# Welcome to 0x Academy Find out about what makes crypto art unique and how to navigate the NFT industry ## **🖼️ The crypto art knowledge base** **0x Society has embarked on a mission to introduce more artists and collectors to the world of crypto art by demystifying its intricacies and shining a light on its potential.** The 0x Academy created by [0x Society](https://0xsociety.com/) powered by [SuperRare](https://superrare.com/) is the education and onboarding platform for artists and collectors interested in crypto art. 0x Academy offers thorough guides, tips, and tricks to help you get involved in the industry faster. Learn from the experience of some of the top crypto art artists and collectors and make the jump today! **0x Academy is *****the***** crypto art knowledge base.** ## **📚 Guides** The **Guides** section provides a complete overview of crypto art basics, from its history to in-depth analysis of the current landscape. It's a great way to get started. {% content-ref url="/pages/-MZiBmMytDeoYTGJiasZ" %} [Guides](/guides/what-is-digital-art) {% endcontent-ref %} ## [🙋‍♂️](https://emojipedia.org/man-raising-hand/) Collectors The **Collectors** section reviews everything crypto art collectors should know to confidently get involved in the industry. Learn how to value, buy, display, and sell crypto art. {% content-ref url="/pages/-MZiCg73tUFNCtHs1U1K" %} [🙋‍♂️ Collectors](/collectors/buying-crypto-art) {% endcontent-ref %} ## [🧑‍🎨](https://emojipedia.org/artist/) Artists The **Artists** section includes everything aspiring crypto artists should know before making the jump into the industry. Learn how to mint, value, list, price, and market your work. {% content-ref url="/pages/-MZiChe9rbJR5YYB\_55J" %} [🧑‍🎨 Artists](/artists/untitled) {% endcontent-ref %} # What is digital art? A brief overview of digital art's history ## Introduction Digital art is defined as an artistic practice or medium that makes use of digital technology as part of its process. The Austin Museum of Digital Art defines it as “art that uses digital technology in any of three ways: as the product, as the process, or as the subject.” Ultimately, digital art is art that could not otherwise exist without digital technology. In order to understand digital art as we know it today, we must first look into its past; in the midst of its journey through the art world's paradigm shift. ## The Beginnings: 1800s to 1960s One of the earliest instances of humans using technology or mechanical means to create art would have to be the first photograph ever taken by Joseph Nicéphore Niépce. In 1826, Niépce creates [*View from the Window at Le Gras*](https://cool.culturalheritage.org/byorg/abbey/an/an26/an26-3/an26-307.html) using the "Heliography" process. This moment is seen as the precursor to digital art. In March 1895, the [Lumière Brothers](https://en.wikipedia.org/wiki/Auguste_and_Louis_Lumi%C3%A8re) screened [La Sortie de l'usine Lumière à Lyon](https://en.wikipedia.org/wiki/Workers_Leaving_the_Lumi%C3%A8re_Factory) in Paris. At a later showing, in December 1895, [Georges Méliès](https://en.wikipedia.org/wiki/Georges_M%C3%A9li%C3%A8s) attended a special private demonstration of the brothers' [cinematograph](https://en.wikipedia.org/wiki/Cinematograph). Méliès immediately offered to buy one of the Brothers' machines, seeing the potential for it to enhance his art, but they refused. Méliès' Star Film Company consequently geared towards the "fairground clientèle" who wanted his specific brand of magic and visual illusion. ![](https://lh5.googleusercontent.com/fFTNrq1UlxtRNGXNBBG4GqHWLrzzqPDM9ZzbfLVIsM1sldcrxggH7B-POHnfQ2smdhzSvZGITDmVsZSPlKp7uxRkv_ySuJlo-GO537fvXOo_Xw1jCExx7aVYOSgaD83FdVNcj_ER) In 1925, Scottish inventor[ John Logie Baird](https://en.wikipedia.org/wiki/John_Logie_Baird) built one of the first [Mechanical Televisions](https://en.wikipedia.org/wiki/Mechanical_television), as seen in the image below. This was a revolution in its time, as it was the first time in history that you could send and receive an image. ![](https://lh3.googleusercontent.com/dSSE406y3YSB5Utd1wMjw9t3P4CMG_KPVn-PdtnOR2lGZIGD-mUei1kphGiisVz6AMCgSFeHYgViG1ysBH8UVOBjPXHizGI7quM3OYUTbJSekMUSfFugcCt0hiDsK5q6TyeyBDkZ) Two World Wars later, we find ourselves with the first computers. These lumbering, city block sized machines were capable of incredible things. For example, the CSIRAC originally known as the [CSIR Mk1](https://en.wikipedia.org/wiki/CSIRAC), was Australia's first digital computer in 1949. It is the oldest surviving first-generation electronic computer and the first in the world to be able to play digital music. The 1950s were a time when computing power was so scarce, it required a national defence budget to finance it. Knowing this, in 1956, an [anonymous IBM](https://www.theatlantic.com/technology/archive/2013/01/the-never-before-told-story-of-the-worlds-first-computer-art-its-a-sexy-dame/267439/) employee used a $238 million military computer, the largest such machine ever built at that time, to render an image of a curvy woman on a glowing cathode ray tube screen. This was a historical moment in computer graphics. Using equipment supposed to safeguard against a nuclear strike, a pin-up girl had been drawn. She was possibly the first human figure to ever appear on a computer screen. ![](https://lh3.googleusercontent.com/TGvkIXqGVrqMmFrPm0tUsKT9MkJP1tIdAtzQeL29fyjBRX9roXixcZ7ooFb0YC0_05-iHymE5_hi9bdIj16AmegflGlRuqLDZ9XWdLJYXnXOJQQBprlvHUyvuiD6lTWnq1CPisFo) A year later, in 1957, [MUSIC-N](https://en.wikipedia.org/wiki/MUSIC-N) was born. It’s creator, [Max Mathews](https://en.wikipedia.org/wiki/Max_Mathews), had conceived the first computer program capable of creating music on a digital computer. In 1962, physicists of Bell Labs made history by using an [IBM 704](https://en.wikipedia.org/wiki/IBM_704) computer to synthesize speech and recreate the song[ Daisy Bell](https://en.wikipedia.org/wiki/Daisy_Bell), with musical accompaniment from Mathews.[ Arthur C. Clarke](https://en.wikipedia.org/wiki/Arthur_C._Clarke) was coincidentally visiting friend and colleague John Pierce at the Bell Labs Murray Hill facility at the time of this[ speech synthesis](https://en.wikipedia.org/wiki/Speech_synthesis) demonstration. He was so impressed that six years later he used it in the climactic scene of his novel and screenplay for[ 2001: A Space Odyssey](https://en.wikipedia.org/wiki/2001:_A_Space_Odyssey_\(film\)), where the[ HAL 9000](https://en.wikipedia.org/wiki/HAL_9000) computer sings the same song. ![](https://lh4.googleusercontent.com/0t86Mq7wI9gWGQoLQ0TPUSw8JPYJzjzMNL6VHiqn0KobkUquLSOScnf6q9aaMcnFluHmjSQYSwp_7Yat8d78rb79AXopvYSyldRbLo_2zZs1KXAHiCc-_sklYwmTkpbOzCvkq5Hh) In 1958, Willy Higinbotham, a member of the team that developed the first nuclear bomb, created[ Tennis for Two](https://en.wikipedia.org/wiki/Tennis_for_Two), the first interactive analog computer game and one of the first electronic games to use a graphical display. ## The Journey: 1960s to 1990s The sixties was an innovative time to be in the field of digital art because this is when things started to get really interesting. In 1964, pioneering graphic artist Charles "Chuck" Csuri, was described by the[ Smithsonian](https://en.wikipedia.org/wiki/Smithsonian_\(magazine\)) magazine as the father of digital art and computer animation. **1965: Sony Portapak Sony Corp.** Sony gives Nam June Paik the first portable consumer Video Camera, the PortaPak. Paik is possibly the first artist to use a personal analog recording system. Rumor has it that he videotaped the official visit of Pope Paul VI in New York while being stuck in traffic on his way home from collecting the camera. **1969: " TV as a Creative Medium"** Opening in New York at the Howard Wise Gallery, this exhibition of 12 artists included renowned names like Ira Schneider, Frank Gilette, Nam June Paik and Paul Ryan. This was the first show in the United States devoted entirely to video. Historically, it positions itself as both **the grand finale of the kinetic art movement of the 1960s** and an indication of the future — the impact of video and television in the hands of artists. It consequently inspired many to take up the medium. **1969: "Videoplace"** Myron Krueger established the artificial reality laboratory pioneering virtual reality. The installation features computer projection which interacts with the viewers shadow. **1969: The Advanced Projects Agency Network** ARPANET comes into action in 1969. It was the first wide-area packet-switched network with distributed control and one of the first networks to implement the TCP/IP protocol suite. Both technologies, invented by Lick Licklider and Lawrence Roberts amongst others, became the technical foundation of the Internet. These ideas were originally designed to connect universities to communicate and share research information. **1978: Mandelbrot Set** Mathematician Benoît B. Mandelbrot, PhD , best known as the "father of fractal geometry" introduces this equation. The Mandelbrot set is a set of points in the complex plane, the boundary of which forms a fractal. It has its place in complex dynamics, a field first investigated by the French mathematicians Pierre Fatou and Gaston Julia in the beginning of the 20th century. The first pictures of it were drawn in 1978 by Robert Brooks and Peter Matelski as part of a study of Kleinian Groups. One significant way of creating digital art is by using fractals. ![](https://lh4.googleusercontent.com/yTVO1MOchYE83nsOFBUBi_57YALezELDP8r8Z56603AYzsOSLvRAT4w9KOggqFaRZGnYSME3c4C1cQuY42J3nYEi31tOWm-lSXYoGXXKmEUp6-CdcNw6eVrnADpus54A3RlZPoQB) **1983: Founding of Wacom Co., Ltd.** Wacom is a world-wide company head-quartered in Japan producing graphics tablets and related products used by artists, graphic designers, architects, and cartoonists. Wacom tablets are notable for their use with a patented cordless, battery-free, and pressure-sensitive stylus (an on-screen writing pen). **1988: Release of Photoshop 1.0** Photoshop is a graphics editor developed and published by Adobe Systems created by Thomas and John Knoll. It has been described as "an industry standard not only for graphics editing, but digital arts as a whole". ## Now: 1990s to Today Since the 90s, digital art has been expanding into every corner of the world. This expansion was made possible thanks to the use of rapid evolving softwares and computers becoming increasingly. Museums around the world have exhibitions dedicated to digital art. As well, there are dozens of awards rewarding digital art, such as the [Lumen Prize](https://en.wikipedia.org/wiki/Lumen_Prize). With the propagation of this media, there has also been an important development in terms of the different types of digital art, the main categories being: 1. Fractal/Algorithmic Art 2. Data-Moshing 3. Dynamic Painting 4. 2D Computer Graphics 5. 3D Computer Graphics 6. Pixel Art 7. Digital Photography 8. Photo-painting 9. Digital Collage 10. 2D Digital Painting 11. 3D Digital Painting 12. Manual Vector Drawing 13. Integrated Art / Mixed Media and Hybrid Painting 14. Raster Painting 15. Computer-Generated Painting {% hint style="info" %} Further reading on all different types of digital art available [here](). {% endhint %} In today's world, digital art is ubiquitous. In fact, a majority of art consumed and appreciated on a daily basis is now digital. From streaming services such as Netflix or Amazon Prime Video, churning out ridiculous numbers of shows and movies, to major video game studios releasing game after game, to a whole generation of artists using their computers to create on a daily basis and to musicians uploading their digitally made music to Youtube, Soundcloud or Spotify; the digital art revolution has already begun. For digital artists, it can be very difficult to thrive, because the very nature of the internet is for information to spread freely. Moreover, the main beneficiaries of this digital revolution were the owners of the platforms, racking in the ad revenues from views and listens and paying out very little sums back to the artists. Thankfully, an ongoing revolution in the art world is at our doorsteps , with its impact yet to be fully grasped. This revolution is made possible with the use of blockchain technology and NFTs (non-fungible tokens). In the next guide, we will explore what NFTs are, how they work, and the role they will play in this revolution. # What are NFTs? An overview of NFTs, the technology powering crypto art ## Introduction The term "NFT" stands for "non fungible token". To better understand non fungibility, it is important to understand the concept of fungibility. In economics, fungibility is the property of a good whose individual units are essentially interchangeable, where each of its parts are indistinguishable from another. Currencies and cryptocurrencies are a good example of fungibility: you can swap a $10 bill for another 10$ bill, or one bitcoin for another, and this will not affect their value. On the other hand, when something is non fungible, interchangeability is impossible. It means there are unique properties within this good or asset that cannot be switched for something else, even if they both hold the same value. The best example of something non fungible would be humans. We are all unique and our DNA, caracteristics and traits of personality make us non fungible. We cannot be interchanged for another human. An other good example would be art: the Mona Lisa is one of a kind and cannot be exchanged for another work, wheter it holds the same value or not. You can take a photo of the painting, or buy a print, but there will always be only one original painting. In the digital world, NFTs are "one-of-a-kind" assets that can be purchased, transferred and sold as tokens representing property on this asset. This digital tokens can be thought of as certificates of ownership for virtual or physical assets, like a deed to a house, a pink slip for a car or the certificate of authenticity of a work of art. However, these digital certificates of ownership are far more secure than the original certificates of ownership we know. Traditional works of art, such as paintings, have value because of their unicity and rarity. However, with digital files, unicity has always been difficult to maintain because of how easy it is to make copies. With NFTs, artworks can be "tokenized" to create a digital certificate of ownership that can be bought and sold, making the original artwork unique and therefore, increasing its value in the eyes of the collector. Think of it like a unique ID number assigned to the artwork. As with cryptocurrencies, a record of who owns which work is stored on a shared ledger, known as the blockchain. The records cannot be forged or altered, because the ledger is maintained by thousands of computers around the world. The database is set out in a number of “blocks” of data, each leading sequentially to the next – hence the term “chain”. An NFT can also perpetrate a smart contract, allowing its creator to benefit from a royalty on any subsequent sale. Whenever a transaction occurs – buying, selling or transferring an NFT, the data of this transaction is time stamped and then validated across the entire blockchain, which contains a history of every transaction ever made with that specific NFT. Since the database is distributed, it means there is no central location where the data can be controlled by one entity. Therefore, it's a lot harder, even almost impossible to alter the information it contains, because the majority of the computers must agree that the transaction is valid. To put it another way, the blockchain verifies that there is always only one account or person capable of owning the NFT at a given time. If I sell Picasso.jpeg to Peter, I can’t turn around and sell the same NFT to Paul – the blockchain knows that I already transferred it to Peter, so I can’t sell it to Paul, and will mark the transaction as invalid. Peter only will be able to sell the NFT to Paul. We will learn more about the ins and outs of crypto art in the next section: **What is crypto art?** To summarize, the whole concept of NFTs is based on the idea of digital scarcity, which allows you to buy, sell, and trade digital goods as if they were physical goods, guaranteeing their value. An NFT is a special token that represents a unique ID, which is linked to a piece of crypto art that cannot be replicated and is used to verify ownership of a piece. You can attach it to anything: a JPEG, GIF, MP4, even music, but also physical items. This token proves ownership of the original file and is stored on the Blockchain, a permanent and unalterable ledger that can be accessed from any computer over the world.
{% hint style="info" %} For further information, you can view this [curated list](https://future.a16z.com/nft-canon/) of readings and resources on all things NFTs. {% endhint %} # What is crypto art? An overview of crypto art, the new medium for digital art Crypto art is a term used to define a piece of art, either digital or physical, that has been tokenized in order to produce an NFT representing a certificate of ownership for its owner. Each work of crypto art is a digital asset created, verified and tracked on the blockchain. This way, the entire provenance of bids, sales and previous collectors will be recorded on the Blockchain, ensuring not only provenance and ownership, but also a better transparency on the art market. Each piece of art is minted and digitally signed by the artist, and as soon as the artist sells the piece, the buyer is registered as the new owner. When the collector sells the piece to a new buyer, the original artists can earn royalties from each subsequent sale. This royalty system will influence more and more artists to join the crypto art revolution. ![Artist Mike Winkelmann, known as Beeple holds the record for the most expensive digital art piece. Everydays:The First 5000 Days selling for 69.3 million USD on March 12th, 2021.](/files/vw6Oj7kW1ZMbqwB5ANef) Crypto art also allows to verify scarcity of the piece with the use of blockchain technology. Take for example an original painting signed by Picasso. It can have its authenticity and ownership authenticated through an extensive written history, bills of sale and other physical documents. Even with all these documents to back it up, there can still be mistakes, fraud and counterfeiting. The piece could be an elaborate fake or copy, and it would be impossible to know without X-Ray, MRI or other invasive technologies that could potentially damage the piece. With crypto art, we eliminate the need for such extensive measures to guarantee authenticity and provenance, since everything is recorded on the Blockchain right from the moment it is created. Because of the very nature of digital technology, digital art is very easy to replicate. But, thanks to NFTs, crypto art is a way of making digital files one-of-a-kind. Fakes or doubles can be easily weeded out with a quick look up of the crypto DNA of the piece, which can include date and time of minting, location of minting, address of wallet that executed the minting and all sorts of other metadata the artists might want to add to the piece. However, caution must be taken. Even with NFTs, authenticity can never be guarenteed. Collectors must always ensure they are buying from the original creator. To do that, here’s a checklist we created to help you before your first purchase: * Visit the artist’s Website: do they mention creating crypto art? If they have posted links to their crypto art platforms, make sure to use these links only. * Visit the artist’s social media profiles: have they been active and promoting their crypto art work publicly? * Verify different NFT marketplaces and search for the artist’s name: have they minted the same NFTs on other platforms? * Try to contact the artist via social media or e-mail. Most artists are very open to speaking with their collectors and you will be able to learn even more about their process and truly ensure the piece comes from them directly. To conclude, here's a series of common factors that are said to have shaped the aesthetic and the community up to this day, according to [this article by Artnome](https://www.artnome.com/news/2018/1/14/what-is-cryptoart): **Digitally Native:** For the first time, artwork can be created, editioned, bought, and sold digitally. **Geographically Agnostic:** Empowered by the internet, artists participate from all over the world. CryptoArt is the first truly global art movement. **Democratic/:** Everyone is encouraged to participate regardless of skills, training, class, gender, race, age, creed, etc. **Decentralized:** Tools and guidelines are designed to reduce the power of gatekeepers and middlemen and increase the autonomy of artists. **Anonymous:** Use of pseudonyms allows artists to create and sell art while staying anonymous (if preferred), freeing them from social judgment. **Pro-Artist:** Blockchain platforms often take little to no commission from artists. Artists are often remunerated for every future sale of a single work through royalties embedded. {% hint style="info" %} For further reference, here is a [short video](https://www.youtube.com/watch?v=KuU1ugoFCTo\&ab_channel=SuperRare) made by the team over at SuperRare describing the phenomenon. For the full history of crypto art, visit [this Website](https://mlo.art/research/history-of-crypto-art/) created by Martin Lukas Ostachowski. {% endhint %} # Crypto art vs crypto collectibles Learn how crypto art differentiates from crypto collectibles ## Overview In the burgeoning world of NFTs, there are many different types of assets, but two of them have been in the spotlight: crypto art and crypto collectibles. As described in the previous section, crypto art is simply defined: it represents digital art tokenized on a blockchain. The pieces are usually unique, although some artists choose to mint multiple editions (numbered) of the same work for multiple collectors to enjoy. Crypto collectibles, on the other hand, refer to items that can be created by a company, for example, and don’t necessarily include ”art”. They hold their value based on their rarity and scarcity. Most of the time, crypto collectibles’ projects will contain only a certain limited number of items, driving the demand up. In the physical world, the price of a collectible depends on how many copies of the same item are available, as well as its condition and the hype it is benefiting from. Examples of real world collectibles include coins, toys, comic books, stamps, cars and antiques. In the digital world, it’s relatively the same, except now you can collect all sorts of items, such as digital pets or avatars. In the past years, three distinct projects have garnered the most attention. Let’s dive into these projects to understand more of the appeal they might have for collectors. ## [CryptoKitties](https://www.cryptokitties.co/about) On the CryptoKitties platform, one of the first "blockchain game", users can collect and breed creatures that are named CryptoKitties. Each creature has a unique genome that defines its appearance and traits and users can breed their own Cryptokitties to create new ones or unlock rare "cattributes". As per their site, "\[...] CryptoKitties isn’t a digital currency, \[but] it does offer the same security: each CryptoKitty is one-of-a-kind and 100% owned by you. It cannot be replicated, taken away, or destroyed." When this project first started, it was seen as an interesting use case for the Ethereum blockchain and NFTs, and it soon became the project with the most gas used in Ethereum’s history, even going so far as to slow down the entire network. {% hint style="info" %} The team behind CryptoKitties, Dapper Labs, was actually the one who invented NFTs as we know them today with the ERC-721 standard on the Ethereum blockchain. {% endhint %} CryptoKitties garnered the media attention multiple times, such as this article from BBC News: [CryptoKitties craze slows down transactions on Ethereum](https://www.bbc.com/news/technology-42237162). Back then, approximately $4.5m had been spent on CryptoKitties. Today, that number is up to [$160m](https://kittyhelper.co/sales-history/?period=ALL\&sort=1) and still climbing. ## [NBA Top Shots](https://nbatopshot.com/infographic) The team that brought us CryptoKitties also brought us NBA Top Shots. They first ventured into the sports sector with the [Curry Kitty](https://www.coindesk.com/nba-superstar-steph-curry-now-first-celebrity-cryptokitty), a Cryptokitty with Stephen Curry’s likeness. This drew the attention of major financiers in the crypto space, including Andreessen Horowitz, and they were able to raise up to $12m to create [Dapper Labs.](https://www.dapperlabs.com/) NBA Top Shots are, in essence, 15 second GIFs showcasing some of the best moments in NBA history. From LeBron’s game winning dunk to Curry’s half court 3 pointers, any moment in the NBA’s extensive televised records can become a Top Shot. Basketball fans from around the world have already poured in millions of dollars into the project to try to get their hands on their favorite players' best moments. In short, they are the 21st century trading card, and they have opened up the door to many like it that will come in the near future. The NFL and NHL are starting to look into it, and soccer has already been conquered by [Sorare](https://sorare.com/?action=signin). Any sport with a sizable fanbase could be the next in line. Dapper Labs has recently announced a $305m funding round that features several high-profile investors led by Michael Jordan and Kevin Durant in order to grow the Flow blockchain and bring the same experience to other sports. ![](https://lh5.googleusercontent.com/IXaFwjKsdUxeTJpWyUheun9r5jcAaKdmbFbi0fQlkIChOYkUqQvrfvsFfVUSyY6vBffGvSjzvRh6tSupcnjGSUnjUe45vvUjy0f_q9EIKRrdXQGjLtn6I7q2JoVXR7DF2hZsYfLX) ## [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/) Bored Ape Yacht Club (BAYC) is a limited NFT collection of 10,000 ape avatars that has become one of the most important brand in the NFT space. Each individual avatar is used as a ticket to an online social club. So far, the NFTs have brought about $1 billion in total sales. The NFTs from this collection are particularly unforgettable to look at, mainly because of the popular themes each one address. They are very highly sought after by many, including popular figures like Eminem who bough one for 462,000$, Steph Curry, Logan Paul, The Chainsmokers, Paris Hilton, among many others. The minimum price of a BAYC NFT starts at around 52 ETH, which equals to approximately 210,000$. They can be especially expensive because, not only is each Ape different and unique, some can own traits that are rarer than others. For example, golden fur and laser eyes can be considered so rare, less than one percent of all Apes have them. Such traits lead their price to drive up compared to others. ## **Main protagonists of the crypto art scene** Up against the wave of collectibles stands the legions or crypto artists constantly creating and pushing the boundaries of digital art. Here are just a few you might have heard of, since they’ve been featured in the mainstream media for their unbelievable feats. ### [**Beeple**](https://www.beeple-crap.com/) On February 16, 2021,[ Christie’s announced](https://news.artnet.com/market/christies-nft-blockchain-art-auction-1943697) that it would offer it’s first-ever purely digital blockchain artwork selling a collage of Beeple’s first 5,000 “Everydays,” the digital drawings he had been creating since May 1st, 2007. Bids started at just $100, but quickly skyrocketed into the millions, before[ selling for an astonishing $69 million](https://news.artnet.com/market/christies-nft-beeple-69-million-1951036)—making Beeple (Mike Winkelmann) not only the creator of the most expensive NFT ever, but also making his way all the way to top three in the list of the most expensive artworks sold by living artists, right behind Jeff Koons and David Hockney. ![Everydays: the First 5000 Days, by Beeple ](https://lh5.googleusercontent.com/VSxwOfxyX63PPAuB1s7gh1KljmCXapFNm6zq6FmGvVivZz9dLQdBMIBYjQc32Puhbha0qRVljI4Q84ty-P95a6N4NRrJYGQYsnZOCEBv0ZP2vvExVfHHNbV6TJB9GCaCOC4ki_EP) ### [**Pak**](https://twitter.com/muratpak) Anonymous crypto artist Pak (using the pronoun "they") were actually the first big name in the game, breaking into the NFT art market way back in February 2020. In September 2020, a blog post for media brand the[ Control](https://thecontrol.co/who-is-pak-e89b12b0f0af) stated that “No creator has had more success selling their work on Ethereum \[...]". Although Pak have since been eclipsed by Beeple, they once filled two slots on the top ten NFT sales, and also released an NFT with one of the biggest auction house in the world, [Sotheby's](https://news.artnet.com/market/sothebys-auction-nft-collaboration-artist-pak-1952293), in May 2021. ![Metarift, by Pak ](https://lh6.googleusercontent.com/-gYkzQicV0-jhk_Vqg_jCIFYKMFHfcobvAsxnsJtv1kg9iT8DL5utugXhhT0niWXyVqpHSCiYyNOyJXsSnnJPYbB4CzvCNuWdeS8XceZb8bgJ4ABRVxRDvXL_aCNKaTKJdl7U2Xm) ### [**FEWOCiOUS**](https://fewocious.com/) FEWOCiOUS, an 18 years old artist from Las Vegas named Victor, is in his last year of high school. When someone first suggested he try NFTs, he said he was asking himself "what's the catch?" [in this article with Decrypt.](https://decrypt.co/52447/the-nine-most-innovative-crypto-artists-of-2020) His most expensive work to date, *The EverLasting Beautiful*, sold for $550,000, including the original canvas on which the animation was based. ![The EverLasting Beautiful, by FEWOCiOUS](https://lh3.googleusercontent.com/0pMnpL9WyS1ETbi3eFeHoDDzpum-o1RjOe8QIOHEK6n_cQ-yMezrw9OTb0sswpSDkyVJAVeWgIXpDdU-u46JoQnvdVax0MwQ091-TiCASRhJGcp3UNrvW16yzhnaKwV7l4JQypD0) # Why now? Learn what has led crypto art to become mainstream ## Empowerment of digital artists NFTs have enabled digital art to become provably scarce and therefore appreciate in value. Before NFTs, digital art - while a respected medium - fell short in terms of collection value as a file could too easily be copied. This new technology helps to guarantee the authenticity of a given copy, hence increasing its value considerably.\ \ In addition to the advantages provided by NFTs, smart contracts (which enable the creation of NFTs) allow artists and platforms to program perpetual royalties on secondary sales, ensuring more independence for artists. On most marketplaces, crypto artists will automatically receive a 10% to 15% share of secondary sales directly to the wallet they used to create the piece sold. Digital artists can now make a living off their art, without having to commit to client work that doesn't necessarily resonate with them. ## Recognition of crypto art Crypto art has obtained global recognition in the past two years. Led by Beeple's auction at Christie’s, which landed the artist $69,3m for his piece, the world has been watching this industry grow at an exceptional rate. We have now seen many multi-million crypto art auctions, like the collaboration between Sotheby’s and Pak, which attracted more than $17m in sales, or Mad Dog Jones’ Phillips auction, which generated $4.1m in sales. As the contemporary art world opens the door to crypto art, we will see even more artists and collectors join the movement and cement its importance in the art industry. ## Outburst of talent With the evolution of the video game and movie industries, more digital artists are being trained than ever before. Major brands now rely on digital artists to create their brand identity and express it to the world. There is an exploding talent pool that now has the tools to capitalize on their art.
# Environmental perspective Some perspective on the environmental preoccupations related to minting NFTs and solutions for environmentally conscious artists Non-fungible tokens (NFTs) represent an incredibly powerful tool to empower artists and unlock their creativity, as NFTs finally give them a way to commercialize work and make a living off their art. NFTs are created on blockchains, and these blockchains have varying degrees of energy consumption and environmental impact. Unfortunately, many observers and artists have dismissed NFTs over their purported impact on the environment and are opposed to participating in the crypto art movement because of their misunderstood environmental cost. We, at 0x Academy, aim to bring some perspective to the underlying technology used by blockchains today and specifically provide an explanation to the Ethereum network’s latest development (“[the Merge](https://ethereum.org/en/upgrades/merge/#main-content)”) and how it addresses these environmental concerns. ## The REAL ecological footprint of the Ethereum Network First, NFTs don’t necessarily have a direct relation with CO2 emissions. Let’s use the example of the Ethereum Network, the most popular blockchain at the moment for creating NFTs. Creating an NFT on the Ethereum Network requires a transaction, which is added to a block that holds multiple transactions. There are approximately 15.7 million blocks that make up the Ethereum blockchain today, and prior to the Merge, the capacity was approximately 30 transactions per second. Following the Merge that happened on the Ethereum blockchain on September 15th, 2022, the network has cut its energy consumption by 99.95% thanks to the implementation of a newer consensus method called Proof-of-Stake.

Data via https://ethereumenergyconsumption.com

After the Merge, Ethereum now uses less energy than Netflix, PayPal, YouTube, etc. In other words, Ethereum has adopted a new environmental-friendly consensus mechanism and has become socially acceptable among ecologically-conscious users. Ethereum has joined many other networks using a proof-of-stake consensus mechanism, including Solana, Tezos, Polygon, and the BNB chain. These networks have also fostered robust crypto-art communities and are home to many top artists. ## **Conclusion** Altogether, NFTs have helped to emancipate the digital art industry, which can now be considered an important and valuable artistic medium, just like its contemporary analogs. NFTs represent an amazing tool allowing artists to thrive from their art, instead of being restricted to client or corporate commissioned work. Not only do digital artworks now receive the recognition they deserve, but [artists also get royalties on all secondary sales of their NFTs in perpetuity](https://help.superrare.com/en/articles/5482222-what-are-royalties-how-do-they-work), ensuring they can focus on their art while making a living. NFTs represent a nascent technology that is in constant evolution, and Ethereum has done a great deal in moving its consensus method to its newer and more environmental-friendly consensus mechanism that is proof-of-stake.
# NFTs and copyright Learn and understand how copyright can impact the world of crypto art and NFTs ## Overview While an NFT is most likely not protected by copyright, we will see that the underlying artwork can be protected by copyright. There is a misconception that NFTs are art. In fact, NFTs are simply tokens on the blockchain that can be attached to any asset, including works of art - hence the term ''crypto art''. ## What is copyright? Every country has a different way to manage what we call “copyright”. In the United States and Canada, when you create an original artwork, you automatically become the copyright holder of that creation. You don’t need to register the creation for it to be protected, contrarily to patents, but registering it could be beneficial for a few reasons, as we will see below. As mentioned before, certain criteria must be met to be granted copyright protection. In the United States and Canada, copyright protection only extends to the *expression* of ideas, and not only ideas or concepts. This means you need to “fix” your idea on a medium for it to be protected (don’t worry, this medium can be digital as well). Another important criteria to consider is that your creation must be ''original''. What is considered original is not necessarily related to the beauty of the piece, but rather the skill and judgment necessary to create it, for example. Owning copyright on a work (digital or not) gives you the exclusive right to produce, reproduce, distribute and allow reproduction by others. This also means you can prevent others from using your creation wrongfully. However, it is important to note that in the United States, you must have registered your copyright to be allowed to file an infringement lawsuit. For that reason, even if it’s not required to register your copyright, it could be useful in the long run. If you are interested in registering your copyright, you should contact an IP lawyer from your country to seek legal advice. {% hint style="info" %} For more information in main countries, you can visit the [United States Copyright Office](https://www.copyright.gov/registration/), the [Canadian Intellectual Property Office](https://www.ic.gc.ca/eic/site/cipointernet-internetopic.nsf/eng/h_wr00003.html) or the [European Union Intellectual Property Office](https://euipo.europa.eu/ohimportal/fr/web/observatory/faqs-on-copyright-lu#1). {% endhint %} ### Are NFTs protected by copyright? To this day, it has not already been determined by the law if NFTs are protected by copyright. However, when interpreting current laws, it appears to be very unlikely that NFTs could be protected by copyright, because they simply represent data on a blockchain. In copyright law, that would not suffice to constitute an "original work of authorship", a criteria we mentioned before. However, the work underlying the NFT can potentially be protected by copyright. After selling an NFT, you should know that a an artist, you will normally maintain all commercial and intellectual property rights on the work underlying the NFT (unless otherwise stated by you). That means you can still market your art by making prints or producing merch, or even license it to companies. Don't worry! Your collectors, however, are not allowed to do so. They only have the right to sell, trade or transfer the NFT they collected from you. This means they can’t (unless they have a written authorization from you), mint a copy of the work, make people pay to view the work, sell any derivative object incorporating the work or exploit your work in any commercial way. Collectors can basically only display the NFT for their personal use and enjoyment. ## Some copyright-related questions to ask yourself before minting NFTs When minting a work on a marketplace, there’s a few things you should consider. The current market mostly depends on the way artists and collectors behave on the blockchain. For that reason, you should always be careful of your actions to ensure the integrity of the market in the future. To make sure you’re respecting copyright laws, ask yourself the following questions before minting a new piece: 1. **Is the work you want to mint original, unique, and created by you personally?** Minting a non-original work could be considered as infringement of copyright. Minting someone else's work can also be considered as infringement of copyright. 2. **Have you created the piece in collaboration with other artists?** Make sure you get the authorization from them before minting, because they are also owners of the copyright and could sue you for using their copyright without prior authorization. 3. **Did you create this piece as part of an employment or commission agreement?** You might not own the copyright on a work you created for someone else as a commissioned piece, or for an employer, because in some countries the copyright is transferred automatically in such situations. As well, if you’ve already licensed or transferred your rights on to someone else, you might want to double check these licenses before minting the piece. 4. **Does your work embody, incorporate or is inspired by other people's work?** Even a small element taken from someone else's work should ring a bell. Make sure you have the right to use these elements by contacting the owner of the copyright. In copyright law, there are a few exceptions allowing you to use other people’s art (such as if the work is now in the public domain, or if it can be considered fair use). However, it’s always better to get the written permission from the artist or the copyright owner, as these exceptions are difficult to apply and can lead to litigation. See the section ''**Public domain and fair use exceptions**'' below for more information. 5. **Have you already minted the same piece on another NFT marketplace?** Once you have minted an NFT on a marketplace, you should never mint it on another marketplace. Think of traditional paintings: an artist wouldn't create a second certificate of authenticity for the same painting, because that would be forgery, but they could go on and create derivative objects from the painting, such as a book or a print. The same rule goes for NFTs. If you ever decide to do so, note that most platforms reserve the right to delete the duplicated NFT or even ban you from their platform. ### **Public domain and fair use exceptions** Can you use someone else's art to create your own? Technically, you should never copy or use someone else’s work without their prior consent, for the same reasons that you wouldn’t want someone to copy your work and benefit from it without you approving it first. However, there are some exceptions to this rule. In some particular cases, it can be considered acceptable to mint a piece that contains non original elements (that you haven’t created yourself). Before benefiting from these exceptions, you should always ask the artist for their permission. The exceptions can be very difficult to apply with 100% certainty, because there aren’t any “guidelines” per say. Most of the time, only a judge can determine in court if these exceptions apply rightfully. That’s why you should always make sure to get the authorization from the artist. You should also always credit the artist you are incorporating in your artwork. In the description of your NFT, you should refer to the artist and the name of the artwork. * **Exception 1: Fair use defense** Fair use is simple to describe, but not always simple to apply. Basically, it means that the use you are making of any other artist’s work must be *fair* for it to be tolerated. Now, the hard part is to determine what is “fair”... Because this concept varies from one country to another, you should always consult a lawyer if you’re trying to benefit from this exception in order to make sure it can be applied in your situation and check that you’re not infringing someone else’s work. In all cases, you should at least consider these elements to evaluate if your use of the artwork is “fair”: 1. Your work should have a “transformative” purpose of the original artwork. This means you should be bringing something new to the market, kind of like a remix of a song should not be an identical copy, but a new piece in itself. The “transformative” purpose of your creation should fall into one of these categories: to comment or criticize the copyrighted work, or to make a parody out of it. 2. The work you are appropriating should not be displayed prominently in your work, meaning it should not be the main part of your piece. 3. Remember the fair use exception exists mainly to allow freedom of expression in the world, not to allow people to benefit from the work of others fraudulently. 4. The fair use exception also applies to trademarks. Trademarks are mostly business’ names, logos and slogans. If you wish to use trademarks in your artworks, you must ensure that the use you are making will not confuse people as to who created the piece. People must be aware of the reasons and the purposes of your work (comment, critic or parody). In all, you should not be using someone else’s trademark only to benefit from the traction/attention it will bring to your work. * **Exception 2: Public domain** Once an artwork is no longer protected by copyright, it falls into what we call “public domain”. There’s a few ways art can become public domain art. It can either become public domain once the copyright expires, or when an artist dedicates his work to be deliberately in the public domain. In most countries including the United States and European Union, copyright lasts for 70 years after the death of the artist. In other countries such as Canada, copyright lasts for 50 years after the death of the artist. Once a work is in the public domain, it means you can use it freely, without having to request the permission of the owner or even owning the copyright on the piece. You can even sell public domain art as it is, without needing a "transformative purpose". However, note that when you mint an NFT, it should always be your original work. Therefore, you should never mint a public domain piece (unless you’re using only some parts of it). Also note that, for example, even if a piece enters the public domain, it is possible that some photographs of that artwork are not part of the public domain if they were taken later. ## What you need to consider about copyright as a collector As a collector, it is important to know what you’re getting when purchasing an NFT. As we’ve explained before, the owner of a copyright on a work (most of the time the creator/author) owns the copyright on that work, meaning they can reproduce it, sell it, copy it, distribute it, modify it, or display it publicly. As a collector, buying an NFT only grants you the right to display the underlying work for personal use (that would be in your home, on your phone, on your computer, etc.) and to sell or transfer the property of the NFT to someone else. So, unless other rights were specifically granted to you, you can’t make commercial use of the artwork underlying the NFT you’re buying. ## Key elements to remember In terms of copyright and NFTs, remember that an NFT does not represent the work itself, but only a token attached to the work, acting as some sort of digital certificate of authenticity. The NFT is a certificate of ownership of the NFT only, not the underlying work. As a comparison, a deed is not a house per say, but only the proof that you own the house. In the end, NFTs are tokens of ownership, and should only be seen as such. Owning an NFT does not mean you own the original work created by the artist. Moreover, this means you should not use it for commercial purposes, such as reproducing it or selling derivative products made from the artwork underlying the NFT. ## Some interesting copyright-related cases to follow * [A Curator Allegedly Minted Unauthorized NFTs of Art by Anish Kapoor and Others. Now, He May Get Slapped With Lawsuits](https://news.artnet.com/art-world/art-wars-unauthorized-nft-sales-2039341) * [Hermès suing artist over Birkin bag NFTs](https://pagesix.com/2022/01/20/hermes-suing-artist-over-birkin-bag-nfts/) * [Picasso's heirs retract NFT offerings as family row ensues over 'counterfeit' tokens](https://www.euronews.com/culture/2022/01/28/picasso-s-heirs-retract-nft-offerings-as-family-row-ensues-over-counterfeit-tokens) * [‘Wave of litigation’ to hit NFT space as copyright issues abound](https://cointelegraph.com/news/wave-of-litigation-to-hit-nft-space-as-copyright-issues-abound) * [What is the ‘Pulp Fiction’ NFT Lawsuit?](#overview) * [New NFT IP infringement, ownership lawsuits: Nike v. StockX, Free Holdings v. McCoy, Sotheby’s (complaints)](https://nounft.com/2022/02/07/new-nft-ip-infringement-ownership-lawsuits-nike-v-stockx-free-holdings-v-mccoy-sothebys-complaints/) * [Bored Ape Yacht Club (BAYC) will transfer all IP to Bored Ape owners](https://nounft.com/2022/01/26/bored-ape-yacht-club-bayc-will-transfer-all-ip-to-bored-ape-owners-say-what/)
# NFT blockchains overview An overview of the pros and cons of the leading NFT blockchains NFTs are now a very popular use case for blockchains and it is no surprise that most blockchains with smart contract capabilities have developed NFT frameworks. However, it does not mean all blockchains are built equal and have the same level of infrastructure to support the current state of the crypto art industry. ## Ethereum [Ethereum](https://ethereum.org/en/) is the reigning king of NFTs and crypto art today, as it kickstarted the movement in 2017 with the ERC-721 NFT standard with [Cryptokitties](https://www.cryptokitties.co/). It is home to the top crypto art marketplaces including SuperRare, OpenSea, NiftyGateway, Makersplace, and Foundation. In January 2022, these platforms attracted a total of over $12b in sales. SuperRare alone now has over 1,919 artists and 4,449 collectors, while Foundation has had over 22,111 individual bidders and more than $154m in bid volume since early February 2021. Ethereum definitely leads in terms of supply of artists and liquidity provided by an active and growing collector base. Ethereum also has a vibrant sidechain ecosystem (blockchains interoperable with Ethereum that provide some advantageous trade-offs on scalability and costs). To name a few, Polygon has attracted a large number of art and collectibles projects, and [Palm](https://palm.io/) has launched recently in collaboration with major players in the crypto art space and with their first project being from Damien Hirst, one of the world’s most valuable living artist. This should allow more artists and collectors to leverage the Ethereum ecosystem, while benefiting from new generation infrastructure. Ethereum has the infrastructure and an active collector and artist base, but its costs can be prohibitive to some. Depending on network usage, it can cost a few hundred dollars to mint and list a piece for an artist, or $50-$100 for a collector to bid on a piece. On one hand, this can act as a filter to make sure that artists only mint pieces they really believe in, but on the other hand, it can prevent talented artists and new collectors from making the jump. Overall, Ethereum maintains its strong lead and offers its NFTs a price premium versus other blockchains but new alternatives will challenge its grasp on the market. ## Tezos [Tezos](https://tezos.com/) has a burgeoning ecosystem that mostly comes from the hype around the “[Clean NFTs](https://cleannfts.org/)” movement and its fast, cheap, and ecological transactions. New platforms like [Kalamint](https://kalamint.io/) have been attracting an interesting number of talented artists and active collectors, pointing to a clear interest for alternatives to Ethereum-based platforms. Though, Tezos-based NFTs are not commanding the same prices than their Ethereum counterparts. Even top artists sell NFTs for a few hundred dollars as collectors do not yet attribute the same value to pieces on Tezos platforms. While it may evolve in the future, Tezos marketplaces offer a test bed for top artists and a launchpad for aspiring artists without the same level of curation found on platforms like SuperRare. As liquidity increases and infrastructure develops, Tezos will become an interesting alternative to Ethereum. ## Flow Built by Dapper Labs, the creators of Cryptokitties, [Flow](https://www.onflow.org/) was designed with a major focus on NFTs in mind and the team has attracted major brands like Aminoca and the UFC to create collectibles. Similarly to Tezos, transactions are fast and cheap, and there are extensive frameworks to launch NFTs. However, the infrastructure is still very centralized around [NBA Top Shot](https://nbatopshot.com/), a Dapper Lab project focused exclusively on NBA collectibles, and [VIV3](https://viv3.com/), a crypto art and collectibles marketplace. ## Solana The Solana NFT ecosystem is quickly gaining market share against Ethereum as it offers great marketplaces with [Magic Eden](https://magiceden.io/), [Solsea](https://solsea.io/), and [Solanart](https://solanart.io/), an established NFT framework from [Metaplex](https://www.metaplex.com/), and established wallet infrastructure with [Phantom](https://phantom.app/). While the Solana NFT market was kicked off with copy cats of popular Ethereum collectibles, it has developed its own collectible brands and is now starting to attract artists. While the art market is still limited on Solana, it has enough momentum to capture the next wave of creators. # Main marketplaces An overview of the pros and cons of the main crypto art marketplaces Ethereum is home to the top crypto art marketplaces. We will analyze SuperRare, Nifty Gateway, Foundation, Makersplace, Known Origin, Rarible, and OpenSea to provide a better understanding of the landscape. ## **SuperRare** [SuperRare](https://superrare.com/) is the largest and oldest running NFT platform dedicated to original cryptoart, with +$270M in total sales and more than $150M earned by artists since 2018. Each artwork on SR is an original and authentic 1/1 produced by a top digital creator, then tokenized for easy ownership and trading. The innovator of perpetual artist royalties, SuperRare is a user-controlled & curated marketplace governed by $RARE token holders, with a mission to revolutionize the economics of human creativity by building a new art market that anyone can access. Curation is decentralized on the platform, with artists being onboarded by curators at both SuperRare Labs as well as SuperRare Spaces, who are independent galleries on SuperRare voted in by $RARE token holders. SuperRare is a network of, by and for creatives, focused on shepherding the digital renaissance as an emerging global art movement that will radically alter our relationships to and participation with digital art. * **Curation process:** There are currently two ways to be onboarded onto SuperRare. You can use[ this form](https://docs.google.com/forms/d/e/1FAIpQLScTZhB9On31j-uoFzMD3hg0gGNf3hgjVyBz1xwCHsOBSydvPw/viewform) to submit your artist profile in order to be reviewed by the SuperRare Labs curation team. Or, you can be onboarded as an artist via a [SuperRare Space](https://superrare.com/spaces). * **Platform fees:** For primary sales, there is a 15% commission (creators receive 85% of their sale). There is also a 3% transaction fee for all purchases, paid by the buyer. * **Secondary market royalties:** For secondary sales, creators receive a 10% perpetual royalty, which provides passive revenue from their artwork if it continues to be traded on the secondary market. * **Editions support:** SuperRare supports single edition (1/1) artworks. These can also be part of a [series](https://superrare.com/series). * **Pricing mechanisms:** SuperRare supports offers, ‘buy now’ list prices, and auctions (including reserve auctions and scheduled timed auctions) to give flexibility to artists on their desired sale mechanism. * **Cryptocurrencies accepted:** SuperRare currently supports payments in ETH and in $RARE ## **Nifty Gateway** [Nifty Gateway](https://niftygateway.com/) defines its platform as a centralized and invite-only marketplace, which teams up with top artists and brands to create collections of limited editions, high quality NFTs, exclusively available on their platform. The Nifty drops give a lot of freedom to the artists who can do open editions, drawings, silent auctions, ranked auctions, and more. It’s not uncommon for artists to add quizzes or requirements like owning one of their pieces to enter drawings. As opposed to other platforms on this list, Nifty Gateway handles the minting process for the artists. * **Curation process:** Nifty Gateway is an invite-only and highly exclusive marketplace, mostly reserved for established crypto artists and international stars (influencers, musicians, etc.). Artists can still apply [here](https://niftygateway.typeform.com/to/qAasuU). * **Platform fees:** For primary sales, there is a 15% commission (creators receive 85%). * **Secondary market royalties:** For secondary sales, creators get to choose what percentage they want - it could be 5% of every secondary sale, or 50%. Nifty Gateway takes 5% + 30 cents of every secondary sale. * **Pricing mechanisms:** Nifty Gateway supports list prices for multiple editions, drawings at a listed price, silent auctions, and open auctions that are all time-based during a drop. ## **Foundation** [Foundation](https://foundation.app/) is as a open NFT marketplace focusing on digital artists. It's a great marketplace to get started or to test out new collections that don’t necessarily match the style you have developed on another marketplace. Setting up a Creator Profile is very easy: you only have to connect your Digital Wallet (MetaMask), and then start running auctions on the platform. Foundation only supports single editions artworks. * **Curation process:** Foundation is open to all artists. It's a great place for artists to get started as the team behind Foundation is constantly building new tools for artists * **Platform fees:** For primary sales, there is a 15% commission (creators receive 85%). * **Secondary market royalties:** For secondary sales, creators receive a 10% commission (royalty) * **Pricing mechanisms:** Foundation supports both reserve auctions as well as a "But it Now" option. ## **Makersplace** [MakersPlace](https://makersplace.com/) is defined as a marketplace to discover and collect truly unique digital creations by the world's most creative minds. They empower digital creators with the tools to protect and sell their digital creations to their fans and collectors. Artists, photographers, writers, and more use MakersPlace to create and sell their work online through the use of [blockchain technology](https://makersplace.com/faq/#whats-blockchain). Makersplace is a highly-curated marketplace, which supports all types of drops and editions. * **Curation process:** MakersPlace currently works with invite-only. You can fill out the [creator application here](http://bit.ly/MPInvitationRequest). * **Platform fees:** For primary sales, there is a 15% commission (creators receive 85%). There is also a 2.9% transaction fee for all purchases, paid by the buyer. * **Secondary market royalties:** For secondary sales, creators receive a 10% commission (aka royalty), providing passive revenue from an artwork if it continues to trade on the secondary market. * **Pricing mechanisms:** Makersplace supports list prices and open bids so artists can accept offers at any time. ## **KnownOrigin** [KnownOrigin](https://knownorigin.io/) is an artist-driven platform that makes it easy for digital creators to authenticate, showcase and sell the artwork & collectables they produce. KnownOrigin is a highly-curated marketplace which supports all types of drops and editions. * **Curation process:** KnownOrigin is currently invite-only. To become a creator on KnownOrigin you must create a profile page. Once a profile is created you are free to apply via the [artist application form](https://forms.gle/vHVbio31vSeDT2nQ9). * **Platform fees:** For primary sales, there is a 15% commission (creators receive 85%). * **Secondary market royalties:** For secondary sales, creators receive a 10% commission (royalty), and there is a 3% fee paid by the seller to the platform. * **Pricing mechanisms:** KnownOrigin supports list prices and open bids, so artists can accept offers at any time. The platform was acquired by Ebay in June 2022. ## **Rarible** [Rarible](https://rarible.com/) is described as a decentralized NFT marketplace and minting platform that allows any creator to mint and sell their tokenized artworks. It is also a Decentralized Autonomous Organization (DAO) that allows users to create and sell ERC-20, ERC-721, and ERC-1155 NFTs safely and secured by the Ethereum blockchain environment. Rarible is a platform open to anyone and any type of Ethereum token, not only crypto art, which differs from the curated marketplaces previously identified. * **Curation process:** Rarible is open, easy, and free to use for everyone, allowing those without any coding skills to create NFTs easily and sell it on the marketplace. Though, creators can get verified by [filling out this form](https://rarible.typeform.com/to/FUP8rJ2z). * **Platform fees:** For primary sales, there is a 5% commission. * **Secondary market royalties:** Whenever you create a collectible on Rarible, you can set a percentage of your choice as royalty for secondary sales. Rarible collects a 5% fee on all sales. * **Pricing mechanisms:** Rarible supports list prices and allows artists to accept bids lower than the listed price for more flexibility. ## **OpenSea** [OpenSea](https://opensea.io/) is defined as a marketplace for digital goods, including collectibles, gaming items, digital art, and other digital assets that are backed by a blockchain like Ethereum. On OpenSea, you can buy, sell, and trade any of these items with anyone in the world. OpenSea is currently the largest general marketplace for user-owned digital goods, with the broadest set of categories (200 and growing), the most items (over 4 million), and the best prices for new categories of items. OpenSea is a platform open to anyone and any type of Ethereum token, not only crypto art, which differs from the curated marketplaces previously identified. * **Curation process:** Open Sea is open, easy, and free to use for everyone, allowing those without any coding skills to create NFTs easily and sell it on the marketplace. Although, verified check marks are available for accounts that OpenSea deems to be needing verification (due to public attention and other factors). * **Platform fees:** For primary sales, there is a 2.5% commission. * **Secondary market royalties:** Whenever you create a collectible on OpenSea, you can set a percentage of your choice as royalty for secondary sales. OpenSea collects a 2.5% fee on all sales. * **Pricing mechanisms:** OpenSea supports listing an item for a fixed price, creating a declining price listing, or an auction listing. # Acquiring cryptocurrencies Learn how to purchase cryptocurrencies ## Introduction Every marketplace on Ethereum accepts ETH and most only accepts the cryptocurrency instead of fiat. ETH is the cryptocurrency used for all transactions on the Ethereum network. Acquiring ETH will ensure that you can purchase pieces on any marketplace seamlessly. We will provide some guidance on how to acquire ETH on Coinbase, a secure platform that makes it easy to buy, sell, and store cryptocurrency, but we invite you to research the best cryptocurrency exchange for your country and fiat ramps. You can get an exhaustive list of centralized and decentralized exchanges accessible in your country directly on [the Ethereum website](https://ethereum.org/en/get-eth/). ## ETH on Coinbase SuperRare has created a help guide on how to acquire ETH through Coinbase, you can [check it out in full here](https://help.superrare.com/en/articles/5915043-how-to-add-eth-to-your-wallet). 1. Head to[ www.coinbase.com](http://www.coinbase.com/) and click “Get Started” to set up your account and verify your identity. Then, connect a debit card or bank account so that you can get verified and purchase ETH. (Sometimes this process maybe take 1-2 business days) 2. Once you’ve set up an account and your debit card or bank account have been verified, you can purchase ETH on Coinbase. 3. Click the “Buy” button and select “Ethereum” from the drop down menu. 4. Once you've selected "Ethereum" enter the amount you'd like buy denominated in either crypto or your local currency. We recommend purchasing a small amount of ETH to start. 5. Click “Preview Buy” to preview your order. If you need to make any changes to your order, you can do so by clicking the back arrow button. 6. Once everything is correct, click the “Buy Now” to complete the purchase of ETH. You now own ETH! Coinbase will notify you when it’s available to send to your wallet. Once your ETH is ready, you are able to send it from your Coinbase account to your wallet. You will need your Ethereum address in order to send it yourself. Your Ethereum wallet address—which is similar to a bank account number—will let you transfer and receive crypto from anyone, anywhere in the world. All Ethereum addresses start with the "0x" prefix. 1. You can find your Ethereum wallet address from the by opening up the MetaMask browser extension and clicking “Account” to copy your Ethereum address. 2. Head back to[ www.coinbase.com](http://www.coinbase.com/), select "Send". 3. Enter the amount you'd like to send to your Ethereum wallet denominated in either crypto or your local currency. 4. Click “Continue” and paste in your Ethereum wallet address from MetaMask in the “To” field. 5. Click "Preview send" and double-check that you've correctly pasted in the full 42-character wallet address. If you send crypto to the wrong address you will not be able to get it back. 6. Finally click “Confirm” to send your ETH, it should take a few minutes to transfer. You are now equipped to start bidding, although you’ll need a bit more information to do it properly. We’ll review some tips and tricks in the next sections.
# Setting up your wallet Learn how to create and secure a crypto wallet to interact with marketplaces {% hint style="info" %} **You can check out the complete guide on Metamask’s documentation** [**here**](https://metamask.zendesk.com/hc/en-us/articles/360015489531-Getting-Started-With-MetaMask)**.** {% endhint %} ## Overview To connect to most NFT marketplaces on Ethereum, you will need a Metamask wallet (a web extension), which allows you to manage your Ethereum private keys via your web browser and hold ETH and Ethereum-based tokens, including NFTs. ## **How to install MetaMask** ### **Chrome** 1. Visit 2. Click “Get Chrome Extension”. You will be directed to Chrome Web Store. 3. Click “Add to Chrome” 4. On the pop up, click “Add extension” ![](https://lh3.googleusercontent.com/WRlVmH-5hwz6ToKOj0jn7NAOEVAVloqW-QUaVwVuRYsOsK9n5yEQCkVCt2AfkLgkUspF8wECJjuW3oE8jEyPay9lAZKhiIs2M7PNy7nbP_VVL9QDSBrxJYCrjek8i8bF8yUO6vp9) After adding MetaMask extension, you’ll return to your browser page. MetaMask will appear on your browser. You may click on it to open MetaMask. ![](https://lh4.googleusercontent.com/hWJrB-Hcq8BqmVm2dh6YDj4nFy3bvEVUrbfF48jMY5XSc43I7AnpgdbPzWl89UTWQAbFW-osa6cvPxRyxtT0Fqx2CHhSntC6UqSxzDZqz6uIvrIpi4HgqmkmPmsNLo5xYOHpoynJ) ### **FireFox** 1. Visit 2. Click “Get FireFox Extension”. You will be directed to FireFox Add-Ons. 3. Click “Add to FireFox” 4. On the pop up, click “Add” ![](https://lh4.googleusercontent.com/3DPThRIqvLjORBtT-vjRi6_5KmLPa5eJ-h2XLC_D3F71pi92F_ty_w-bcjOj43QmyH-JuM12JRoSBT5lVBU54nzHLxG1gMei0542Wmx1r7l8eWrfgGIKqyXx4pHGTymWKmgPuFDj) After adding MetaMask extension, you’ll return to your browser page. MetaMask will appear on your browser. You may click on it to open MetaMask. ![](https://lh5.googleusercontent.com/7MuzJFfjODgb7y9SBsEIN66KCBqvO4bc65egMHfPKSn6E1hO89V1Z_bwVBIAkEZw2tHKDL6xwu6JAUQecakwchgq-DeziySiAwininV-dEMPBut3_tBf5Kojeg7HwBy8u1jBENVh) ### **Opera** 1. Visit 2. Click “Get Opera Extension”. You will be directed to Opera Add-ons . 3. Click “Add to Opera” ![](https://lh3.googleusercontent.com/zlB1uQ06UPJp84EkjAE05kRMoFN7ccf2v7HiYxm-kUvxHIADiXIggljHGV4Hb8iKrX_tEGfg_mS68w9Co0e87HsLKrTqWH7SMsUnf5R2kda5liYUA5KWPpXnDCPAzmbkJJ41bDP3) After adding MetaMask extension, you’ll return to your browser page. MetaMask will appear on your browser. You may click on it to open MetaMask. ### **Brave** 1. Visit 2. Click “Get Brave Browser”. You will be directed to Brave website. 3. Click “Download”. MetaMask is built in the browser. ![](https://lh6.googleusercontent.com/byijUtv3e5P2x1vAK6AKeRKVH30oirCxwsZUOuBn1ACMFl5d5CoKDKWoR1vWGne5e_ccF9aoLODRgmAHbi4gm9mJmWqy4t43G9dWh36pHhhEeMvb10ddJ2ATBHlnY9m9OjrU9I7u) ## Securing your wallet First, make sure you keep your Secret Backup Phrase (or “Seed Phrase”) in a secure location. If you lose your seed phrase, you will not be able to access your wallet and your funds will be lost forever. Using a password manager or writing the phrase on a piece of paper and storing it in a safe but memorable place can save you some headaches. Additionally, if you have a hardware wallet like Ledger or Trezor, you can connect it to your Metamask for additional security by following [this guide](https://metamask.zendesk.com/hc/en-us/articles/360020394612-How-to-connect-a-Trezor-or-Ledger-Hardware-Wallet). But beware, Metamask can be victim of phishing attacks in a few ways (see the [full guide here](https://metamask.zendesk.com/hc/en-us/articles/360052511372-I-ve-been-Hacked-Scammed-Unauthorized-transactions-on-my-Account-)): 1\) Your computer can be compromised with malware/spyware and you stored your private information on your computer. 2\) You have visited a malicious phishing website that stole your information. 3\) You gave your private key or seed phrase to someone or a site. 4\) You gave a web3 site/smart contract unlimited access to your funds (check who you gave access to and revoke here: ). 5\) You installed a fake MetaMask extension that stole your funds. To be on the safe side, we suggest only interacting with NFT marketplaces and websites with a transactional account that doesn’t hold your NFTs, and transferring your purchases to another Ethereum account that doesn’t interact with any websites. This second account will act as a safe vault and will prevent any damaging hacks. # NFTs and Taxes An overview of how NFTs and Taxes in Canada #### *Disclaimer* *This guide is not offered as legal, financial or tax advice, but only for informational purposes on how NFTs are reported in Canada. Because of the complicated nature of this topic and the specificity of each situation, we highly recommend having a discussion with your own tax advisor to assess your specific situation.* ## Overview The Canada Revenue Agency (CRA) has yet to issue any specific guidance concerning NFTs. However, we could potentially assume that the treatment will be the same as for any [other crypto assets](https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.html). Therefore, it would be advisable to report earnings in your tax filings, saving you lots of headaches down the line as the CRA has started paying close attention to crypto investments by accessing customer data through some crypto exchanges. It can be difficult to manually keep track of all your digital assets and calculate the taxes incurred from your transactions. If you have many transactions, you might want to consider using a crypto tax software that permits you to simply import all your crypto activity into one place using your public wallet address. On the other hand, if you do not have many transactions and are comfortable using a spreadsheet, then perhaps you might want to save the fees of a tax software and do it yourself. Here are a few crypto tax software that supports Canadian taxes * [Koinly](https://koinly.io/) * [Cointracke](https://www.cointracker.io/) * [TokenTax ](https://tokentax.co/) * [Crypto tax calculator](https://cryptotaxcalculator.io/) * [Taxbit](https://taxbit.com/) ## Considerations for Collectors While the law may evolve, at the moment we can assume that you **won't pay taxes** when you're: * Buying an NFT with fiat currency (government-issued currency such as CAD$ and USD$); * Holding an NFT; * Moving an NFT between your own wallets; * Donating an NFT to registered Canadian charity (assuming charity receipt is issued); * Being gifted an NFT. On the other hand, you **will most likely pay taxes** when you're: * Buying an NFT with cryptocurrency (which is usually the case). The disposition of cryptocurrencies for the purchase of an NFT gives rise to a gain or a loss which will need to be reported * Selling an NFT is considered as a disposition of an asset from a tax perspective regardless of whether you’ve received crypto or fiat money in exchange. The gain or loss resulting from this transaction will therefore need to be reported. The tax treatments of these events [will depend on whether your activities are considered business income or a capital in nature](https://turbotax.intuit.ca/tips/guide-to-cryptocurrency-tax-rules-14515). 100% of the gains are taxable if deemed business income, whereas only 50% are taxable if considered a capital gain. ### **Is it business income or capital gain**? The CRA considers the following to be signs of business income: * Conducting the activities for commercial reasons; * Promoting a product or service; * Trading regularly and in large volumes; * Intent to make a profit. On the other hand, if you trade crypto more casually and your actions show your activities are general investments, then your income should be considered capital gains. The line is indeed fuzzy between the two types of income your transaction falls into, but the more trading activity and profits you make, the more likely these will be considered business income. Again, we highly recommend reaching out to your own tax advisor to discuss the above and assess your situation to avoid any future issues. {% hint style="info" %} ***Example of what the CRA would consider business income*** Jess regularly buys and sells NFTs and intends to profit from the fluctuations of which she follows closely. This year, she sold $240,000 worth of NFTs, which were originally purchased for $200,000, therefore making a $40,000 gain. Since Jess is actively trading in cryptocurrency, which is a commercial activity, she would have to report business income of $40,000 on her income tax return. {% endhint %} ### **Calculating your gains** Make sure you have accurate records of all your transactions in CAD. If you are trading crypto on international exchanges, you will need to consistently value these transactions in CAD$ by cross-referencing rates on a local exchange. You will also need to record the date of the transaction, the receipt of purchase, the wallet details involved in the transaction and relevant descriptions, the exchange records, and any accounting, legal, and software costs for managing your taxes. Using the tax software previously mentioned simplifies this process, You will need to determine the costs of buying the NFT and any related incurred costs such as gas fees. Unlike cryptocurrencies which are fungible, it is easier to track down the exact cost paid for the asset. For example, if you were to determine the cost of your ETH, you would need to use the adjusted cost basis method. If you acquired your NFT for **free** (airdrop or as a gift), your entire proceeds will be considered profit. However, [you can claim a capital loss which can be used to offset any capital gains for the year](https://koinly.io/guides/crypto-tax-canada/). If you have more capital losses than capital gains, they can be carried back 3 years or carried forward for 20 years to to reduce your future taxes. {% hint style="info" %} ***Example of taxable capital gain calculation*** Jess bought an NFT for 0.3 ETH and incurred a 0.002 ETH gas fee. Since the NFT was purchased using cryptocurrency, she will need to report the gains resulting from the disposition of the ETH. * At the time of the transaction: 0.3002 ETH equalled $700 * Using the adjusted cost base method; Jess determines that the cost of her 0.3002 ETH is valued at $600. * Jess calculates her capital gain on the ETH to be $100 ($700 (ETH exchanged) - $600 (ETH cost)) * Her taxable capital gain will be $50 on the exchange of ETH ($100 (capital gain) x 50% (taxable portion of the capital gain)) Jess later sold her NFT at 0.4 ETH and incurred a 0.002 ETH gas fee. Since the NFT is being disposed of, she will need to report the gains from the sale. * At the time of the transaction 0.4002 ETH equalled $1,000. * Jess calculates her capital gain to be $300 ($1,000 (sale proceeds of NFT) - $700 (total cost – see above)) * Her taxable capital gain will be $150 for the sale of the NFT ($300 (capital gain) x 50% (taxable portion of the capital gain)) The total taxable capital gain that Jess would need to report for the year is $200 ($50 + $150) {% endhint %} ## Considerations for Artists Selling an NFT is just like selling any other product, and therefore qualifies as business income. For that reason, there is no doubt about how the income generated from the sale of your NFT as the artist would be classified. {% hint style="info" %} ***Example of business income incurred by an artist*** Alice incurred minting and gas fees totaling 0.04 ETH to create her NFT * At the time of the transaction 0.04 ETH equaled $100. * Using the adjusted cost base method, Jess determines that the cost of the 0.04 ETH used to create her NFT is valued at $75. * Since she is using cryptocurrencies with no intent to make a profit but for the purpose of being able to create an NFT, the gain resulting from this transaction will be considered a capital gain and not a business income. * Alice calculates her capital gain to be $25 ($100 (ETH exchanged) - $75 (ETH cost)). * Her taxable capital gain will be $12.5 for the exchange of ETH ($25 (capital gain) x 50% (taxable portion of the capital gain)). Alice sells the NFT she has created for 1 ETH * At the time of the transaction, 1 ETH equaled $2,500 * Her business income will be $2,400 as a result of the sale of the NFT she created ($2,500 (sale proceeds of NFT) - $100 (total costs)). * Her taxable business income will be $2,400 ($2,400 (business income) x 100% (taxable portion of business income)). Alice will need to report a taxable business income of $2,400 and a taxable capital gain of $12.5 for this year. {% endhint %} ## Conclusion As we have seen with the examples above, taxation can quickly get messy when dealing with multiple crypto transactions and is not always straight forward, which is why it is highly recommendable to make use of a crypto tax software and have a discussion with an experienced accountant or financial advisor. It is also best practice to set aside 30% of your profits, so that when the time comes to pay your taxes, you have the available funds at hand. *\*This guide was written in collaboration with Kim Puchois.* # The NFT glossary Your quick and practical guide for all NFT-related definitions ## A **Address |** The identification of a sender or receiver of a cryptocurrency transaction on the blockchain. Addresses are derived from private and public keys of a user. For example, "0xb794f5ea0ba39494ce839613fffba74279579268" is an address on Ethereum. **Airdrop |** An event where certain users will receive free tokens for holding onto certain types of assets for a moment of time. Often a surprise and unknown to users. ## **B** **Bear Market |** A bear market is one that is in decline having fallen 20% or more from recent highs. **Blockchain |** The Blockchain is often defined as an online ledger where everyone has access to records and transactions. It is transparent and immutable. **Bookkeeping |** Term used to describe the action of keeping records of financial affairs within a business. **Booming |** Term used to describe periods of rapid economic growth or great prosperity. It is commonly used within the NFT space when a certain project, artist, currency, etc. is thriving rapidly. **Bored Ape Yacht Club |** The Bored Ape Yacht Club (BAYC) is a collection of 10,000 NFTs. Each Bored Ape has unique traits, with some traits being rarer than others. The NFT collection was created by Yuga Labs in 2021. **Breadcrumbs |** A digital trail on the blockchain reflecting the history of transactions. **Bull Market |** A bull market is a market that is on the rise and where the conditions of the economy are generally favorable for buying. **Burning |** An expression used to refer to the action where you send an NFT to an empty address in order to destroy it or get rid of it. Since the blockchain is immutable, NFTs cannot be destroyed permanently, but "burning" them allows to prevent any future transfers or access. ## **C** **Collectible |** Assets or items that will have value because of their rarity. Most collectible projects have a limit of items available. For example, there are only 10,000 Bored Apes NFTs. **Cryptocurrency |** A type of digital currency that is stored on the Blockchain, such as Bitcoin, or Ether. **CryptoPunks |** A non-fungible token collection on the Ethereum blockchain launched in June 2017 by the Larva Labs studio. Often criticized because it does not use the ERC-721 standard. ## **D** **DAO |** An acronym that stands for "Decentralized Autonomous Organization", which represents an organization where rules are encoded as a computer program which is transparent, controlled by all of the organization members and not influenced by a central authority or government. **dApps |** Short for "Decentralized applications", meaning applications that run on decentralized networks. **Decentralized |** Used to described an organization or activity where control and decisions are made by a distributed network rather than a central authority. **Decentralized exchange |** Exchanges that allow peer-to-peer transactions, without the need of a middle-men. **DeFi |** An acronym for "Decentralized Finance", where the need for intermediaries (banks, brokers, exchanges) is eliminated by using blockchains and smart contracts. **Digital signature |** A string of data a user produces using his private key so that anyone who has the corresponding public key, the signature, and the document can verify that the transaction was "signed" by the owner of that particular private key, and it was not changed after it was signed. **Distributed network |** A distributed computing network system where data depends on multiple sources and is stored on distributed locations across the network, increasing its safety. **Down the rabbit hole** :hole::rabbit2:**|** A metaphor used to describe something that transports you into a wonderful and surreal world. This expression is used in the crypto art community when curiosity leads you to fall down the rabbit hole of crypto, NFTs, blockchain, DAOs and Web 3, a world that feels surrealist because users and creators are empowered. This expression originates from the movie "Alice in Wonderland", adapted by Walt Disney Studios. ## **E** **ENS |** ENS stands for "Ethereum Name Service", a platform that allows you to name your wallet address differently than "0x........................................", making it easier and more accessible to transact in crypto with other people. **Etherscan |** Etherscan is an Ethereum blockchain explorer and analytics platform that tracks when gas is at its lowest. It allows you to review details of the Ethereum block such as prices, addresses, tokens, transaction details and other information. **ERC-1155 |** is a novel Ethereum standard that stands for “Ethereum Request for Comments 1155”. It allows efficient transfers between a fungible and non-fungible token within a single transaction. **ERC-20 |** is an Ethereum standard that stands for “Ethereum Request for Comments 20”. It is a set of rules that all Ethereum-based tokens must follow used for token implementation on all smart contracts in the blockchain. It is essentially a standard for fungible tokens. **ERC-721 |** is an Ethereum standard that stands for “Ethereum Request for Comments 721”. It introduced an open standard interface for NFTs on the Ethereum blockchain. What this implied is that this type of token was meant to be unique, and capable of having a different value than other tokens (contrarily to fungible tokens, such as Bitcoin). **Exchange |** Used to trade, purchase or sell crypto assets. Examples of exchanges are Coinbase or Binance. ## F **Fiat |** A term used to refer to regular currencies like CAD, USD, Euro. **Fungible |** A term used to describe assets that are interchangeable by another item of identical value. For example, money is an interchangeable asset since it is possible to make an exchange between two currencies as they hold the same value. ## **G** **Gas |** An amount of cryptocurrency required to perform any transaction on the Blockchain. On the Blockchain, every action, such as buying an asset or transferring cryptocurrencies includes fees, which we call gas, to pay for the energy that must be deployed to operate the transaction. **Gas Fee |** A payment that an individual has to make in order to complete a transaction on the blockchain and it is used to compensate for the computing power used to verify blockchain transactions. **Gas Tracker |** A service showing the most affordable times to transact. Tip: Look for gas tracker to go below 100. **GM / GN |** Greeting acronyms standing for "good morning" and "good night". Used by members of the community to greet each other, spreading positivity and communication within social media platforms. ## **I** **Listing |** The action of making an NFT available to the public for purchase. **IPFS |** IPFS stands for "InterPlanetary File System", a distributed system for storing and accessing files, websites, applications, and data**.** IPFS can be used to store data related to NFTs, such as the link to where they were minted. ## **L** **Ledger |** A register of financial accounts of a specific type. In the NFT space, it is a secure gateway for storing, viewing, managing and enjoying the full property of your NFTs. **Minting |** The creation process of an NFT, i.e. uploading it onto the platform where it will be sold or offered. **Listing |** The action of making a NFT available to the public for purchase. ## **M** **Mainnet |** Short for "main network," this is the principal public Ethereum blockchain. It is also known as "layer 1" when discussing scaling solutions. **Metadata |** Data that describes relevant information about other data. Within the NFT space, it provides the NFT’s essential properties, details and anything its creator feels relevant to know. **Metaverse |** A network of virtual worlds focused on social connection, where interactions are facilitated by the use of virtual and augmented reality technologies. **Minting |** The creation process of a NFT, i.e. uploading it onto the platform where it will be sold or offered. ## **N** **NFT |** The term "NFT" stands for "non fungible token", a non-interchangeable token stored on a blockchain. It can represent a certificate of ownership for any type of asset, and was introduced by the ERC-721 standard. **Non-Fungible |** A term used to describe assets that are not interchangeable and that hold a unique value. For example, two paintings cannot be exchanged as each one holds a unique value. ## O **Oracle |** An oracle is a bridge between the blockchain and the real world. They act as a set of definitions for how to use the software that can be referred to for information and used in smart contracts. ## **P** **Peer-to-Peer (P2P) |** A person to person method of transacting, meaning you don't require the assistance of an intermediary. **Private key |** Your password to enter your wallet and access your tokens stored on the blockchain. Always keep it in a safe place and NEVER share it with anyone! **Proof-of-Stake |** A different way to verify cryptocurrency transactions, where you will be rewarded with tokens if you hold on to them for a certain moment. Just like mining, this process also requires some computing power and electricity usage, but to a lesser extent than Proof-of-Work method. **Proof-of-Work |** The classic way for verifying cryptocurrency transactions, where miners must solve hashing problems. This method is what makes blockchain so secure, since hackers would need need over 51% of all computing power available worldwide to hack a blockchain or transaction. **Public key |** Contrarily to private keys, it’s a cryptographic key that allows other people to see your wallet, tokens or NFTs. It does not need to be kept private because it doesn't allow other people to access your tokens. Public keys exist because the blockchain is a transparent technology. ## **R** **Rug Pull |** A rug pull happens when a scam of a crypto token is being promoted on social media. After the price of the token has gone up, the scammer sells and the price falls back down to zero. ## S **Serenity |** Also known as "Ethereum 2.0", it is the stage of Ethereum development that initiated a set of scaling and sustainability upgrades. **Smart contract |** A self-executing agreement (or computer program) that automatically executes between two or more parties under certain conditions that are entered into lines of code on the blockchain. Because they live on the blockchain, that are irreversible and immutable. ## T **Transaction Fee |** A fee to be paid whenever the Ethereum network is used. Whether it is sending funds from your wallet, swapping tokens or buying a collectible. You can think of this as a service charged determined by how busy the network is. **Turing-Complete |** Refers to any computer or machine that can solve any computational problem, no matter how complex, as long as it has the necessary resources. ## **U** **Utility |** An additional benefit that can come along with the purchase of certain tokens or NFTs. For example, it can grant you access to private social clubs or exclusive content from its creator. ## **W** **Wallet |** Where you keep your tokens and NFTs. MetaMask is a good example of a wallet. **WAGMI |** Acronym that stands for "we're all gonna make it". The #wagmi hashtag is widely used by the community to build confidence and encourage the community to not lose hope in times of uncertainty. **Web 2 |** Websites that allow users to generate content, ease of use, participatory culture and interoperability for end users. Users can write, create and share their own content on social media, blogs, websites, podcasts, etc. It is known as "participatory web". **Web 3 |** The next iteration of the Internet, where decentralization will be put at the forefront. Web 3 applications will run on blockchains and dApps, therefore benefiting users monetarily, based on their contributions and the content they create or share. # Dig Deeper! You will find below a list of various interesting articles and news about NFTs. Simply click on the links to access them! ### In light of the pressing environmental concerns leading to the explorations of our exhibition “MetaVRse”, we’ve hand-picked a few ressources addressing the topic: * Article - **“NFTs and Crypto Art: The Sky is not Falling”** by Sterling Crispin : * Podcast - **“Ethereum Energy Numbers are in! Moral calculations and web3 critique”** with Kyle McDonald: * Statistics - **“Ethereum NFT Activity”** by Kyle McDonald : * Collection of short essays - **“Toward a New Ecology of Crypto Art: A Hybrid Manifesto” :** * Guide - **“A Guide to More Sustainable Crypto Art”** : * **Carbon Emission Calculator** by Offsetra : ### Check out more interesting articles and news ! * [2021 Has Been the Year of the NFT. But What Exactly Is an NFT?](https://www.artnews.com/art-news/news/nft-guide-1234614447/) * ‘[All My Apes Gone’: An Art Dealer’s Despondent Tweet About the Theft of His NFTs Went Viral… and Has Now Become an NFT](https://news.artnet.com/market/kramer-nft-theft-turned-nft-2056489) * [The Artnet NFT 30 Report](https://news.artnet.com/market/introducing-the-artnet-nft-30-report-2047609) * [The Art Angle Podcast: Where Do NFTs Go From Here? An Interview With Christie’s Noah Davis](https://news.artnet.com/multimedia/the-art-angle-podcast-noah-davis-nft-2043252) * [Non-Fungible Tokens Are Deemed the Most Powerful Entity in the Art World in ArtReview’s 2021 Power 100 Ranking](https://news.artnet.com/art-world/art-review-power-100-erc-721-2042220) * [The Art Angle: How the CryptoPunk OGs Lit the Fuse for the NFT Boom](https://news.artnet.com/multimedia/the-art-angle-how-the-cryptopunk-ogs-lit-the-fuse-for-the-nft-boom-2033032) * [‘I went from having to borrow money to making $4m in a day’: how NFTs are shaking up the art world](https://www.theguardian.com/artanddesign/2021/nov/06/how-nfts-non-fungible-tokens-are-shaking-up-the-art-world) * [The Year of the NFT: How an Emerging Medium Went Mainstream in 2021](https://www.artnews.com/list/art-news/artists/2021-year-of-the-nft-1234614022/) # Valuing crypto art Learn how to value artists and their works ## Introduction The saying “beauty lies in the eyes of the beholder” is especially true for art, as well as crypto art. Before looking into the various parameters that can influence the value of a work, it is important to state that the most important factor for collecting art is to enjoy a given piece. The connection between a collector and a work will be its most determining factor, complemented by a slew of historical, social, and economical factors. One crypto art collector may be drawn to AI-generated landscapes, while another might favor photo-realistic 3D pieces. To collect crypto art is to purchase a piece that you will enjoy every day, even if its market value drops significantly. Now, although personal value should be the determining motive behind a purchase, there are multiple other factors that should be considered when trying to find the fair market value of a work. ## 1. The quality of the work The level of work and technique used to create a piece will be one of the most important factors to consider when valuing it. The use of reusable 3D elements, for example, will command a lesser value than fully custom pieces with unique components. Unless you are a digital artist, the best way to evaluate the level of work involved in a piece and its ensued value is to compare it with similar pieces and similar artists’ work. Look for uniqueness and effort behind the creative concept and its components. ## **2. The artist’s background** The artist’s background will play a major role in defining the potential value of a piece. You should consider: 1. Previous clients and work with artists, brands, and companies; 2. Museum and gallery exhibitions as well as important awards; 3. Quality of the pre-existing portfolio; 4. Experience in the crypto art space (when they first minted, what have they been producing since); 5. Social media/online presence. ## **3. The artist’s style and the work's style** An artist’s style defines them and can have a major impact on their artwork’s value. Artists with unique and identifiable styles will often attract higher prices, as opposed to those who constantly adapt their style to what's popular at the moment or what's "in demand" as they create recognizable brands. ## **4. The artist’s price history** It’s important to review an artist’s work value outside of NFTs, as well as the price history of their crypto art pieces. Artists may have moving floor prices influenced by past sales, which should be considered. Ideally, the floor price will increase over time, indicating a healthy collector base and growing demand. ## **5. The artist’s collector base** An artist’s work is worth as much as his/her collectors and the market believe it’s worth. Collectors should review who has collected other pieces from an artist to assess the profiles and sophistication of the collector base. Dedicated collectors instead of speculators is a good sign for the artist’s future value. ## **6. The artist’s audience** The crypto art market has the advantage of being global and open 24/7: artists do not necessarily benefit from (or even need) the help of galleries to promote their work. As such, the size of an artist’s audience on social media (mostly Twitter and Instagram), will play a role in their ability to sell their work. It’s an important factor to consider for a healthy secondary market for collectors as well as future appreciation of the artist’s artwork. # Buying crypto art Learn how to buy crypto art Buying crypto art for the first time can be quite intimidating. Follow these few steps below to be sure to do it the right way: **1.Buying cryptocurrencies** To acquire cryptocurrencies, you to create an account on an exchange or trading platform, such as Coinbase, Binance, Bitbuy or Crypto.com. For this step, we refer you to our detailed guide "[Acquiring cryptocurrencies](/guides/getting-eth)". **2.Creating a cryptocurrency wallet and funding it** In order to use your cryptocurrency to buy crypto art, you need to transfer them to a "non-custodial" wallet, such as Metamask. For this step, we refer you to our detailed guide "[Setting up your wallet](/guides/setting-up-your-eth-wallet)". **3.Selecting the crypto artwork you want to purchase** This is the fun part! It can also take a while. Make sure to evaluate your possibilities and refer to our guide "[Valuing crypto art](/collectors/buying-crypto-art)" to take an informed decision. You can also find more information on the different marketplaces in our guide "[Understanding the differences between marketplaces](https://app.gitbook.com/o/-MZhdsFXO4rLDirWdWMA/s/-MZhdxfywGw47DNsujlS/~/changes/eOrGRjEKPwvnpjEdsUV7/collectors/understanding-the-differences-between-marketplaces)". **4.Making an offer or purchasing it** Some marketplaces will offer "buy now" options, and others will offer auction mechanisms. See our detailed guide "[Auction mechanism overview](https://app.gitbook.com/o/-MZhdsFXO4rLDirWdWMA/s/-MZhdxfywGw47DNsujlS/~/changes/eOrGRjEKPwvnpjEdsUV7/collectors/auction-mechanisms-overview)" for more information. # Building relationships with artists Learn how to connect with artists and gain valuable insights We’re almost ready to start collecting crypto art, but first, it’s important to remember that art is social and one of the best parts of collecting is to connect with artists. We mentioned in the “**Valuing crypto art**” section that the artist’s story, inspiration, technique and process are immensely important to consider when valuing an artwork. A collector can search on the web, review an artist’s Behance, ArtStation, or Instagram account, but the best way to truly understand an artist’s work is to engage directly with them. Artists are like everyone, they welcome interactions with potential collectors and they will respond to most inquiries. The easiest ways to get in touch with artists are through the following apps and Websites: ## **Twitter** Twitter is where the magic happens in crypto art. Collectors and artists build their brand and audience there by interacting with each other, sharing new purchases, and providing guidance to their peers. To get in touch with an artist on Twitter, either DM them if their DMs are open, or comment directly on a thread about the piece you are interested in. In most cases, they will get back to you shortly. ## Discord Discord is a group-chatting platform that is home to many crypto art communities. Artists and collectors coordinate communities around common interests, holdings, and more. For example, many artists have created their own Discord community reserved to people either already holding their artworks or interested in acquiring one. It's a great way to have live discussions and connect with like-minded individuals, or even to get a direct line of communication with artists you like. ## **Instagram** Instagram has always been a destination for artists and art amateurs alike. Most artists have been posting their artworks on Instagram for years while building their audience on the platform. Similarly to Twitter, you can DM artists or comment directly on a post of a piece you are interested in. ## **Artist’s websites/emails** Artists will usually display their work using a mix of Behance, ArtStation, and their own website. As is common in the art world, they will often make their contact information available on one of those platforms to receive commissions inquiries, so if Twitter and Instagram fails, you can always look for that information. We also advise you to provide easily accessible links to your various collector profiles using [linktr.ee](http://linktr.ee), as it’s important for artists to understand your profile as a collector as well and be able to reach you. Showcasing your collection is a great way to build your reputation as a collector.
# Auction mechanisms overview Understanding the different auction mechanisms It’s almost time! You have now enough information to become an avid crypto art collector and make your first purchase. The last step is to understand the different auction mechanisms so you understand how to prepare your bid. ## Listed price This is a “Buy Now” option where the artist has indicated a specific price at which they are ready to sell immediately without any auction, which can be advantageous to avoid bidding wars. It’s a mechanism often used by collectors to list their pieces on the secondary market, as well as by artists for multiple editions or single editions that haven’t sold after a while. Collectors can always bid less than the listed price to try and persuade the seller to accept less. ## Reserve price A publicly-visible reserve indicates that when the reserve price is met, a 24 hour auction will begin. Bids done during an auction will be locked in escrow until the end of the 24 hours or until it has been outbid. During the last few minutes (5 mins on Nifty Gateway, 15 mins on most other platforms), any new high bid will reset the timer to that last period, i.e. 15 mins so that a buyer cannot bid at the last second to win the auction. Reserve prices are great to encourage bids, but can create bidding wars and lead the winner to overpay in some cases. ## Open offers When there are no listed prices or reserves, the seller is open to any offers. He most probably has a price in mind, but wants to use this as an opportunity for price discovery. The best way to discover what the seller has in mind (especially if it’s an artist selling their own piece) is to reach out directly to them and have a chat. Otherwise, it’s wise to look at the artist’s previous sales and floor price to not grossly underestimate or overestimate the asking price. Too often do we see offers at a few hundred dollars on pieces bought for tens of thousands of dollars. Don’t be that bidder. ## Drawings This mechanism involves pre-paying a given price to enter the drawing and win the chance to buy a piece. It’s popular for drops, as it gives a chance to anybody to win at a usually low price instead of centralizing the artworks in the hands of a few wealthy collectors. It’s pure luck, but it can land some valuable artwork at a discount. ## Silent Auctions Silent auctions will usually be for low multiple editions (3 to 20 editions) where collectors have to place a bid without knowing how much the editions will go for. The collectors have to guess how much it should be worth, as well as the other bidders’ appetite for the piece. It’s an interesting price discovery mechanism for artists, but it can lead to major divergence between the top bid and the lowest bid, which get the same artwork but for very different prices. ## Auctions Auctions are pretty straightforward as they work similarly to a reserve price auction, without the need to hit a specific price to start it. These will usually be timed auctions (ranging from a few hours to a few days) where collectors outbid each other until the timer runs out. This is a popular mechanism for major drops on Nifty Gateway and Makersplace, for example.
Enough with the theory, you can now place your bids and collect your first crypto artworks!
# Understanding the differences between marketplaces ## **Understanding the differences between marketplaces** We’ve already reviewed at a high-level the different marketplaces available on Ethereum, so we can now analyze them from a collector’s point of view. ### SuperRare [SuperRare](https://superrare.com) is the largest and oldest running NFT platform dedicated to original cryptoart, with +$270M in total sales and more than $150M earned by artists since 2018. Each artwork on SR is an original and authentic 1/1 produced by a top digital creator, then tokenized for easy ownership and trading. The innovator of perpetual artist royalties, SuperRare is a user-controlled & curated marketplace governed by $RARE token holders, with a mission to revolutionize the economics of human creativity by building a new art market that anyone can access. Curation is decentralized on the platform, with artists being onboarded by curators at both SuperRare Labs as well as SuperRare Spaces, who are independent galleries on SuperRare voted in by $RARE token holders. SuperRare is a network of, by and for creatives, focused on shepherding the digital renaissance as an emerging global art movement that will radically alter our relationships to and participation with digital art. **Things to consider** Collectors regularly attribute a premium to pieces minted on SuperRare because of the platform’s careful approach to artist curation and their unique focus on single editions. As one of the first cryptoart marketplaces, it is home to many of the “OG” crypto artists who built this important movement in contemporary art and continues to attract tens of thousands of emerging artists each year. ### **Nifty Gateway** [Nifty Gateway](https://niftygateway.com/) has revolutionized the drop mechanism and played a major role in popularizing crypto art collecting, in part due to the now famous Beeple drops. The Nifty team invites multiple artists per day to offer their collections as open editions, drawings, silent auctions, and more. Many famous music stars have been featured alongside talented digital artists. **Things to consider** Nifty Gateway is a custodial platform, meaning your NFTs are not held in your Metamask wallet, but on their platform. You can withdraw your NFTs at any time to your wallet. Also, NFTs held on Nifty Gateway cannot be displayed on social platforms like [Showtime](https://tryshowtime.com/), or virtual galleries like [OnCyber](https://oncyber.io/), or metaverse worlds like [Decentraland](http://decentraland.org/) and [Cryptovoxel](https://www.cryptovoxels.com/). As well, you cannot simply bid on a piece with ETH right away. Collectors need to verify their identity, pre-load their Nifty account with ETH ahead of time, or pay with a credit card and get pre-approved. Also, for secondary sales, sellers can only receive USD and not ETH upon a sale, which can then either be used to purchase other pieces on Nifty Gateway or be withdrawn to a Gemini account (a cryptocurrency exchange which owns Nifty Gateway), or to a US bank account. ### **Foundation** [Foundation](https://foundation.app/) is one of the top marketplace in the crypto art space. Artists can create collections or series around their works. Artist can also import smart contracts created with the Manifold Studio tool as long as the contract is a ERC-721 contract. It’s a great place for artists to get started as it is open to all, but also means the curation is not as thorough as on SuperRare, leading to varying quality on the platform. **Things to consider** Foundation supports reserve auctions as well as instant purchases. For reserve auctions a collector can bid on pieces and it will start a 24 hour auction, with the last 15 mins being reset every time a new bid comes in. The first bid at the reserve price starts the auction, but there are no guarantees the initial bidder will win the auction. Finally, Foundation has an extra step compared to other marketplaces where the winner of an auction has to “settle” an auction to add the piece to their collection, which requires an additional on-chain transaction and more gas fees. ### **Makersplace** [Makersplace](https://makersplace.com/) is a hybrid marketplace that has attracted major digital artists like Beeple and Pak, fine artists like Urs Fischer, and athletes like Patrick Mahomes. While predominantly focused on crypto art, Makersplace opens the door for collectibles-like NFTs with its drops and multiple editions support. It is also well curated but a little more flexible than SuperRare. **Things to consider** Accepted bids on Makersplace can sometimes take a few days to process and finalize the sale. Nothing to worry about though, as the sale is already locked. The piece will arrive in your account at some point. You can also comment directly on an artwork, which allows you to share your enthusiasm about a piece or to directly connect with the artist in case you are not able to reach them on another platform or social media. ### **KnownOrigin** [KnownOrigin](https://knownorigin.io/) is one of the original crypto art marketplaces, which is home to work from Frenetik Void, XCOPY, Hackatao, Trevor Jones, and other leading OG crypto artists. KnownOrigin is well curated and requires artists to go through an application process. It also supports multiple editions, which provides more flexibility than platforms like SuperRare and Foundation. **Things to consider** While less popular than the previously mentioned platforms, KnowOrigin offers an interesting platform for artists to experiment with multiple editions. It is also home to some OG crypto artwork that can be obtained for cheaper prices than on SuperRare. ### **Rarible** [Rarible](https://rarible.com/) is a decentralized marketplace where anyone can mint and list NFTs, although there are also verified users and collections that are reviewed by the Rarible team. Some major crypto artists drop special collections there, as the number of editions can be unlimited and they can reach the market of collectibles collectors. **Things to consider** Rarible bids are done in WETH (wrapped ETH), so collectors need to convert their ETH ahead of time to save on gas. Otherwise, Rarible can offer the swap for a fee. ### **OpenSea** [OpenSea](https://opensea.io/) is a decentralized marketplace where anyone can mint and list NFTs, although there are also verified users and collections that are reviewed by the OpenSea team. Some major crypto artists drop special collections there as the number of editions can be unlimited and they can reach the market of collectibles collectors. **Things to consider** OpenSea also acts as a marketplace aggregator where NFTs listed on SuperRare, Foundation, Makersplace, etc. can also be found on OpenSea. Withdrawn Nifty Gateway NFTs can also be found on the platform so works by Beeple, Ferocious, and more can be found there. # Displaying crypto art Learn how to display and enjoy your collection Now that you have bought your first crypto art piece, you should be able to enjoy it anytime you want, not just on the marketplace where you purchased it. Whether it’s your cellphone’s background, displayed on a digital frame, or showcased in your virtual gallery, you have many ways to display your collection! It’s actually much more flexible than a painting. ## **Getting the files** The first step to displaying a piece in your collection is to download the high resolution file. The exact method varies by marketplace so we’ll review some options: ### **SuperRare** You can download pieces in your collection by clicking on your profile, then "Collection", then ![](https://lh4.googleusercontent.com/ImZRKk4OipU1jimhkimq4DnzgGm3958JxySpg3ICclXCCF7LpbBqGNYyMyiNUvmO5nTFFmu0BUexOx292wiEue5yX6YdUW6jDCMsyoj_67Fp3xg3TJMYQuqDM5KsI9D0jjrpJA8k), "Download artwork file". ![Bur0x's SuperRare Collection](/files/-MZuIWY1vLYKY9N5Q8g2) ### **Nifty Gateway** You can download pieces in your collection by clicking on "Profile", then clicking on any piece you want to download and finally right click on the piece to "Save as". ![Bur0x's Abundance by Beeple](/files/-MZuJ3GuMk4dLagWt35e) ### **Foundation** You can download pieces in your collection by clicking on "Profile", then clicking on any piece you want to download and finally right click on the piece to "Save as". ![Bur0x's Montréal by Max Bedulenko](/files/-MZuKaeWu9NsneV_jPbF) ### **MakersPlace** You can download pieces in your collection by clicking on your profile, then "Collection", then click on the piece you are interested to download and under the "Make an Offer" button to the right, you will find a "Download Hi-Res Creation". ![Bur0x's You Are The Universe by Travis David](/files/-MZuJyd9idlbE8HP6KRL) If you have connected with the artist, you can also message them and ask for the file, they will usually be happy to send the high resolution version, or crop the original file in the format you would like to fit your digital frame, for example. # Getting the hosting URL Learn how to find the link to your file Downloading a file is great to display your art in the physical world, but what about the Metaverse? Galleries have been popping up on multiple Metaverses like Decentraland and Cryptovoxels (we’ll review the top metaverses in an upcoming section), but to display your collection on these platforms, you will often need to obtain the hosting URLs of those pieces. Each marketplace has its own process, which we will explore below. ## **SuperRare** In the HISTORY section of a piece (usually below), find where it says "Created by...". Once you have located this, click on "view tx". ![](/files/-MZyW_-GfK0hMs2sIf71) This will take you to Etherscan, where you’ll need the Token ID under "Token Transferred" and the Contract hash under "Interacted with (to)". ![](/files/-MZyX-1IbwivOtyhV_kT) Click on the contract hash, then under the "Contract" tab, you’ll be able to click on "Read Contract". ![](/files/-MZyXkUGd5elpVF8rc-C) Then, scroll down to the "Token URL" element at rank 14, enter the token ID and click on "Query". Now copy the string displayed starting with [https://ipfs…](https://academy.0xsociety.com/collectors/displaying-crypto-art/https:/ipfs…) and paste it in a new tab in your browser. After "uri:..." you’ll find the link to the file stored on IPFS! ![](/files/-MZyY0LH7-jtZnHYUXjF) ![](/files/-MZyYFIs_CuWvRiQPXjW) ## **Nifty Gateway** You’ll first have to click on the artwork under your profile, and then copy the token ID under the Contract hyperlink before clicking on the latter. ![](/files/-MZyYclHkeUiL8MF7tLI) Then, under the "Contract" tab, you’ll be able to click on "Read Contract". ![](/files/-MZyYt-nrA8N1Mp3pVjd) Then, scroll down to the "Token URL" element at rank 23, enter the token ID and click on "Query". ![](/files/-MZyZ6pn0oZHHpHfQaNL) Now copy the string displayed starting with and paste it in a new tab in your browser. After "Image:..." or "animation\_url" if it's an mp4, you’ll find the link to the file stored on Cloudinary.com. ![](/files/-MZyZPKk8wzv1MGPxu6n) ## **Foundation** Foundation makes it easy for its collectors as there is a "View on IPFS" button directly on the piece’s page. The link will take you directly to the URL where the file is hosted. ![](/files/-MZyZjJ3wZ0B1q9HmZnT) ## **MakersPlace** You’ll first have to click on "View Proof of Authority" on the piece you are interested in showcasing. ![](/files/-MZy_GyUPkx4XBE9nEl5) You’ll have to copy the token ID, then click on "View blockchain details". ![](/files/-MZy_OuHHnT_tdWUscIP) Click on the contract hash, then under the "Contract" tab, you’ll be able to click on "Read Contract". ![](/files/-MZy_biWGrXFH331nOsm) Then, scroll down to the "Token URL" element at rank 23, enter the token ID and click on "Query". ![](/files/-MZy_l3HLZvohpjmkiBi) Now copy the string displayed starting with ipfs/… and paste it in a new tab in your browser after ipfsgateway.marketplace.com/. After "Description" at the end, you’ll find the URL you are looking for. ![](/files/-MZya5rMZ8RuBFt8Wtq-) # Digital frames An overview of the top digital frames available on the market The misconception that you cannot display crypto art on a wall is entirely wrong. While it’s still early, there is already an interesting selection of frames designed specifically to display digital art. ## Meural The [Meural frames](https://www.netgear.com/home/digital-art-canvas/products/) are digital art frames with a dedicated mobile app to manage your art playlist and upload your files. Their size ranges from 13.5” to 29”, and they are more affordable than most other displays, as they do not have TV functionalities. They come with a swivel mount option to allow owners to rotate them easily depending on the artwork they want to display. However, they lack the ability to play soundtracks from artworks. ![From Techcrunch's Meural coverage article](/files/-MZuL71iIFfaFq6r1sfd) ## The Frame by Samsung [The Samsung frames](https://www.samsung.com/ca/lifestyle-tvs/the-frame/highlights/) are half TVs, half art displays as they offer an art mode with a customizable frame for jpeg files. Their size ranges from 43” to 75”, and they are the most expensive option on our list because of their TV functionalities. They do come with a mobile app to upload stills, but they do not offer an easy way to create a playlist for mp4 files in TV mode. Rotable mounts are available and they have the advantage of playing sound and allowing you to plug in headphones. ![From Samsung's official store](/files/-MZuLS6Wz6tVlx40B6i3) ## Blackdove The [Blackdove frames](https://www.blackdove.com/) are commercial displays equipped with a powerful mobile application to manage your collection. The app has an integrated marketplace, a playlist feature, and allows you to upload crypto art originating from any other marketplace. The display size ranges from 55” to 95” and they can offer custom screens to fit any area. They can play both mp4s and stills, play sounds, and offer options for rotable mounts. ![From Blackdove's previous Kickstarter campaign](/files/-MZuLoAYEHp4YBCxn-OC) ## Infinite Objects The [Infinite Objects frames](https://infiniteobjects.com/) are small displays of 5” to 7”, which are video prints. Users pick one mp4 file they would love to display and the Infinite Object will come with it. There are no mobile apps, no playlist option, no sound. It’s as simple as plugging it in and putting it on your desk or shelf. It’s an affordable way to display one single artwork you love. ![From Infinite Object's website](/files/-MZuLz0jsgzqrKomY-Z6) ## Tokenframe Unlike the previously mentioned digital frames, [Tokenframe](https://tokenframe.com/) sell their products with cryptocurrency, more specifically Ethereum. This frame is quite simple to set up. Firstly, you have to sign-in in the Tokenframe application using your wallet, then you connect the frame to the WiFi and finally, through the app, you cast your the NFT of your choice on the display. The buyers have a choice between four different frames, to which they are all made of real wood with physical white mat borders. They sell in various sizes and formats, allowing different types of artworks to have their own unique frames. ![From Tokenframe's website](/files/mC1FIvdLQVvKzVshsgsq) # Metaverse galleries An overview of the top virtual environments to display your collection The digital has many advantages compared to the physical, one of them being the ability to display your collection in a virtual gallery. We’ll explore the top metaverses (blockchain-based virtual worlds), and virtual spaces to showcase your artworks. ## Decentraland [Decentraland](https://decentraland.org/) is one of the first metaverses created on Ethereum and has a vibrant community of builders and visitors. Users can purchase land with MANA, Decentraland’s native token, on which they can build any experience they like. It comes with a builder software if you want to create everything from scratch, but users can also visit the [metazone.io](https://metazone.io/metas) marketplace to purchase ready-made creations. Decentraland doesn’t support MP4 displays yet so expect only stills in your gallery. There is no support for VR headsets yet and Decentraland is a fully browser-based platform at this time. ![Bur0x's gallery in Decentraland](/files/-MZuO6SfmG4ftBsM1oc_) ## Cryptovoxel Cryptovoxels is a virtual world powered by the Ethereum blockchain. Players can [buy land](https://www.cryptovoxels.com/buy), build stores and art galleries with ETH. Editing tools, avatars and text chat are built in. Cryptovoxel has an aesthetic similar to the game Minecraft, but can display any type of file so the gallery experience is not distorted. Cryptovoxel supports both a browser-based and a VR experience for users. ![The XERO gallery in Cryptovoxel](/files/-MZuNibYBD4mNcQsZYjZ) ## Somnium [Somnium Space](https://somniumspace.com/) is a VR world on the Ethereum blockchain, where players can buy land, build or import NFTs, explore, and trade. Participants can instantly join from any device via Somnium WEB client or download the Somnium application locally on their computer to immerse themselves into persistent worlds via VR headsets. Somnium Space has its own token, the CUBE, but players can also purchase land and items with ETH on the marketplace. Both mp4 and still files are supported. ![Somnium Space's Trevor Jones Art event](/files/-MZuNYONa4L9G1xV6CGd) ## Sandbox [Sandbox Game](https://www.sandbox.game/en/) is a virtual world on Ethereum where players can buy land and items with SAND (Sandbox’s native token), build their own experiences, and connect with players. It is still in pre-launch, but it will support stills at launch and MP4s are expected soon after and offer a web-based experience to start. ![The Sandbox Game upcoming galleries](/files/-MZuNLI0-aok3sckaqXy) ## OnCyber [OnCyber](https://oncyber.io/) is a customizable virtual gallery space which connects to your Ethereum wallet to display your collection. It is not a metaverse, as anyone can build their gallery for free without the need to own land or a piece of the metaverse. It’s sole purpose is to offer a great gallery experience to artists and collectors, providing a simpler UX. It supports any file, links to the piece’s page on OpenSea, and provides additional information on the artwork and its creator. ![Bur0x's OnCyber exhibition](/files/-MZuMeOAonHa9GZ-QfBJ) ## Galeryst [Galeryst](https://galeryst.com/) allows its users to create virtual galleries with up to 80 artworks displayed for free. This platform was created to enable artists to create a 3D virtual gallery online and share their work with the world while creating a gallery experience virtually, especially after the closure of in-person galleries due to the global pandemic. To get started, you need to log in with an adobe account. ![Charlene Murphy Fine Art Compositions](/files/JAN8WQz1vYv0vyJpOcTW) ## Mona [Mona](https://www.mona.gallery/) is an open metaverse that supports the creation of unique and beautiful 3D spaces to create exceptional immersive experiences. They have multiplayer options, artist royalties, interactivity builders, token-gated access & events and AR & VR support. The spaces are unique 3D environments that can be minted on the Ethereum or Polygon blockchain and that can hold any unique digital assets placed within them. ![Pavilion 2039 by Bartacuss](/files/4c4h86YG4YLlkXiMVa3L) # Selling crypto art Tips and tricks to selling crypto art Some collectors purchase crypto art with no intention of selling for years to come, but sometimes it can make sense to capitalize on the growth of a piece’s value. Let’s explore some tips to successfully sell an artwork. ## As good as their floor price The crypto art market has the advantage of being fully transparent, which means an artist’s progression is public knowledge. Every time an artist makes a new sale for an equivalent piece (not including experiments or off-brand work), they update their floor price. In turn, this revalues the price of their previous work that falls under the same category. Collectors should keep track of the floor price of artists they have collected from in the past to benefit from their momentum in case they want to sell. As a rule of thumb, you can use this new floor price as your price target in case of a sale. ## Leveraging auction mechanisms There are multiple ways to approach listing a piece in your collection, each with a different impact on potential buyers. When the platform allows for reserve auctions, you can set a reserve at the price you are looking for or less to encourage bids and create a potential bidding war. You can also use a list price to indicate at what price you would be willing to let go of the piece, setting a clear signal on how you are valuing the piece and the artist’s work. The right solution depends on your desire to sell and the timeframe you hope to respect for the sale. ## Communicating your intent to sell While it is normal that at some point you may want to sell artworks from your collection, you have to be careful on how you voice that interest. Unless you want to sell at all costs, it is usually not wise to communicate it publicly (on Twitter for example), as it might look like you are desperate to sell. Instead, you can look at other collectors of that artist or of similar artworks and connect directly with them. It can also make sense to review the bidding history on other pieces from that artist as those who lost out in the past could be interested in this opportunity. # Minting your work Learn how to tokenize your work ## Introduction Minting your work refers to the act of uploading the artwork you would like to sell and to link it to a token, representing, in a way, its certificate of authenticity or your signature. The first step will be to set up your wallet and get some ETH, the cryptocurrency used to pay fees to mint, list, accept bids, and more on Ethereum-based platforms. You can check out our guides to setting up a wallet and to getting your first ETH. Then, you’ll be able to select the marketplace on which you’ll list your work. We’ll explore the advantages and disadvantages of each major marketplace and how to mint and list on them. ## **Choosing a marketplace** Minting your work on the right marketplace is crucial to your success in the space. As we have seen in our "**Main marketplaces**" guide, each one has a different curation process, different price mechanisms, different audiences, and more. Let’s review what you should consider when selecting your marketplace: ## SuperRare [SuperRare](https://superrare.com) is the largest and oldest running NFT platform dedicated to original cryptoart, with +$270M in total sales and more than $150M earned by artists since 2018. Each artwork on SR is an original and authentic 1/1 produced by a top digital creator, then tokenized for easy ownership and trading. The innovator of perpetual artist royalties, SuperRare is a user-controlled & curated marketplace governed by $RARE token holders, with a mission to revolutionize the economics of human creativity by building a new art market that anyone can access. Curation is decentralized on the platform, with artists being onboarded by curators at both SuperRare Labs as well as SuperRare Spaces, who are independent galleries on SuperRare voted in by $RARE token holders. SuperRare is a network of, by and for creatives, focused on shepherding the digital renaissance as an emerging global art movement that will radically alter our relationships to and participation with digital art. ## Nifty Gateway [Nifty Gateway](https://www.niftygateway.com) is a selective marketplace for crypto art artists. Some of the top crypto artists, renowned contemporary artists, and even music stars have made drops on the platform. [The selective process](https://www.niftygateway.com/become-creator) allows every drop to generate significant buzz and revenue for the platform and the artists. The Nifty drops give a lot of freedom to the artists who can do open editions, drawings, silent auctions, ranked auctions, and more. It’s not uncommon for artists to add quizzes or requirements like owning one of their pieces to enter drawings. As opposed to other platforms on this list, Nifty Gateway handles the minting process for the artists. ## Foundation [Foundation](https://foundation.app/) is a great marketplace to get started or to test out new collections that don’t necessarily match the style you have developed on another marketplace. There are no requirements to be an artists on the platform as it's open and free for everyone to use. Foundation only supports 1/1 pieces with a reserve price so if you are planning on minting a larger series you might want to look for another platform. You can [check out this guide](https://help.foundation.app/en/articles/4742869-a-complete-guide-to-minting-an-nft) to minting artwork on Foundation. ## MakersPlace [MakersPlace ](http://makersplace.com/)offers a great alternative to Foundation and SuperRare with more freedom regarding drop formats and a great collector audience. MakersPlace is well curated and requires an application process. Artists can create open editions, multiple editions, and 1/1s which can help to grow their collector base. ## KnownOrigin [KnownOrigin](https://knownorigin.io/) offers a great alternative to Foundation and SuperRare with more freedom regarding drop formats and a battle-tested platform that was the launchpad for some of the top artists in the space. KnownOrigin is a well curated platform and requires an application process. Artists can create multiple editions, and 1/1s which can help to grow their collector base. You can [check out this guide](https://docs.knownorigin.io/guide/creating-editions/) to minting artwork on KnownOrigin. ## OpenSea [OpenSea](https://opensea.io/) is a platform open to all creators where anyone can list any NFT. Artists who want to experiment with large editions or are struggling to find an invitation to Foundation can start on OpenSea. While it’s a great marketplace for collectibles, collectors do not value crypto art on OpenSea the same way they value it on the other major platforms because of its uncurated nature. Though, the marketplace has some interesting advantages like the ability to bundle NFTs, the ability to sell in custom currencies, and industry-low fees. You can [check out this guide](https://openseahelp.zendesk.com/hc/en-us/articles/360063498313-How-do-I-create-an-NFT-) to minting artwork on OpenSea. ## Rarible [Rarible](http://rarible.com/) is a platform open to all creators where anyone can list any NFT. Artists who want to experiment with large editions or are struggling to find an invitation to Foundation can start on Rarible. While it’s a great marketplace for collectibles, collectors do not value crypto art on Rarible the same way they value it on the other major platforms because of its uncurated nature. Though, the marketplace has some interesting advantages like the ability to bundle NFTs and daily rewards in RARI, its native token, to its active users. You can [follow the steps here](https://rarible.com/create) to mint artwork on Rarible. # Valuing your work Learn how to value your crypto art Valuing your work in the crypto art space can be challenging as collectors and artists alike are still figuring out how to price this emerging asset class. Expanding on [KnownOrigin’s FAQ](https://docs.knownorigin.io/guide/frequently-asked-questions/#how-do-i-price-my-work), you should be considering these factors when pricing your work: ## Uniqueness/originality How original is your artwork? Does it leverage other original works or are you innovating? If you create a truly unique piece and a style for yourself, your work will attract higher prices. ## Your reputation Are you an established artist or are you just getting started? What is the size of your audience? Have you worked for major brands or clients? Has your work been exhibited in museums and galleries? The more established you are in the crypto art space and in your artistic career outside of it, the more valuable it is. Also, if you have been selling artworks before crypto art, the prices you have been attracting should act as a floor for your crypto art when you get started. ## Edition size Did you create the artwork as a 1/1 or as a multiple edition? As a rule of thumb, the rarer it is, the more valuable it is compared to your other works. ## Level of effort/quality Did you pour your heart and soul into a project or did you play around with some concepts? While not always true, the level of effort put into a piece can be reflected in its quality and will command a premium from collectors. ## Comparables How are other artists with a similar style or background performing? Every artist has their own style, but you can find comparable artworks to help you understand how collectors are viewing pieces that have similar factors to those stated above. These factors should guide you when listing a piece but there are no exact recipes to establish the right price. Market conditions change quickly in the crypto art space as the price of ETH varies and market participants adjust their behavior. You should try to connect with collectors ahead of time to get a sense of how they value a piece. You should also set your own expectations and abide by them so that short term market conditions do not affect you.
# Listing schedule strategy Learn how to time your new mints and maximize your value ## Introduction As an artist, you want to control your minting schedule carefully to not overflow the market with pieces. Creating scarcity for your work is essential to ensuring growing value for your work and your existing collectors. As we all know, too much offering and not enough demand will rapidly make your market crumble. Many artists have been creating artworks for years and sit on an extensive portfolio they could mint. Though, it’s wise to only mint your best work and create new pieces that have this new medium in mind. There are only so many collectors in the market today, and only a few who can afford highly valuable pieces. ## Managing scarcity As such, an artist minting every day would see their floor price stagnate or decrease and previous collectors capitulating because no value is being created for their investment. By minting less often, artists can generate FOMO as collectors scramble to get their hands on the limited supply of pieces. If, on the other hand, they know they’ll be able to get a piece any time they want at the same price or lower, they will not be incentivized to make a move. While there is no one-size-fits-all schedule for minting works, we suggest minting a maximum of once a week and ideally less. It is also useful to not have multiple unsold pieces listed at the same time, hence why it is better to mint only your best work so you are confident it will attract interest from collectors. Scarcity is not siloed to any given marketplace. While you can experiment with multiple platforms, minting on multiple marketplaces during a short time period has a similar impact to minting multiple pieces on the same marketplace. This will play a role in your acceptance to highly curated platforms like SuperRare.
# Pricing strategy Learn how to leverage the various auction mechanisms and collaborate with other artists ## Introduction Pricing your work properly and leveraging the right auction mechanisms is crucial to attracting collectors and getting the price you want. In general, artists should initially leave their artwork open for bidding after listing it. This is a great tool for price discovery as collectors can outbid each other based on their personal perception of the piece’s value. It’s important to have a price target so that depending on the action on your piece, you are ready to accept an offer when it reaches satisfactory levels. Open bids can also lead to quickly escalating bidding wars, resulting in higher prices for artists. So, it’s their responsibility to evaluate these dynamics. ## Stimulating offers In some cases, artists might not receive the bids they were looking for with the open bid approach. If it’s been a few days or weeks without bids at the expected price, the reserve auction mechanism becomes a great strategy to attract the attention of collectors. The reserve price indicates exactly what bid is required to start a 24 hour countdown. The artist can play with that price. For example, by indicating a lower price, they can spark the interest of collectors and generate a bidding war. Reserve prices don’t guarantee a bidding war or that the piece will attract the required bid in the first place, but they remove some of that price discovery at the benefit of transparency. If the reserve auction fails to attract collectors after a few days or weeks, artists can always resolve to a list price or a “Buy Now” option. This removes the potential for bidding wars and can indicate to collectors your eagerness to sell which can lead to smaller bids in the hope they are accepted. While the list price strategy can work well for multiple editions, it is suggested to reserve a price as a last resort for 1/1s. ## To ETH or not to ETH As a rule of thumb, artists should always look to increase their floor price denominated in ETH from one sale to another so that collectors are rewarded for supporting them and the artist’s value can grow over time. Though, market conditions should be considered and can influence how the floor price is considered. In a market where ETH is rising steadily, artists might have to result in reviewing their floor price in dollar value instead of ETH. ## Collaborations Crypto art is a collaborative space which brings artists together. Artists of varying status often partner up to collaborate on artworks and as such, it’s important to set a standard for how the revenues from a sale will be split. Artists and musicians alike should always split the profits equally unless the level of work provided by each party is expected to differ significantly. This way, artists involved are empowered by the collaboration and it can act as a springboard for their career by exposing themselves to a new collector base.
# Brand building & outreach Learn how to establish your brand in the crypto art space and connect with peers ## Introduction The advantage with crypto art is that it is a social market for artists of all sorts. Embracing its social nature will allow you to thrive in this space. In a decentralized world without third parties, agencies, and other gatekeepers like in the contemporary art world, artists can now easily promote themselves and their work. It is essential for artists to connect directly with collectors and their peers, while building a recognizable brand that collectors will want to be associated with. While Instagram is still very popular among artists, most interactions within the crypto art world happen on Twitter, and to a certain degree, Clubhouse. ## Twitter Twitter has become the business centre of the crypto art industry. Through this platform, collectors are able to connect with artists and artists can build a following. To be successfull on Twitter, it is recommended to: * Actively comment on artist's and collector's threads to become part of the conversation; * Connect with like-minded artists who can become your allies and supporters; * Promote your bids and sales and build relationships with your existing collectors; * Contact collectors who have a collection that matches your style of work. Even though this method is often underestimated, the exposure provided by collectors and artists that believe in your work will be your best tool to get discovered by new collectors. Posting engaging content will frequently go a long way to helping you grow your brand. Furthermore, many artists will message collectors in the hopes that they will discover their art and purchase available pieces. Direct messaging can be a useful way to attract the attention of collectors but it has to be done properly to not be dismissed. For example, it’s important as an artist to review a collector’s collection and find similarities with your style. If you are a surrealist artist, try to find collectors who have already collected pieces of that style. Keep in mind that collectors are human beings before being investors. Personalizing a message with their name and showing that you have taken the time to learn more about them will increase your odds of receiving a reply. In general, unless solicited, artists should not randomly "shill" their art on every post or to any collector. Collectors like exclusivity, rarity, momentum. If you appear desperate and inconsiderate, you will have a tougher time selling your work. ### Twitter Spaces "Spaces" is a new function on Twitter which allows you to have live audio conversations. Twitter Spaces is a platform widely used by the NFT community, to which many of the top NFT Twitter accounts are using it to boost their cause. As a creator of a Space, you become the host and you can have a co-host. There are two ways to create a Space: either by long pressing on the Tweet "Compose' icon on your home page and tapping the Spaces icon, or by tapping on your profile image at the top of your timeline. When creating the Space, you can also name it. Spaces is a public platform where listeners can join, whether they are invited through a link or not. It can support up to 13 speakers simultaneously. Listeners can also request permission to speak and the host can choose whether to accept it or not. This platform is a good way to get your voice heard and create connections with others. It helps establish a good community where your followers get to interact with you live and you get to know them as well. ## Clubhouse Clubhouse has emerged during the pandemic as a leading platform for audio chat, panels, and conference-like events. Every day, dozens of clubhouse chat rooms focus on crypto art and involve some of the top artists and collectors in the space. It has also become a destination for pre-launch and post-launch events, like with the Beeple Christie’s auction for example. Overall, it is a great platform to learn from major players in the industry and connect with like-minded individuals. ## Discord Discord is a group-chatting platform that is home to many crypto art communities. Artists and collectors coordinate communities around common interests, holdings, and more. For example, many artists have created their own Discord community reserved to people either already holding their artworks or interested in acquiring one. It is a great way to have live discussions, connect with like-minded individuals, and even get a direct line of communication with collectors that could be a good fit for your work. ## Other tips Collectors value an artist’s background and audience. It’s important for artists to provide concise bios on their marketplaces’ profiles and to provide links to their various social media profiles, marketplace profiles, and artistic profiles using link solutions like [linktr.ee](http://linktr.ee). Having a website is also a plus as you are able to present yourself the way you want to, without platform restrictions. Remember that the more collectors can learn about you, the more they’ll be inclined to take a chance with you and your work. In the eyes of your community, it is also important to be yourself and authentic. You have to show that behind the art, there is an individual with values and convictions. Your identity as an artist matters as much and even more than the artwork itself.