LaPresse Les NFts vont changer les regles du jeu

Trussart, Antoine: Les NFT vont changer les règles du jeu, La Presse. Montreal, QC (April 4th, 2021): https://www.lapresse.ca/affaires/economie/2021-04-04/les-nft-vont-changer-les-regles-du-jeu.php


Excerpt

Translation: […] Non-fungible tokens are taking the markets by storm. Martin Ostachowski is a digital visual artist who sells his works through the blockchain with NFTs. […]

A source of income for digital artists

NFTs come to help digital artists who have always had a problem with marketing their works: how to sell a work of art that took tens or even hundreds of hours of work, but which is contained in a file on a hard drive and which is therefore easily transferable and copiable?

“NFTs are going to change the rules of the game. Before, to limit the distribution [of digital works of art], you had to put what is digital on physical media. NFTs come to settle this paradox.”
Martin Ostachowski, Montreal-based digital artist who sells his works with NFTs

One of the advances that this technology allows is that artists can be paid royalties each time their work is resold. This practice has become the norm on platforms dedicated to NFT-certified art. The royalty percentage hovers around 10%.

“Yesterday, I sold a work and my royalty was higher than the price I first sold it,” says Martin Ostachowski.

These royalties allow experiments on the part of the artists. Beeple, a true figurehead of the so-called crypto art movement, has sold many of his works at an initial cost of US $ 1, so that they are accessible to everyone, knowing that he will be able to receive royalties on resale. One of his works bought for US$ 1,000 last December is now estimated to be worth more than US$ 300,000.

[…]

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Cloud Hash One
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20 x 20 in. / 50.8 x 50.8 cm

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Last update April 18, 2021

Martin Lukas Ostachowski

Geometric abstraction artist based in Tiohtià:ke/Moniang (Montreal), QC, Canada. I explore the blockchain through the subject of clouds in physical and digital mediums. » About Me

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