How Blockchain Is Reshaping The World of Artists

The need for blockchain for artists:

The need for new technology was realized by the artists when duplicity and piracy came to existence. When something is copied and replicated for free, the value of the art piece drops significantly and the vision of a market fades. Most collectors feel that for art to have value, it needs to have measurable and provable scarcity. It is then when the art form gets its desirable response.

One of the most important reasons for artists to adopt blockchain in the art field is the transparency that the blockchain offers. Blockchain also helps to track the ownership and provenance of the art created by artists. This way many artists found that their art attained privacy and it became easy for them to reach people with their art. Let us try to elaborate on the blockchain and its relation to art in detail.

Market becomes safer

The concept of blockchain began with bitcoins- the cryptocurrency. So blockchain is just the digital information stored in public ledger. Since security has been considerable concern with the data analysis, blockchain development services assured that every transaction on a blockchain is secured, which happens with a digital signature that proves its legitimacy. As a result of the use of encryption and digital signatures for security, the data stored on the blockchain is tamper-proof, which remains unchanged. Artists are very concerned about their art to be leaked, once their art piece is leaked and recreated the value decreases. So with the help of blockchain artists can have a safe market where their data will be safe.

Digital art has become a thing because of blockchain

Over the last five years, digital artists have been at the lead of blockchain innovation. They are also using it to tokenize or authenticate easily reproducible works. Some artists have been using blockchain as a medium itself. Before 2018, projects like CryptoPunks had inspired the CryptoArt movement, challenging perceptions of digital art by creating works specifically for trade through cryptocurrencies. It was just an experiment back then but eventually, these projects became very popular and got featured in Christie’s Art+Tech Summit combined with similar digital marketplaces like SuperRare and Dada.nyc.

These platforms are some of the examples which provides a platform for digital art:

Pixura Platform (beta) – This platform allows anyone to issue and sell virtual items on the Ethereum blockchain, including art and rare digital collectibles

Freeport.io (pre-alpha) – It allows people to collect, create, and trade crypto good assets issued on Counterparty using the Bitcoin blockchain

Transparency:

The blockchain gives the artists platforms that are operated by them. There is no third party interference in any operation of the artist’s work. This specifically applies to the financial management of the artists. The third-party transaction is totally eliminated giving it a transparent look for their transaction as well as cutting the extra costs of the third part transaction. Artists can collect and analyze their own data with the help of data management and analysis of the blockchain. If the customer is buying an art form, he gets all the detailed information about the art piece with the help of Blockchain. This information includes everything from the name of the artists to the story behind the art. This is important, in the times where customers care more and more not just about the quality of what they are buying, but of the integrity of the company and processes creating them.

Tracking ownership:

Blockchain is the best-known technology for its data management and data collection. For artists, blockchain can help you to register your art form so that piracy won’t be an issue in the market. Sometimes an artist who is not that popular creates an art piece but the famous artist copies and sells it in his own name. In such a situation the one who is already popular gets the fame and money and the originality disappears.

So with the help of blockchain, the life of an artist becomes easy in many ways where blockchain makes it safer for the art to be published as well as the money transactions become cheaper.

Author Bio:

Name: Paras Kale

Blockchain enthusiast. Expertise in the area of Blockchain and web technologies. Experience in Smart Contract, DApps, Smart Contract Audits, and Web Applications Development. Owning a Software development company RWaltz Sofrware Group Inc.