How Artists Sell Digital Art for Thousands of Dollars

Last January 18, "Rick and Morty" creator Justin Rolland sold digital art on the online auction platform Nifty Gateway . His collection earned him over a million dollars. Selling digital art for gobs of money has been a huge challenge for many artists. However, there appears to be a new hope. At least, for the more tech-savvy. Digital art, by nature, can be duplicated. And by conventional art appraisal standards, this nature has prevented digital art from standing shoulder-to-shoulder with traditional art when it comes to value. Among many factors, the price of traditional art is dependent on its scarcity. So how can a piece of bits and bytes command a high price when anyone who has access to the file can just hit copy-paste? Yesterday, I stumbled upon an online discussion on non-fungible tokens (NFTs), which is based on blockchain technology. An NFT is, essentially, a digital asset that cannot be duplicated or converted. What this basically means is, when someone buys your