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NFTs and Modern Art

February 26, 2022 | 4:48pm EST

My History With Art Ever since I was introduced to the world of art, I have always thought of it as a physical one. Art is tangible: whether on a piece of paper, a sculpture, or a hanging mobile. When I would go to art galleries with my grandma, we would walk through aisles of paintings — each representing different cultures — along with various other forms of expression. In recent years, however, digital media has seeped into art culture, followed soon by NFTS.

Digital Art Although digital art began in the 1960s, it did not become a popular form until the invention of tablets and iPads. As digital art grew with the accessibility of technology, its unique techniques became increasingly mainstream. Unfortunately, a dispute in the art community developed as to if this digital form is truly art. Thus arose the question: who is to say what is or isn’t art?

Quickly following the uptick in digital art came the production and distribution of NFTs. In my opinion, purchasing an NFT is the new equivalent of purchasing a painting in a gallery.

What is an NFT? NFT stands for “non-fungible token”. When you purchase an NFT you are purchasing the digital asset to a painting or image.

To sell an NFT, it costs about $80 to publish a piece, which for some people is a worthwhile investment. Many young artists and entrepreneurs are taking advantage of NFTs. For example, Jaiden Stepp, a 15-year-old artist, has made $60,000 by selling NFTs. Many other artists have been making millions through this unique form of selling art.

Implications Artists may want to begin converting their art into online NFTs. But what does this mean for art galleries? Will art commissioners purchase NFTs for clients? How much business is in this form of art?

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