What are NFTs and why are they shaking up the art world? NFTs are non-fungible tokens of digital content linked to the blockchain, with their best known form being digital art. All someone needs to purchase NFTs on a crypto wallet on an NFT marketplace, with cryptocurrency to buy the NFTs. NFTs are non-fungible, so unlike fungible assets (like Bitcoin) they are unique and not mutually exchangeable. No two NFTs are the same, and once you own an NFT you are the sole owner. Forever. That is, unless you sell it or give it away.
This is where the appeal of NFTs lies for digital art. Only you can own that specific piece of art. No two pieces of NFT digital arts are the same. The fact that it is backed on the blockchain also means that it’s highly secure. No one can steal it from you, or randomly come and punch a hole in it. Like the guy in 2012 who punched a $10m Monet painting (he was sentenced to five years in prison, by the way).
Jokes aside, you want your hands on some NFTs if what you’re looking for is ultra unique and exclusive art. This uniqueness also lends itself to the digital art increasing in value over time. Major art dealers and auctions like Sotheby’s have recognized that NFTs are not just about hype, but something that is bound to change the course of the art world forever. Sotheby’s in April sold a collection called “The Fungible” for nearly $17m. That’s right, read that again: $17 million dollars.
Many NFT projects have propped up over the past year, blessing people across the world with accessible and beautiful art. One such project is Project 3333, which is not only gracing us with seriously aesthetically-pleasing pieces of art, but also spreading the beauty of Japanese culture. Project 3333 is an NFT project which has stored 3,333 ERC721 unique artworks celebrating Japanese art and culture on the Ethereum Blockchain.
Project 3333’s artist has created and curated thousands of pieces of art inspired by Japan’s nature and culture, inspired by all and everything that Japan has to offer, from the streets of Tokyo and the cherry blossoms of Kyoto. Much of the art is also inspired by Miyazaki’s films and anime. Project 3333 has created a proprietary AI-algorithm that divides each artists’ designs into select themes, which are then randomly selected by the generated software to create a one-of-a-kind NFT portraying the artist’s work.
The good news is that if you’re reading this before November 25th, you may be able to access Project 3333’s presale. Click here to see how you could gain access.
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