It’s no secret that the world of fine art and collectibles has been massively disrupted by technologies stemming from the innovation of Bitcoin.
Non-fungible tokens, colloquially known as “NFTs,” are a relatively new technology that has taken the art world by storm, generating millions of dollars in sales across platforms like Nifty Gateway, Async, SuperRare, MakersPlace, KnownOrigin, Rarible; the list grows. Projects like NBA Top Shot and CryptoPunks are leveraging this technology to create digitally-scarce art and collectibles worth thousands of U.S. dollars apiece!
There have been large sums of value discovered in the realm of digital art and collectibles in the past few months alone. Advancement is rapid in this nascent space, and I imagine we haven’t seen the top yet, but where will it all “end up”?
The First NFTs Were Right Here On Bitcoin (And They're Coming Back)
Maybe we should look at where it all started. That’s right, the one blockchain to rule them all: Bitcoin. NFTs started in 2015 on BTC with counterparty token (XCP) and rare pepes. While today we are seeing a thriving ETH-based NFT space, many Bitcoiners and Bitcoin artists are ready for a BTC NFT resurrection.
I personally see the value in NFTs for their immutability, uniqueness, scarceness and permanence. You don’t need to do anything to keep up the condition of a digital art piece the same way you would with a painting or print. But if the value of an NFT is directly tied to its permanent residence on a perpetually-secure blockchain, then there’s a clear case to be made for why BTC is the best chain for hashing digital art and tokenized collectibles. Whatever additional layers of protocol it takes to make the perfect platform and marketplace, it’s clearly the BTC chain that you want the data pegged to.
And that’s possible now! Today, you can make Bitcoin NFTs using various methods, including Counterparty via Freeport.io, which is a browser-based wallet that allows you to mint NFTs on BTC and even view the BTC NFTs in-browser.
Other methods are being worked on today as well, with the goal of competing with the Ethereum NFT marketplace soon.
So, when will this shift occur? Will ETH always be better for this the same way BTC will always be better hard money? It is possible, but I won’t digress further into this topic today.
A Call To All Artists
Ultimately, I’m writing this as a call to action. To any artist, established, aspiring or otherwise: If you have an interest in Bitcoin, and want to create art about Bitcoin, Bitcoin Magazine wants to see it and help you share it!
If you submit your artwork to the Bitcoin Magazine contributors portal (art.bitcoinmagazine.com) your work may be selected and featured on bitcoinmagazine.com in an upcoming article.
This initiative by Bitcoin Magazine has one goal in mind: bringing Bitcoin art to the masses.
Do I Qualify To Submit?
If you are a “bitcoin artist” or an artist that makes art relating to Bitcoin, even in abstract ways, you qualify! The image of your art probably belongs on Bitcoin Magazine where it will be syndicated across the web and seen by the most Bitcoiners possible.
If you’re an artist that can’t get his/her/their NFT sales off the ground, and your artwork relates to bitcoin, you qualify! What better way to get your artwork and name out in front of people who’d be most likely to appreciate it.
If you are just a regular person who made a one-hit-wonder meme or artwork in ode to Bitcoin, you qualify too!
But there will be a curation process and not any old sketch with a Bitcoin logo will make it through. Please don’t feel discouraged if a submission isn’t selected. Bitcoin is for everybody and so is making art!
With this new initiative, Bitcoin Magazine is attempting to decentralize the art contributions on the Bitcoin Magazine website, the same way written contributions come from across the Bitcoin community. This initiative will give artists extra opportunity to gain exposure to our audience, and give our audience exposure to the many great artists in this space, whether they be up and coming or well established.
So, make your way over to the brand new Bitcoin Magazine ✨Art Portal✨ where we will be fielding visual content submissions the same way we accept written contributions from the community.