Now everyone is hearing about new technology like NFT. Many people have very different opinions about Digital Art for Life. Someone believes that people pay millions of dollars for air, someone – that these are undervalued assets of the future. Someone thinks that this is a quick way to make money by drawing a simple picture. But for someone, it will be a way to show their talent and make money on it. What can be said about the modern NFT market, and what will happen to it next? Can charity be considered a good deed here, or is it pointless? Let’s look at this in a little more detail.
The current state of the NFT market
NFTs have gone far beyond the gaming world (although they are used quite actively there, too): artists digitize and sell their paintings. So, if you draw well and can transfer your art to the monitor, you have every chance to join other participants in the NFT market.
Tokens could forever change the system by which digital content copyright works. This helps to protect cryptographic pictures and videos from illegal copying. The NFT also eases the process of copyright disputes for musicians and allows streaming services to license films and series more quickly.
According to the Gartner Hype Curve, the technology is now at the peak of its development and population among digital network users. The Hype Cycle annual report contains technologies that have a big impact on business (and maybe even the economy) as well as society. If technology gets there, like NFT, then it has a future for the next 3-10 years for sure. In the coming year, the popularity of Digital Art for Life may slightly decrease. But when people start to study it in more detail, then for sure, it will become as familiar as cryptocurrencies.
Who issues NFTs? Artists, singers, fan clubs, etc. By selling these tokens, they first receive a donation. In addition, on some sites, each subsequent resale also gives a reasonably significant percentage to the NFT author (its issuer). How is selling NFT for charity different from charity auctions? We dare to assume that the most common charitable foundations, such as the church, will soon begin to issue NFTs. In the current conditions of the war in Ukraine, its residents also use NFT for charity to get additional help.
In the short time of the popularity of the NFT, a wide variety of projects were created. Continuing the theme of helping Ukrainians, the Digital Art for Real Life project was created. It sells pictures, and the money goes to the army and is also used to help the affected people.
There is also the Sheqonomi project, which helps children from various developing countries. This allows children access to modern technologies and education. Together with the founder of the project, Anu Bhardwaj, the partnership and the idea as a whole were supported by UNICEF or the United Nations Children’s Fund. As a result, they managed to create a special collection of “Patchwork Kingdoms.” All the money that the organizers received for the sale of their pictures went to support Giga. We think it’s just an incredible idea to make children happy and have something new and modern in your collection.
Thanks to this technology, the whole world will recognize many unknown talents. So, we think Digital Art for Life is a great way to appreciate people’s creativity and understand that you can really be good.
What is the eventual fate of NFTs?
Now you can already see that the excitement for this idea is decreasing. But as we all understand, it won’t disappear quickly. Many of you may say that now will be the right time to use Digital Art for Life (and you will be right), but not because it will soon lose its essence. Many experts and active users of this technology claim that new ways to develop this niche can be found. Here are some examples of how this can happen:
- Financial instrument. Considering that NFT is a unique product with a unique value, this is quite possible. It will allow you to invest with this technology and use it as payment for anything, even tickets to various events. In addition, you can make a profit not only by acquiring NFTs but also by creating them yourself. If you have an interesting idea or even your own style of art, we think that among all NFT users, there should be someone who appreciates it. It is also possible to use NFT projects for charity.
- A virtual reality. The modern world can no longer be imagined without digital technologies. It has become a full-fledged part of our life and, for some, a whole meaning. Now each of us is striving to use more and more virtual network opportunities for our convenience and to reduce the time for various actions. Well, thanks to the NFT, you can bring some of your physical possessions into the digital world.
- Art and entertainment. As we have already said, many artists have already begun to actively use NFT. Some transfer finished real paintings into a digital image, while others create art directly on the computer. This allows people to see more artists from different parts of the world. In addition, paying for such art is much more convenient and faster. By the way, even many popular personalities, such as Snoop Dogg, use this technology to monetize their work in a new format. In addition, the advantage of NFT is that several people can own one picture at once, which will reduce the cost of NFT and open access for you to use it.
Summing up, we can say that NFT is a new and quite successful solution that satisfies several needs of different market participants at once. The future of the niche is quite rosy. Yes, now it may seem like a cool toy, but in the future, it will become a common thing for each of us. The same goes for the NFT auction for charity. We can say that this will become a new platform for selling digital art, which won’t lose its relevance for the next few years at least. So why not try to delve into this area right now?