HOW WILL COLLECTIBLE NFT CHANGE THE ART AND GRAPHIC DESIGN INDUSTRY?

Graphic design is gaining great hype in these modern times. Everything you see on social media is all about graphic designing. Be it small posts, pictures, hoardings or banners everything requires a spice-up from graphic designers.

If you haven’t heard about NFT, well you have ended in the right place. This year Non fungible token services companies gained so much popularity all around the world. NFTs have literally broken the market. From platforms like news to Instagram, Twitter to reels, NFT has gained popularity. In recent times, NFT has revolutionized the art and graphic design industry. So, let’s break it down in simpler words. NFT is an asset that exists in digital form and you can’t touch it and you can just own it. It can be an article, any artwork, any music, content or meme which can be sold digitally. NFT has great prospects in the future.

For creators, NFT is ownership of digital art through which they can earn lots of money.  The rise of NFT allows creators to sell, rent digital artwork and build NFT in their own space. In order to sell NFT’s designers need to have some kind of legal ownership of their work. So, after this art is created, NFT’s are minted on the service of blockchains. Blockchains record all the information in a way that makes it reliable and very difficult for hackers to crack or create a scam and makes it very useful for copyright ownership and record creation. This allows artists to get digital recognition. It’s a new way for digital artists to monetize their work and sell it online while earning a commission. It’s a very quick process and designers can easily reap the benefits of their artwork which they wouldn’t have received if they would have sold it in a traditional way. Also, there’s a benefit that there is no need to prepare files and print receipts. NFT’s also come with royalties which means the digital artists can earn royalty every time their artwork is sold on the platform and earn up to 8-10% on all sales. Also, the value of NFT is based on Cryptocurrency because they are sold on the basis of Ethereum and it is translated into monetary value.

The NFT market has experienced tremendous growth this year. Thousands of creators have found new ways of connecting and this in turn has changed their life. NFT’s are growing at a pace of 187.28% compound annual growth rate. NFT can revolutionize the whole entertainment industry. They have taken over the memes, digital art industry, music albums and so much more. NFT has the potential to be the next new hype on the market.

NFT’s have the following advantages:

• NFT’s have a user-friendly interface.
• NFT’s provide a great platform to easily store and attach files.
• NFT’s provide a great platform for digital artists to grow their brand.

NFT’s are an excellent way to create great experiences for clients and engage with the target audience. Despite it being a relatively new concept, it is something that huge companies need to keep an eye on in relation to the marketing strategy.

Earlier artists made money by selling their artwork in shops or on exhibitions but with this new innovation, every artist in any corner of the world can sell their work online and earn a handsome amount. NFT grants designers access to global audience reach.

The selling of NFT has the potential to transform the entire creative industry and is definitely the most trusted and reliable platform for artists and the graphic design industry.

Before NFT’s there were very few or no platforms to sell arts and graphics. People used to post their artworks on social media handles just to gain popularity but there was no platform available for selling artwork. But after blockchain technology and cryptocurrency were introduced to the era, digital artists and graphic designers got a huge platform to sell their artworks online and make a passive income out of it.

There is no limit to creativity as you can upload and see how worthy your artwork is. The design industry can become a millennium by uploading artwork to NFT marketplaces.

NFT may change the art and design industry as they work just the same as cryptocurrencies and they can be counted as valuable assets. The buyer holds the right of ownership and can also decide to be paid a certain percentage every time that piece of art is used as a copy. This obviously is a profitable future of owning an NFT.

We at Monkhub aim to make your work easier as we assist you in Developing NFT’s from our superior and well-trained experts. For more details feel free to reach us at https://www.monkhub.com/ or contact us at +91 9090080015