The popularity of Non-Fungible Tokens (NFTs) has surged in Australia, and traditional and digital artists are embracing the movement.
Australia’s First NFT Gallery
Hobart’s Museum of Art & Philosophy (MAP) has launched Australia’s first NFT gallery in the Tasmanian capital, where digital and traditional artists from all around the world will display their creations later this month.
The first exhibition is scheduled for the week of June 16-22, coinciding with Hobart’s annual Dark Mofo festival, and it will showcase the work of artists featured in the magazines New Philosopher and Womankind. Antonia Case, curator of MAP and editor of Womankind, says NFTs can bridge the gap between traditional and digital artists.
NFTs enable digital artists to compete in the art world alongside fine artists in more traditional media.”
Antonia Case, MAP curator
Artists Making a Living out of NFTs
Case outlined the advantages of tokenising digital content and promoting it on decentralised marketplaces. For instance, NFTs have a certificate on its property — it can’t be destroyed, deleted or replicated. Besides, artists can make better revenues through royalties.
“In the past, digital artists whose work was emailed to publishers via JPEG, GIF, or TIF struggled to show ownership as digital files could be reproduced at will. If a JPEG of a digital work goes online, anyone can download it, which puts digital artists at a disadvantage compared to artists whose work is tangible, such as paintings on canvas, or sculpture.”
Antonia Case
NFTs are giving artists the opportunity to make a living with their work in a more free and decentralised way. An example is Lushxus, a Melbourne street artist famous for his controversial and unique paintings on walls across the city. As reported, Lushxus has earned over $500,000 by auctioning his work on marketplaces like Rarible.
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