The True Potential of wNFTs (#3): Digital Art and Collectibles

An introduction

In the infancy of NFTs, digital art was the pioneer that introduced the world to the new possibilities of blockchain-based assets. To many, NFTs were (and still are) synonymous with quirky digital images.

If you are in the least interested in NFT landscape, you are likely aware of collections like Crypto Punks — the iconic 10,000 pixelated faces that dominated 2022’s sales charts. And then there are the staggering multi-million-dollar sales of singular artworks, such as “Clock” by the enigmatic artist Pak, which fetched an astounding $53.7 million. This places it as the second-highest NFT sale ever, just behind 2021’s “Everydays — The First 5000 Days” which went for $69 million (!).

But meanwhile the landscape has transformed immensely. NFTs have evolved from being just about a few top-selling collections with eye-watering prices, which for many are difficult to justify, while the rest are falling into total obscurity. Today, NFTs hold the power to transform not just the art world, but a range of industries and societal structures. However, in today’s episode of use cases, we’ll still take a closer look at the benefits NFTs (and wNFTs as showcased by wNFTs.store) bring to the art world.

Authenticity and Provenance 🛡️

The art world has always been plagued by issues of forgery and authenticity. With NFTs, digital art can now be verified without a shadow of doubt. The blockchain records the origin of each art piece and the hands it passes through. This unprecedented level of traceability ensures that an art piece is genuine and can be linked back to its creator. For artists and collectors, this is like having a personal signature but one that is indelible and verifiable.

Bridging Artists and Collectors 🤝

Middlemen, galleries, and auction houses often dominated the traditional art market. NFTs provide a direct link between artists and collectors, allowing artists to sell their work directly. The decentralization removes unnecessary intermediaries and opens up a more streamlined, cost-effective, and personal way for collectors to purchase digital artworks.

Diverse Revenue Streams 💰

NFTs have blown open the doors to new avenues for artists. Selling work as unique digital assets, artists can garner revenue streams beyond traditional means. Whether it is selling limited editions or earning royalties from resales, the financial potential is vast and ever-growing.

Expanding Horizons 🌍

NFTs empower artists to reach audiences across the globe. With just a few clicks, artists can showcase their work to an international audience. This global exposure is invaluable in enabling artists to secure a more diverse and engaged following.

Protection of Intellectual Property 🧠🔐

Artists often had little recourse in protecting their work. With NFTs, the blockchain records create a permanent, unalterable ledger of ownership and transactions, making it significantly easier for artists to assert their rights and ownership.

wNFT.store — A New Wave 🌊

wNFT.store is riding this wave by providing a platform for artists to tokenize their art into wNFTs (web non-fungible tokens), which are not just digital representations but also come with the utility and real-world benefits. Our exclusive art collections aim to bridge the gap between art and functionality.

One such example of a standout collection is the Gason Kanson collection, which brings art and social impact together. Gason Kanson is actively involved in social initiatives, ranging from women’s empowerment and support for orphanages to job creation and technology access in rural areas. A portion of their profits is allocated to these areas of social betterment. By using the SourceLess technology and through their collaboration with wNFt.store, they aim not just to entertain, but to educate, enhance healthcare, and promote environmental sustainability.

By tokenizing art pieces that have a real-world positive impact, wNFT.store is pushing the boundaries of what art can accomplish.

Go to wNFT.store and experience how wNFTs are unlocking another dimension of art, building bridges between creators, collectors, and communities.

wNFT Store - https://wnft.store
SourceLess - https://www.sourceless.io