How to turn PHYSICAL artworks into NFTs!

now guys the question is can you turn a physical artwork like a painting or a sculpture into an nft and if so how the answer to this question is a clear yes but the process itself is not as easy as you might think there are a few things that you have to keep in mind and this is what i'm gonna talk about in today's video before i continue two important things the first one and as we talk about crypto let me make this clear i am not a financial advisor and i do not give any financial or any investment advice in this or any future videos this one is for educational purpose only so please do your research before you throw money at something and second if you like the content smash the like button and subscribe to my channel and now let's get started when we visit big market places like nifty gateway or maker's place it currently looks like the nft space is reserved for digital art only but this is not true and i'm gonna show you why in a minute digital art is so omnipresent right now because the restrictions it has and the solutions non-fungible tokens provide fit perfectly together so for the first time digital art can be classified as unique ownable and tradable furthermore digital artists were among the first to take up crypto related topics in their work and this of course receives a lot of attention and traction considering who the current buyers and collectors are many of them are operating in the crypto space for years now and quite a few have made a load of money that is now ready to invest at the same time and this is absolutely fantastic too artists working with digital tours finally get the attention they would have deserved from the very beginning on and i am personally so pleased for all of them who cash in big right now because i know how much hard work and dedication it needs to get where they are at this point in my opinion and when the first hype is over nfts will reach the broad art market and also incorporate artists who don't exclusively work with digital tools so this will simply happen because of the many advantages of the blockchain the blockchain allows us to record the origin or the source of an artwork at least when the drop is curated by a marketplace like nifty gateway and it makes it easy to keep track of every future sale and every future ownership in the long run nfts have the potential to largely replace art galleries and how they interact as an intermediary between the buyer and the artist but don't worry this will probably not gonna happen anytime soon so if you work in this field you still have plenty of time to adjust but be aware things are going to change forever and now let's return to our initial question how can you participate as an artist who does not use digital tools by digitizing your work easy right but be aware that while the actual digitization process is simple you can take pictures with your phone you can buy a 2d scanner on amazon for 100 bucks or you can even commission someone who offers a professional service including color correction it still rises the question what happens to the work after digitization so which one is the original and unique piece is it the physical item is it the nft is it both is it none now the thing is and this is important it's up to you to decide you have several different options here and all of these options probably require you to rethink your creation process so let's take a look at what some of these options are option number one you declare both pieces the physical and the digital as unique so in this case you can sell both or you can only sell one you could even sell them separately to different collectors or you can sell the nft and add the physical artwork on top or vice versa then it's up to the buyer how he handles this place and archives both pieces option number two you digitize the artwork and simply destroy the physical piece so this sounds radical but it makes sense burn it or throw it into the shredder after tokenization this way you end up with only one unique digital artwork you can record the shredding process and add it as an unlockable video content to the nft for instance option number three if you don't like the idea of destroying your work simply make it part of the creation process and declare it as a necessary tool that was needed to create the final digital piece so in this case it would then be considered as something like a master model or even something like a mold that was used to create the final digital artwork this also means that it stays in your workshop as a tool and it's not for sale option number four the physical piece is not the final artwork but the starting point for digital enhancements so this means that you use the painting or the sculpture and turn it into an animation for instance the outcome would then be the final unique piece of work and last but not least option number five you can also go the other way around and create the digital artwork first and then add an additional physical representation like people did for his first drop on nifty gateway he was shipping a physical token containing high quality prints and a display that shows the artwork to the buyers of his nfts now i am pretty sure that there are many more ways and possibilities to combine everything that i've just listed and to prove that this is not just dollar theory and that it gets handled like this already in practice let's take a look at a few prominent examples when you go to niftygateway.com and take a look at the marketplace and here let's scroll down to the very bottom of the page where we can find a drop by michael kagan then you can see that this one mainly contains actual paintings so let's select this one here eldren it was the first of an edition of three and this one is clearly an image of a painting and guess who owns it it is owned by tyler winklevoss one of the winklevoss twins and this of course makes perfect sense because nifty gateway belongs to gemini and gemini was founded by the winklevoss twins and let's also take a look at the market stats this one was created almost a year ago so it's probably the first one or one of the first drops that took place on nifty gateway the original market price is 5000 us dollars and the number of secondary sales is still a zero let's also take a very brief look at the profile of michael kagan on nifty gateway and here it states that he's known for his traumatic paintings of man pushing the limits of nature through technology and let's go to his instagram profile and to be honest i'm not so familiar with his work but it looks like he's mainly a painter and he has lots and lots of stunning pieces in his portfolio i mean just look at this one here absolutely amazing another very successful and great artist hosted the nifty gateway is trevor jones he already did a couple of drops the first one took place in july last year it was picasso's bull and this one also started as a physical painting an interesting detail here is that the nft of the original of this one here edition of one has been sold for more than the actual physical painting so this one here was created july last year and it was sold for a little bit more than 55 000 us dollars and as far as i know the physical painting was booked for something like 50 000 so this one was then withdrawn by the owner in august last year and it was listed again a few weeks ago for a pretty high amount for a little bit more than 5.5 million dollars trevor jones has an interesting essay on his website written by bill hare about the creation of picasso's bull here you can see some details the man in the picture is bill hare not trevor jones and at the bottom of this page there's also a short video that illustrates the creative process behind because bull the last thing i want to mention is that he did not only release a still image but also an animation so as you can see that's the same bull but this time animated for the gold for the silver and the bronze edition as you can see it's up to you to decide what you make out of it we are still at the very beginning of this entire nft movement so this also means that many issues are not solved yet i hope this video was helpful if you like the content subscribe to my channel thumbs up if you have any further questions leave them in the comment section below the video i promise i will read all of them thanks for tuning in and see you in the next one

Channel: 3D Gladiator

Views: 319,241

Keywords: crypo currency, nft, non-fungible token, ethereum, nifty gateway, smart contracts, blockchain, explained, digital art, opensea, fungible, ERC721, rarible, ether, nftart, cryptoart, beeple, drop, superrare, makersplace

Id: 99wzZFrPJxc

Length: 9min 58sec (598 seconds)

Published: Fri Mar 05 2021