NFT means Non-Fungible Token, a crypto-asset that cannot be replaced by another token on the blockchain. NFT is a means of digital tokenization of existing assets such as artworks, real estate, and games, and is based on blockchain. Since all relevant information such as ownership and sales history is stored on the blockchain, it is impossible to forge because the first issuer can be checked at any time. In other words, NFT is a digital certificate that certifies who owns a particular asset. Anyone can view images of the work online, but only those who purchase it through NFT can claim ownership.

Recently, works of art using NFT have been traded at high prices, and the original artist is also drawing attention from tax prices.

An NFT artist Beeple created “Everydays: The First 5000 Days”, a compilation of all paintings drawn daily for 5,000 days, from May 2007 to November 2020, and uploaded on the internet. Beeple posted a series of “Everydays” works on the NFT exchange Nifty Gateway, which was sold at a high price. NFT works have gained much attention in the past six months, and Beeple’s work was sold for $69.34 million (about KRW 78.5 billion) at Christie’s, an auction house in the U.S., in the evening of March 11. People appreciate this value, since 14 years of creation were condensed in this work.

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Alana Edgington(35) is also an artist who has gained new attention as an NFT. When Alana first put her work on the NFT auction, her 16 pieces were sold for 100,000 Canadian dollars, of which “ETHical” was sold for about 17,000 dollars. Although she has been doing art all her life, she has never been able to hang his work in a gallery due to her introverted personality and she raised three children by moving around to other jobs. Alana, who was studying for a horticultural degree, was able to pay off her credit card debt and even move to a larger house after the auction.

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South Korean pop artist Marie Kim is also the first artist in South Korea to draw attention to NFT work. Marie Kim introduced “Missing and found” (2021), which started with 50 million won for the first time and was sold to a Korean collector for 288 Ethereum (about 600 million won). Marie Kim, well-known for her “Big-Eyed” work, said the biggest advantage of NFT through the auction is that “even digital works without real life can be sold clearly.” Existing videos can be watched at a cost because they are not real, but sales are practically difficult. However, the NFT will be able to expand not only the artworks but also the movie and music markets.

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The public is enthusiastic about the potential that the NFT currently has. With the rapid digital transformation of many industries and the adoption of blockchain technology in large quantities, people are paying attention to the possibility of digital works into visible forms. Many artists are drawing attention in the NFT space, and we look forward to promoting the art market through the NFT.

• Original Content

https://medium.com/d-labofficial/best-nft-artworks-94bbdcab744c

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