NFTs have enabled artists to connect with their audience and form a community around their art.
Here is how it works:
- People purchase digital art via NFTs from an artist on the blockchain. There are many platforms, of which OpenSea is the best known.
- Attached to the NFT, the artist can add
- the license agreement,
- benefits as defined by the artist.
These benefits could be anything.
Here are some examples:
- VIP access to the artist,
- forming a community around a specific cause,
- a ticket to an exhibition, etc.
All these benefits could be sold with the digital art at different price points.
And, if someone on-sells the NFT, the license agreement and benefits are also included. In addition, the artist receives a royalty percentage from each sale.
Grace. T Masilo and her twin sister have ventured into the Web3 world of NFTs, opening up opportunities internationally.
Check out their story on LinkedIn here.