How Blockchain Is Redefining Art Ownership
Art originated a long time ago. It began when early tribes gathered around campfires in caves and tried to depict the world around them through cave paintings. Over time, not much has changed in essence; people still seek ways to express themselves. What has changed are the tools and technologies: from drawing on cave walls to carving on stones, then painting on papyrus, followed by paper and canvas. And now, in our time, art has become digital.
Digital art is a new chapter in the evolution of technology: something that didn’t exist just 50–100 years ago, when all artwork existed only on canvas or in photographs. Today, with tools like Adobe Photoshop and other graphic editors, almost anyone can create a digital masterpiece. And thanks to technologies like NFTs, people can prove ownership of their digital art and not only transfer it to others but also sell it through OpenSea.
How Blockchain Has Changed The Art Industry
NFT technology has found applications across various fields: from logistics and projects like 777 to the intellectual property protection industry. Today, any digital artist or music creator can turn their work into an NFT and sell it on a marketplace without the need to pay royalties. Here are 10 most expensive digital artworks for the past decade:
1. Beeple – “Everydays: The First 5000 Days”
A collage of Beeple’s daily digital artworks from 2007 to 2021 by Mike Winkelmann
Sold for: $69.3 million in March 2021 on Christie’s
2. Pak – “The Merge”
A dynamic NFT sold in 266,445 units to over 28,000 collectors in December 2021 on Nifty Gateway.
Sold for: $91.8 million
3. Beeple – “Human One”
A hybrid NFT/digital sculpture showing an astronaut walking through changing landscapes. The video feed can be updated by Beeple over time. It was bought by Ryan Zurrer at Christie’s in November 2021.
Sold for: $28.9 million
4. XCOPY – “Right-Click and Save As Guy”
A satirical animated piece mocking NFT critics. XCOPY is known for glitch-style artworks and crypto culture commentary. Sold on SuperRare in December 2021.
Sold for: $7.09 million
5. CryptoPunk #5822
One of only 9 alien punks. CryptoPunks are among the first NFT collections (launched in 2017). It was bought by Deepak Thapliyal from Larva Labs in February 2022.
Sold for: $23.7 million
6. CryptoPunk #7523 (“COVID Alien”)
Another ultra-rare alien punk, this one with a mask symbolizing the COVID era. It was bought from Sotheby’s by DraftKings investor in 2021.
Sold for: $11.8 million
7. Mad Dog Jones – “REPLICATOR”
A self-replicating NFT that “produces” new NFTs over time, like digital offspring. It was sold on Phillips Auction House in April 2021.
Sold for: $4.1 million
8. FEWOCiOUS – “Hello, i’m Victor (FEWOCiOUS) and This Is My Life”
A personal story told through five NFT artworks representing different stages of the artist’s life. Sold on Christie’s at age 18 in June 2021
Sold for: $2.16 million
9. Ringers #109 by Dmitri Cherniak (Art Blocks)
Part of a famous on-chain generative art series where each piece is created via algorithm. It was sold on Art Blocks in October 2021.
Sold for: $7.1 million
10. Bored Ape Yacht Club #8817
One of the rarest BAYC apes. BAYC became a symbol of NFT culture and celebrity ownership. It was sold on Sotheby’s Metaverse to an unknown buyer in October 2021.
Sold for: $3.4 million
So What Has Changed?
What happened is that blockchain completely transformed the traditional approach to digital art. Today, an artist no longer needs to paint on canvas and display their work in a gallery to sell it. Instead, they can create it digitally in any visual editor and list it on an NFT marketplace, where millions of users can view and appreciate the artwork. Through an auction system, someone can purchase the piece and reward the creator for the uniqueness and talent behind their work.
This gives creators unprecedented opportunities to earn from their work and increase their visibility. In the past, young artists and musicians needed the right connections and had to go through a long journey before their work could reach a wide audience. Now, things are completely different. Even without any industry contacts, if you have talent and something to show the world, you can easily do it by publishing your work on NFT marketplaces.
NFT technology also offers several advantages for digital art collectors. The most obvious benefit is that you no longer need to attend exhibitions or galleries in person. You can explore and purchase art directly from your home by visiting an NFT marketplace and browsing the latest listings. Another key advantage is that ownership rights are recorded on the blockchain, meaning they cannot be faked or duplicated. You can always prove that a specific piece of digital art belongs to you.
Why Should You Care?
The answer to this question depends entirely on which side of digital art you’re on: whether you’re a creator or a collector. Blockchain and NFTs offer valuable benefits for both. If you’ve always dreamed of making a living from being a musician but were held back by the difficulty of monetizing your work, it’s your time now. These new technologies give you direct access to an audience without the need to knock on the doors of galleries or music labels.
For example, let’s say you’ve created a new track and want the world to hear it. All you need to do is mint an NFT on the Oasis blockchain and your new song is ready for distribution and sale. The same applies to visual artists. They can simply create an NFT on the Solana blockchain and publish their artwork on one of the NFT marketplaces.
NFTs and blockchain also open up quite a few new opportunities for independent game developers and video content creators. Communities can now fund specific games or small indie or studios, making it easier for creative teams to bring their projects to life.
At the same time, if you’re a collector who wants to support emerging artists and musicians, it’s now easier than ever to do it and buy some emerging artist’s work.