According to Dawes, selling his work as NFTs has provided him with a new method to benefit from his talent. Making crypto art, he argues, is different from having many solid and long-standing relationships with his clientele. Dawes’ subsequent collections have all sold out since releasing his first NFT in the summer. Nifty Gateway, an exclusive marketplace for crypto artwork, has also approached him about releasing two “drops” – timed collections of pieces that sell out quickly.

 

He claims, “My first drop sold out in 60 seconds, and my second drop sold out in five minutes.” He’s now working on his third album, which is set to launch in May. Additionally, Dawes claims that working with NFTs has allowed him to meet people he would not have met otherwise. He claims that a number of exciting collaborations are in the works.

 

What’s the matter with them?

 

Despite all of this, NFTs continue to divide the design community. The main argument against them is that they are extremely resource-intensive and thus harmful to the environment. Jon Cockley, co-founder of the illustration business Handsome Frank, thinks the cost of NFTs is “simply too exorbitant” for him and his company.

 

“For a number of years, we’ve been talking about how Handsome Frank can become a more ethical and environmentally conscious company, and what decisions we can make to reduce our impact,” he adds. 

 

NFTs are based on the Ethereum blockchain, which is mined in the same way that Bitcoin is. Proof of work algorithms are used by both Ethereum and Bitcoin to reward machines that solve cryptographic issues. Energy consumption is high, and heat is a by-product, with so many computers working on these riddles. Ethereum is focused on shifting to a proof-of-stake blockchain, which rewards users who make a monetary payment rather than those who complete a transaction. This would be a huge improvement.

Design nft crypto Malaysia

The environmental impact of French artist Joanie Lemercier’s first ever NFT drop, which involved six pieces of crypto art, is one of the most high-profile examples against NFTs. Lemercier’s collection not only sold out in ten seconds for thousands of dollars, but it also used about 8.7 megawatt-hours of energy. This was the equivalent of two years’ worth of electricity consumption in his studio. And, because the pieces have subsequently been resold, another year’s worth of energy has been spent.

 

These figures came from a website called cryptoart.wtf, which is a platform for measuring the emissions produced by a piece of crypto art. The site was taken down last week. The information on the site was being used to intimidate and harass creatives working in the crypto art field, according to the site’s founder.

 

It’s easy to see why so many artists, illustrators, and designers are wary of crypto art, according to Cockley. “I believe our industry has always been a highly progressive and ethically upright one,” he continues. Design nft crypto Malaysia is a good place to start if you want to produce your own crypto art.