Are you an artist? Create even better experiences and sell even more with Mateico solutions
Most people, including artists at the forefront, are aware that the life of an artist is not a path full of roses. Of course, when looking at the biggest stars, we can see that they are immersed in luxury, but we must remember that Hollywood celebrities are just the tip of the iceberg in this professional group. And in every field, there will be those who earn an incomparable amount compared to the rest of the people.
This happens for a few different reasons. Primo, many people think that owning art requires a lot of money. Secundo, artistic fulfillment is slightly higher in Maslow’s pyramid, and therefore not everyone feels the need to own works of art. And thirdly, the purchase of a painting has so far been associated with the necessity of a trip to an art gallery or at an auction, which can be both a logistical problem, if someone does not live in a larger city, and a problem of demand – art at auctions sells out quickly or reaches horrendous prices.
But is the art market of 2022 still the same? Does a modern artist have more ways to monetize their works? Does the creation of an NFT mean that creators who decide to go digital are able to earn more? At Mateico, we show how you can improve and enrich the sales process.
How have artists made money via the Internet so far?
Until recently, artists were able to make money online in several ways – creating bespoke artwork, selling their physical images on social networking sites, and becoming artistic influencers. In fact, the technical possibilities offered by the Internet to artists were limited to greater exposure of their physical works, which allowed them to reach more potential customers, or possibly win more orders.
For example, while the music industry is able to prosper very well because we pay attention to the number of plays there, which we can easily track, the “image” on the Internet could be copied very easily.
What has changed and how to use it to your advantage?
Everything has changed with the emergence of the NFT technology, which gave virtual art superpowers. We are talking here about, for example, uniqueness and rarity. Until now, an image on the web was just a web image that we could copy through trivial copy-paste.
NFT integrates blockchain technology, thanks to which we are able to assign a given work to its author, i.e. clearly identify it. Everything is fully transparent, which effectively breaks down many barriers – we do not have to worry about buying an image from an unknown source, which will then turn out to be a copy (we can also be deceived on the Internet, but only by our inattention).
‘Sky’s the limit’ – how much can you earn (in real terms) by selling art online?
Probably the most interesting aspect of this issue for many of us will be money. Since artists exhibiting their works on the blockchain are able to monetize them, how much can you actually earn on it?
The first aspect that needs to be mentioned is the currency in which we will receive the payment. It is very rare that we receive them in fiat currency, i.e. commonly known as dollars. In most cases, we need to get paid in one of the cryptocurrencies, e.g. Ethereum. However, this is not a problem, because if we use one of the most popular cryptocurrencies, converting to fiat currency is child’s play. Just use a cryptocurrency exchange like Binance or Coinbase (which are regulated and can be confidently assumed to be as safe as banks), sell your cryptocurrency, and wait for a transfer. Yes, it’s that simple.
Now that we know what we will get paid for, let’s try to estimate how much you can earn by selling such paintings. Certainly, it should be noted that not every artist who puts his painting up for sale in the NFT form will earn the same amount of money. Well, it may happen that an artist who is very good at physical sales will not earn a single penny here. We must remember that, just like traditionally, in the NFT area you also need to build your brand. Often anew, because it is a transfer to a completely different world and completely different recipients. In the blockchain world, our recipients are very often not well-off art connoisseurs with a glass of cognac stuck to their hands, but people fascinated by technology. So we have to create the right content for this target group. You have to be ready for the fact that you will have to change your style – the fact that the “still life” art popularized among younger audiences by one of the most iconic computer games (probably everyone knows that it is about The Sims) sells great at painting exhibitions, does not mean that there will be any demand for it in the NFT sphere. Looking at the collections that are the most successful in the virtual world, we can see that trends are anything that is creative and very difficult to obtain in real life, such as machine-generated monkeys or a film depicting an angel of extermination. In a word – futuristic.
Assuming the above factors are met, the earning potential is virtually limitless. In real terms, the collections of 10,000 items are currently the most popular. generated NFT. Of course, we do not paint everyone by hand, but we “break” the image into layers and the previously prepared program mixes them together, creating unique graphics. Usually, one such painting is sold for a price of about 0.1 ETH, which in today’s exchange rate is about $200. We do not have to sell all 10,000 – if we are already quite recognizable and we sell even 100 units, we still have a profit of $20,000.
The most famous collection of 10,000. generated “Bored Monkeys”
If you are more concerned with creating unique works of art than entire collections, you will also find your audience here. Of course, we don’t have the effect of scale, but single, high-quality works of art can easily be sold for 0.5-1 ETH, which is around $ 2,000.
How do we want to help the creators in Mateico?
Many people are afraid of entering the technological world, thinking that it is complicated and difficult. It is, but for developers who create this type of software. NFT technology is already beginning to mature and there are many solutions on the market that allow us to create our NFT with just a few clicks.
Mateico is one of them.
We focus on a few things – first of all, we will provide you with an NFT market, where you will be able to create your NFTs quickly and efficiently and at the same time – sell them quickly and efficiently. Then we will focus on the display of your works – exhibitions of physical works of art in combination with augmented reality will allow you to impress your audience even more and thus sell your paintings for an even higher price.
However, our most important mission is to help artists spend more time on what they love, i.e. the creation process. Many of us are also artists and we are aware that the creative process is a full-time job, if not 24/7. By implementing all of the above solutions, we want to improve the art sales process, thus minimizing organizational tasks.
#StayTuned, we’re just getting started.