Where can I buy NFT works?
Alexandre Czetwertynski: “There are different sales platforms, or marketplaces, that act as intermediaries between artists and collectors. Examples include Open Sea or Feral File. But one can also find NFT’s works in the galleries that are on Metaverse or on the sites of the artists themselves. Sometimes there are creative sales methods, such as handing over a piece of paper with a code and then giving you access to NFT.
Does the NFT market follow the same rules as the traditional art market?
“The link is usually more direct between the artist and the collector. There are also many communities. People who are part of an artist’s community, for example, will have priority access to new NFTs that are created. of this artist. What changes is that the artist does more than himself: he creates the work, he sets its price and he promotes the work. These last two stages of the traditional market are managed in the gallery. But currently, there are no galleries that specialize in NFTs. On the other hand, there are curators who select NFTs to show them in exhibitions whose works are also sold.
Currently, there are no galleries specializing in NFTs.
Are there specific risks associated with owning NFT works?
“These are the same risks as other cryptocurrencies. You need to know how to manage your portfolio.
Can NFT work be insured?
“Not yet, but insurance companies are working on this issue. What can be insured is its Ledger, which is a kind of USB key that acts as a physical wallet for its cryptocurrencies.
What is the profile of an NFT collector?
“These are generally people who are in these virtual environments every day and are already familiar with cryptocurrencies. But it can also be a completely different person who is simply curious about this art. There are probably younger -on collectors. We are talking about people under 20 years old. Because the advantage of NFT is also that you can be a collector with a more modest budget than contemporary art for example. After all, among those collector, the profiles are very different: there are people who only buy Tezos, or only other generative art … There are speculative collectors and others who don’t just buy on impulse…
What are the benefits for artists who make these NFT works?
“The link to collectors is more direct. They also get royalties more easily on the secondary market.
Are traditional museums interested in NFTs?
“Yes, there are examples. The Uffizi Gallery for example has already sold an NFT version of a painting by Michelangelo. This digital copy, authentic, tamper-proof and encrypted, allows more income for the museum that lost a lot of money in the pandemic. The Vasarely Foundation does the same and uses the money to restore works of art. This is a new form of sponsorship in this specific case. In addition, Moma started collecting NFTs, and the Luma Foundation of Arles and Art Basel joined forces to create a blockchain specialized in the art world, Arcual.