A groundbreaking technology is letting artists sell digital creations in a unique new way
. The phenomenon is attracting a strange brew of not just artists and collectors, but also speculators looking to get rich off the latest fad.A bubble it may be. But many digital artists, fed up after years of creating content that generates visits and engagement on Big Tech platforms like Facebook and Instagram while getting almost nothing in return, have lunged headlong into the craze.
Some digital-art collectors say they’re paying not just for pixels but also for digital artists’ labor–in part, the movement is an effort to economically legitimize an emerging art form. “I want you to go on my collection and be like, ‘Oh, these are all unique things that stand out,'” says Shaylin Wallace, a 22-year-old NFT artist and collector. “The artist put so much work into it–and it was sold for the price that it deserved.
So-called whales are making the biggest deals in the NFT art world. These deep-pocketed investors and cryptocurrency evangelists stand to benefit financially from hyping anything remotely related to crypto.
Many other artists working in groundbreaking and sometimes controversial styles are also receiving unprecedented interest from NFT collectors. Art with whirling 3-D renderings, street-style oversaturated color schemes, and hyper-referential cartoons are thriving. These Internet-fueled aesthetics are grabbing the attention of both a younger generation raised on Instagram and a rabble-rousing crypto clientele.
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