As non-fungible forms of art rise in popularity, Dallas artists are riding the wave. Next month, Landmark Center will host an NFT pop-up gallery for two weekends.
Trying to understand cryptocurrency and non-fungible tokens (NFTs) can be annoying AF, but the amount of cash being made and spent in the crypto space can’t be ignored. Artists and musicians have been independently making millions of dollars by selling digital versions of their art, music, video clips, photos and pretty much any other kind of digital media they can think to throw up on the blockchain.
In February, DJ and music producer 3LAU made $11.6 million selling music NFTs in only 24 hours. Just a few days later, Canadian musician Grimes made $5.8 million in 20 minutes. DJ Steve Aoki made $4.2 million in the first week of March, while Post Malone auctioned off an NFT to play beer bong against him. Those types of paydays might ve normally taken the artists years to collect, but NFTs have created a new model for artists to reach consumers by avoiding middlemen in distribution.
Like the internet in the 1990s or social media in the early 2000s, NFTs will go down in history as one of the most significant things to happen in modern technology and culture at large. Big statement I know so let me tell you why I’m so excited.
One of the biggest current trends in the world of digital and decentralized assets is the NFT, or non-fungible token. In the past month, Grimes sold nearly $6 million of NFTs and Kings of Leon has pledged to come out with the first ever full rock album as an NFT. So…what the heck is an NFT?