JOIN USParesh Maity excited to enter NFT marketplace
Artist Paresh Maity's paintings took on an NFT avatar for the first time at a recent auction by Gallery Art Exposure on WazirX NFT Marketplace, pointing to the rising popularity of NFT works.
Paresh Maity, a leading contemporary artist, is more than happy about his foray into the metaverse. The five assets are currently being sold on WazirX NFT marketplace using Binance as the network with mint currency BNB.
The NFT market is growing rapidly. So far, the more prominent artists have stayed away from NFTs but now, says Vishakha Singh, VP, WazirX NFT Marketplace, this is changing.
"We are glad that the WazirX NFT marketplace is bridging the gap between traditional art and NFT. With this 'drop,' we hope to inspire other traditional artists to experience the infinite possibilities of blockchain technology."
NFTs, or Non-Fungible Tokens, are digital assets that people can collect as part of the new age of digital art. They are completely secure on the blockchain; they can never be stolen or damaged, and each owner gets a certification of ownership so that their NFT can't be reproduced or copied. And though you may not be able to touch your NFT asset since it is a digital asset that solely exists in the digital universe, you can indeed own it.
"NFTs are the future, contrary to many popular and conventional beliefs that think otherwise," said Maity. "By doing a collection of NFTs, I want to reach out to an entirely new audience that may not be aware of conventional art practices. So, the NFTs available now could be significant collectables or assets owned by people on the metaverse."
"There are NFT communities that I want to reach out to. My NFTs are unique because it's not just an image of my painting minted in a currency but an animation made out of the painting, which can be used on any digital screen for a spectacular experience.
Three of Maity's NFTs include physical artworks and their online assets, while the remaining two are purely online assets.
"We priced the NFT + physical asset at $110,000 and the NFT-only asset at $5000," said Somak Mitra, Director, Gallery Art Exposure. "We are extremely excited about Paresh Maity's entry into the NFT market, and we plan to launch NFTs of other artists soon as well."
Besides paintings, NFTs are increasingly being preferred for collectable artworks too.
Film producer Savita Raaj Hiremath of "Jhund" and "Khosla ka Ghosla" fame has co-founded Superstar Xchange, the first and largest NFT platform for film collectables and memorabilia in India.
"Superstar Xchange will help movie fans to enjoy films in a new format," said Hiremath. "As NFTs continue to become more and more mainstream, owners can expect their new creative digital assets to offer strong, diversified returns, not to mention bragging rights. My son is already investing in NFTs art."
Her son Chaitanya Hiremath observes that "it is mostly the below-30 generation buying virtual art currently, but this is set to change as the NFT reach widens."
"The interest is either because the asset seems a good investment or because they like the aesthetics. I have personally bought film mementoes and new generation art projects. I plan on collecting a lot more and am looking forward to more and more creatives being available to collectors like me."
(The author is a lifestyle, celebrity, and travel feature writer who has worked in a senior capacity with leading publishing houses.)