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RE: Morning Shower - Beauty of Woman's Body Contest - WEEK #218
Do you ever create NFTs to sell ? On Opensea or other places ? Just curious to know if it’s worth the trouble and expense to get into NFTs with my Artwork …
When I looked into it about 3 months ago, based on other's success…and how good their art was (really great art)…it's not worth my time. Actually, an argument can be made that I make more on steemit and Hive than I would on NFT marketplaces.
The most money that was made with NFT’s, that I've noticed, was collectible trading cards, with one common base art, with slight variations…kind of reminded me of baseball cards. Which makes sense, because the first part of sales is to create a “need,” and what better “need” is there than to have collectibles that can be traded with your friends.
Plus, like the conventional art world, 80% of the money is made by 20% of the participants. It's not equitably distributable by any stretch of the imagination…lol…hence, the barrier to entry to making good money is quite high. So yeah, it's not worth my time :)
I agree 100 % … I had someone ask me if they could use my Art to mint some NFTs on Wax. I said ok … they minted a few hundred of my sketches and I was to collect a small percentage of the 1st sale or something like that. They sold for a few pennies each so I made a few pennies… then they were sold and resold going all the way up to $100 and I got none of that. I realized that NFTs were just a way for very rich collectors to get rich and Artists got nothing. I’m glad that I never paid thousands in Ethereum Gas fees to learn this Lesson.
It’s just like the real world. I make a painting, I sell for $1,000 … the Gallery takes 50% … so I get $500… I have to show this as income and the government takes 50% … so I have $250, which basically paid for the canvas, paint and frame… so I get nothing… I have earned over $20,000 USD sharing my Artwork here on Steemit and YouTube. Converted most to Bitcoin so earned even more. As long as you have some crypto losses (Terra, Cub, Leo etc) to offset these gains the taxes are pretty low. So yes, Steemit is 1000 x better for artists.