Summary

Non-fungible tokens (NFTs) can be used to digitally represent almost anything, including videos, event tickets, and virtual real estate. However, the most popular use of NFTs may be as digital art. Most marketplaces allow digital artists to sell their work. With open access, more people are interested in getting involved in the world of NFTs. Here are some tips on how to digitize and monetize your art to become an NFT artist on platforms like Binance NFT Marketplace.

Introduction

NFTs are a unique class of digital assets that can represent digital or real-world items. Each NFT has a unique token ID which makes them easy to distinguish. Unlike Bitcoin and other fungible assets, NFTs are non-fungible. This means that NFTs are not interchangeable.

With this unique NFT feature, artists can benefit when creating and selling their works in NFT form. In addition to being able to easily demonstrate proof of ownership and authenticity, NFTs allow artists to earn royalties more easily without the need for an agency or manager.

What is NFT art?

In short, NFT art is a work of art created as a digital token in a blockchain network. These tokens are called non-fungible tokens or NFTs. NFTs are usually created using smart contracts that follow certain standards. One of the most popular standards is Ethereum's ERC-721 which requires all tokens to have a unique token ID to guarantee non-fungible properties.

As a result of this non-fungible nature, NFTs can represent ownership and generate financial value behind digital works of art. In a world where various fake art scandals have attracted global attention, NFT art can help empower artists concerned about art counterfeiting. Through blockchain technology, artists can prove that they are the creators of original works of art easily.

Among the various types of NFTs in today's crypto market, NFT art is perhaps the most common type. You may have heard of renowned NFT artist, Beeple, who surprised many with the sale of his NFT art for $69 million. Grimes, a multi-talented artist, is listed as selling $6 million worth of digital art as NFTs. Yes, NFT artwork can sell for millions of dollars in NFT art auctions that resemble traditional forms.

Why do people choose to become NFT artists?

Because NFT art is digital, exhibitions are no longer limited to physical spaces such as museums and art galleries, so artists can showcase their creations anywhere in the world. This allows the artist's work to transcend geographical boundaries and gain worldwide recognition.

Besides switching to a new, modern art format, another compelling reason to create art via NFTs is that you can easily verify authenticity. With the unique ID of each NFT artwork and the immutable nature of the blockchain, the ownership and authenticity of each NFT artwork can be maintained.

NFT artists will also be pleased that their art can be exhibited and sold without having to go through a third party, so they can avoid intermediary fees that often eat into their income.

Some platforms such as Binance's NFT Marketplace allow artists to generate passive income through royalty fees. This means that NFT creators can earn a percentage of every NFT sale, even if the sale occurs between users on a secondary market.

Lastly, the advantage of NFT art is that anyone can create and sell their art. Unlike traditional art galleries, most NFT marketplaces are inclusive. This environment provides opportunities for budding artists to create independently and earn a living from their passion.

The downside of being an NFT artist

Despite their increasing popularity, NFTs are still not considered a mainstream art form. Because they are still in their early stages, established NFT artists may not be able to find buyers as quickly as traditional art galleries.

Additionally, because anyone can be an NFT creator, marketplaces may be flooded with too many works as opposed to exclusive art galleries with curated art. You may have to build a fan base and present value behind your art to increase your chances of success as an NFT artist. Read our blog on How to Become a Creator in a Web3 World for more tips on marketing your NFT creations.

How to become an NFT artist

Getting started with NFT art is not difficult:

Step 1: Start creating art. You can get inspiration from other NFT art collections.

Step 2: Go to a platform like Binance's NFT Marketplace, then upload your digital art to the blockchain.

Step 3: You are ready to sell your NFT art.

Mint and sell NFT art on the Binance NFT Marketplace

Verified users can create NFTs or NFT collections on the Binance Marketplace through a process called minting. Please note that you need at least two followers on your Binance NFT user profile before you can mint.

Step 1: Log in to your account on Binance NFT Marketplace, then click [Create].

Step 2: Enter your new collection details. These details include the collection name, brief description, logo and banner image, and symbols. You can also choose to tie a wallet to your artwork to prove ownership in the NFT marketplace.

Step 3: Read and agree to the Binance NFT Minting Rules and Terms of Service, then click [Create].

For more information, please read Binance's NFT Sale Settlement Delay Policy for Standard NFT Collections.

Step 4: You will receive an email notification once the collection is ready.

Step 5: To view your NFT art collection, go to [User Center] - [Created]. There, you can also edit a number of details of your collection.

For a more complete guide or video tutorial, visit the FAQ How to Create NFTs on the Binance NFT Marketplace.

Closing

If you want to monetize your art, try converting your works to NFTs. Apart from being easy to do on the Binance NFT Marketplace, you also have the opportunity to enter the NFT art industry even if you are not yet an established artist.

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