The digital era has given rise to piracy and has made it difficult to enforce copyrights to safeguard creators. But blockchain technology has shifted the whole industry and is now being used to empower creators as well.
The Internet has changed the digital landscape and has given artists and creative people the perfect opportunity to showcase their talent to the masses. Now, blockchain technology is empowering music creators, digital artists, and literature creators by allowing them to publish their content in a way they’ve never done it before.
Blockchain-based NFTs have recently emerged in the crypto market. NFTs can be used as tools by digital creators to monetize their content without involving a third party. However, artists need to understand when and how to use these assets to their benefit.
In times of piracy and duplicate digital content, creative artists must find creative ways to safeguard their copyrights and to get a fair share whenever their content is used by someone else. Piracy is happening on such a large scale that even strict government regulations cannot help creative artists soon enough.
Benefits of NFTs
NFTs can provide digital artists with various benefits if used properly. Provenance is one of the major benefits of using NFTs for digital creators. They can be used to create a digital record of ownership of any digital asset. The record can also be traced back to the origin of the creative work by anyone. This helps a lot in preventing intellectual property theft and piracy. NFTs do this by developing authorship.
Immutability is another reason why NFT can be used in the creative space. Since NFTs use blockchain for data privacy, they become immutable, just like blockchain technology. Once an artist creates an NFT, it can’t be deleted from the blockchain, and its data can’t be altered. This helps create a solid record of authenticity and ownership for every type of creative work.
Accessibility is another benefit of NFTs for the creative art industry. They are easily accessible, and users can buy, sell, or trade NFT anywhere around the globe. Accessibility also allows digital creators to connect with their audience without any restrictions.
Since blockchain technology is behind the creation of NFTs, they are easily traceable back to their origin. This can help digital creators check the sales data and understand their audience in a better way. Moreover, investors can always trace the original digital artworks to avoid buying counterfeit creative products.
NFTs also unlock many monetization opportunities for digital creators. For example, artists can buy, sell, or trade artworks in NFT marketplaces. Moreover, artists can easily earn royalties for their digital art and even rent out their pieces to keep earning passive income.