March 10th, 2022 Salt Lake City, UT – What’s the first thing that comes to mind when you think of someone pursuing art as a profession? Odds are, a mental image of the stereotypical starving artist has already popped up in your head.
Traditional finance is about efficiency and ROI and streamlining processes. It’s a ruthless world that’s anything but inviting to those who want to chase a career in the finer pursuits of life.
With that bleak overview out of the way, let’s talk about the good news.
NFTs, short for non-fungible tokens, could be the savior we need to spark an unstoppable transition where artists can thrive. Let’s see how.
Due to the transparent and impartial nature of these digital ownership records, artists can easily partner with developers and business-savvy entrepreneurs without worrying about getting the raw end of the deal. The open nature of blockchain automatically puts the underlying dealings front and center, accessible and readable by anyone.
While that may not seem like a big deal, it can make a world of difference when it comes to fair compensation for the artists. That’s because not only can the artists see where the proceeds from the sales of their work are going, but the community can also uncover any unsavory practices.
What makes NFTs truly revolutionary for artists, however, is how much easier they are to monetize with.
In the world of traditional finance, only artists in the top 0.1% get to monetize their talent in a meaningful way. The rest of the creatives are left to fend for themselves. Most find themselves on social media, where they must cater to the ever-changing desires of the algorithms and attract legions of fans—all for a chance at making less than minimum wage in most cases.
For instance, the artist Torren who goes by the name of Zane Customs on YouTube has diligently uploaded…