Art is Becoming the Next Billion Dollar Blockchain Use Case & You Don’t Need Millions to get Started.

Let’s start with some Case Studies.

$55,555 USD Record for ‘Picasso’s Bull’ by Trevor Jones

Josie Selling $42,200 USD Worth of Art on Nifty Gateway just last Thursday.

Jose Delbo, the original Artist for Marvel Comics selling his 1/1 Pieces from $4-$10,000 USD. (I just bought the below piece for ~$4,700 USD),

Digital Images for 10s of Thousands? WHY? 

This is where blockchain comes in.

Each of the above Art pieces is represented on the Blockchain by an NFT. An NFT stands for ‘Non Fungible Token’ that sits in your digital wallet.

NFTs are used to represent Cryptokitties, Virtual Decentraland Land, Collectible Cards and in this case, Art.

These tokens are basically equivalent to real life receipt of ownership.

In the art world, it’s just as important to keep your receipt or ‘proof of purchase’ from the Artist along with the Art piece itself.

So now, using blockchain you can see that I own the token that represents this piece from Superrare,

The top is my ‘wallet address’. Any $ or Art Tokens or anything sent to this address goes to my wallet.

The bottom red square shows the token ID which represents the recent art I purchased.

SuperRare and other projects scan my wallet/blockchain, pick up this data and verify that I own this piece,

Here’s 3 Pieces I recently purchased from Superrare. (Neo is my Superrare Profile).

Still Confused?

You don’t HAVE to understand the Blockchain stuff.

Basically it’s valuable to Collectors because they can now purchase Art online with a verifiable ‘receipt of acquisition and ownership’ via blockchain,

And it’s valuable for Artists because they can now SELL their digital creations as tokens to collectors using blockchain.

Artists can set these as 1/1’s or maybe they want to release 10 pieces of a certain Art. They can, and the relevant amount of tokens will be minted.

Eg, Trevor Jones sold multiple versions of his art. Bronze(25 pieces), Silver(10 pieces), Gold(3 pieces) and Original 1/1.

The 1/1 went for $55,555 as there’s only 1 version of it but the others went from $200 – $2,500 originally.

After they sold out during the drop, some have been picked up for 15x the price on the secondary market! Like the Bronze version of Picasso’s Bull which most recently had a sale of $3,000USD!

Opportunity = Industry Growth

The best industries are those that bring investors and creators together in a sustainable way.

This industry has already seen $Millions move through it. Superrare alone has almost hit $2M in sales volume not to mention MakersPlace, KnownOrigin, NiftyGateway, etc.

Art platforms are constantly topping the NFT charts on Opensea.

Art piece sales history can be read on to see which ones have been sold multiple times/flipped.

Like this one, where the seller made a healthy 3x+ on the piece!

You don’t even need much $ to get started. For example, this piece is the ONLY Jose Delbo Comic that he has both Written and Illustrated,

There’s only 250 of them and they’re still available at ~$75 a piece.

Or these beauties by Primal Cypher who had a collab with Jose Delbo, I picked up for ~$50-$80.

Good Art will appreciate in value so far collectors it’s exciting to try pick up early Art from Artists they enjoy and feel will have a bright career. 

As they get more popular and have more collectors watching their work, their earlier pieces will go up in value thus an interesting investment opportunity for collectors.

Projects like Decentraland where you can build digital galleries to share to showcase your Art NFTs and buy them straight with crypto also give more fuel to this rocketship.

Eibriel on Twitter: "At #Crypto Valley Art Gallery, @decentraland - Amazing  art here!… "

ALSO, it’s no secret that Crypto has some MASSIVE whales. People who’ve bought Ethereum at $2, 4-5 years ago and are now sitting on a gold mine, (Millions), looking at ‘investments’ to throw their money at.

So what do you think is going to happen to the ‘Blockchain Art’ Industry as more people get Crypto Rich?

All of the above makes me truly feel that this industry be the next Billion Dollar Blockchain Use case. Especially considering all of this madness has been thriving during the last 2 years of a crypto ‘bear’ market 😉

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