Category
Tech
Delegated Interfaces
Trend cluster
Category
NFT
Art
Visual artists and musicians are harnessing NFTs to profit from their work more easily.
4.6
Trend score
Trend
What is the NFT Art trend?
NFT Art: NFTs ("non-fungible tokens") are units of currency in the Blockchain ecosystem that cannot be replicated. Within the art and entertainment industries, creatives are selling their works as NFTs to monetize their music or art.
Insight
The consumer insight behind the NFT Art trend
Ownership in the digital environment is precarious as many users are prone to pirate content and sidetrack paywalls. This is particularly affecting creative practitioners and digital content creators financially. Accelerated by the COVID-19 pandemic which has ensured the economic stagnation of the industry, many individuals are looking for new and innovative ways to sell their work, while also gaining some control of it on the Internet.
Trend themes
Themes within the NFT Art trend
Three behaviours holding the trend together01
NFT Monetization
In the art and entertainment industries, creatives are monetizing their music or art by selling works as NFTs.
02
Tokenization of Digital Assets
NFT technology is enabling the tokenization of digital assets, providing creatives and artists a means of monetizing exclusive content.
03
Cryptocurrency-based Monetization
NFTs are being utilized in creative industries for monetization, providing better control over licensing and payments made in cryptocurrency.
Industry implications
What the NFT Art trend means for industry
Where the trend changes the playbookFor
Art Industry
NFTs provide an opportunity for artists to monetize their work in the digital space, enabling better ownership and protection of digital assets.
For
Entertainment Industry
NFTs are disrupting the entertainment industry, providing a means for musicians to monetize exclusive content and providing fans with new ways to own digital collectibles.
For
Blockchain Technology
The tokenization of digital assets using NFT technology is a novel use case for blockchain technology, providing opportunities for innovation in blockchain development and applications.
Workshop question
How can your brand help creatives monetize their work?
Trend signals
Trend signals for NFT Art
Trend score 4.6 out of 10, from popularity 82%, activity 46%, freshness 10%.
Popularity82%
Activity46%
Freshness10%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the NFT Art trend
4 featured examples from Mar 4 to Mar 20, 2021CategoryTech
Collectible Digital Albums
The New Kings of Leon Album Will Be the First Available as an NFT
Music production companies can expand their services to include NFT album releases, which can create a new revenue stream that is not dependent on streaming services.
CategoryArt & Design
Martian Digital Homes
Mars House is a First-of-Its-Kind Digital NFT Home
NFT technology has the potential to disrupt the real estate industry by allowing for the creation and sale of unique digital homes as assets.
CategoryBusiness
Non-Fungible Token Song Releases
Our Lady Peace Releases a Single Through the S!ng App
The music industry can explore NFT adoption to create new revenue streams and enhance artists' control over their music rights.
CategoryArt & Design
Collectible Digital Artworks
Injective Protocol Digitized a Banksy Screenprint as an NFT
Blockchain companies can use their technology to create and manage NFTs that hold value for digital collectible art
