As the cryptocurrency space rapidly grows, a new concept of digital ownership emerges in the form of NFTs. NFTs are non-fungible tokens and NFT pixel art is getting more and more popular.
If by some small chance you haven’t heard about this concept, allow us to get you up to speed as it might be the very next best thing in crypto. For that, here is a short guide about the four things everyone should know about NFT pixel art.
But first, let’s explain what NFTs are.
What Are NFTs?
NFTs exploded in popularity this very year. You might have heard the stories of monkey digital images going online for hundreds of thousands of dollars. Some NFTs are even selling for millions of dollars. But why is that? The reason why these digital assets are selling so much is that they generate a lot of hype.
In short, NFTs are digital assets where the owner of an NFT has proof of ownership over the asset. They own it and they can do whatever they like with it. Only one variation of the asset exists, hence why they’re so popular and in some cases, so expensive.
They cannot be endlessly copied, like most digital assets, and that creates scarcity around them. While many believe NFTs is a bubble ready to burst, others disagree. We won’t get into that as that’s a debate for another guide.
What you do need to know is that an NFT can be any digital asset. It can be pixel art, it can be an image, a video game character, a video game item, or anything else. But probably the most impressive NFTs come in the form of virtual land ownership. People are already buying land in the metaverse and the deed to the land comes in the form of an NFT. In an even weirder world, a highlight of a basketball player’s game sold for hundreds of thousands of dollars. Yes, it can go that far.
But since we’re here to talk about NFT pixel art, what are the four things you should know about it? Let’s find out.
1. NFT Pixel Art Is Like Real Art
If you know anything about art, then you probably agree with the statement that art is subjective. What one person likes doesn’t necessarily mean you like it. While you might put extreme value in a Picasso painting, some other person will buy a banana taped to a white canvas for millions of dollars. It really can be that wacky.
So if a banana on a canvas can be art, why couldn’t NFTs be? It’s highly complicated to create an NFT. To get a detailed idea about how to make an NFT, take a look at Coinformant. More so, it can be also expensive. So artists put a lot of time and effort and money into it. If someone likes their pixel art, then they’ll buy it.
It’s just like any other digital or physical art piece. It’s subjective and interesting. Some artists have made the NFT pixel art world their own. If you’re interested in the works of one such artist, then make sure to visit Aego.
2. NFT Pixel Art Proves Digital Ownership
For us to own an art piece, we have to physically own it. But that makes it impossible to own any digital art. Well, at least that’s what we thought. Before cryptocurrencies, no one could really prove they’re the owner of digital art.
But thanks to NFTs, we have moved past this hurdle and become NFT art owners. NFT pixel art is just like any other non-fungible token art piece. If you have it, then you own it. Your ownership is engraved in the metadata of the file that contains the small squares. You can even go as far as to rent NFT pixel art the same way you would rent any physical piece.
When acquiring an NFT pixel art, you have to mind it through the blockchain. This makes you the “legal” owner of that piece. Since the blockchain holds records of every transaction, it’s very difficult to prove you’re not the owner of a particular NFT pixel art.
3. You Can Display NFT Pixel Art Virtually
Since we’re still talking about art, the great thing about NFT pixel art is that you can indeed display it virtually. NFT pixel art collectors have their own digital galleries where anyone can see their collection of non-fungible tokens. This digital gallery can be a website, or it can be property bought or rented in the metaverse.
The rabbit hole goes very deep when it comes to cryptocurrencies and virtual worlds. But it’s important to remember that we’re already in that rabbit hole. NFT pixel art galleries are a whole different way to sell and discover new NFTs.
Artists specifically use the digital world to promote and sell their work. Collectors do the same thing, only they care about showing everyone what their collection of NFT pixel art consists of.
As time goes on, we will create a different way of selling, buying, and displaying NFT pixel art. While the metaverse is an interesting proposition and perhaps even a solution to the next step, we’re a long way from that.
4. NFT Pixel Art Is Selling For Millions Of Dollars
Probably the headline every NFT pixel art enthusiast dreams of waking up to every day, NFT pixel art can be profitable for those who make them.
This year alone, a single NFT pixel art was sold for $1.7 million. But that’s not the most impressive number you’ll read in our guide. By far the most popular NFT pixel art collection is the Cryptopunks collection. A single Cryptopunk was sold for a whopping $11.8 million last summer. What we’re not telling you is that the Cryptopunks collection had hundreds of similar NFT pixel pieces that instantly sold out.
So if you’re talented, interested, and eager to learn about it, selling NFT pixel art might just be your calling.
That concludes our short guide on the four things to know about NFTs and NFT pixel art. We hope that this guide explains and broadens your horizon a bit when it comes to cryptocurrencies in general.