Using NFTs to monetize digital artwork is a powerful new way to generate revenue for creators. NFTs are social media tools that solve a common problem-“secondary sales.” Artists and content creators can now monetize their audience in traditional ways. For example, artists such as Beeple and 3LAU are developing new business models to help NFT owners generate income from their content. Moreover, musicians like Kings of Leon have monetized their fans through traditional methods. Entrepreneurs such as Tom Bilyeu, host of the popular Impact Theory podcast, are developing new ways to benefit from NFTs. NFTs Are A New Way To Monetize Digital Artworks The newest trend in monetization is NFTs or networked tokens. It allows artists to sell their digital artworks directly from their creators. This makes it easy to distribute and store them without needing a physical asset. Hence, making NFTs a great way to promote art. The concept behind NFTs is that the art assets traded on the NFT network are verified using blockchain technology. This records transactions and provides proof of ownership to buyers. The digital art world is experiencing a booming market for digital assets. NFTs enable artists, influencers, and sports franchises to monetize these products easily. The technology has met the art world’s authentication needs by permanently linking a digital file to its creator. NFTs Are A Social Media Tool If you’re not using social media fo...
