NYC art gallery is allowing NFT artists to display their designs remotely
Last year, an art gallery from New York City made another step towards NFT acceptance by allowing certain artists to showcase their creations in a remote display frame. This not only provides artists with enough coverage but also enables customers to purchase NFTs on the go. They only need to connect their Ethereum wallet via a website. Since owning the cryptocurrency can be earned in multiple ways, people can buy Ethereum with debit card, or even credit, facilitating the purchasing process.
But this is not what started the NFT development on the market. Since a few years ago, artists have received increased media coverage regarding their creations. As a result of the high demand, many art auction houses integrate NFTs into their programs so that aesthetes can purchase their favorites from trusted sources.
What about the art gallery?
Rolling down on Manhattan’s Fifth Avenue, you’ll find the Web3 NYC Gallery, which has added NFTs to its organization since last summer. The location is not made to catch your eye when passing by. The idea of the art gallery is that it allows anyone to own the right to show off and sell their NFT creations. Moreover, people can do this remotely, which expands the array of NFTs that can be displayed there.
The business has devised a platform where people connect their Ethereum digital wallets via the company’s website and choose the images they want to display. In the near future, the business plans to accept more public blockchains, like Solana or Tezos.
To purchase an NFT when visiting the art gallery, you need to scan a QR code on the frame and buy what you want from the list provided. If you stumble in the purchasing process, NFT-savvy associates will be there to guide you through and answer any of your questions.
The future of the NYC art gallery
With excellent public acceptance, the business owner states that more fun activities will feature the art gallery. The building might expand so that there will be enough space for all the partnerships with different brands, and there will be separate sections for each type of NFT group.
Although this is not the only company in the area, nor the first to have such a purchasing process, this art gallery focuses on something unique: onboarding the masses. This method requires the business to provide a handful of representatives to support customers in their purchasing process, making setting up wallets and understanding the environment in a more accessible way. At the same time, the company intends to sell printed slabs and jackets for people who still wish for tangible products. A small vending machine is also planned to be installed in the building for kids to enjoy.
Why the future of NFTs matters for artists
NFTs became more and more valuable with time. That’s because artists got the opportunity of creating art without needing to invest a lot in the process and also expand their area of potential customers. And, with the expectations of the metaverse to reach a multi-trillion-dollar phase, art galleries hunt more favorable circumstances of reaching more people who love and appreciate art.
The NFT revolution has empowered artists worldwide who couldn’t get much exposure due to their location. Still, blockchain technology allows everyone to access certain cryptocurrency networks and buy, sell or create NFTs. These assets can signify a considerable change because:
- NFT art can equalize chances for anyone to access and create art;
- VFX artists have more opportunities of showing off their talent;
- Artists can monetize their creations in a decentralized matter;
- NFT art can make people close to each other;
The future is bright for NFT artists at this point because regardless of what happens in the crypto market, these digital assets will always represent something valuable that people will demand. However, if the price of a cryptocurrency rises or falls, this could influence the final product, but that won’t affect its worth.
NFTs and ownership
Before the rise of NFTs, artists faced certain issues regarding ownership of their own creations. Many artists couldn’t profit from their designs because they couldn’t prove that they owned their art, not anyone else. This phenomenon also allowed thieves to steal creations here and there and get incentives, or at least media coverage, off of someone else’s work. In art, copyright ownership is an intellectual property right, which is usually proven through a signed statement of authenticity. However, that’s not enough for artists.
With NFTs, things are quite different. Ownership is managed through a unique ID and metadata that no other token can replicate, which facilitates the transfer process. Basically, when you purchase an NFT, you get full ownership, which can be easily proven. In a broader sense, NFTs can be defined as digital certificates of ownership representing the purchase of a digital asset traced on any blockchain. At the same time, NFTs are not that easy to copy, hack or deteriorate, which offers artists more confidence in exposing them on the internet.
On the other hand, there are some downsides to NFTs. Despite their increasing popularity on the internet and the pop culture that praises their originality, we can’t be sure of NFTs’ future because they haven’t had that much time on the market. Therefore, artists shouldn’t invest too much money in them; it’s enough to be considered as a side hustle for now. At the same time, it can be possible that a person sells an NFT for a lower value compared to the one they bought it with because an NFTs value depends on the client’s willingness to pay. All in all, there are ups and downs to creating and selling NFTs as an artist.
The rise of art galleries embracing NFT and blockchain technology provides artists with a new way of selling their art. Although this method is highly beneficial for them, it’s still not 100% sure or profitable. Still, this technology could change the art world forever.