NFT and why not falling for it as an artist

  (English only)

NFT’s. Do you know what it is? I didn’t until someone on Instagram asked me to sell an artwork by NFT.

NFT is a Non Fungible Token. It’s a way for collectors and investors to ‘make sure’ an artwork or something else collectable, can be digitally stored with only one owner in a blockchain. Ah yes, blockchain. Also a new word for me.  

A blockchain is a database where you as owner and the object you own, will be listed. You need an account and wallet to trade with it.  And you trade with it in tokens.  

Now what’s in it for you as a normal artist? You can make an account and can play Wolf of Wallstreet by selling pictures, paintings, your grannies jewels etc. The only difference with a physical selling is that it is digital. So, if you take a picture of your feet and register it in the blockchain, you can trade your feet or just make a statement that you are the owner of those feet. 

So far my information and interest in NFT. 

I am an artist who exhibits my artworks, processes and thoughts mostly online. It’s a nice way to connect with prospects and buyers or find colleagues who inspire me. 

But online also means everyone can see my work. And yes, that is a choice. 

Every day, like really every day I get a DM (direct message) from someone who is trading with NFT’s and wants to buy my artwork. I stopped answering unless I need a good laugh.

They don’t read my profile, they just DM me they want to buy my work in NFT. And the answer is and will always be No. 

Of course I know that if I make a wallet on a blockchain, (for a lot of real money) I can ask huge prices for my work. But that is not the reason why I make art! I make art so I can make another human happy, because they love my work and the story behind it. And that other human wants an original and physical piece in their hands to be inspired with.

I make art so people can connect with it. And that is my problem with NFT traders; most of them are Wolfs of Wallstreet (scammers) who really want to make a lot of money by selling the art over and over again for absurd amounts of money, or they want other information from you and whatever the reason is why they think you are an easy victim. 

And you as an artist will only see a small percentage of it when you sell it to a new owner who is going to trade with it, if you are lucky…

*Oh well, the same can happen with an art gallery, but then there is for 90% the love of art involved.

Of course you can make a blockchain for yourself and start trading with it, but remember that if you say yes to an offer from a trader on instagram or whatever online platform, they will ask you to make a blockchain account yourself so they can buy it from you. Making such an account is expensive and the buyer from your art mostly rans away because as a self respected artist you ask decent prices. Buying art in NFT is a vague investment. So buying your art has nothing to do with a beautiful artwork in a house, with owners who love to watch it, but everything about changing your art in a trademark. And working with NFT traders will never make you rich… remember that.

But it is a nice question: ‘what is the meaning of art when it becomes a trading object?’

In my opinion my art would loose it’s soul and meaning. My art has a message and the owner has a feeling with it. It’s a synergy between me, my artwork and the new owner of the artwork. All those things won’t happen when I connect my art to an NFT. And for that it will be NO to NFT. 

  

Notes and sources: 

*Of course if I make a deal with an art gallery the owner can change as well, the price fluctuates and I will never know where my artwork went, or that it was appreciated. But the artwork by an art gallery is mostly a real piece and it is transparent with rules and contracts. 

**

If you trade with bitcoin, you never have to pay for making a wallet (account) Paying for a NFT listing is never free. So you never own your own listings unless you make your own trading website. But then you can better sell your artworks the normal way. 

*** 

NFT is mostly a way to be scammed. And this is one example of the way it goes.

The NFT trader won’t ask you to make an account and wallet on a blockchain, but says it will make/invest in it, for you, they’ll ask for your bank account number with the promise to send you the money and then disappear with the picture of your artwork which is then all ready transformed in a NFT code where that scammer is the owner of your NFT and can trade with it. As soon as the trader has sold it for the double price they have paid you, you’ll get your money or more likely never hear from them again, since the social media accounts are mostly empty or fake. So don’t do this online, but make sure you have a blockchain account or know more about the business the trader has behind it. In the end you can make a lawsuit if you know who the scammer is, but since the rules of trading with NFT aren’t that clear and the accounts online are mostly empty or fake, it will be a long exhausting road. Precious time you better use to make an artwork. And if you want to trade with it, register a NFT yourself in your own blockchain. 

 

**** disclaimer: this article is based on opinion. 

Sources: 

Dutch: https://www.kaspersky.nl/resource-center/preemptive-safety/how-to-avoid-nft-scams

English: https://www.youtube.com/watch?v=hIBfc28qtfE