During this period, many artists, such as Justin Aversano, have minted or verified their work on the blockchain. NFTs are unique digital assets, such as jpegs and video clips, represented by codes recorded on the blockchain. This is a decentralized digital ledger.
Aversano is known for his portrait photography. He told NFTCN that he sold all 100 portraits in his “Twin Flames” series in the form of NFT between February and June, earning more than 130,000 in about five months. US dollars. In this series, Aversano photographed 100 pairs of twins to commemorate his fraternal twins.
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“I am the first NFT portrait photographer on the blockchain,”Said the 28-year-old young man. “I thought,’I put my art on the blockchain because it is a tool,” because it allows artists to tokenize, own, and monetize their work.“Why don’t any artists want to be involved?” Aversano asked.
Aversano learned about NFT earlier this year after talking to a well-known collector in the field. After noticing that he had purchased CryptoPunk NFT at a six-figure price, he sent a message to the collector. Afsano hopes to persuade him to buy all the physical portraits in the “Twin Flame” series.
“I stretched out my hand and said,’Hey, man, if you buy a CryptoPunk for this, you are willing to spend $100,000 for 100 copies[实物]Picture? You just spend more on JPEG,’“Aversano theory.
Instead, collectors suggested that Aversano keep his physical “Twin Flames” collection instead of selling it. He said that Aversano might later sell the entire collection to an institution, but at the same time, he could sell the digital version of his photography as an NFT.
Aversano said, “He opened my eyes” to see the world of NFT.
One thing that stands out for Aversano is that after his portrait is sold as an NFT, he can continue to earn royalties from his portrait. Due to a smart contract or a collection of codes that execute a set of instructions on the blockchain, creators can get additional compensation from the secondary sale of their NFT. Like most artists in the field, Aversano requires a royalty of at least 10% on the secondary sale of his NFT.
Image source: nftcn.art
According to data from the NFT platform OpenSea, as of Friday, the total sales (including resale value) of “Twin Flames” exceeded $565,000. Although this far exceeds Aversano’s income, he is able to continue to profit from sustained sales through royalties, which he said is crucial for the artist.
“The royalties on every sale are passive income for the artist,” Aversano said. For him, this provides a sense of financial stability.
Aversano also prioritizes giving back. In addition to his work as an artist, he is also the co-founder of Save Art Space, a non-profit organization that brings community art into public spaces, and donated part of his NFT sales to charities.
At the Sotheby’s auction on June 10, he sold his last “Twin Flame” portrait as an NFT for $35,280. He said that instead of retaining profits, he donated all the proceeds to the NFT community through the Sevens Foundation.
Aversano himself also collected some NFTs. In May, he spent more than $43,730-which was the majority of his NFT income at the time-to purchase CryptoPunk. Aversano said that the CryptoPunk collector community has always supported his work, and in turn, he also wants to buy his own CryptoPunk to support them.
“I thought,’Well, I want to buy this and really represent the CryptoPunk community, because they have always supported me, trusted me and believed me, so I wanted to show them that I believe in, support and believe in this community,” he said. “I am willing to spend half of my money to participate in it.”
Not surprisingly, Aversano has a very optimistic view of the future of the NFT: “Artists can take back their power and put their art on a platform, which can actually help them become financially rich.”Return to Sohu to see more
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