<div class="page" title="Page 1"><div class="section"><div class="layoutArea"><div class="column"><p> <span>Not a day goes by that we don&#39;t hear about NFTs, these “Non-Fungible Tokens” which are about to make their debut in the 2023 edition of Larousse... On the art market side, these famous tokens raise many questions and controversies. So what do you need to know before acquiring a digital work? The Official looked into the matter.</span></p></div></div></div></div>

<div class="page" title="Page 1">
  <div class="section">
    <div class="layoutArea">
      <div class="column">
        <p style="text-align: justify;"><span>Today, there are countless artists, gallery owners, auction hoouses or platforms of all kinds who seize NFTs, these "tokens" which act as a certificate of ownership, stored on the blockchain. These are supposed to provide real security, authenticity and traceability, both to the artist and to the buyer: a combo that is priceless.</span></p>
        <p style="text-align: justify;"><span>The art market is going through a gigantic digital revolution, and is trying to establish solid bridges between a physical world and virtual dimension. The metaverse seems to embody a new field of possibilities where brands and artists can build new communities, target new audiences, and design ultra-personalized experiences. In 2021, 40.9 billion dollars were spent on the purchase of NFTs, these famous "non-interchangeable" tokens, according to a report unveiled by Chainanalysis.&nbsp;</span></p>
        <div class="page" title="Page 2">
          <div class="section">
            <div class="layoutArea">
              <div class="column">
                <p style="text-align: justify;">A dizzying amount that invites the art market to adapt to this new complex and exciting perspective.</p>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
  </div>
</div>

<div class="page" title="Page 2"><div class="section"><div class="layoutArea"><div class="column"><p> <strong>What do we call “Digital Arts”?</strong></p><p style="text-align: justify;"> <span>Digital arts are made through digital devices, like computers for example. We also talk about virtual art, network art, or even “cyber-art”. Digital works can take the form of a photo or a video, but also special effects, video games, or animated gifs. An easily &quot;copyable&quot; format which has not always been easy to sell for gallery owners and artists.</span> </p><div class="page" title="Page 3"><div class="section"><div class="layoutArea"><div class="column"><p> <strong>How to acquire NFT works?</strong></p><p> <span>You must first create your own wallet, on MetaMask for example. Generally, an NFT is acquired in cryptocurrency. Once paid, the NFT is sent directly to a USB key and to your virtual wallet.</span> <span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">The second you become the owner of an NFT, a unique code is assigned to it. It thus becomes a digital work that cannot be reproduced or copied.</span></p><p> <strong>Titanic prices?</strong></p><p> <span>Since the sale in 2021 of an NFT by the artist Beeple at Christie&#39;s for 69.3 million dollars, spectacular records have multiplied.</span> <span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">Fortunately, many artists can set the prices they want. This is for example the case of the artist 13 Bis, represented by the famous historical photographic fund Roger-Viollet, installed since 1938 in Paris.</span> <span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">The latter put digital works in NFT format</span> <span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">on Danae.io</span> for sale for the very first time <span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">, at deliberately cheaper prices than physical works. A strategic bias for the artist who hopes to introduce his work to a new public.</span></p></div></div></div></div></div></div></div></div>

<div class="page" title="page 5"><div class="section"><div class="layoutArea"><div class="column"><p> <span>We asked Rachel Chicheportiche, the President of</span> <span>Danae.i</span> <span>o, a cultural engineering consulting agency positioned on NFTs, based in Paris and New York, what her advice was before investing in NFTs.</span></p><p> <span>The expert suggests that future buyers acquire works by artists whose work they love, of course, but also not to hesitate to closely follow the work of emerging artists.</span></p><p> <span>Rachel Chicheportiche indeed advises to “</span> <span>start by taking an interest in the communities, on subjects on which we are sensitive, and to follow one or two communities on discord or Twitter, before investing in a purchase</span> <span>”.</span></p></div></div></div></div>

NFT: what should you know before buying a digital work?

Tags

Related Articles

Art

3 Artists Taking on the Metaverse

Hommes

Prada Ventures Into the NFT Universe

Art

Go Into the Petaverse With Dogamí

Recommended posts for you

Fashion

The History of Calvin Klein

Beauty

Hailey Bieber Returns to the Nineties Bob

Ibiza

The Editors’ Pick: Barbara Bonner, Head of Socials

Soul

How Do Men Know They Love a Woman?

Ibiza

Ibiza Dreamers: Eric & Aleix Sanllehy

Fashion

12 Provocative Fashion Campaigns That Challenged the Limits

Fashion

History of a House: Martin Margiela

Ibiza

The Mystical Energy of Ibiza's Ley Lines