10 Things Parents And Kids Need To Know About Crypto Art
Collecting Crypto Art may sound appealing aesthetically and money-wise but, here are things you need to know about it.
Collecting Crypto Art isn’t just about making money but also about safeguarding artworks. A lot of times, many small-time graphic designers found their works stolen by bigger companies but are unable to prove it. It’s why some may be hesitant despite the chances of making money out of these Non-Fungible Tokens (NFT). However, before getting into it, here are some things parents and kids should know about collecting crypto art from Galeria Paloma’s Talk, Perspectives, last October 7:

1. Crypto art is a way of collecting art with a more “secure” method.
It’s easy to download art or images from Google, which also makes it easy to replicate. Because of this, a lot of graphic designers often don’t make as much as their traditional counterparts. Collecting crypto art is a way to make sure that although the art could still be produced, whoever has the original NFT (non-fungible token) is the one who can dictate the value.
2. Non-Fungible Tokens are what prove a Crypto Art’s Authenticity
Each form of digital art will eventually have a Non-Fungible Token which will prove its authenticity. “On the blockchain, crypto art can now be easily minted or registered, offering an immutable, non-fungible token (NFT) for rightful owners and creators alike,” shared the Head of Tokenization at Sygnum Bank Fatmire Bekiri.
3. The blockchain also protects the artwork from losing its value.
Digital art often loses its value quickly because it’s easy to transfer files. But the blockchain protects the timestamps and source of the artwork behind an encrypted code to prevent it from being easily changed. According to Stern, the blockchain that protects the crypto art is based on three rules:
- You can only add data to it.
- You can’t modify or remove the previous data.
- The following piece in the blockchain must be verified by the previous piece.
This means any form of hacking can’t just modify the chain, protecting the authenticity and value of your art piece.
4. Every person who wishes to buy goes through a strict security check.
Because some may try to scam others, companies make sure they scrutinize each and every application that comes in. Binance recently had 450 applications but only accepted 5 out of the 450. “It’s a very, strict, stringent process in order to get listed directly on our platform because we have a strong community ecosystem [in which we want to] build that trust; anti-money laundering; and the KYC [Know Your Client/Customer] process is all also very, very important to us as well. We have a 500-person compliance team globally. Many of them are law enforcement that help protect our users,” adds Stern.
5. Crypto art isn’t going to take away the value of traditional art.
Traditional art pieces made with a brush, paint, and canvas will always have value. But crypto art was known to quickly lose its value due to how quickly it could spread on the internet. NFTs then make sure that digital art doesn’t lose its value in Web3 or the 3rd generation of the worldwide web.
6. NFTs grant more autonomy to artists who engage in crypto art.
Because of the rampant stealing and reproducing of art, graphics designers and illustrators often find themselves at wit’s ends. But NFTs help artists these days choose where they can drop their art and how much they can sell it.
7. Using NFTs to engage in crypto art creates a special relationship between the artist and the collector.
The NFT functions like a timestamp to mark the day the person bought the art from the artist. This would make sure that regardless, the original will always stay with whoever bought it and will allow it to retain its value.
8. Bonding with the artist is an important part of collecting crypto art.
In the crypto art community, there are three kinds of buyers: collectors, traders, and flippers. Collectors are those who take the time to engage the artist to learn more about their art and the community they’re painting for. Traders see crypto art as a lane for making money by buying, selling, and trading. Flippers are those who gamble with it.
9. Minting crypto art requires cryptocurrency.
According to some sources, minting a piece of crypto art needs a bit of cryptocurrency known as Ethereum which can be mined or traded. This is why Graphics Processing Units or GPUs became so expensive in the market and why some just chose to buy them instead.
10. Companies exist to make sure that the trade or the transaction is legitimate.
Nothing’s worse than getting scammed and that’s why companies exist to monitor the transactions. These “middlemen” as some would call are the ones who make sure that everything goes smoothly when collecting crypto art.

Crypto art is a bit of a gamble but it’s good when you hit the right one.
Collecting art will always be a gamble whether it’s crypto or traditional. But before getting into anything, it’s always good to do some research or join talks that speak about it. Galeria Paloma is always finding new ways and educating those who want to get into collecting crypto art. Don’t forget to follow them on their Twitter and Instagram!


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