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Source: https://me.mashable.com
In a world where everything is revolutionizing and taking the digital path, art too, has taken its due course into the world of digitalisation. Not just any transformation, but something that the future has in store for the world of art and its artists.
With the advent of crypto curries, NFTs are something that has been taking the art world by storm. So, what are NFTs? Non-fungible tokens (NFTs) are something that transforms digital works of art and other collectables into unique verifiable assets that can be traded through blockchain technology.
While the new way of transactions is catching up with the world, Middle East’s artist has made a name in the domain of NFTs. Award-winning contemporary artist Kristel Bechara became the first Arab female from the UAE and the Middle East to launch an NFT tokenised art series; two of which was sold in just under 24 hours.
The first piece – Satochi Nakamoto by Kristel Bechara was listed in the Beauty in Diversity and DeFi collection on Foundation.App. The artwork was sold in less than 24 hours by a NFT art collector who was described in a statement as “a renowned NFT collector”, who paid 1.10 ETH ($1,950) for the work.
A second piece, Byzantine General’s Shield, too, was picked up quickly and was brought for 3 ETH ($5,324) by the same collector who had previously bought Kevin Roose’s New York Times NFT article for 350 ETH ($600,000).
The artist’s latest piece –FOMO is also up for sale and can be purchased on the platform Foundation.App.
Post the quick sale of the art, a statement from the app read, “This artwork is a representation of the state of FOMO, and how significant the invention of cryptocurrency and DeFi is and by not adopting or embracing this technology right now, collectors will not just have the fear of missing out, but they will actually miss out on the opportunity of being a part of the future.”
With the successful sale of her artwork, Kristel Bechara will now be accepting payment via cryptocurrencies for online and offline sales. All of the artwork purchased from her studio will have an NFT certificate which will be optional for clients with crypto wallets.