NFTs

R

Rincewind

Messages
310
Name
Mark
Edit My Images
No
Is anyone on here creating NFTs from their digital images and selling them ? If so is it worth the time and effort to get it all set up and into a marketplace ?
 
I was asked to do it. However the person that asked wasn't looking to buy one of my photos. :( so I didn't go through with it.
 
shootnbreeze said:
I was asked to do it. However the person that asked wasn't looking to buy one of my photos. :( so I didn't go through with it.
Click to expand...
interesting, the whole idea is to allow someone to 'buy' one so someone asking you to create one but not want to buy one seems very odd. Definitely not worth the time and effort if not a sale as depending on the platform it may cost you to create it.
 
I think Banksy said all that needed to be said about NFT's when he sold that self-destructing artwork at Sotheby's. But at least the buyer had the shredded remains. I just can't see the point of an NFT to the buyer, but it's great for the seller.
 
lindsay said:
I think Banksy said all that needed to be said about NFT's when he sold that self-destructing artwork at Sotheby's. But at least the buyer had the shredded remains. I just can't see the point of an NFT to the buyer, but it's great for the seller.
Click to expand...
Not necessarily so great, seller has to pay "gas" fees, and then get her money out of the crypto system, which is increasingly hard. I think "first in best dressed" was definitely true here, some decent money made in the early days, at the expense of the planet of course!
 
ChrisR said:
Not necessarily so great, seller has to pay "gas" fees, and then get her money out of the crypto system, which is increasingly hard. I think "first in best dressed" was definitely true here, some decent money made in the early days, at the expense of the planet of course!
Click to expand...
there is one platform that allows creation without gas fees but it does it in slow time, so long as its not a rush you can save that part but agree - first in 'trendy' made money, now its a bit like shutterstock, with additional very un-green energy costs
 
Rincewind said:
there is one platform that allows creation without gas fees but it does it in slow time, so long as its not a rush you can save that part but agree - first in 'trendy' made money, now its a bit like shutterstock, with additional very un-green energy costs
Click to expand...

The un-green energy costs argument really doesn't hold water, not anymore.

In response to the general question, I have in the past (and still do I suppose) sold my images as NFT's, I think I've created upwards of 300 NFT's now, some as 1of1's, some as editions of varying amounts. The market and prices closely follow the fortunes of crypto and as such we are currently in a 'bear' market. Prices have come down significantly and even established artists in that world are struggling to make sales. The halcyon days of 2021 when people were snapping up images for $3K-20K or more are a somewhat distant memory. My best sale back then was about £5K (it was pretty much a one off, lol), but over the last 2 years I've made maybe in the region of £20K...have I cashed any of that out? Sadly not, I bought other NFT's with it...and therein lies the rub, it's somewhat addictive. Since crypto was invented we've been through a number of cycles, each bigger than the last, roughly every 3-4 years, so there is no reason to believe the same thing won't happen again in the next year or so, then you'll see prices and with it, interest, go up, as will sales. Now is a good time to look into it and drive a following, rather than try and jump on a bandwagon later which you'll never manage to get on by then. However, it is extremely time consuming and you have to somewhat sell your soul. Is there big money to be made? Yes. Is it worth the effort? Probably not.
 
gregww1 said:
The un-green energy costs argument really doesn't hold water, not anymore.

In response to the general question, I have in the past (and still do I suppose) sold my images as NFT's, I think I've created upwards of 300 NFT's now, some as 1of1's, some as editions of varying amounts. The market and prices closely follow the fortunes of crypto and as such we are currently in a 'bear' market. Prices have come down significantly and even established artists in that world are struggling to make sales. The halcyon days of 2021 when people were snapping up images for $3K-20K or more are a somewhat distant memory. My best sale back then was about £5K (it was pretty much a one off, lol), but over the last 2 years I've made maybe in the region of £20K...have I cashed any of that out? Sadly not, I bought other NFT's with it...and therein lies the rub, it's somewhat addictive. Since crypto was invented we've been through a number of cycles, each bigger than the last, roughly every 3-4 years, so there is no reason to believe the same thing won't happen again in the next year or so, then you'll see prices and with it, interest, go up, as will sales. Now is a good time to look into it and drive a following, rather than try and jump on a bandwagon later which you'll never manage to get on by then. However, it is extremely time consuming and you have to somewhat sell your soul. Is there big money to be made? Yes. Is it worth the effort? Probably not.
Click to expand...
Interesting Greg, thanks for taking the time to respond, I am well past the age where I give a rats arse about selling my images now, I kicked the thread off to see / get a better understanding of the market from people who may well be involved so thanks for the reply, I recently did a piece of work for a gallery, he had a Graffiti artist in who did his art directly onto the walls of the gallery, the owner asked me in to photograph them for the purpose of selling copies as it were - kinda hard to sell his walls! So I considered suggesting NFTs to him as a poss way to commercialise the art but I suspect that it would not really be worth his time to 'learn' the process and market them that way, may still suggest it to him but he has a set of tiff files he can creat canvas / prints from now so will leave it at that.
 
You must log in or register to reply here.
Back
Top