NFTs or non-fungible tokens have grown relatively well over the course of 2021. I decided to try it and will explain in this page of my website, what NFT is and how it is revolutionizing the art world.
To begin, NFTs are digital tokens, they are called by various names such as cryptoassets, or more commonly you might know them under the name of crypto currencies, and therefore each digital token indicates that it is the original digital document or artwork, or image, or video or so said, the digital fingerprint or signature of an artwork in our case. Basically, an image can be reproduced many times, but the token, which with art determines its footprint on the blockchain, cannot be changed. An original work of art can therefore now be bought and sold, but above all and also, be collected in the same way that a collector of art collects fine art.
Imagine you bought a Picasso painting or your family inherited a work by Joan Mirò, you have a very clear idea of what you are getting. In most cases, an art gallery or collector is used to receiving against payment, a canvas with paint on it, a sculpture, or perhaps a collage made by a Berlin street artist, but whatever makes this painting so special and so unique, it is not only the person who put his talent to work, as well as the painting and the storage costs or the reports on the general condition of the work. There is only one and only canvas with paint affixed in this particular way in the world, the original one. This is what gives the work of art its identity and makes the painting unique or rare and which makes it possible that only one person in the whole world can be in their possession after having bought it, because let's not forget, it is never the right to resell or reproduce it that is negotiated but always and only the right to own a work made by an artist, this is what happens when we talk about selling or buy art. Only in rare situation you will see an artist giving aways his author or owner rights fully on an artwork.
For the short history part, over the past year, NFTs have radically changed the art world and, to be honest, they are the best possible alternative to the watermarkets that have hitherto been affixed to images in terms of image protection and of identity tracing of a work of art. NFT are now real revolution since they first appeared and they have already made a new type of collector spend a lot of money who are very qualified for rapidly increasing the numbers of artworks within their digital collection. It has completely changed the art world and I know a lot of my friends who do art with their tablets on ProCreate or with Illustrator or modeling and animations on Blender, I think all of them they should probably at least know what an NFT is and what opportunities it can offer their jobs. So I'm going to do my best to describe here the few uses we make of it at Bayard Art to clarify things for you a bit. So let's start by explaining here that this famous NFT or non-fungible token is the token that says "Hey, I'm the original, nobody can duplicate me" it's because this token doesn't live on a website. It is therefore not stored on a server in the same way as on a website. This token, or this NFT, he lives on the blockchain, with billions of other things that also living together on this famous blockchain, such as bitcoins, ethereums, and many other information as well. You can compare the blockchain to a big funnel where all informations are living and traveling from A to B. They are so said, always in movement and never at the same place on the blockchain because they change from possesor at any time.
The idea of blockchain is simple. A Blockchain is a digital record of transactions. For example, this is why new banks are using blockchain to secure digital transactions such as payments or other asset exchanges. So when NFTs live on the blockchain, it helps to track the various changes related to the ownership and originality of any of these tokens. This is how the person who owns a token or an original work of art, or an image or an animated image file can then make it travel on the blockchain from one collection to another. To do this, there are several methods, such as for example reselling or licensing the rights to a museum or an art gallery to display it or even in some cases to control the conditions under which it is displayed. So the question arises, how do you take that digital artwork that you created and turn it into something with a token on it that someone else would buy? In fact, there are websites and marketplaces that allow you to upload your art, then add it to the blockchain, and then sell it. But there is only one patented solution that allows the original works to be identified with certainty. This is what I will explain to you here.
If you read my website here, you've probably heard of sites like Rarible and OpenSea which you can join with my referral link here. They are clearly the most suitable "websites" for beginners with NFTs. One thing that is clear is that the easier the entry is for anyone to deposit their art there, the more people there will be who will just jump at the opportunity for them to easily post their art as files, or images also called NFT by the new hype. So if you don't want your creations to end up between two photos that have nothing to do with your art, now is the time to pay attention. On these platforms, artists can post whatever they want to make a quick buck, and that's where it gets interesting, or risky, depending on which side of this market you are. There are sites that are more organized sites, kind of like some kind of super rare and nifty catwalk. These sites act as more traditional art galleries or dealers holding the artists and tokens they show and those they sell and it is on these platforms that established digital artists (NFT artists) earn hundreds of thousands of dollars by selling their digital creations and by negotiating the rights of possessions of properties and assets living on the blockchain. Are you okay? Are you still following? The link is slowly being built and you have a better overall vision of this new virtual era that is emerging in front of you?
So let's ask ourselves several questions together:
Now that you know the type of question it entails to get started with NFTs, I'm going to explain here how we use blockchain daily at Bayard Art Consulting. Certainly this part is interesting for digital artists working with the system of royalties, for example here, the royalties to which I always granted a particular importance. Consider the following example. Each time you are going to create an NFT on a "website" (image or short animated video that you have created), you will need to set a percentage for this NFT as a royalty for your copyright on secondary sales as well as the rights of use which must be limited either to possession only, or to the commercial transfer of rights including the rights of resale, modification, publication, etc. The idea is that if you sold an NFT to someone for 1.000€ and a few minutes later that person with better contacts than you was given an opportunity to sell it to someone more fortunate and therefore has sold that same and unique NFT in the future for $ 10.000€, you will get 1.000€ in your wallet if you set a 10% royalty on the item and it can happen millions of times in a very short time on the blockchain. The chain of transactions goes on and on, as long as the internet and computers and smartphones exist, there is no reason for it to stop and on both sides, artists and collectors start now to understand the new game.
For beginners it is now easier to understand what is a NFT, and on my side, for all the people who do not know what NFT is, I hope the article meets your expectations and you really get to know NFT or digital artwork through my site and what I'm doing with artists and art galleries in Berlin. Right now, NFT is surely in its early stages and I find that out every day in my work with artists and art galleries. It's a bit a similar situation where everyone always wants to have the latest technology, but only a few have the guts to try it out, give feedbacks and participate to improve something new. Everyone wants to get started but not enough people have the necessary experience to do it, or when it comes to making an appointment time is lacking or people are not ultra comfortable with all the technical requirments that such a technology requires from a user point of view. It is precisely for these reasons that I always give my clients the necessary time to come back to me and that I support them at their own pace. In Europe it is often time that is lacking, while in Africa it is the devices and the internet connection which are not optimal. In Asia and India it is another rhythm of life that animates them and in America it is first of all the million that must be shown before even being able to come into contact with more prestigious galleries which, however, are not even up to date with their website where you can copy all the images and have them printed at home in DIN-A4 format or even sometimes in DIN-A3 print quality.
I tested and experimented a bit the tools available on the market for the exercise and to verify what system is the more trustable for me as an artist and consultant. Let's take it back together step by step and I will show you the card of our property in Palm Jumeirah, Dubai, 57545, United Arab Emirates.
Your account is now funded and you can use this amount that you have loaded on your ethereum wallet in the same way you would have recharged your prepaid credit card. Now is the time to prepare your images and creations to put them on the blockchain and I will explain here how to go about it. First of all, there is the supported document format to consider as well as the size of the NFT to define. You can make NFTs of any size, but try not to make them too heavy. This type of file is made for digital devices, most often mobile so no need to think too big. A simple 1080px X 1080px file already does the job well and if you absolutely want to have 4K images you can push the image sizes to 4080px X 3040px but it will take a long time to load them depending on your geographic location and the network that you have at your disposal.
Most often, NFTs are representations, illustrations, animated motions and images in PNG, GIF, WEBP, MP4 or even mixed media with MP3 format but must not exceed the maximum 30MB on Rarible for example. Rarible is a community-governed platform for creating digital assets, with support for the ERC1155 standard which is nothing else than a simple digital token standard created by Enjin. This token standard is used to create both fungible (currencies) and non-fungible (digital cards, pets and in-game skins) assets on the Ethereum Network. To resume that, by using the Ethereum network (blockchain), ERC-1155 tokens are secure, tradable and immune to hacking which make their signature super unique in this genre.
On OpenSea, you will be first asked to create a collection to place your items into it. For this you will need to prepare an image of 350px X 350px and then, you can prepare some more images to add. For example a featured image to be used for featuring your collection on the homepage, category pages, or other promotional areas of OpenSea. 600px X 400px is the size recommended for this. You might want to add a banner image to appear at the top of your collection page. Avoid including too much text in this banner image, as the dimensions change on different devices. The recommended size for this is 1400px X 400px. Here the format of documents are a bit larger than on Rarible and can be images, videos, audio, or 3D Model supported in JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. The maximum size on OpenSea is about 40 MB.
Ok so now that you have all of your images ready to go and therefore ready to be published, let's move on to the pure creation of an NFT and how it goes to take a closer look at what's going on that famous blockchain with all these NFTs.
Import your file on the platform of your choice, I will use OpenSea for this example here. Add a title, add a description and you will be asked to add a external link to your website as well, for example here I will give the url / link of this article to keep things growing slowly and with natural SEO by users with a very high potential of interest for art and NFTs. At this point, user can choose to add unlockable content to the possesor of the artwork, so said the owner, which is not quite the right term for this because the artist and author remains at any time the real owner of an artwork. To engage my readers and because, if they are reading until here, they are probably interested as well to learn more about how to get some more Ethereum from their devices, I suggest them at this point that if they've bought this item, they might be interested to join our minning team as well, a bit like the readers of my blog who spend precious time on my website.
For artists, I ask them first if they have a website to host all their NFT collection at one public place to use such as their official art gallery or virtual showroom and if they do, I encourage them to learn more about what we can do for them. I invite my buyers of NFT to subscribe via this link to join our miner's team and get more ETH from their CPU daily, or with any visitors of their website in a way that they can buy more artworks from our collection and create a sustainable force to our business. That's a good and sustainable fit for this field and it can generate more exposure for my art at the same time. The last step now is to click on the create button, it will generate my NFT on the blockchain to make it live there and once this is made, I am ready to publish my first NFT and I can share the link of this NFT with the world. The sharing of a NFT can be made by text links on your website, or by sharing via social media or by using short codes and scripts to embed into your website, just like i did it here.
I think you have now a very clear idea about what is a NFT and how you can create them. However this doesn't answer the question of what is happening with the real artwork this NFT is based on?
Well this is the point of all that, NFT are only a digitalized form of artwork but the real artwork is still existing, so how can you create a NFT directly from an existing artwork is intereting to know as well, because now this have been made as well too and it's shaking the art market in a way you never might have thought of before. Thanks to new technologies recently developed in Switzerland, it is now possible to create an NFT directly from an original work. You got it right, you don't need to be bored reading long articles on this subject, we did it for you and we tested and fully integrated these new technologies into our existing workflows.
Today it is possible to directly capture the fingerprint of a work of art with your mobile phone or tablet with the functions of super powerful cameras and cameras of up to 13 million pixels on our mobile devices and well beyond that level with the new professional cameras. It is therefore interesting to also know how to capture this fingerprint in order to create as quickly as possible a certificate of authenticity which will also be tamper-proof because it also lives on the blockchain. Something that was not done until here because it was done on paper and was very expensive because it would require a lot of effort. Our times and our modes of operation mean that we want to access information and content ultra quickly, in 3D or in augmented reality and this is now possible in a single ecosystem developed to deal specifically with this type of transaction. and asset exchanges on the blockchain.
For this type of transaction which also requires the transfer of original works by international channels such as paintings by artists that we support and whose sales we coordinate throughout the world, it is now possible to benefit from more. For example, I use the newest standard of the art world called 4ART and you can visit my virtual art gallery here. I use 4ART to photograph works such as acrlylic or oil paintings on canvas, or sculptures in the form of framed under glass and other fine art that are produced by artists who collaborate with Bayard Art Consulting.
Once my works have been photographed, I can now scan over my art with the lense of my smartphone. The 4ART application installed on my device and the app will captures the fingerprint of a splash, or mark of paint. This works for linen or cotton, or even glass and other base materials as well. The possibilities are relatively vast, they diversify with the time and with the artists who strongly contribute to the advancement of this new technology by recording their original works in this new type ecosystem. Today we have help 4ART for the onboarding and coaching of over 40 artists from all over the globe and growing daily. The images of the original work have been saved and it is very easy for us to be able to authenticate it and therefore we are very sure of what we are going to sell when a request arrives. The author who is also the artist can thus decide to enter into contact with a potential collector to discuss together the terms of the exchange which will be carried out. The originality of this technology lies to my taste above all in the fact that what is exchanged here is the original work, but also all the documentation that may exist on its state of conservation and on the publications in which this work appeared as well as the certificates of authenticity in the form of photos or documents that can be added at any time by the owner.
When I consult a work of art, I do not want to be interested only in who has been its owner or what will I receive in addition, as is the case for example with NFTs. With an original work, I want to be sure that I am in possession of all the information and when it was also collected. This is what I like the most with this new technology which allows to have a real visual and timestamped rendering concerning the work for which I will acquire the rights of possession more or less restricted or totally unlimited. A collector will receive only in rare occasion the full ownership on an artwork. Once the works are registered on the 4ART application, we can share these works of art with the whole world through the virtual 3D galleries. Another function I enjoy especially on this app is that it allows potential buyers to see how the work fits into their space via the augmented reality functions published recently.
4ART recently announced its growing interest in integrating NFT technology into their services directly into their application, which now allows you to create your NFT directly from an original work. It is in the preparation of this new function that we coordinate the sale of artworks and that we distribute in the form of originals and incidentally also, the NFTs created from the originals when we have not already converted them ourselves from digital assets for these types of works. Seeing how quickly this new technology is developing and the network is growing, I think this theme will occupy many collectors and editors around the world so we might as well all play with the same cards on the table. In any case, it is the originality and the rarity of a work but also its influence in the art world that make it what it is.
We trust 4ART because they are the only one on the market offering a secure and easy way to generate NFTs from physical and digital artworks, manage them and market them, without any prior knowledge or technical expertise, via the 4ART Marketplace starting August 2021. A new chapter for the world of art creators and lovers! As before, 4ART will soon ensure that copyrights for NFTs are protected and that a complete provenance and tracking of all works can be realized. The goal is to set the safest standard with their NFT+. 4ART is here to help you tap into this exciting topic and promise to provide the easiest and most secure solution for this new growing market.
Cetrains will think that the most important is the price, others the quality of manufacture and others still the general state of conservation of the work and the new millenials collectors will think more about what they can get from it, or simply how they can earn more. It is therefore to them that you will have to be most interested if you want to make good profits with your NFTs by having them resold several million times.
So of course the amounts spent in recent months by some collectors are totally exorbitant but let's not forget that the price is not everything and especially that on the blockchain the wallets work exponentially compared to what happened until now with simple Bank accounts and physical art. There are a multitude of ways to sell fine art today and we are only just starting to discover the potential of NFTs and digital arts. Firstly because the technology of devices currently on the market dates back a few years (2017/2018) and only the best equipped artists can access this type of information, but also because still too few art galleries have a really good grasp of the subject, directly internally. If you want to start creating your own NFT, you have a multitude of options and prices to create your NFT varying from 20€ to several million euros depending on what you want to create and according to the sharing and possession rights that you will define. Our advice is naturally to do it from existing work which will make them attain a measurable value to reality and to an existing work. This is the best way to go and it has become very easy with what you have been able to discover so far in this article.
To be included with your works when 4ART marketplace goes online simply follow these steps! Over 75,000 4ART users in 65 countries are already excited about the new digital works. We are happy to answer your questions on this topic and look forward to assist more artists opening the next chapter in the digital art market! To receive more information on the investments offered by 4ART and/or to become an NFT artist selling his art via our networks, you can arrange an appointment by filling out the form below and we will contact you via Zoom Meeting or Google Meet at your convenience to guide you through a free first interview with no obligations on your part.