NFTs Blew Up Art — UniArts Will Blow Up NFT Artist
When NFTs started trending in early 2021, the momentum they gathered allowed them to soar to unfathomable heights, reaching over $300 Million in trades in as little as a month at their peak. It was as though the printer had been reinvented, and people’s mouths had begun to water at the very sight of them.
Unfortunately however, following a gradual decline in trades, NFTs saw a sharp fall during the early days of June, somewhere in the ballpark of 75% as of writing.
But Why?
Some speculate that the hype died down, whereas others attributed the crash to market stabilization, and reality is perhaps somewhere in between. There is an element of truth in the hype aspect of NFTs, as a lot of people seem to have overestimated their capabilities, and by extension, their worth.
The use cases for NFTs are vast, and they are in the process of revolutionizing the digital world, and it seems that in the process of doing so, they overexcited a few too many people eager to invest in something new.
But investments and crashes aside, NFTs still serve a meaningful and practical purpose in the world of arts and art collecting, but what exactly does it mean for this particular category, and where does UniArts come into play?
NFTs & Arts
While not precisely the act of selling the art itself, an NFT represents a digital certificate for its respective digital asset, and the token itself is unique and irreplaceable. Artists can use NFTs to sell a version of their work that in some sense is official — unique, in a sea of copies.
It isn’t just art that can be sold as an NFT however; virtually anything that can exist in a digital format can be sold as one, such as trading cards and sports highlights, but arts are an interesting case.
For starters, artists can earn royalties every time their NFT is re-sold, ensuring that the original artist is always paid a certain percentage for their work from future sales. This also means that in the case their work sees fame in the future, they can earn proportionally more as the NFT gets sold back and forth, creating a level of fairness for a previously underappreciated artist.
More importantly, however, it is a means for small artists to make a living by selling their works in a free and decentralized environment. Where in the past they had to meet the artificial standards of traditional galleries, today, many NFT marketplaces are open to the masses.
However, it is far from perfect.
The Age-Old Problem
Despite having this newfound ability to sell, small artists will still come across a problem that has troubled them for centuries: recognition. In order for new artists to sell their NFTs at significant prices, they have to be in high demand, i.e. the artist needs to have some level of fame and recognition.
It is true that they might be able to achieve this with time, effort and commitment, but that doesn’t guarantee results; attention spans on social media are rather short, and there are a lot of artists out there trying to compete for a place in the mind of the art connoisseur.
The Problem Ends Where UniArts Begins
UniArts connects the artist with the connoisseur, and provides both parties an incentive to engage with one another. Those who stake the platform’s native token UART can vote on their preferred NFTs, and receive UARTs as a reward. Similarly, artists can receive UARTs for obtaining votes, and can even receive special grants when they reach a certain level of popularity.
The end result is the democratization of art; the better appreciation of arts and their subsequent improvement through the voices of the community. UniArts is to artists what NFTs are to arts: a fair and promising opportunity.
