Buying art in Bitcoin is no more complicated than paying with other currencies. Besides avoiding banking regulations, crypto transactions are also useful for buying art from countries under international sanctions.
In the crypto art world, there are hundreds of marketplaces. To choose the right platform, you should consider ease of use, copyright protection, and fees.
For example, Singulart is an online art gallery that offers a 5% discount for purchases made in Bitcoin. The platform also pays for transaction fees. The company’s Chief Technical Officer, Guillaume Simon, believes that the purchase of art in Bitcoin is beneficial to art galleries.
Another crypto art gallery is Kay Hare Art. Hare’s artwork is created with oil on linen and occasionally includes a 10c gold leaf. Her goal is to encourage limitless curiosity.
The blockchain technology used in crypto art adds a layer of security and transparency to the process. In addition to providing irrefutable proof of ownership, the blockchain also makes it easy to track the sale of the artwork.
Many artists are turning to the blockchain to register their work. This allows them to specify a resale price for their work, as well as the real version of the work. Once the work is registered, the artist can continue to receive proceeds from future sales of the work.
Other artists are creating new forms of crypto art. Some use pseudonyms, while others use the ERC721 token standard, which is a tamper-proof smart contract.