Keys to Digital Art NFT Values

In March 2021, Christie’s became the first major auction house to sell a fully digital, NFT-based artwork, a collage by US artist Beeple, for over $69 million to crypto investor Vignesh Sundaresan based in Singapore, setting the third-highest price for a living artist at auction, shaking the art world to its core.

“Tree of Transfiguration” (2016) — Spiritual Growth & Transformation by Finamatrix.

What are NFTs and why the digital art NFT mania? What are the benefits for the NFT buyer?

  • A non-fungible token (NFT) is a unit of data stored on a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.
“Violet Vagientine” (2021) (left). “Baby Steps” (2021) (centre). “Tree Sparkle” (2021) (right). Original artworks by Finamatrix.
  • As we know, values go up if the use case or utility becomes greater. So on the topic of digital art such as images, what determines the value for these NFTs? Here is what is offered:
“Of Pigeons & Peace” (2020). Ultra-rare white pigeon and black pigeon foreplay.
  • Artistic vision: it is important that a large number of people and potential buyers are able to connect with the perspective of the artist which will determine its mass appeal and hence, value.
“The Lord’s Prayer” (2021) NFT by Finamatrix.
  • Tax reliefs: the purchase of digital art NFTs is a form of capital investment which in many jurisdictions is tax-deductible.

We welcome all feedback at art@finamatrix.com and please visit our art NFTs at FiX.Digital.Art in Facebook. All our artworks can only be purchased with Finamatrix (FiX) and Fi.X (FIXX), our in-house cryptocurrencies.

Selected references:

Finamatrix.AI

Empowering You