Many are shaking their heads and asking who needs it and what it’s for but non-fungible tokens are gaining in popularity and according to experts, here to stay, for the long run. Like a snowball rolling downhill but at warp speed, this blockchain technology with a twist is moving forward at warp speed.
Israel, the startup nation, is no slouch. Not everyone has jumped on the bandwagon but each day, cheaper minting platforms emerge and today there are Jewish Israeli artists coining NFTs at a record pace. Ethereum’s pricier platform has encouraged other, far less costly, cryptocurrency platforms utilizing smart contracts to host NFTs, such as Cardano and MATIC.
In Israel, many Jews are discussing NFTs like the weather. It’s the local mentality and unlike Bitcoin, which is a bit more far-fetched, once a cryptograph is bought, it can remain as a file or be printed in any size, on anything, with a selection of medium based inks.
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More than the original price for, say, baseball cards, collectors of all kinds will soon be able to spend on NFT art pieces, either as a pure investment, or to simply suit their tastes and interests. Cheaper hosting will mean that more tokens can be minted by typically modest income artists and also sold at lower prices. It can become win-win.
Furthermore, there has been talk over the last couple of years that Ethereum will upgrade to version 2.0, thereby providing scalability on a busy blockchain to keep transaction costs very low. Considering how versatile Ethereum is, this is important news for a much more established platform.
To date, Christie’s is the only auction house of its size that has taken the plunge to get into the digital art game, having recently sold a collection of Cryptopunks for 17 million dollars. Many smaller galleries, however, have emerged online to allow artists to mint their tokens and enable collectors who are in lower tax brackets, bid for them. Game’s on and it is all above board. Jewish Israeli NFT art is seen everywhere and it’s a boon because many buyers feel that they buy not only for aesthetics but also for their souls.
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The Jewish rooted images touch them in a very deep way, that makes them tingle when they look at a Chanukah menorah, traditional candlesticks or Sabbath candles, images of Jewish families or individuals in traditional, religious garb, etc. These things transcend the physical and though they are spiritual, they root the observer and a feeling of wellness washes over him or her.
Neighborhood of central Jerusalem, creates pieces inspired by her deep love and devotion to her people and her family, while at the same time, reflecting her generation and the more modern, technological age. Now, on the cutting edge of blockchain technology, she can create Jewish Israeli NFT art that people the world over can have access to and acquire.
Minting tokens and displaying will also strengthen an artists’ brand. Even mildly curious skeptics can learn the names of Jewish Israeli NFT artists and find them online, whether via social media or websites. Should those artists travel abroad to exhibit their works, or stay in Israel and exhibit in local galleries, more traditional buyers may more likely be inclined go to see their art in person.In just under a year, the term 'NFT' evolved from a cryptic abbreviation to the Collins Dictionary word of the year. Talia Zoref writes about her journey as a fashion illustrator working for Chanel, Dior, and Fendi to becoming an NFT artist, and shares tips for beginners
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My daily normal, working as an Illustrator, could not be further away from the technology world or the developers behind it. All of that changed when I heard about the artist Beeple who made history selling a digital NFT piece for a whopping $69 million.
Ever since, one of the hottest and most intriguing topics in media and especially on Twitter and Discord – is the NFT. Snoop Dogg, The Weekend, and Paris Hilton have already launched their own NFT collections, and other celebrities like Reese Witherspoon and Eva Longoria have jumped in as collectors in the space.
So why are people spending tens of millions of dollars on a digital file? What is NFT? Which NFT is worth buying? Moreover – are NFTs just a passing trend, or are they here to stay?
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I have been an international illustrator for the last 10 years and recently, became an NFT artist. As an illustrator, I have collaborated with companies such as Chanel, Dior, and Fendi and I had the pleasure of meeting (and sketching) Mariah Carey, Celine Dion, and Gal Gadot.
However, nothing prepared me for the NFT revolution that started this year. Like everyone else, I heard the scandalous news last spring that a Jpeg had been purchased for $69 million. I needed to understand what this new NFT world was all about, and before I knew it – I discovered an amazing way to merge Art, Tech, and community. Very quickly, I fell in love with the NFT world.
When I began this journey, my excitement far exceeded my knowledge of programming, crypto, or blockchain technology. After doing my own research (DYOR – do your own research) to understand the meaning behind these terms, the next step was to check where to upload my work.
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In order to post your art online, you need to pay around $200 for each painting to be minted on the blockchain through gas fees, which are transaction fees (denoted in GWEI on the Ethereum blockchain). In addition, you will have to promote yourself as a creator and secure a space on prestigious platforms. When I first started, weeks passed and I did not hear back from most of the platforms, since many of them were backlogged with applications in this new, highly specialized field.
Despite these obstacles, I was determined to join the NFT space. The innovation and opportunities it offers artists are optimal due to the royalty automation on each subsequent sale, a possibility to use one’s art for charity, creating a community, or a supportive incubator for artists and creators, and even digital real estate investments where events can be hosted for collectors of NFTs.
I started out with OpenSea, an NFT marketplace, where I posted my first NFT. Lo and behold – my work did not miraculously sell for millions of dollars within minutes. Therefore, I decided to share the link in a Facebook group dealing with NFTs, where I received multiple comments on it and collaboration offers.
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A Co-Founder of one of my current projects, Assaf Sela, suggested creating a collection of thousands of art pieces with AI, merging multiple traits. We started to work together, establishing an amazing team and that is when everything started to happen. From Paris Hilton retweeting us to an amazing collaboration with Quentin Tarantino’s NFTs – now I can say that when it comes to NFT projects, the sky is the limit.
“I have been an international illustrator for the last 10 years and recently, became an NFT artist” | Photo courtesy of Talia Zoref
Our NFT project is called ‘Eyes of Fashion’ – a collection of 8, 888 illustrations, based on work presented in my 1/1 solo exhibition. It focuses on art, female empowerment, and providing high ROI value to the community by establishing donations for charities chosen by investors, fashion events, and even a creation of a fashion show in the Metaverse.
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NFT, short for Non-Fungible Token, is a unique digital asset. An NFT can be seen as a type of license or digital certificate based on blockchain technology. Specifically, in the case of my project, it is in the cryptocurrency, Ethereum (other NFT blockchains like WAX or Solana have emerged as well and are growing rapidly). Unlike other cryptocurrencies or traditional money where $1=$1 or one Bitcoin = 1 Bitcoin, an NFT is “non-fungible” meaning each piece has its own unique value. You cannot find another one just like it. It is irreplaceable. An NFT comes with identifying information, which allows collectors and buyers to confirm the original ownership and provenance of these digital works.
First, understand what value the NFT offers. There are NFT projects and pieces that offer ownership of rare high in demand art pieces, but there are also NFTs that give holders other types of value such as dividends, donations, events they can attend, and more.
Once you understand what value you are getting, you can check for the demand and supply. Are there bids on the piece? Like in the stock market, if more people are looking to sell than buy, the value will probably go down in the short term, however, there is also an opportunity to get your NFT/ Stock for a lower price if you believe the price will go up in the future.
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Next, look at the community and the social media activity. When there is an enthusiastic invested community around a project or a single NFT, it might very well help the project take off. It is also important to know the project team and the people behind it. Are
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