Exploring the future of crypto art: A closer look at the future of crypto art

For some, this is the first time they have found a community of artists, with artists in the crypto space coming from all over the world to constantly communicate and gather in virtual meeting spaces. This space is open to anyone willing to participate, learn, and try new things. While it's all exciting and profitable, it's not an easy thing to do.

Does crypto art have a future?

Crypto-art has a bright future. Millions of CryptoKitties NFTs have been issued and traded, and some virtual cats even sell for more than $100,000. Whether it is a pixel-style avatar or a cartoon cat, these virtual cats show a sense of painting and artistic qualities, and can be regarded as the prototype of NFT art.

When people are frantically buying, breeding, and trading virtual cats, it has drawn attention to the value of combining blockchain with art. To this end, crypto art exhibitors SuperRare and KnownOrigin were established in early 2018 to help artists authenticate and distribute their works on the chain. At the same time, non-fungible token trading platforms OpenSea, Cryptovoxels and SuperRare also emerged. Under the leadership of these trading platforms, the NFT market has developed rapidly.

The 2020 COVID-19 epidemic has had a serious impact on the real economy, causing many physical galleries and offline auctions to be suspended. However, this situation has greatly promoted the development of the NFT art market. People are beginning to turn their attention to choosing art online. From 2020 to 2021, NFT artworks have achieved great success. The volume of online auction transactions for NFT artworks continues to rise. As of the first three months of 2021, the total transaction volume of the NFT market has exceeded US$1.5 billion, an increase of 2,627% from the previous quarter.

Introduction to Encrypted Art Trading Platform

Trading platforms are divided into two categories: general platforms and art platforms.

1) NFT universal trading platform

OpenSea, created in 2018, is the largest trading platform in the NFT field (raising US$2 million). This platform is also well-known by overseas users and is known as It is the "eBay of NFT".

Rarible’s innovativeness in every aspect allowed it to surpass Opensea this year. Since the launch of RARI token (also known as Rarible platform currency) on July 15, 2020 and the launch of transaction mining, its growth momentum has been rapid. As of October 15, 2020, the number of daily active users of Opensea has reached 20,000.

Terra Virtua is an NFT trading platform with its own IP and VR support, a so-called immersive experience. WAX is an NFT trading platform based on EOS.

ImmutableX is the parent company of the NFT card project Gods Unchain.

2) NFT art trading platform

The more famous ones are: makersplace, superrare, KnownOrign, Async Art, AART, etc., but these platforms mainly rely on existing technology. The main difference lies in the preferred direction of the artworks. Some are cyberpunk, some are modern art, some are combined with certain pop culture, and some are art forms that combine video technology and streaming media.

3) Issuance platform

The process of issuing NFT is called mint (casting). Most trading platforms can issue it directly, including OpenSea, Rarible, cargo, etc. Platforms focusing on issuance include infiNFT, Mintbase, Mintable, etc.

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