The success of NFTs has crossed the line and many companies are starting to take on these assets. Users of the Facebook metaverse have explored this path to launch their own investments, while Twitter, now in the hands of Elon Musk, has already begun stake these tokens for use by users as profile photos.
NFT stands for Non-Fungible Token. In the economic sector, a fungible asset is something with units that can be easily exchanged, such as money. With money, you can exchange a €10 note for two €5 notes and they will have the same value. However, if something is not interchangeable, this is not possible: means that it has some unique properties, therefore not exchangeable.
Richard Silvera, a young Uruguayan artist with over 10 years of experience in the world of digital art, decided to use the potential of NFT to create his own collection. And not only that, in order to reach more people and potential buyers, he created a museum in the metaverse where he could exhibit all his creations. Today, earned over $200,000about 185,000 euros for the works he sold on this platform.
From advertising to the digital world
Silvera began working in the world of advertising and audiovisual communications, creating all kinds of designs for several clients, and later she decided to open her own graphic design studio and post-production services. The pandemic had taken a heavy toll on him, and since he usually invested in the cryptocurrency market, he decided to go into other similar ventures that continued to generate income. He expanded his knowledge of blockchain and decided to combine his passion for art with the sale of NFTs which has already begun to take off. “It was at this very low point that the opportunity for these designs arose,” he explains at El Observador.
Many of his collections are based on religious themes due to his faith and he has gradually created over 3,000 designs. This opportunity made him open his mind, and new ideas soon arose. He created two companies associated with the NFT., “Generative Miners” – a collection that is sold in the metaverse and randomly generated by a computer, and the first digital restaurant “CryptoSushis” with 90 different food designs. All products are exclusive and include high security mechanisms to maintain this unique factor. As explained on his website, “Each work has a serial number and a set number of copies to sell, allowing for greater transparency. This prevents the works from being sold in other markets without the knowledge of collectors.”
On the sales site, the designs have prices ranging from 800 to more than 30,000 euros. To further increase its sales, since it was first shown on video while the object was rotating, it was decided create a personalized museum in the digital world. Silvera has found the perfect place in the metaverse to invite buyers to visit her work through 3D digital sculptures. “Between a visit to a traditional museum and a 100% virtual one, there are completely different experiences. Both will continue to exist, it’s not that one is going to replace the other,” says the artist in the Uruguayan media.
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