Why NFTs are the future of the art industry: 4 reasons from art expert Kolja Brand (Aurum Future)

Non-fungible tokens are initially digital certificates that exist on a blockchain. A blockchain is a chain of data records that is stored in a decentralized manner. The certificate is thus safe from manipulation or theft. An NFT can represent something freely chosen – physical or digital. But the artwork can also become an NFT itself. Non-fungible tokens are currently shaking up the art market. "Watch out for hype!" one would like to shout. However, NFTs have so many advantages that they are the future of the art industry.

1st reason: security

As a signature, NFTs are absolutely forgery-proof. In the event of theft, the rightful owner can be easily identified. By selling a painting, the painter sends an NFT to the buyer at the blockchain address. Therefore, it is a contract of sale, providing a high security level. Moreover, the trading chain of the painting can be traced without any gaps.

2nd reason: follow-up sales

Since the trade chain can be easily traced, it offers the artist the opportunity to be involved in the value chain in the long term. NFTs can be programmed so the artist has a 10 percent share in every resale. This works smoothly because the NFT must change hands with the object.

Reason 3: Democratization

Until now, buying a work of art could only be afforded by someone who was really rich. This is now changing with the help of NFTs. A Non-Fungible Token can be divided into countless sub-tokens. The shares are sold individually – roughly like a share. In this way, art becomes affordable for many people. They then have an influence on the art market as a group. The result is that art becomes more democratic.

Reason 4: Digitization

When it comes to art in the digital space, people primarily think of completely digitally created artworks. There are some problems associated with purely digital art because it can be easily copied, and ownership is difficult to trace. NFTs can offer a way out here as well. The digital object can be stored directly in the NFT. Artwork and NFT are thus inseparably linked. For copyright implementation and licensing, this is a big step forward.

NFTs will prevail beyond the hype in the art industry. The advantages are clear. But what is also certain is that good art will continue to be fought over.

About Kolja Brand

Kolja Brand is an art expert who is convinced that the digital space offers fantastic opportunities for the art market. Under the name Kobransky, the successful artist creates his signature golden paintings. The prices of his paintings have tripled in the last three years. With his agency "Aurum Future," he helps other artists and art galleries to use the topic of NFT profitably for themselves. For the topic, NFT Kolja Brand works with blockcha

‍