Digital NFT or material collectible?
Digital NFT or material art in the storage?
Here are a couple of questions. Why do we need a digital NFT of a painting when the material painting is available for purchase? And which one is more expensive, NFT or the material painting?
And a few other situations.
1. No receipt: the material painting was acquired abroad, or a long time ago;
2. The foreign artist is not known in the West;
3. There is no comparative data at sites like Artnet.com and Artsy.net;
4. The material painting cannot be exported from the foreign country;
5. You do not own the material painting, but can obtain the right to make the NFT of it and keep or dispose of the NFT;
6. You are the owner of the material painting, and you want to keep it.
The answers to the first two questions are simple.
We need an NFT because the NFT is the first, the unique, the scarce image of the original art, certified by blockchain network. It is also eternal and self-sustainable proof of existence and ownership. The material painting may be lost, stolen, or may perish in fire or in other disaster. The NFT will live forever. The ownership record to the specific owner will remain forever. It is guaranteed by the nature of the Blockchain.
An NFT may be many times more expensive than the material original, it is a fact. Search the internet and see for yourself if you’d like to prove me wrong.
Follow me for the outline on the remaining six points.