Tips for creatives looking for success in the NFT industry

2022-03-06 by EPR Staff

NFTs are an extremely popular trend in the domain of blockchain, and are capable of transforming the representation of digital ownership. The rising popularity of NFTs will revolutionize the creative industry. Before cryptocurrency, nobody owned anything digital. Videos, articles, memes, and graphics were recycled, and there was no way to acquire ownership of a digital file. NFTs brought about a change. Creators can now sell, exhibit, or lend digital artwork at will. Given below are tips on how people in creative industries can benefit from NFTs.

Generate income

The NFT space is still in a nascent stage, which means there are opportunities for creatives to innovate and experiment. The structure of NFT sales is known to cut out the middlemen – galleries, institutions, etc. – that would typically control sales from start to finish. NFTs are an easier way for creators to produce work and reap the rewards of their creativity. There’s no need to pursue payments from clients, wait for feedback, or change work to fit the client’s needs.

Wide reach

There are several marketplaces that have developed around NFTs, and which allow people to buy and sell them. OpenSea, Rarible, Nifty Gateway are some popular ones. Initially, creatives made money at exhibitions and galleries.With NFT trading, art collecting has shifted to the internet. Social media platforms give creatives direct access to a global audience. A pre-existing online fan base helps creatives become popular in the NFT market.

Decentralized storage options

There should be a sustainable and immutable way to store NFTs. The best way should be to use a decentralized storage option. NFTs can be stored in crypto wallets. There are many wallets available, and they offer different levels of security. For instance, Metamask is a convenient way to connect to marketplaces. Still, it may also be slightly less secure considering that it may also be exposed to attacks. Platforms such as Nifty Gateway offer custodial wallets where the customer is not responsible for wallet security. This option may be more convenient for the wider audience.

Raise awareness and funds for important causes

NFTs are an innovative way to raise awareness and funds for important causes. They can be a vessel for change if there is a story behind the work. The causes creators care about are endless. For instance, EmoneeLaRussa,Emmy award-winning director and animator, has dropped her latest collection of NFTs on Voice, which will benefit her non-profit, JumpStart Designers.

Exclusivity and inclusivity

NFT art aims to create an inclusive environment for creatives to make money. The digitalization of art has been a democratiser. Art, once preserved for exclusive events like prestigious exhibitions and live auctions, has suddenly become accessible to all. Fine art is not only available to a certain segment anymore. There are hurdles to overcome, but NFTs are a fantastic tool for accelerating diversity and acceptance. They give artists of all backgrounds a means to display their digital artwork.