What is crypto art?
Short answer, crypto art is digital art that is treated like physical art due to the ability to have verified ownership of the piece. Just like an original painting signed by Picasso can have its authenticity and ownership authenticated, crypto art can be verified in the same way using an NFT or a non-fungible token. An NFT is a special token that represents a unique ID that is linked to a piece of crypto art that cannot be replicated and is used to verify ownership of a piece. You can attach it to anything: a JPEG, GIF, MP4, even music. This token that proves ownership of the ‘original’ file is stored on the Blockchain which is a permanent ledger that can be accessed from any computer over the world.
“No other industry was affected by piracy like music was in the early 2000s,” Guerrero said, explaining that royalty payments suffered as streaming and torrent services gained popularity. “Musicians are already fighting for royalties of […]