing and reverse supply to improve waste disposal. There is more to the production management puzzle that NFTs can assist solve than simply making things traceable so that both you and your customers know where they went. They can also include vital information about adequately disposing of each item to reduce its environmental impact, bringing the user deeper into the product's life cycle. 5. Increase income from royalties. People buy mass-produced goods for a few cents becoming priceless relics for collectors years later. The thought of sharing in that success excites you because you were the one who first made it. If you create a new token (NFT) for the product and include royalty fees into the smart contract, you can. It will allow you to earn more money if your items are exchanged on supported exchanges. Conclusion NFTs provide numerous advantages for companies that include them in their existing physical offerings. The capacity to embed royalty payments into each product, enhanced openness that can develop customer confidence and the potential to use NFTs as assurances of validity are just a few examples. Each of these advantages contributes in its particular way to the success of your company. In addition, they provide a richer set of resources for companies to protect their products and brand image just like RtistiQ. Check out our website at art.rtistiq.com to learn more.

Three things you can do with your Digital NFT Art collection

Three things you can do with your Digital NFT Art collection

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Sending Help to Ukrainian Artists In This Hour of Maximum Need  Through A Charity NFT Art Auction

Sending Help to Ukrainian Artists In This Hour of Maximum Need Through A Charity NFT Art Auction

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ART MARKET

The Evolution of Landscape or Scenery Painting: A Journey Through Different Periods

Scenery painting, particularly landscape painting, has been a cherished art form for centuries. It offers a window into the natural world, showcasing the evolution of artistic styles, techniques, and mediums across different historical periods. This article takes you on a journey through time, exploring the development of scenery painting and the major creators who left their indelible marks on this genre. From the early depictions of the natural world to modern interpretations, the evolution of scenery painting reveals not only artistic innovation but also the shifting perceptions of nature and its significance in the human experience. Prehistoric and Ancient Art: The Birth of Scenery Painting The earliest examples of scenery painting can be traced back to prehistoric times. These paintings, often found in caves, depict scenes of the natural world inhabited by early humans. 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The Ultimate Guide to Finding the Perfect Art Wall Paintings for Sale

ART MARKET

The Ultimate Guide to Finding the Perfect Art Wall Paintings for Sale

Are you searching for the perfect art wall paintings to elevate your home decor? Look no further! Our ultimate guide has everything you need to know to find that one-of-a-kind masterpiece that will add a touch of sophistication to your living space. We understand that choosing the right wall painting can feel overwhelming with the plethora of options available in the market. That's why we've curated this comprehensive guide to simplify your decision-making process. From understanding different painting styles to selecting the right size and color scheme, our guide covers it all. We'll even walk you through the process of determining your personal taste and aligning it with the atmosphere you want to create in your home. Whether you're a seasoned art enthusiast or a first-time buyer, this guide is designed to help you find the perfect art wall paintings that resonate with your personality. 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Landscape paintings can create a sense of tranquility and bring the beauty of the outdoors into your home. Another popular genre is portrait painting. Portraits capture the likeness and personality of a person, making them a great choice for adding a personal touch to your space. Whether you opt for a classic portrait or a contemporary interpretation, these paintings can make a bold statement and become a focal point in any room. Factors to consider when choosing art wall paintings Choosing the perfect art wall painting involves considering several factors that will help you make an informed decision. By taking these factors into account, you can ensure that the painting you choose not only fits your personal taste but also complements your existing decor. One of the first things to consider is the size of the painting. The size of the artwork should be proportional to the wall it will be displayed on. A large painting on a small wall can overwhelm the space, while a small painting on a large wall may get lost and fail to make an impact. Take measurements of your wall and consider the scale of the room to determine the appropriate size for your painting. Another important factor is the color scheme of the painting. The colors should harmonize with the overall color palette of the room. Consider the dominant colors in your decor and look for paintings that incorporate similar hues. This will help create a cohesive and visually pleasing environment. The subject matter of the painting is also a crucial consideration. Think about the atmosphere you want to create in the room. Do you want a serene and calming space? In that case, landscape or abstract paintings may be a good choice. If you want to make a bold statement or showcase your personality, consider opting for a painting with a strong subject or vibrant colors. Lastly, don't forget to consider your personal taste and emotional connection to the artwork. Art is subjective, and what resonates with one person may not resonate with another. Choose a painting that speaks to you on a deeper level, evokes emotions, and reflects your unique style and personality. Where to find art wall paintings for sale Now that you have a clear idea of the type of art wall painting you're looking for, it's time to explore the various avenues where you can find them for sale. From online marketplaces to art galleries and local artists, each option offers its own advantages and unique selection of artwork. Online marketplaces have become a popular destination for art buyers. Websites like RtistiQ, Saatchi Art, and Artsy connect artists with buyers from all over the world. These platforms offer a wide range of art wall paintings in different styles, sizes, and price ranges. They often have search filters that allow you to narrow down your options based on your preferences, making it easier to find the perfect piece. Art galleries and exhibitions are another great place to find art wall paintings. Visiting galleries allows you to see the artwork in person and get a better sense of its size, texture, and overall impact. Many galleries also represent emerging artists, giving you the opportunity to discover unique and undiscovered talent. If you're looking for something truly one-of-a-kind, consider reaching out to local artists or independent sellers. Many artists have their own websites or social media platforms where they showcase and sell their work. Buying directly from the artist not only supports their creative journey but also allows you to establish a personal connection and learn more about the inspiration behind the painting. No matter where you choose to buy your art wall painting, it's important to do your research and ensure that the seller is reputable. Read reviews, check their return policy, and ask any questions you may have before making a purchase. Investing in art is a personal experience, and finding the right seller can make all the difference. Tips for selecting the perfect art wall painting Now that you know where to find art wall paintings, let's delve into some expert tips for selecting the perfect piece that will enhance your home decor and bring joy to your space. Research and Explore: Take the time to research different artists, styles, and genres. Look for inspiration in magazines, art blogs, and social media platforms. Visit museums and galleries to get a better understanding of what resonates with you. Consider the Space: Before making a purchase, visualize how the painting will fit into your space. Consider the lighting, furniture arrangement, and overall ambiance of the room. Take into account the size, color, and subject matter of the painting to ensure it complements the space. Set a Budget: Art wall paintings can vary greatly in price, so it's important to set a budget before you start your search. Determine how much you're willing to spend and stick to it. Remember that art is an investment, and finding a piece you love within your budget is possible. Ask for Expert Advice: If you're unsure about the technical aspects of a painting or need guidance in making a decision, don't hesitate to seek expert advice. Consult with art consultants, interior designers, or even the artists themselves. They can offer valuable insights and help you make an informed choice. Trust Your Instincts: Ultimately, trust your instincts and choose a painting that speaks to you. Art is meant to evoke emotions and create a personal connection. If a painting resonates with you on an emotional level and brings you joy, it's likely the perfect choice for your home. By following these tips, you can navigate the world of art wall paintings with confidence and find the perfect piece that will enhance your living space for years to come. Conclusion Finding the perfect art wall painting may seem like a daunting task, but with the right knowledge and guidance, it can be an enjoyable and rewarding experience. By understanding different painting styles, considering important factors such as size and color scheme, and exploring various avenues for purchasing art, you can find a piece that truly reflects your personality and elevates your home decor. Remember that art is subjective, and what matters most is finding a painting that resonates with you on a deeper level. Trust your instincts, explore different options, and take the time to appreciate the beauty and creativity that art wall paintings bring to your living space. So, start your journey today! Transform your walls into a mesmerizing art gallery and create a space that not only inspires but also reflects your unique style and personality. Happy art hunting!

Unveiling Limited Edition Prints: Are They Worth Collecting?

ART MARKET

Unveiling Limited Edition Prints: Are They Worth Collecting?

In the world of art, limited edition prints have garnered significant attention and debate over their value and worth. These prints, often produced by artists in limited quantities, have become popular for art enthusiasts to own a piece of their favourite works without breaking the bank. However, the question remains: are limited edition prints worth anything as an investment and a source of aesthetic pleasure? The reality is that Prints can be just as valuable as any other artwork created and have exceeded value in millions for some rare works by master artists. The Frugal Repast (Le Repas frugal), an etching by Pablo Picasso part of the La Suite des saltimbanques series created in 1904, is considered the first significant attempt by the artist in Printmaking, sold for GBP 6,014,500, in the year 2022 at christies. This article delves into the various facets of limited edition prints, exploring their history, factors affecting their value, and whether they hold lasting significance in the art market. The History of Limited Edition Prints Limited edition prints trace their origins back to the earliest forms of printmaking. Printmaking, as a technique, dates back to ancient civilizations such as the Egyptians and Chinese. However, producing prints in limited quantities gained traction during the Renaissance period in Europe. Artists like Albrecht Dürer and Rembrandt created engravings and etchings that were not only artistic masterpieces but also showed a shift in how art could be produced and distributed. Fast-forward to the 20th century, and limited edition prints began gaining prominence. Artists like Pablo Picasso, Salvador Dalí, and Andy Warhol embraced printmaking to make their art accessible to a broader audience. The Indian Master Raja Ravi Varma, gained large scale prominence due to lithographic prints, specifically of Gods and Godesses that he paiinted. The ability to reproduce artworks precisely and at a lower cost than original paintings made prints an attractive medium for artists and collectors. Factors Affecting the Value of Limited Edition Prints A complex interplay of factors influences the value of limited-edition prints. Here are some key aspects that contribute to their worth: Edition Size: One of the defining features of limited edition prints is the restricted number of copies produced. Generally, the smaller the edition size, the higher the perceived value. A print from an edition of 10 will likely hold more value than one from 100. Artist's Reputation: The artist's reputation plays a significant role in determining the value of their limited edition prints. Prints by renowned artists with established careers are more likely to appreciate value over time. Authenticity and Provenance: Authenticity is crucial in the art market. Limited edition prints with proper documentation and provenance are more valuable as they assure buyers of the artwork's legitimacy. Condition: The condition of the print also impacts its value. Well-preserved prints, without damage or discolouration, tend to command higher prices. Rarity: While the term "limited edition" implies rarity, some prints within an edition might be more sought after due to factors such as variations in colour or unique characteristics. Subject Matter: The subject of the print and its relevance to the artist's body of work can affect its value. Prints featuring iconic motifs or themes closely associated with the artist will likely be more valuable. Artistic Technique: The printmaking technique used can influence value. Specific techniques like etching, lithography, and serigraphy (silkscreen printing) require intricate skills and can add to the appeal and value of the print. Market Demand: Market trends and demand play a significant role in determining the value of limited edition prints. If a particular artist's work becomes fashionable or is featured in exhibitions, it can increase demand and higher prices. Limited Edition Prints as Investments Limited edition prints have often been seen as a way for collectors to invest in art without the hefty price tag of an original painting. However, the investment potential of these prints is a subject of debate. While some limited edition prints by highly regarded artists have appreciated significantly in value over time, not all prints yield substantial returns. The art market can be unpredictable, and factors such as shifts in artistic taste, economic conditions, and changes in the artist's popularity can impact the investment value of prints. Investing in limited edition prints requires careful research and consideration. It's essential to research the artist's career trajectory, study market trends, and consult experts before purchasing with the expectation of financial gain. Like any investment, risks are involved, and it's important not to rely solely on limited edition prints as a means of financial growth. Aesthetic Value and Enjoyment Beyond the realm of investment, limited edition prints hold intrinsic value in terms of aesthetics and personal enjoyment. Owning a limited edition print allows art enthusiasts to experience the beauty and creativity of an artist's work firsthand. These prints can serve as entry points into an artist's larger body of work, allowing viewers to connect with their artistic vision and style. Limited edition prints also allow individuals to decorate their living or working spaces with art that resonates with them. The affordability of prints compared to original artworks makes it possible for a broader range of people to own pieces that align with their artistic preferences. The Changing Landscape with Digital Art Digital technology has introduced a new dimension to the world of limited edition prints through the emergence of digital art and NFTs (Non-Fungible Tokens). NFTs allow digital artists to create limited edition digital artworks that are unique, provably authentic, and can be bought, sold, and owned on blockchain platforms. This raises questions about the value of traditional limited-edition prints in a world where digital art is gaining prominence. While digital art and NFTs have their own merits and challenges, traditional limited-edition prints continue to hold their place in the art market. The tactile quality of a physical print, the historical significance of printmaking techniques, and the enduring appeal of owning a tangible piece of art contribute to the lasting value of traditional limited edition prints. In Conclusion Whether limited edition prints are worth anything encompasses a multifaceted discussion. While these prints may not always yield substantial financial returns as investments, their value extends far beyond monetary considerations. Limited edition prints allow art enthusiasts to engage with the creative output of talented artists, enriching their lives aesthetically and emotionally. As the art market continues to evolve, limited edition prints remain an accessible and valuable means of connecting with art. Whether cherished for their aesthetic allure or sought after as collectibles, these prints are a testament to the enduring power of art to inspire, provoke, and delight.

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