Welcome to the World of NFT Art!
This page will help you gain a basic understanding of NFT’s and why investing in the NFT & Merchandise Bundle on offer is such a special and unique opportunity.
NFT’s and the world of blockchains and crypto is not hard to understand, but it does have its own language which can make it seem more complex than it really is.
We have tried to keep this explanation in ‘layman terms’ as much as possible but if there are things you don’t understand, please just reach out and ask.
So, What is an NFT?
NFT stands for Non-Fungible Token.
In a nutshell, an NFT is a digital asset that is hosted on the blockchain (we have an explanation of the blockchain below).
The term ‘non-fungible’ means something cannot be replicated, duplicated, or divided in any way. So unlike documents and images that get shared around the web that can have thousands of copies and rip-off versions, NFT’s are far more protected in their original form.
NFT’s can be music, games, videos, artwork, documents, contracts, playing and trading cards … basically anything digital. Someone even added their Last Will & Testament to the blockchain and made an NFT out of it! Go figure!
What is NFT Art?
In our case here, we are talking about NFT Art, which is just like a physical piece of art, but digital.
So it could be an illustration or drawing that was scanned and made into a digital version or something designed on the iPad with iCreate, or even just a bunch of pixels put together, as we will see below.
They can be static or moving images, video, or a mashup of all of that together. Holograms are also being created into NFT’s right now in some very funky ways.
NFT’s have truly taken creativity and art to the next stratosphere.
Why Are NFT’s So Special?
The key value of an NFT is once it is ‘minted’ to the blockchain, it is given a special token so it cannot be replicated, and its authenticity is guaranteed.
It can also be traced to the original owner or artist, no matter how many times it changes hands.
So it becomes a one-of-a-kind.
Thus creating value.
And sometimes, massive value, particularly in the Art world.
Check out how much these Art NFT’s sold for recently …
Beeple, here on the left, sold at Christie’s Auction recently for $69 million.
Yes, you read that right!
And the bunch of pixels above here, known as Crypto Punk Collectibles … well you can read there how much they sold for. Yes, the dude with the pipe in #1 sold for $7.57 million!
Beeple, in the top image, sold at Christie’s Auction recently for $69 million. Yes, you read that right!
And the bunch of pixels below that, known as Crypto Punk Collectibles … well you can read there how much they sold for. Yes, the dude with the pipe in #1 sold for $7.57 million!
A Quick Lesson on the Blockchain, before we go on …
For every cryptocurrency and NFT that is bought and sold anywhere in the world, those transactions are completely traceable.
And more importantly, all transactions are verified by hundreds of thousands of computers around the world, all running the same ledger verifications, all at the same time.
That’s what makes up the decentralized system known as the “blockchain” – basically a series of computers around the world that verify transaction ledgers.
You may have heard the terms ‘mining’ and ‘Bitcoin Mining‘.
They are terms used for verifying the transactions.
‘Miners’ use special computer equipment set up to verify the transactions. Thousands or millions of verifications a minute.
And anyone can be a miner. Everyone from large corporations to people in the basements of their houses in the US, Australia, and loads of countries around the world, are mining 24/7.
But the big key to the blockchain and why it’s so special, is it’s completely open-source and owned by everyone. No one person, government, regulator, or corporation can interfere with the running of the blockchain.
Yes, the blockchain is giving the power back to the people!
Common blockchains you might hear of are Bitcoin, Ethereum, and more recently Matic.
We use the Ethereum blockchain, the biggest one, for our NFT’s.
Why Are NFT’s So Important to the Art World?
Never before have we seen such a time in history like this, where everyday artists can take their rightful place in the art world.
Not in a gallery where few people ever get to display their work and even fewer people ever see it, but now on digital art platforms where they can display their art to anyone in the world, and finally, make a solid living from it.
NFT’s and the blockchain are very quickly changing the art space, and what is unfolding is very exciting, especially for artists from countries where their financial system is so heavily regulated by dictators and corrupt governments, that they never get fair pay for fair work in the traditional fiat currency system.
NFT art marketplaces allow artists to add their artwork to the blockchain for little cost, and cryptocurrencies (how an artist gets paid from their NFT’s) allow them to participate now in an equitable way, alongside their peers from free economy countries.
So yes, your participation in this project is more than just buying an NFT package from us. It helps educate everyday folk about the existence of NFT’s and also directly helps our resident artist Santi, make a living in the corrupt financial world of Argentina where he lives with his family.
Celebrities & Influencers Creating NFT’s
NFT’s are now big business and their growth hasn’t missed the attention of celebrities and influencers.
Notable celebrities who’ve released NFTs include:
- Snoop Dogg and his “A Journey With The Dogg” collection.
- Lindsay Lohan has released a few NFTs including one of her songs ‘Lullaby’.
- Artist Damien Hirst announced ‘The Currency Project’ which consists of 1000s of NFTs for planned future paintings.
- NFL star Rob Gronkowski has sold a card collection of NFTs to honor his career.
- UFC fighter Francis Ngannou made more from NFTs following his fight against Stipe Miocic than he did for winning the actual fight!
- DJ Aphex Twin sold an NFT he calls “afx/weirdcore/blockscanner” for $128,000.
- Singer and Elon Musk’s girlfriend, Grimes, sold a collection of NFTs for a total of $6 million.
- Even Soulja Boy has participated in the boom by releasing a collection of 20 NFTs called “Crank That”.
Why Would You Want to Buy an NFT?
People buy NFT Art for all sorts of reasons, just as they would for any piece of physical art.
2. They like the piece
3. They like the Artist and want to support them
5. They want to show off their art collection
In this instance, you might be excited to own an NFT because:
The value of your NFT will go up over time, explained more in the section below.
2. You Love to support those with similar values to yours
Maybe you want to support Influencers that share the same values as you and make a stand for what they believe in. These NFT’s are your chance to show that support by owning a piece of digital art that portrays an important message that you both have a common interest in.
3. You just really like the Artwork
We really trust the artwork we offer you here is awesome, so you might just really like the piece and want to own one.
Yes, the Fear of Missing Out is high because our NFT packages are in strictly limited supply. And once they are gone, we physically cannot create any more, so they are really gone!
5. Show Off!
Maybe you might want to show off that you scored a very limited NFT when someone else missed out … basically giving someone else FOMO! Don’t worry, we get it!
6. Be one of the first in the world to own an NFT
Yes, they are that new!
7. All of the above!
How Many NFT Bundles Do We Release?
NFT itself means non-fungible, that is, one-of-a-kind that cannot be duplicated.
However, for the first time ever, we can create original artwork in multiple copies using the blockchain. Each piece having its own authenticity token.
Something that has never been done before in the physical art world.
Like any artwork, your NFT’s true value comes from a limited supply and greater demand.
That’s why we create a very limited and exclusive supply of NFT’s for each design, so there is a greater chance that the value of your NFT will go up over time.
The number of bundles released is determined purely by how many NFT’s we mint of that design. Once the NFT’s are minted, that is it. No more will be created of that design.
Will the Value of My NFT Go Up, and How?
The value of your NFT could go up over time, just like real art does.
This happens in a few ways:
1. As the value of the crypto market rises so does the artwork, as the art is valued in Ethereum cryptocurrency.
2. NFT’s are increasing exponentially in their reach and demand, thus pushing up future prices. As NFT’s and the blockchain become mainstream for the masses, the demand for NFT’s will automatically push up prices.
3. As Santi, our artist becomes more popular for his work, the more valuable the NFT’s become, just as any physical piece of art benefits when the artist becomes more known and even famous.
That is why we encourage and incentivize our influencers to spread the word about Wearable NFT art, beyond their project. With their strong followings, we all know rising tides float all boats!
And as we work with more Influencers and Non-profits, this effect will multiply exponentially. Thus pushing up the value of all previously minted NFT’s, including yours!
4. And lastly, the art marketplace we use has a secondary re-seller market. This alone pushes up the value of the NFT. On the secondary market, you can sell your NFT for cryptocurrency.
* And don’t forget, we always ensure the value of the NFT package you buy is already greater than the price you pay for it, on the day of purchase. So you’re already in front before you even start! #scored
How Do We Pass Ownership of the NFT Over to You?
It is a very simple process actually.
When you order the Bundle of the NFT and Merchandise, your Merch will be automatically created and sent separately from the US.
For the NFT, we simply need your crypto wallet address so we can transfer ownership to you. (Please note, this does not allow us to access into any of your crypto holdings – only to transfer into your wallet).
If you do NOT have a crypto wallet we ask you to set up a Metamask wallet. It is free, accepts NFT’s easily, and you can also see your NFT assets with one click on the mobile version.
If you already have a crypto wallet, we will need you to check if it can hold NFT’s (not all wallets have that function). If not, we encourage you to get a Metamask wallet also.
All the details for setting up Metamask and everything you need is in the welcome email when you purchase your bundle.
And that’s it! Simple!
How Do You View Your NFT?
Your NFT will always sit inside your Metamask (or equivalent) crypto wallet and is available any time you wish to view it –
as seen to the right here.
Some people also love to display their NFT’s inside an electronic photo frame. There are ones built specifically for NFTs these days and can be purchased quite inexpensively on Amazon.
Don’t forget the whole world of NFT’s is very ground floor right now. Technology for displaying your NFT is only new and being developed at an extremely rapid rate. More and more options are opening up every month for showing off your NFT! So start your own NFT collection, and watch this space!
The Future of NFT’s
NFT’s are not going away! Period.
The increasing amount of applications that the blockchain and NFT’s are now opening up for medical services, governments, corporations, and even the financial markets, have now, even in this early stage of adoption, already secured NFT’s and the blockchain as the way of the future.
Soon nearly everything will be hosted on the blockchain rather than local computers where things can be copied, replicated, ripped off, hacked, and where security is a constant issue. The blockchain simply does not have the issues that our current solutions have.
Not to mention the day when we probably won’t even have fiat currencies anymore … all of it will be cryptocurrency. And that day seems to be coming sooner than we think!
We hope this has given you a confident introduction to NFT’s, and more importantly the excitement to become a part of this incredible movement that is literally changing the world, in a good way!
At the end of the day, we are here to assist if you have any questions, so please reach out HERE.
Jonathan & Nat
FOUNDERS OF WEARABLE NFT ART™