What is an NFT?
A NFT (non-fungible token) is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, and use blockchain technology to establish a verified and public proof of ownership.
What is the benefit of an NFT?
When selling any kind of art work in the ‘real world’ for instance, a print, the artist sacrifices any kind of later ownership of the goods once a sale has been made. Whilst you can authenticate a print with a certificate or proof of purchase, any future profits generated by the art are not directly tied to the original artist.
With NFTs, this ownership remains on the blockchain forever, therefore the artist and the collector know exactly who owns the original art work thus ensuring the value of said art remains with those who are invested in it.
Any future sales of valuable art as an NFT also benefits both the collector (through authentication) but also the artist who gains royalties on their original piece, something of a game changer in comparison to the traditional art world.
What is Foundation?
Foundation is a platform for hosting exclusive art work as NFTs through an invite only system therefore ensuring the artwork hosted on the platform is of top quality. Foundation only accepts (at present) 1/1 works.
What is Opensea?
Opensea is the worlds largest NFT platform hosting several kinds of artwork and is more used to display collections of art as opposed to 1/1 works. Opensea however does cross integrate any work shown on Foundation.
How can we view your work?
Daryl’s work can be seen on Foundation and will soon be available on Opensea once the ‘Homecoming’ collection is launched.
How do you purchase an NFT?
Tp purchase an NFT you will first need some crypto currency, the NFT world at present mostly operates on the Ethereum blockchain. You will need to convert your own currency into ‘ETH’ and then transfer into a Crypto Wallet where by transactions on the blockchain are tracked. Your Crypto Wallet stores all of your ETH (or other crypto currency), your transactions and is also your personal, address / identity for your artwork whether sold or collected.