Joe Chiappetta from pixEOS whose art you can see featured above this article wrote this great blog post about Digital Art. In this post he defines what digital art is (can I coin a neologism “digitart”?), talks about its characteristics and its value and what excites him about it.
The post is entertaining and worth reading in its entirety. But I would like to quote this paragraph:
Rare digital art means that on a blockchain, the cryptocurrency (or tokens) issued through these networks are now able to be linked to specific artworks. The artwork details get coded and recorded on the blockchain. This data is designed to last for the lifetime of that blockchain. In the same way that cryptocurrency creators can specify how many units of their cryptocurrency they will release to the world in a limited supply, and which users own which cryptocurrencies, the same features are now happening with digital art.
For those of you who follow pixEOS you know that they recently released their roadmap of which a dGood blockchain standard, digital art gallery and an auction house are a big component.
I am particularly excited about an opportunity to buy rare and unique digital art using a dGood token and paying with cryptocurrency. Just imagine owning a piece of digital art backed by an NFT (non-fungible token) and what possibilities it uncovers?! To me this is whole concept is so new and unique that it is comparable to getting an early chance of owning a Mona Lisa or a piece by Jean-Michel Basquiat!
I will let your imagination run free here. But I can envision people displaying their digital art collections in their homes on digital canvases hanging on the walls. Or even running galleries somewhere in New York’s Greenwich Village, London’s SoHo or Paris’ Montmartre.
This concept is completely new. And I believe it the market opportunity here is tremendous. Also, unlike the traditional art world, because it is run on the blockchain, there is not an intermediary sitting between a seller (artist) and a buyer (collector), which makes both parties in the transaction really happy.
So get to understand the digital art market better while you can. Get ready so that once an opportunity to buy it with cryptocurrencies presents itself really-really soon, you will be off to the races. And who knows, maybe you’ll acquire a formidable digitart collection that will cast a shadow on collections of the most powerful art museums in the world, but at a fraction of a cost!
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