NFT or non-fungible token artwork has seen a meteoric rise in popularity. But what is an NFT? How do they work? And once you have one, what do you do with it? Today we’re exploring the newest edition to the world of collecting and how to print your NFT artwork once you have one.
What is an NFT?
NFT or non-fungible token is a term heard more frequently in galleries and auction houses alike. But what does it mean? “Non-fungible” refers to the piece being unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind Monet, however, is non-fungible. If you traded it for a different artwork by Monet, you’d have something completely different.
Today most NFTs are viewed online, as not all artists give permission for them to be printed into physical art. Unlike a physical work of art, it isn’t confined to one form, so it can be displayed in several different ways.
Displaying Your NFT
If you want to buy an NFT, first you will need a digital wallet. The wallet contains “private keys”, or digital passwords, that will connect you with your collection on the blockchain. Online, you have the option of displaying your collection on one of the NFT marketplaces such as Opensea or Rarible. NFTs can be viewed on any screen, from a phone to a computer and everything in between. Some companies have started to create digital frames and displays specifically for displaying this type of digital artwork. Advances in tech offer ever newer solutions for displaying art, with many collectors appreciating the newfound versatility of NFT.
While NFT artwork may have originated on the screen, they don’t need to remain that way. Collectors wanting to bring their NFT artwork into the physical world turn to fine art printing services such as Beyond Print to print NFT art. Each NFT artwork should have a corresponding image file that can be transformed from digital art into a framed masterpiece in a few clicks. Ordering online is simple, just upload your image, select your size and frame, and your NFT artwork will be dispatched to your door.
Creating and Selling NFT Art
NFT’s provide an interesting opportunity for artists and entrepreneurs alike. Since an NFT combines your digital artwork with code on the blockchain, it provides evidence that you created the work and that it’s original. Once the work is sold, if the buyer decides to re-sell it, the blockchain records the transactions. As the creator, you can set a fee with your NFT, so that you earn a percentage each time the work is resold. For example, if the NFT originally sells for £10 and is re-sold for £100,000 and then £1 million, you would get paid each time the piece was sold.