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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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RtistiQ

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NFTs have become extremely popular in a short period of time. Crypto enthusiasts and collectors are looking for opportunities to hold the rare immutable NFT assets. But many crypto newcomers don’t quite know what to do with NFTs after they buy them and it is sitting in their crypto wallet.

This article aims to explain the popular uses of Art NFTs that you might have bought on our platform RtistiQ. There are many different types of NFTs and what you can do with an NFT is largely determined by the type of asset you have purchased.

Essentially a non-fungible token, or NFT is a form of digital asset that is unique and uses blockchain to record its ownership status. NFTs can only have one official owner at a time, and if you have purchased an artwork on RtistiQ, you are the lucky one to own it. This token is now secured by the blockchain - no one can modify the record of ownership or copy & paste a new NFT into existence.

So does it come with copyright transfer too? No, an NFT is not to be confused with copyright – an NFT gives you a proof of ownership. There is no copyright transfer, unless explicitly mentioned. You get ownership of the artwork, with the licensing terms encoded as metadata. Some creators will let you use your copy only for personal use, while others might permit commercial uses. The ownership of the unique token has been transferred to your wallet via your public address, proving that your copy of the digital file is the original one. Your private key is the proof-of-ownership, and the content creator’s public key serves as a certificate of authenticity for that particular digital asset.

So what to do with the NFTs now that you have bought them? Depends how you want to be involved, but you have the following three main options.

  1. Hold your ‘Collectible’ and add it to your collection

Art NFTs are great ‘collectibles’. Just like paintings that you display in your home are unique pieces of art without any copies, an art NFT is a digital form that is unique. You can enrich your visual experience with it and it can gain value over time. This makes them potentially a great investment. The more rare NFTs you have in your collection, the more exclusive it becomes.

2. Display the NFT in a digital or physical gallery, or in the Metaverse

NFTs provide intrinsic and social status value which can be showcased in

  • NFT displays and video frames.
  • NFT display apps on iPhones and tablets.
  • Inside the metaverses – Decentraland, Cryptovoxels, etc.
  • On the wall - printed and framed (if the contract permits).

An NFT Display is a unique and snazzy way to display your asset with a certificate of ownership alongside it.

  • An NFT display is connected to your wallet, to prove ownership of your NFT.
  • It offers high quality visual and audio output, and comes with aesthetic frames and swivel mounts, and state-of-the-art features like gesture and voice controls
  • Netgear’s Meural Canvas II, Canvia – Digital Art Canvas, BlockFrame NFT – Digital NFT Display Frame, Samsung – The Frame, Lago – The Frame and Blackdove Digital Canvas are a few of the trending options.

3. List your NFT for sale in a secondary marketplace and resell

You could resell your NFT to try and turn a profit when the time is right. You have full right to list your NFT for sale on an NFT marketplace such as OpenSea, Rarible, Nifty Gateway, Larva Lab, Axie Infinity, SuperRare and more. Once you complete your listing on the marketplace, your NFT will be available for purchase on it. You can promote the sale to potential patrons via your website or social media channels. Do note that there are associated gas fees that might be incurred in case of making changes or removing your listing. Some creators may demand a royalty every time someone resells the piece. In that case royalties are built into the NFTs.

In the near future, RtistiQ expects the infrastructure that supports NFTs to catch up even more and there will be further use cases for the emerging technology. Facebook renamed themselves to Meta last year, Microsoft joined the metaverse hosting immersive meetings with avatars…and many other companies are joining the boom. With the NFT ecosystem growing, it looks like NFTs are here to stay, dominate and slay.

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ART MARKET

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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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