Introduction
As a Non-Fungible Token, your artwork is not a fungible token like any money. This in itself makes your NFT art a valuable asset indeed. NFT art can be worth any amount as they are subject to an auction style bidding by willing buyers. But the non-fungible nature of NFT art is only one of several reasons why the tokenized digital art is valuable.
Sole Ownership of NFT Digital Art Another reason why NFT digital art is valuable is that you have sole ownership of your crypto artwork. After creating your digital art, you need to turn it into a crypto art. You do this by minting the artwork on Ethereum blockchain via a NFT marketplace. You enter into a smart contract with an NFT marketplace by connecting your crypto wallet, submitting your crypto art, and paying the GAS fee in Ethereum. The minting of your digital art bestows on you sole ownership of the NFT art.
Sell-on Royalties
While you can sell your NFT art on an NFT marketplace, you would still receive royalties on the asset. If the buyer of your NFT art decides to sell-on the crypto art, you will receive a percentage of the sell-on value. You will continue to earn royalties as long as the NFT art is continually sold to other buyers. This further emphasizes your sole ownership status of the NFT art and receiving royalties on your crypto art is similar to earning royalties on intellectual property.
In Closing
Your NFT digital art is valuable because it’s value is not fixed. You could sell an NFT art for a fortune and still be making money from royalties due to your sole ownership status. If you would like to know more about why NFT digital art is valuable, please visit https://www.digital-art-nft.com.
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