Crypto Art Digital Painting Business Opportunities

Crypto Art

undercover.co.id – The development of the digital era has influenced many aspects, including the artistic aspect. Previously, the art of drawing or painting generally used conventional media such as paper, canvas and used tools such as brushes, watercolors, oil paints, now painting has evolved into the digital art era using multi-media platforms and various software.

In recent years, the art world has evolved into cross-border business opportunities by utilizing blockchain technology known as Crypto Art.

Said by E. Putra, a member of the Crypto Art community, this artwork can be accessed in digital form, recorded in the blockchain ecosystem, distributed forever, and can be purchased freely using a unique token.

Crypto Art can be verified using a Non-fungible Token (NFT). NFT itself is a special token that represents an identity that cannot be replicated and is connected to a single Crypto Art work.

This token can be placed in various digital work formats such as JPEG, GIF, MP4 or music. The token is what will “prove” ownership of the original files stored on the blockchain that can be accessed from any computer in the world.

In the crypto world, a blockchain acts as an art expert who will verify the authenticity of a work. Crypto Art itself lives in the blockchain ecosystem called Ethereum.

The emergence of Crypto Art, makes it easier for collectors and artists to meet across countries.

“Just like the use of blockchain in general, every purchase of artwork on Crypto Art, can use crypto currency or what is known as tokens such as Bitcoin, Ethereum, Litecoin and others as long as the token is read by the NFT,” said E. Putra.

The artist retains the copyright and benefits from his own artwork in the form of coins from each transaction that takes place. Abroad, there have been many artists who have successfully utilized this technology, at least nine artists were considered successful with their Crypto Art work throughout 2020, including Beeple, Blake Kathryn, and Giant Swan.

Crypto Art in Indonesia

Departing from an issue that is currently being discussed on social media regarding accusations of plagiarizing other artists’ artworks which are then traded through various platforms, it turns out that Crypto Art technology in Indonesia itself is also developing and has only begun to be popularized in the last three months.

“Based on searches on various platforms and NFT Space, Twisted Vacancy – the name of the persona that was built by Indonesian artists to work by relying on blockchain technology – was active in building systems as well as introducing Crypto Art in Indonesia long before the industry was booming like it is now,” said Putra.

Twisted Vacancy sees that Crypto Art has a good opportunity to develop in Indonesia, and can even build new business models. Plus, Indonesia has many potential artists with diverse works and characteristics. This condition is considered to have a very large opportunity to develop and be known overseas.

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Just like the emergence of blockchain for the first time in Indonesia, where its working and security mechanisms need to be studied, the emergence of Crypto Art in Indonesia also takes time to understand. Including the categorization of Crypto Art as modern contemporary artwork.

Scanning can be made on various Crypto Art platforms such as SuperRare , Nifty Gateaway, KnownOrigin. “Hopefully, this platform can provide good benefits for artists in Indonesia and can even make money from their work,” concluded Putra.

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