What does it mean to own an NFT of fine photography artwork? And what does it mean to choose to own an NFT of fine photography artwork over a physical print?
When we think of owning a physical fine art photography artwork we might imagine it as an investment of durability, despite its wonky hangings on the wall, listed 1/100, delicately fading with rays of the outside sun. We are certain, that this physical aspect of the work makes it unique, something we can feel, and touch, and put on display for others to see. When we imagine owning NFTs of artworks, our initial thoughts are of our artworks lost amidst a dark screen laced with neon green code, folded neatly into a pixel, as they decay in the digital expanse of a computers belly.
Where are our artworks? Where did they go? How can we retrieve them, show them of to the world? Share them with others?
Despite, an approximate of over 80% of U.S citizens awareness of NFTs, and a further 4 million U.S. citizens having bought or sold NFTs, there still remain great misconceptions that underlies their value as a product. Collectors fear their works supposed intangibility, and artists worry about the modes of production that promise their art will endure. Contrary to undoubtable air of skepticism, there are in fact a variety of ways to display your NFTs both in the world of the real, and in digital realms.
In the world of the real, IP rights enable the printing of your NFT’s- or if you choose, digital frame companies connected to your wallet, such as such as Tokenframe, Dragon Touch, and Token Cast, can project your works in the space of your home.
In digital realms, twitter blue members can link their accounts to their wallets, and set their NFT as a hexagonal shaped twitter profile picture– and there have been further developments with real world and virtual NFT galleries across the globe where collectors or artists can display their works. Galleries like ImnotArt, Out East, Black Dove and the Museum of Modern African Art, offer both virtual and physical galleries where collectors can display their NFTs, in addition to collectors increasingly ability to display their works through virtual exhibitions within the wild wanderings of the metaverse.
Traditional auction houses such as Sotheby’s and Christie’s have also been vocal about their support of NFTs and have conducted numerous high-profile exhibitions. Sotheby’s, for instance, recently concluded the second edition of its Natively Digital curated NFT sale. These novel avenues have begun to reconfigure how we conceive of owning, and displaying NFTS.
What does this mean for collectors? This means that collectors can put their works on display, in the world of the real- if they choose to. Their NFT digital artworks, are also each individual, unreplicable, and highly secure, due to the blockchain’s unique signature. Digital assets such as NFT artworks, from the perspective of the collector, are a unique investment, that will endue far longer than artwork that is bound only to the world of the real. In buying artworks of NFTs, should collector decide to resell their works, there is a sole channel through which they can process this transaction that is efficient and transparent, further adding to the security and uniqueness of the given investment.
What does this mean for artists? This means that artists are not restricted by production, their middlemen, concerns regarding production, reprints etc. Their sole focus is that of unbridled creation, which in turn, positively impacts the works that their collectors are investing in, increasing the investment value.
What does this mean for the rest of the world? As NFTs omit the need for middle men, or physical art galleries, the buying and selling of NFT art is direct, cost, and time efficient. You can choose to have your NFT displayed in an NFT gallery, or in your house with a digital frame, but you can also have it privately stored within your wallet. Additionally, not having shipping, and mass production of frames, paper, press releases, etc. is not only cost and time effective, but also eco friendly.
Though there is great value in all fine art photography– whether physical or operating through digital realms– due to its powerful ability to situate historical moments, artefacts, and people within the world, there is also immense power in producing work into a world that promises greater security, simplicity, and endurance, so that your works don’t end up dizzily on a forgotten wall.
