Eight ways people are using NFT art every day

“NFT art has come out with a psychological approach to the digital world, with art describing the digital world coming to full fruition. Non-fungible tokens (NFTs) are one-of-a-kind digital assets that represent ownership of something, usually a collectible or a piece of art. But amid all the buzzing and record-setting sales, many people are still scratching their heads and inquiring about the practical aspects of NFT art: What, exactly, do people do with it?

Whether you’re a curious bystander, a fledgling collector or an artist taking a hard look into this digital frontier, this blog post will parse the possible uses for NFT art and explain why it’s about more than just flashing in the pan.

Understanding NFT Art

Before we get into what people do with NFT art, it’s important to understand the foundation. “NFT” is short for Non-Fungible Token and that means it is a unique digital item that can’t be replicated or replaced. NFT art typically lives on blockchain networks such as Ethereum, where it’s bought, sold and stored. Courtesy of blockchain, the token provides proof of ownership and authenticity, resolving a problem of duplicity common among conventional digital art.

With that groundwork laid out, here’s how people are working with and using NFT art today.

Purchasing NFTs for Personal Appreciation of Art

Owning NFT art, at its core, can feel like a deeply personal affair. And many of the collectors of these digital pieces are mostly in it for the love of art. NFT art collectors “display” their purchases in the form of digital frames, in VR galleries, or even on their social-media profiles, much as people hang traditional artwork in their homes or offices.

Digital Frames

Companies like Infinite Objects and Tokenframe sell physical digital frames that display NFT art, enabling collectors to display digital creations in the physical spaces around them.

Virtual Galleries

You can host or visit a gallery and in sites like OnCyber or Decentraland and customize the space where you show off your NFTs.

For these collectors, the attraction isn’t just the art’s visual appeal, but the fact that it is a one-of-a-kind piece linked to innovation and creativity.

Backing for Artists and Creators

One of the most significant ways people use NFT art is to directly support artists and creators. Conventional art sales often include middlemen, who can take a big chunk of the profits. The NFT model, on the other hand, gives artists power, allowing them to sell directly to collectors, through platforms like OpenSea, Rarible and Foundation.

And NFTs typically come with smart contracts that guarantee creators a share of any subsequent sale. This has changed the relationship of artists with their fans as it brought about a fairer revenue-generation model and direct access to the audience.

For example:

An artist could mint a scarce edition of NFTs, offering unique benefits, like early access to new works or an invite to a private event.
Buyers get a unique digital piece but also support a creator’s career in the long term.

Investing in NFT Art Trading

Not every NFT art owner is in it for the looks. Others view NFTs as a profitable investment. Like collectible trading cards or original art, some NFT art appreciates in value dramatically over time, becoming especially prized assets.

High-profile NFT sales, such as Beeple’s “Everydays” piece that sold for $69 million at Christie’s, have helped to drive that element of the market. Similarly, projects like CryptoPunks and Bored Ape Yacht Club have provided enormous returns for early supporters.

But trading NFT art as an investment is a different ballgame, one that requires an eye for trends, a deep understanding of the market and a stomach for risk, since values can rise and fall sharply.

Making NFT Art a Symbol of Social Status

Owning an NFT is also a way of signaling social status, not unlike owning a luxury watch or handbag, or a pair of limited-edition sneakers. For others, collecting and showing off high-profile NFTs is digital clout in the emerging virtual economy.

Profile Picture (PFP)

NFT fans often set their high-value NFTs as their profile pictures on social media. CryptoPunks and Bored Ape Yacht Club have turned into instantaneously recognizable status symbols online.

Community Access

Owning specific NFTs can provide access to exclusive clubs, events, perks and more. For instance, members of Bored Ape Yacht Club get exclusive access to private parties, networking events and the chance to buy NFT drops before they become available to the general public.

For those seeking community and status, NFT art is about more than having something nice to look at yourself. It’s about shared identity and membership in culturally significant groups.

Using NFT Art in the Metaverse

The emergence of the metaverse has created new avenues for NFT art. The online worlds, like Decentraland, The Sandbox or Somnium Space, let people build virtual spaces where NFTs are not just displayed but actively used as part of the environment.

For example:

You might also use NFT art to decorate a virtual house or gallery on the Decentraland estate you own.
Others buy land in metaverses and curate exhibitions, mixing and matching various NFTs, from art to collectible figures, that offer rich fan experiences.

Companies and brands are also diving into the metaverse to produce immersive campaigns and brand extensions supplemented with NFT art.

Licensing and Commercial Uses

Some NFT art includes built-in licensing rights that allow owners to commercially use the artwork. For example, owning an NFT from the Bored Ape Yacht Club also gives its holder rights to use the picture in commercial projects. Others have incorporated their Bored Apes into branding for merchandise, or even built entire businesses around the property that their NFT demonstrates.

This licensing flexibility adds another layer of utility to NFT art: It becomes valuable beyond the mere digital.

Participation in the Digital Community

NFT art dovetails with dynamic online communities. Collectors frequently convene on platforms like Discord, Twitter and Clubhouse to talk about art, trade tips and express excitement over their collections.

These groups can serve as platforms for:

Talk with fellow addicts.
Learn about future trends and projects.
Vote on community governance and decision-making for NFT projects through decentralized autonomous organizations (DAOs).

That sense of connection and being part of an NFT community is invaluably valuable to many who own it.

Utility + Innovation in Experimenting

Utility + Innovation in Experimenting with As can be expected, as Lands who were confident of success.

Finally, NFT art is serving as a laboratory for experimentation. Some artists and developers package NFTs with even more bells and whistles for added interactivity or “utility.”

For instance:

NFTs can also be used to grant access to unique content, such as music tracks, video files and live podcasts.
They can provide access to VIP parties or the right to vote on the project’s development.
Interactive NFTs also grow over time or alter their appearance by engaging the user.

This fusion of art and technology enables NFT creators to experiment with methods of self-expression and to interact with audiences on a new level.

What Is Next for NFT Art

NFT art is still a young and new field, and there will undoubtedly be a wide array of more sophisticated applications. Between a blockchain that continues to grow and the metaverse catching on, the place where art meets tech meets community is instantly reshaping the artistic landscape.

Whether you are a collector who wants something to look at, an investor seeking the next thing, or a noob who’s curious about owning part of the internet, NFT art has everything for you.

If you’re ready to experiment, do some research on platforms and make small purchases as practice. Who knows? Pretty soon you could own a slice of digital art history.