Artists today, can sell their art by themselves without needing a gallery to house their…
According to a 2022 survey by Fortunly, one in every three American adults accumulates physical items as an investment or a hobby. In addition, 25% of persons who identify as collectors also participate in NFTs (non-fungible tokens). Meanwhile, NFTs are collected by 42% of millennials.
Since the influx of NFTs into the art market, analysts, collectors, dealers, and blockchain experts have attempted to forecast the industry’s fate. Some of the big questions novices ask are how to turn fine art into NFT. While some regard NFTs’ democratizing potential as their most valuable feature, others argue that to fully profit from such an open market, some regulation is required.
Verse, a new NFT platform, aims to help bring order to the NFT industry. The firm also possesses the necessary muscle to do so. Verse launched its first selling exhibition, helmed by the platform’s head of exhibitions, former Tate Britain associate curator and art advisor Leyla Fakhr, following a $2.4 million seed round from well-known investors.
If you’re wondering how to turn fine art into NFT, remember that when you convert an image to an NFT, the artwork isn’t kept on the blockchain. It is the artwork’s data that is saved.
Addressing the Metaverse Art Market
Verse, like other sites that bring established art world tastemakers into interaction with the NFT market, was created partly to address a problem unique to the metaverse art market. Logging into the most popular NFT platforms and looking for art might be challenging.
“The goal is to establish a platform where artists can have something almost like an Amazon store, where collectors can purchase items from people who have a strong reputation, basically a reputation to lose,” says Verse CEO Jaime Gourlay.
On the other hand, forming an NFT curator class could make the market more distinct, but Gourlay sees it as the first step toward a truly democratized digital art market. Verse intends to simplify the technical aspects that can make purchasing and selling NFTs tricky by providing a simple, user-friendly form that allows users to buy NFTs with both fiat and crypto without requiring a third-party crypto wallet.
You must develop an audience willing to pay for your work before learning how to turn fine art into NFT. Moreover, It requires a different set of skills than most artists are used to.