The Growth of Digital NFT Art: But at What Price?

by | Apr 19, 2023 | General | 0 comments

The world of digital art has been revolutionized with the emergence of Non-Fungible Tokens (NFTs). If a digital artist wants to sell an NFT, they first have to “tokenize” their work on a blockchain, which is a kind of tamper-resistant digital public ledger; many use the Ethereum blockchain.

You can join platforms such as, where you can list your artwork for sale and reach a larger audience. NFTs are becoming increasingly popular, and many digital artists are seeing massive profits from their sales. It’s no wonder that more and more people are jumping on the NFT bandwagon.

However, there are some drawbacks to using NFTs. For starters, the transaction fees can be quite high. Depending on the platform, the fees can range from 0.5% to 5%. This means that if you sell an NFT for $1,000, you could be paying up to $50 in fees.

In addition, many platforms only accept cryptocurrency payments, so you have to be familiar with the process of converting your earnings into fiat currency. This can be a time-consuming and complicated process, and it can also be risky as the value of cryptocurrency can fluctuate quickly.

Finally, there is the issue of copyright infringement. Since NFTs are digital, it’s easy for someone to copy and paste your artwork and claim it as their own. Unfortunately, there is no way to completely prevent this from happening, and it’s something that all digital artists should be aware of.

Despite the drawbacks, NFTs are still a great way for digital artists to monetize their work and reach a larger audience. However, it’s important to weigh the costs and benefits before jumping in. Make sure you understand the fees, the cryptocurrency process, and the risks of copyright infringement before you decide to tokenize your artwork.