- Digital art became synonymous with NFTs.
- NFTs became the establishing financial value of Digital Art.
- French Artist Philippe Pasqua to release his third NFT collection.
Non-Fungible Tokens NFTs, which are comparable to deeds, is a combination of computer files, proof of ownership, and legality. They are recorded on a blockchain, which is a tamper-proof digital public record, similar to cryptocurrencies like Bitcoin.
Like dollars, cryptocurrencies are “fungible,” meaning that one bitcoin is always worth the same as another bitcoin. Meanwhile, NFTs have unique values set by the highest bidder, similar to Rembrandt or Picasso.
Digital art quickly became synonymous with NFTs. With that level of comfort, many digital artists have rushed in wholeheartedly, fueled by years of generating work that drives traffic and interaction on Big Tech platforms like Facebook (NASDAQ:FB) and Instagram while earning nothing in return.
These artists of all kinds—authors, singers, and filmmakers—see a future in which NFTs alter both their creative process and how the public views art now that it’s possible to really “own” and sell digital art for the first time.
Because of its accessibility, digital art has long been underestimated. NFTs provide the crucial element of scarcity to assist artists in establishing a financial value for their work. If they know the original version exists, some collectors are more likely to seek the “authentic” thing.
Scarcity is one of the reasons why baseball card collectors are ready to spend $3.12 million for a piece of cardboard with a picture of Honus Wagner, a renowned Pittsburgh Pirate. It’s also why sneakerheads swoon over Nike (NYSE:NKE) and Adidas’ latest limited-edition releases and why “pharma bro” Martin Shkreli paid $2 million for the only copy of Wu-Tang Clan’s Once Upon a Time in Shaolin in 2015.
Therefore, coming from a traditional art background, the perfect example of that is the debut of Philippe Pasqua. A well-known French artist, who, after releasing two NFT collections, is planning a third one. “Papillon” and “Vanity” were the first two collections that were both minted in under 10 minutes.
This makes the third collection: WEN, bigger and better! The date chosen for the launch- 2-22-22, has a special connotation that will be revealed to the admirers of traditional and digital art. Thus, making it a not-so-random date.
One of the most eye-catching features of this launch is that if you own a WEN NFT, you can opt to win a Lamborghini that was tattooed by the same artist a few years ago, sold, then repurchased. And is now worth more than half a million dollars.
The Philippe Pasqua NFTs will also provide you with access to a digital metaverse that the artist is creating- with the primary goal of bringing traditional art even closer to the digital world. You can learn more about WEN by joining the Discord channel, which is the right place for Philipe’s admirers, NFTs, and artists to further admire his work of art and stay updated with all the latest developments.