Success in Crypto Art

Asyncart, MakersPlace, Rarible, SuperRare, KnownOrigin, NiftyGateway…

Introduction

First of all… read through the whole article or skip to the next subtitle and spend your time taking in this information because this is not a walkthrough to 100% sell your art or make money as a collector in this scene.
If you have no idea what Crypto Art is, check out both of these articles! ~
“What is an NFT & How do I make money from selling my art as a NFT?”
“The Crypto Art World ?”

Selling Art

So there are a lot of factors that I see significant when buying art and selling my art to collectors & I’ll explain some top points now.

Abundance VS Scarcity

Abundance VS Scarcity.. so this is an argued topic talking about the time variation of tokenization on the blockchain.

Attracting Collectors

Attracting collectors is supposedly the way to get guaranteed sales right?
.. but how do YOU attract collectors? Well, while I’ve been in this space for the past months, I’ve noticed artists go from bottom to top ( sales-wise ) ; there has mostly been a similar trend which is the price of your work compared to your social reach.
A lot of new artists won’t have social reach, but the opposite happens too, if you don’t have enough social reach — you can’t expect to sell a $2,500 piece straight away so you are going to have to start selling small until you gain the attention of collectors who may pick up a few of your ‘multiple’ or ‘1/1’ pieces & you can go up from here.
Sometimes you don’t have to do ANYTHING, because collectors will attract other collectors especially due to how transparent these platforms are. As a collector, I sometimes look at the top collectors & see the art they purchase typically being *new* and *fresh* talent. Which causes me to research and typically purchase a piece.. BOOM!

Buying Art

Now for making money on the second side of things, the collector.
The one who funds these artists but makes more money on the side?
Well, there is 3 main reasons a collector would buy art —
1. Flipping for more gain (Short-Term)
2. Flipping (Long-Term)
3. Loving the art (!!!)
My personal experience with flipping art has been big success and big failure, its like investing into a coin that you think will moon.. if you have no knowledge of the Crypto Art space.
I think its easy to spot what you are looking for if you plan to flip ( whether it be short term or long term ) and this is based on many things an artist has.
- Other collectors’ interest
- Secondary Market Activity
- Social Growth (?)
So this is specifically for flipping artworks, other collectors’ interest in an artists work you are eyeing up is key as it shows stats for you to analyse how much value the work is going to hold.
Secondary market activity is important to see more stats of how that specific artist’ work resells and how long it takes for that resale. E.G — (If I sold a work for 1 ETH this month & it sells for 5 ETH at the end of this month)
Social Growth is something I still look at to but specifically (crypto-art) followers & platforms. E.G — (SuperRare promoting a new artist who hasn’t got that much social clout)

1st Collector

Being a 1st collector is something I personally named in my head and I hope it gets used in the future as the concept of it is widely shown for some of the biggest collectors in the scene.
What I would call the 1st collector is investing into a singular artist straight from their genesis piece (most of the time) or buying their current ones from sale and all their new ones. Rather then investing in a singular piece varied through a lot of artists, you and the artist are growing together, I typically look at artists who follow certain fundamentals of what I look for in terms of *creating* value and then invest into them.
Take the leap and find the artist that you have hope in and become the 1st collector and it will pay of in the long term.

Success & Elegance

Now, some may talk about Crypto Art ruining the elegance of Art due to how money is in control & the ‘rich get richer’, so I asked one of the most infamous people in Crypto Art & the design world — Pak — the creator of Archillect.

  • “Not at all! Secondary market is a beautiful thing. It, too, is a part of the work. It can be used to extend the work and its audience. The only downfall I feel here is a certain type of collector that exploits the creator and the secondary market by trying to buy cheap sell expensive in the shortest term. A good solution could be increased royalty percentage based on sale date proximity — a secondary market sale that happens on the same day with the creator sale would give the creator 100% royalty, but, if the same sale happens in a year would give 10% (minimum) royalty.”
  • “I believe the answer to this question depends on the point of view. Who is an artist? A person that creates, or sells? Then again who is a collector? A person that constantly collects more, or a person that keeps what they have? In the end this is a balance with four parts, the creators, the collectors, the audience and the scenes/platforms — and I believe what’s really important is the balance of all.”

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Loop

Loop

I build projects, write articles & make art.