The revolution of NFTs

5 min read
Svea Berlie

The revolution of NFTs

As the internet is evolving from Web2 to Web3, NFTs are also evolving. There are currently several categories we can place NFTs in. The two categories this article will focus on are firstly, the very popular and, often overhyped, community NFTs. This has been the (largely) dominating force behind the recent NFT-boom, known for its animals used in the art (Bored Ape Yacht Club, Bored Mutant Llamas and so forth).

The other category of NFTs are the art NFTs. Artists’ collectable digital art, minted onto the blockchain and often unique to one owner (1/1). Art NFTs have created a whole new section in the art industry itself, and it’s not a "get-rich-quick" scheme. These pieces of digital art are truly beautiful and here to stay.

We’ve entered a new era for many industries and the art industry is one of the big industries affected by the Web3 changes and movements. Our digital lives are becoming increasingly more important and thus also the way we are perceived online. NFTs have opened the door to many possibilities and we're excited to take part in this revolution.

NFTs have awakened a need for expressing who we are in the digital world. And it's not all Web3, even Twitter has recently added a feature to use your NFT as your profile picture and give it their verification. Rare NFTs can be used to show a certain status online. Other NFTs may even be wearables in the metaverse. However, our attention is not on the JPEGs and the “insert your animal here” images. We seek out digital artists that are creating unique pieces of digital art. Moving, stills, with or without sound, it has been an absolute joy going through the submissions for the Authic artist platform.

The art industry has long dealt with difficulty in proving the authenticity of an art piece. For those wanting to know more about fraudulent artwork in the art industry, we highly recommend you watch "Made you look" on Netflix. A true eye-opener about the way we perceive art and define its authenticity. Luckily, with our platform, NFTs and digital art, authenticity is easily proven and traced. This is one of the most important changes in this Web3 revolution in our eyes. You can't fake it until you make it, you have to actually make it yourself!

We like to stay realistic, and know that it's not all positive changes. A big downside to this revolution is the overflow of art being made, causing an overly saturated market. As we mentioned, the community NFTs have really taken over the NFT space. We're aiming to change the direction that art NFTs are moving towards, with a focus on the artists close to our home, the Benelux.

We want to provide you with a curated platform with the most beautiful digital art pieces. If you look at the trading volume on Opensea, it's gone down 72% since the beginning of this year. This proves to us that the people want more from NFTs than what they are currently getting. They want real artists and their art to invest in, not an AI-generated collection that is at risk of losing its value faster than it gained it.

We're excited to come closer to the launch of our platform and we're pleased to tell you that we are extremely impressed with the talent coming from the Benelux. Seeing all these beautiful works has proven to us that these digital works deserve a beautiful place on the mantelpiece, be it virtual or physical. We believe in the future of art NFTs and the future use-cases of NFTs. We can't wait to see where NFTs will take us while we focus on launching!

If you want to know more about Web3, read our article here

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With web 3.0 the world is starting to move from pages to places. Therefore, we have to change the way we look at art.

Wouter Kloosterman
Wouter Kloosterman
CEO, Authic