Non-fungible tokens (NFTs) represent the future of art created from blockchain technology. Through tokenization, the relationship between artists and collectors of works is tightened in an entirely digital universe.
In an interview with Panorama Crypto, Holaplex COO Matthew Stotts highlights how NFTs have revolutionized the art market. In addition to providing more freedom to creators, the non-fungible token democratizes access to the art market without the need for some sponsorship.
“NFTs remove barriers for artists to reach their true fans and collectors, wherever they live or work in the world. Making art with NFTs does not require any approval, authority or sponsorship”.
NFTs represent “art without permission”
The crypto market is experiencing a new fever sparked by NFTs. From digital arts to metaverse games, non-fungible tokens conquer various sectors, creating a new market for digital arts.
For Matthew Stotts, NFTs represent a new kind of art that doesn’t need permission to exist. Unlike the traditional art market, non-fungible tokens have become popular among artists who break out of the conventional.
“This new form of ‘permissionless art’ is becoming increasingly popular among creators and collectors”.
With platforms like Holaplex, it is possible to develop NFTs that can easily be traded on the crypto market. In addition, creators now have complete autonomy over the art that is turned into tokens.
The NFT market represents much more than extra income for users who create tokenized art. According to Stotts, some creators already survive entirely on this market, using Holaplex to develop their digital art.
“We are now in a world where creators have 100% control over their creations and can make a living selling their art online. At Holaplex, we have some creators who work full time on our platform”.
Holaplex is a platform that has tools that assist in the creation of NFTs in the marketplace. In addition, the platform allows for the trading of tokens, where artists can set up virtual stores within the site itself.
According to the platform’s COO, thousands of digital artists are already part of Holaplex, which was developed from Solana’s blockchain technology. Moreover, with cheaper fees than other famous networks in the crypto market, transactions are fast on Holaplex, which also serves as a storage location for the non-fungible tokens.
“Holaplex creates simple, easy-to-use tools for independent creators and artists to create and share their NFT projects. Collectors use Holaplex because transactions are fast, the digital creations they buy are stored permanently using IPFS or ARweave technology, and there are no expensive gas fees like Ethereum”.