Why NFT Arts Are The Gatsby Dream of Digital Era by Bella Protocol

Bella Protocol explained who is buying & creating NFT arts, and what’s the meaning in all these.

Who is Buying NFT Arts?

Using an established customer-value creation framework, we can identify four main types of value created by organizations. Functional or instrumental value offers features, functions, attributes, or characteristics, while hedonic value relates to experiences. Expressive value relates to symbolism, while the cost or sacrifice value relates to that which would be associated with the use of a product or service.

Based on the above theory, they divided the NFT buyers into two groups according to what value they seek in NFT — investors and collectors.

🔹Investors — They Mean Business

Investors are seeking a business transaction, thus are looking for functional and cost value. Their purchasing behaviour is not about the art itself; it’s just an investment. This kind of investor is likely to be an early adopter of crypto, and perhaps they have a lot of ETH stashed away.

Buying an NFT is an excellent way for this kind of investor to transform their coins into something else — a way to diversify their portfolio. A price is just a number to them.

🔹Collectors — Experience Junkies in Search of Meaning

Collectors are the opposite of investors — they’re seeking experiences and symbolic value. If they know there’s an original, one-of-a-kind version that exists, they’re more likely to crave the “authentic” piece. The mindset is more similar to the sneaker & baseball card collectors than the investors. NFT invokes the air of authenticity, so no wonder it will attract collectors.

Who is Creating NFT Art?

Despite all the industry-revolutionizing talk, there are two main groups currently creating NFTs, and arguably, there’s some crossover between them. However, let’s assume that creators are influencers looking for ways to monetize their following. What’s in it for artists?

🔸Artists: NFTs for Expression and Connection

NFT offer an attractive playground for digital artists who have found themselves on the periphery of the art world, which traditionally focuses on physical media. But now, everyone can be an artist.

NFTs offer a way to connect with the collectors of their work. Pseudonymous or not, there’s always a link there via the blockchain. Furthermore, associating oneself with the idea of NFTs bestows titles such as “NFT artist,” “digital artist.” This brings more connections, more customers, and more income.

Finally, NFTs offer the simple opportunity to earn an income from art that would otherwise be distributed freely. The word goes: “The best way to survive as an artist is not to have to survive as an artist”. With NFT, the artist maybe can just survive as an artist.

What’s the Meaning of all This?

The idea of NFTs has undeniable charm. The internet brings the marginal cost of copying a file to zero. But NFT proponents purport to be solving precisely that problem: the near-impossibility of monetising digital artworks. It’s a punk movement, a revolution.

But to solve that problem will involve will changing how people view online works and how artists get paid. If you put pieces online to view, then everyone can access and save their own copy. Subsequently, it gives an impression of no value, and all the efforts the artists put in are gone.

NFT is changing how artists are paid and how their work is valued. NFT brings scarcity to something that naturally doesn’t have scarcity. In terms of artists that post works online, more scarcity could be helpful.

For digital native users looking for sentimental value, it seems natural to collect things in digital form. As mentioned before, NFTs endow human emotions with weight and eternalize them in the digital world. Pursuing the eternal is the everlasting theme of mortal humans, and externalizing emotions seems one of the most romantic ways to go.

What is Bella?

Bella is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. We believe everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience.

Bella Protocol is backed by Binance Labs and Arrington Capital as lead investors. Other investors include Alphabit, AlphaCoin Fund, Koi Ventures, Ledger Capital, Tensor, N7 labs, Quest Capital, HBTC Labs, and more.

Bella brings your familiar mobile banking into crypto with just one click. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts.

Bella’s core team consists of serial entrepreneurs and blockchain veterans who have tremendous experience and a proven track record in finance, cryptography, blockchain, and engineering.

📰 INFO:

https://bellaofficial.medium.com/why-nft-arts-are-the-gatsby-dream-of-digital-era-c9a037360f25