TL;DR

Non-fungible tokens (NFTs) can be used to digitally represent almost anything, including videos, event tickets, and virtual real estate. Perhaps the most prominent use case for NFTs is digital art. Many marketplaces allow emerging digital artists to sell their works, helping more people become interested in becoming NFT artists. Below we provide some tips for digitizing and monetizing your artwork to become an NFT artist on platforms like the Binance NFT marketplace.

Introduction

NFTs are one-of-a-kind digital assets that can represent digital or real-life items. Each NFT has a unique token ID making them easily distinguishable. Unlike Bitcoin and other fungible assets, NFTs are not fungible, meaning they are not interchangeable with each other.

Thanks to the unique characteristics of NFTs, artists can benefit from creating and selling their art in the form of NFTs. In addition to very easily providing proof of ownership and authenticity, NFTs allow artists to earn royalties more conveniently, without the need for an agency or manager.

What is NFT art?

Simply put, NFT art is any piece of art that is created as a digital token on a blockchain network. These tokens are called non-fungible tokens or NFTs. Typically, NFTs are created using smart contracts that meet certain standards. One of the most popular standards is Ethereum's ERC-721, which requires all tokens to have a unique token ID to ensure non-fungibility.

Because of this feature, NFTs can represent ownership and create financial value for digital artworks. In a world where art forgery scandals have shocked entire nations, NFTs can help empower artists who care about preventing counterfeiting of their creations. Thanks to blockchain technology, artists can easily prove that they are the creators of a particular work of art.

Among the different types of NFTs on the crypto market today, perhaps the most common is NFT art. You may have heard about famous NFT artist Beeple scoring a sale of his NFT art for an exorbitant sum of $69 million. Likewise, Grimes, a multi-faceted artist, sold digital art for $6 million in NFT format. In fact, each NFT artwork can sell for millions in auctions similar to traditional ones.

Why do people become NFT artists?

Because NFT art is digital, exhibitions are no longer limited to physical spaces like museums and art galleries, allowing artists to display their creations anywhere in the world. This makes it possible for artists' work to transcend geographical boundaries and gain global recognition.

In addition to venturing into a new and modern artistic format, another important reason to create art through NFTs is that you can very easily verify its authenticity. Thanks to the unique ID of each piece of NFT art and the immutability of the blockchain, the ownership and authenticity of each piece of NFT art can be preserved.

NFT artists will also be pleased to know that their art can be displayed and sold without having to go through middlemen, allowing them to avoid commissions that often reduce profits.

Some platforms, such as the Binance NFT marketplace, allow artists to earn passive earnings through royalties. This means that creators can get a percentage of every NFT sale, even when it happens between users on the secondary market.

Finally, the beauty of the NFT art scene is that anyone can create and sell their artwork. Unlike traditional art galleries, many NFT marketplaces are inclusive. This environment gives developing artists the opportunity to be independent and make a living doing what they are passionate about doing.

The downsides of being an NFT artist

Although their popularity has been increasing, NFTs are still not considered a mainstream art form. As it is still in its infancy, established NFT artists may not be able to find enthusiastic buyers as quickly as traditional art gallery buyers.

Additionally, since anyone can be an NFT creator, the market where you are trying to sell your art may be saturated compared to traditional art galleries that display meticulously curated art. You may need to build your fan base and establish value behind your artwork to increase your chances of success as an NFT artist. Read our blog on How to Become a Creator in the Web3 Space for more tips on how to promote your NFT creations.

How to be an NFT artist

Starting your NFT art experience is easy:

Step 1: Start by creating art pieces. You can find inspiration in other NFT art collections.

Step 2: Go to a platform like the Binance NFT marketplace and upload your digital art to the blockchain.

Step 3: You are now ready to start selling your NFT art.

How to mint and sell NFT art on the Binance NFT marketplace

Verified users can create an NFT or collection of NFTs on the Binance marketplace using a process called minting. Please note that you will need to have at least two followers on your Binance NFT user profile in order to start minting.

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

Step 2: Enter your new collection information. Includes the name, a brief description, a logo and a banner image, as well as a symbol. You can also choose to link a wallet to your art so you can prove your ownership on NFT markets.

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

For more information, please review the Binance NFT Sales Settlement Deferral Policy for Standard NFT Collections.

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

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

For a more detailed guide or video tutorial, visit the FAQ on how to create your NFT on the Binance NFT marketplace.

Conclusions

If you're thinking about monetizing your art, consider turning your work into NFTs. Doing so on the Binance NFT marketplace is not only easy, but it also gives you the opportunity to participate in the NFT art space, even if you are not an established artist yet.

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