Cryptocurrency, that’s totally changed the way we think about currency, is now popping up in the art world. Merging cryptocurrency technologynology with art has created something new called ‘bitcoin art‘. So, we’re diving interested in the exciting world of bitcoin art, and we’re going to answer five super frequent questions about it.
What’s this ‘bitcoin art’ stuff, anyway?
How does this bitcoin art thing actually work, tech-wise?
So, why is everyone into bitcoin art?
Can you even sell bitcoin art?
Is this bitcoin art thing just a fad, or is it here to stay?
What’s this ‘bitcoin art’ stuff, anyway?
Bitcoin art is any kind of art that has something to do with Bitcoin, like the logo, the blockchain aspect, or the actual money. It’s anything from computer-generated art made with blockchain elements to physical art that you can purchase, dispose of, and inspect with Bitcoin.
How does this bitcoin art thing actually work, tech-wise?
Technically, bitcoin art uses blockchain technology to make sure it’s the real deal and to monitor the history. When you make a piece of bitcoin art, it is usually converted into something called an non-fungible token, which is like a unique digital voucher. This special certificate gets linked to the art, so you can determine ownership and transfer it via the blockchain network.
So, why is everyone into bitcoin art?
Bitcoin art is extremely popular due to several factors. First of all, it provides artists with a novel avenue for artists to showcase their work and experiment with technology.
Furthermore, collectors say, ‘Hey, this could be a significant investment!’ As the value of the art may increase along with the value of Bitcoin. Additionally, it attracts people who have an interest in crypto and art.
Can you even sell bitcoin art?
Certainly, you can sell bitcoin art. In fact, it has already been sold for substantial sums.
Typically, you can sell it on these online platforms which are dedicated to NFTs, and purchases are made using Bitcoin or other cryptocurrencies. It operates similarly to selling conventional art, but with this added benefit which provides an incredibly secure, and a transparent and permanent record of ownership.
Is this bitcoin art thing just a fad, or is it here to stay?
Whether bitcoin art will keep being a thing is a substantial discussion. On one hand, the technology that supports it is significantly more environmentally friendly compared to the methods we use to produce traditional art.
But on the other hand, we can’t overlook how Bitcoin mining causes environmental damage. So, whether bitcoin art will be around for a while is contingent upon what occurs with cryptocurrency and whether artisans and patrons continue to appreciate it.
