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Hey Molly,

Fun question!  I suggest everyone interested listen to one of my favorite illustration podcasts, Three point perspective, chat on this topic. Here's the link:  https://www.svslearn.com/3pointperspectiveblog/3pp78

Very interesting to hear their take.  One of them did a free NFT after the cast, and it has yet to sell I think.  

Basically their conclusion was, if you're an artist who is selling in a market already (probably especially gallery artists, or the type of artists you find on artstation (video game designers, concept artists with name recognition) this might be a good move.  Another thing to consider about these NFTs is the energy that goes into creating the block chain.  

I looked into this a bit last year out of curiosity, and though I was tempted to try and make one myself didn't.  You can do it for free some places I think, but then that host takes a cut of the sale if it sells.  Otherwise you pay the cost of mining I think?  But, the neat idea here is that then every sale of the NFT gives you a kickback, which would be a nice thing for creators everywhere if that were the norm.  Perpetual royalties!

Anyway, lots to consider.  Would be interested to hear anyone who has tried this out with positive, negative, or neutral results.  I am morbidly curious about this new art market!

Best,
Mesa

On Wed, Jul 21, 2021 at 10:23 PM Molly4130 <[log in to unmask]> wrote:
Non-NU Email
Hi All,  

I've been meaning to post asking if any of you have ventured into the world of NFTs (non fungible tokens)? 

I won't post links but there are primers on different creative blogs (ie dribbble/"what the heck is an NFT"). It got press (and my attention) a few months back with the Beeple $69M Christie's auction. Simply stated the artist creates scarcity by digitally "minting" an asset that marks it as the unique "original."

I know next to nothing about cryptocurrency and this seems to be a low-risk way to learn. One detail that I found compelling (if I understand correctly) is that the minting process bakes in some residual rights for the creator, who receives compensation whenever the NFT is sold from one party to another in the future.

I still don't fully understand how this will unfold as a sustainable market, but a couple of my contacts seem to be doing well with it for now. 

Thanks as always for your help and always-interesting perspectives. I found this group years ago while considering schooling for scientific illustration--while I did not go that route this remains my favorite design-community discussion group--in fact it has remained relevant through every phase of my freelance design life. I've learned lots from you all. Thanks again  and all the best! Molly

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Mesa Schumacher, MA, CMI
650-353-1018


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