NFT Art Market | Best NFT Artists List
Non-Fungible Tokens are created with smart contracts on the reference blockchain but, unlike other tokens, are not interchangeable. Learn more in the article.
Non-Fungible Tokens, or NFTs, are gaining popularity in the digital content crypto market.
The opportunity offered by Blockchain technology to create tokens that represent a unique asset, both digital and actual, outside of the traditional centralized copyright industry continues to be appreciated by crypto users and beyond.
Indeed, starting with a GIF of a cat leaving a trail of rainbows behind it, the digital content that is represented by NFTs has become increasingly high-quality, plentiful, and valuable.
Among the various markets, art is the most embracing the idea of NFTs, ushering in NFT ART.
Yes, because the non-fungible token not only represents the uniqueness of the underlying work but also guarantees ownership of copyright, certifies it on Blockchain technology and, consequently, responds positively to the protection of the work and author against plagiarism counterfeiting, and fraud.
Digital pictures, tweets, videos, music tracks, articles, all creative content can be represented and sold today as NFTs. At what price? Well, the market decides!
The NFT of the first tweet by Jack Dorsey, founder, and CEO of the social network Twitter, was sold at auction for a whopping 1,630 ETH, or around $2.9 million at the time of purchase.
What are NFTs?
On a more technical level, NFTs are a category of tokens also known as collectible tokens.
In practice, Non-Fungible Tokens are created with smart contracts on the reference blockchain but, unlike other tokens, are not interchangeable. In fact, contrary to currencies (digital or fiat) for which each coin has a value equal to another same coin (1btc=1btc and 1usd=1usd), the NFT has its value that is not interchangeable with another NFT.
The value of each NFT is given by the market demand concerning the unique content or work it represents, which differs from those described by other NFTs.
In the smart contract, therefore, all the attributes are recorded (the work itself, the conditions of its purchase,, and the rights of the "owner" of the asset) through the hashing process (a binary sequence that creates the alphanumeric string of the NFT) which is unique to that Blockchain certified contract.
In this regard, it is also helpful to understand that each NFT standard differs from others precisely based on the peculiarities offered by the underlying technology.
Ethereum's blockchain is the innovative contract technology par excellence and its ERC-721 token standard was the first NFT representing the famous CryptoKitties, along with the ERC-1155 standard.
To date, NFT development has also arrived on other blockchains such as that of Binance Smart Chain with the BEP-721 standard or Tron with TRC-721 or even EOS or Cardano moment, uses the same standard as its native crypto ADA.
NFT Art: the market involving collectible tokens
As mentioned above, any creative content can be represented by an NFT. From Dorsey's tweet to the electronic music track promoted by Tesla's famous CEO Elon Musk, to the New York Times article sold at auction for 350 ETH, the equivalent of $563,000 at the time of purchase.
The markets involved in collectible tokens are art, fashion, film, gaming, and all sectors that offer unique collectible items.
As such, the digital art market is one of the most emerging markets to use non-fungible tokens. There are thousands and thousands of artists of genuine works of art who have turned to NFT ART.
Among the many is the resounding success in March 2021 of the most expensive NFT in history. It is the NFT of Everyday: The First 5000 days, a digital collage of 5000 images by artist Mike Winkelmann, known as Beeple, which sold for an impressive 42,329 ETH, or $69.3 million, at the time of purchase.
Indeed, even without exceeding this value yet, many artists are selling more of their "digitized" works thanks to NFT. Among them, many are mainly concentrated in the Bel Paese: Italy.
The best NFT artists
In recent months, NFT artists such as Bruno Cerboni, Marcello Baldari, Federico Clapis, Matteo Mauro, Ulisse Poggioni, Valentina Loffredo,, and Giovanni Motta have been active in Italy. They have also become leading players in the NFT ART market.
The works of the great Italian artists can be found on various platforms. One example is SuperRare's marketplace, which also features Giovanni Motta's NFTs. Back in November 2020, he sold his first work for 7.5 ETH. At this moment, 3D artist and sculpture Motta is the top-ranked artist on the platform.
Not only that, another project with an Italian imprint that is enjoying success is OVR, with its OVRLand virtual worlds attracting increasing interest from gamers and content creators, as well as companies that want to advertise in innovative ways.
OVR's latest debut is the tokenization of the Eiffel Tower in NFTs offered for sale on OpenSea, a popular Ethereum-based NFT marketplace.
In addition to the number of artists, the marketplace platforms on which to find NFT ART are also increasing and are of high quality, particularly in the theme of the NFTs they offer.
In addition to those already mentioned, there are the platforms of NBA Top Shot, to browse the history of the NBA, or Valuables, to buy tweets. In contrast, for those who want to buy the famous "kittens" that have given rise to the world of NFTs starting in 2017, the platform is CryptoKitties. Recently, the giant cryptocurrency exchange Binance announced launching its NFT marketplace in June 2021, thus joining the trend.
The Non-Fungible Token market is growing, involving and valuing artists and content creators on the one hand and all buyers of non-plagiarized works on the other.
Stefania Stimolo
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