Why do I sell 1/1 NFTs tied to my physical paintings?
- transparency of sales
- strengthening artist reputation
- establishing buyer trust
There are benefits to being paid in cryptocurrency for my physical paintings but there are also drawbacks related to the fact that all my sales since 2018 have been direct via cryptocurrency rather than through the commercial gallery system I used to sell my work through. This can cause some issues for potential collectors as they will have to trust me, the artist, that the prices listed on my website are of accurate market value instead of buying through a reliable intermediary – a commercial gallery.
An artist’s reputation is established in large part by the pricing and successful sales of their work – transactions and information which generally are managed and provided by the gallery or galleries representing the artist. Traditionally, the gallery works with the artist to set prices and price increases, helps build the artist’s reputation, introduces the artist and their work to collectors/patrons etc. Now, without a commercial gallery alliance and the buyer/gallery trust that is built through this system, it is up to the me to instill confidence in collectors. As the majority of my art collectors are not Scotland-based and a studio visit is unlikely, the easiest way to build this confidence is to be able to provide access to accurate information of my past non-gallery sales.
An NFT is the perfect solution for this dilemma. Anyone interested in one of my original works can visit OpenSea and quickly and easily verify the amount paid for my previous physical paintings. The sale of the affiliated NFT is recorded permanently and immutably on the blockchain. This information confirms date of sale, price paid, and keeps a record of all previous owners of the NFT. Therefore, this information independently validates my reputation and instils confidence in a potential buyer’s decision to invest in my work.
Lastly, the NFT adds additional value to the art investment, proven by the fact that a number of my NFTs have sold for more than their physical painting counterpart. The buyer of the artwork and affiliated NFT can decide to keep the collection of two together or, if they so choose, they could sell one and keep the other at any point in the future.
Lastly, the NFT adds additional value to the art investment, proven by the fact that a number of my NFTs have sold for more than their physical painting counterpart. The buyer of the artwork and affiliated NFT can decide to keep the collection of two together or, if they so choose, they could sell one and keep the other at any point in the future.
Why do I sell an NFT image as well as NFT animations derived from the same artwork?
I often create an NFT animation in the form of a video or GIF from the same physical painting that has been or will be sold through the purchase of the 1/1 digital image. I’ve explained the reasoning behind the 1/1 image NFT above but with regards to the animation work, in my opinion these are completely different works of art. Through the animation process I am able to create an entirely unique audio-visual experience than from the physical painting or image of it. These artworks are connected; the painting, the digital image, and the animation but they are all very much unique, independent works of art that together blur the lines between the material and digital art worlds.
