Gucci, Mark Cuban, Snoop Dogg discussed on TED Talks Daily

TED Talks Daily


And because of NFTs, anyone, not just well-known companies like Gucci, can create digital fashion to be bought, sold and worn, and games, online platforms, and even in Avatar fashion shows. Take the pioneer 18 year old ferocious, who was way ahead of Gucci with his crypto art and digital sneakers. The use of augmented and virtual reality fashion is becoming mainstream. But because NFTs, as art and collectibles, are so new, the predictions are too volatile for anyone to make. But it is a sign that heavy hitters like Mark Cuban and Snoop Dogg are investing heavily. This is a new frontier for artists and their fans. And just like in the real world, an artist can sell a one of a kind piece, make limited editions to control for scarcity, show an art show in art galleries and marketplaces. But with NFTs, you can all say sell directly to your buyer without an intermediary. Collect royalties on all future resales. Expand your audience to the entire Internet, show in virtual galleries and virtual worlds and sell 3D objects and clothes to virtual humans. Okay, so how does this work and how do you get involved as an artist? Your artwork is a digital file. To protect this file and capture the value of your labor in perpetuity, you go to a digital goods marketplace and meant it, meaning you register your work as a token for a fee on the blockchain. It will contain a signature, timestamp, and any rules around its resale. Once you have mentioned your work and you want to sell it, you connect with your community and let them know that your NFT has dropped, meaning it is for sale. It is important to note that all the same rules that make for good art and good business apply in the virtual world. A strong connection to your followers. An authentic or compelling story. And consistent output and work ethic. So who will buy your art or how do you get involved as a collector? Buyers go to the same marketplaces that artists use. There you look for art that you appreciate and artists you want a direct connection with. Some people invest because the artwork resonates with them. Or they recognize great talent..

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